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About Weekly chronicle & sentinel. (Augusta, Ga.) 1866-1877 | View Entire Issue (May 19, 1869)
OLD SEiUES, VOL. LXXVI. (Chronicle & J>entinel. AUGDMTA, <;A : hKßgMiii iwtiiiifc i tv i't. Will Armed— Goj a Joe Brows Pike. —The Charleston Courier is the re cipient of a specimen of Joe Brown's Bikes, wLUich is n owa part of the defences of the Courier office. They are horrid ugly things, designed for the last ditch which Gov. Scot*, is to occupy, ‘’may he. If the Carolina Governor's “rtelish conics this way. ire will “pike cm ’ or "hook ’em/ secundan orient according to "Brown’s actici” and “Scott’s matosu vres.” Ilook by the right flank! Hook by the left flank ! Centre, Pike! ! Close of the Episcopal CONVEN TION.—The close of the Episcopal Conven tion, which has been in session ip our city during the past week, was tnarkod by cer emonies peculiarly solemn ami impressive. The morning service was read by Ilev. Robert Elliott, eon of the revered and lamented Bishop E liotf, other dignitaries of the Church, unknown to the Reporter, assisting. Upon the conclusion of the morning services Bishop Beckwith deliv ered, although evidently suffering from some acute attack, a most masterly dis course, from Ist Corinthians, ii chap., 14 verso: “But the natural man reecivcth not the things of the spirit of God; for they are foolishness unto him ; neither can lie know them because they are spiritually discerned.” Almost in the very ou'set of his discourse the Bishop acknowl edged that the thread of his discourse pro ceeded from the thoughts of another— Coleridge—as to the nature and progressive character of the faculty of faith. But it was quite evident that the acknowledgment should have been restricted to mere sugges tion, us the learned and eloquent divine mere ly took the thread where it had been drop ped, by that profound thinker, and contin ued it by argument lull of eloquence,with an exposition so clear and lucid, and so impres sive, as to make himself understood and felt by the commonest understanding among his congregation, and by tho most obtuse among his listeners. Tho Church was crowded to its utmost capacity, benches having been provided along the aisles, which, as well as the reg ular pews, were densely packed, while the doorways and vestibules were thronged. After ilie delivery of the discourse the rite of confirmation was administered to fifteen candidates, most of whom were adults. Ten were confirmed at the Church of thq Atonement in the evening, making twonfcy fivo altogether, added to this Church on this occasion. Additional about the Filibusters. We learn Irom the Bavannuh Republican, that there is a strong probability that the expedition which has for some time past been lilting out in South Florida, hassadod for its destination. By reference to our telegraphic news of yesterday morning the key is furnished to much which has been so teuae ously withheld from the public upon the subjoct. At last we believe that the lillibustcrs are off from this section of our coast. Others will undoubtedly follow in their wake as soon as the necessary prep arations can be made to enable them to go fully prepared. The agents of tho Junta in tho South exercise great vigilance, although it is highly questionable whether the Govern ment is not fully informed by this time of their doings in this city. They have no difficulty wliatcvor in obtaining men, who arc plentiful enough, but they desire none but those who have handled a musket or served in the late war. They have no use for raw becauso they will neod drilling. Men who can pitch into a fight, veterans especially, who can stand fire, are taken at onco. Quietly material is bought up ami stored, ready for shipment by rail road, steamship or sailing vessel, to desig nated points. To ascertain how this is done would require crates of vegetables, etc., to be overhauled, involving much ex penditure of labor. In this city the feeling in favor of the Cubans in their i Guggle is deep-seated and sincere, and extends from tho driver of a dray to tho merchant in his counting room. We shall look soon for tho New Orleans boys to show their hand, and unless their undertaking miscarries, they will be the most formidably organized body which has yet started. Those who suppose that there is no fire in this prnoko which is slowly curling up at different points on the horizon will be sadly mistaken erelong. Death of an Eminent Catholic Priest. —Tho Very Rev. J. M. Lancaster, the administrator of tho diooeso ot Coving ton; Kentucky, died in that city on the 3d instant, after a lingering illness. He was a fellow student of Archbishop Spalding, of Baltimore, in tho College of the Propa ganda, and for thirty-five years has beeu a zealous missionary in Kentuey. Augusta Factory' and Granitevilt.e Goods have again been reduced in price. We now quote 3-4 shirting 10} cents, 7 8 shirting 13 cents, 4 4 sheeting 14} cents aud drills at 15 cents. Macon and Augusta Uaii.road. — In the annual repot ts of the Goorgia Rail' road wc find the tallowing statement of the Macon and Augusta Railroad, now being operated by the Georgia Railroad, with which it connects at Warrentoc : EARNINGS. From Freight $29,302 02 *' Passengers 15,821 50 $45,125 52 EX PUSSES. Ordinary $39,803 85 News Depots 7,418 62 $47,282 47 By reference to the Superintendent’s report, Colonel Cole (the only one we have read), it will be seen that he looks for increased receipts upon completion, and intimates that the extension, or rather completion, of the road from Milledgeville to Macon will largely increase the income of this road. Rumored Resignation.—lt was rumor ed on the streets yesterday that Belcher, the no o Assessor of Internal Revenue for this u.. fhird Georgia) District, had ten der, and 1.1. resignation to 4he Revenue au thor!-i -in Washington City. Railroad Bridge over the Cape Fear.—l'he two splendid iron Railroad bridges,vu ’ Cape Fear at Wilming ton, North Carolina, ap,-roach completion. It i. couS.i, st y - xpected that they will bo turned over by the contractors on the first of July next, after which time there will bo no change of cars cr baggage on the route. Tnu Sale of the Wilmington and Mas. hester Railroad. —The sale of the W ilmington and Manchester ltailroad is to take place on the 23d June next. The stock in this road lias been for some time past selling for five cents on the dol lar. This road is now under lease to the bondholders for ninety-nine years. It is understood that the sale is merely to effect anew organization, and to perfect titles, as the bondholders now own a large majority of the stock. The chief owners of the bonds, it la said, are Messrs. Gar rett, J. Edgar Thompson, Hinkley and others, who now control the \V ilmington & Weldon and connecting lines to Balti more and Philadelphia. The parties who will come into full possession have ample means to make the road first class in eve ry particular- We look for its extension y Augusta at no distant day. Bullock’s Vaulting Ambition. The Nashville Union <fc American says that “there is a strong probability that Bullock, who seeks renomination as the Radical candidate for re-olection a3 Gov ernor of Geo rgia, will he thrown overboard. It is reported that instructions have been sent out from Radical Senators in Wash ington to discard him, because he procured the rejection of the Fifteenth Amendment by Republic tn votes. His aim was to cre ate the impression by this action that the State deair ;d to be totally reconstructed over again, bat he overleaped himself.” The truth is that the Radical leaders at Washington have found outßhat “Bul lock” is too much for them to carry, espe cially since the moderate Republicans have dressed him out in the “Angier” shirt. For Bullock to run as Governor with such a shirt on would he the veriest farce ever enacted on the political boards. We would wager a little he will never run again—ex- cept it be to Albion or Salt Lake City. T. C. I. 0. The moaning of these cabalistic letters has defied the efforts of those skilled in cypher-writing. TheNashvile Union con fe ses its ignorance, but suggests Tycoon of Imperial o,'der. A subscriber to the Im perialist in this section suggests that it may mean Third Count of the Imperial Order. A suggestion from such a quarter almost cquuls a positive affirmation. A Note for Summer Travellers. The Philadelphia Press says that at the North “sonsiblc people have found out that, at four dollars and a half a day, with everything extra, it costs less to spend the Hummer in Europe, ocean trip and all, than et an American watering-place. The glory of the pasteboard palaces for this reason is already on the decline, and right ly so. The charges at these places have reached the point of extortion, and the wro ig is about to be righted, as all wrongs in this counl ry, by the voluntary action of the people,which, in this case, takes shape in lett'ng >;he fleecing hotels severely alone. Bot'reen the economy of Europe for wealthy people of culture ami the at tractions of r,he enormous West, which the Pacific Railway has just opened up for men of business, the seaside resorts wiil be left to the flimsiest and newest of the vul gar fashionables. The chaage is a good one for tho tone of American society.” Southerners before the war spent nearly their net incomes for the year in support ing ‘‘the glory of pasteboard palaces” at these Northern places “of extortion and wrong.” At least twenty millions annually was dispensed with a liberality that knew no economy or stint in the maintenance of pasteboard glory and at least as much more in getting up suitable outfits, according to the latest styles as proscribed as respect able, by modistes and man milliners. To arrange that the Summer season should be “delightfully enjoyed” and divided be tween fashionable seaside resorts and fashionable watering places, such as Cape May, Absecum, Long Branch or Newport and Saratoga, West Point and Niagara, or other points of lesser note, occupied the t hought of a Winter, and was preferred to anxious papa and mama as the acme of hu man happiness, to which indulgent papa and mama lent no unwilling ear. We regret to notice a disposition to return to old ex pensive and extravagant customs. Per haps our Southern “Rebels” will heed the good Republican authority we have quoted, that “these places will be left to the flim siest and newest of tho vulgar fashiona bles,” and either stay quietly at home or patronise their own watering places, be causo “the change is a good one for the tone of American society.” Immigration to the South. Ail indications point to the fact that the tide of emigration Southward has set in aud that before the olose of the coming year we may look for a volume least an ticipated by our citizens. In our own State our Railroad companies led off by offering inducements as to low fares both for excursionists aud actual set tlers. A few Northern Radicals, promi nent among whom was John W. Forney, of “my two papors, both daily,’’ while publishing horrible “Ku-klux outrages” “pitched in” aud secured a large amount | of valuable property which they have di- ! vided out “for a consideration” among their Northern friends, occasionally “among” staunch Democrats like Asa Packer. Our Legislature, ignoring Northern cmi- | gration, have looked entirely to Europe, and have organized a Bureau for this pur- j pose. This action has met with an unob trusive but active sympathy among natur alized Southerners. The Irish have been active and our city already l’eels tho effect j of their strong arms, although their opera- i tions have been rather by individual than by . combined influence; and wo arc assured that : prominent Germans, those who Rave lived amongst us and appreciate the advantages of our soil and climate and the character istics of our people, have seriously taken | hold of this matter with the design aud | intent to make their efforts effective aud j successful. In the meanwhile the self-reliant Americans of the North, the East and the West, have quietly inaugurated a move ment full of their characteristic energy, which promises a migration, which will till up this section speedily with stalwart I farmers. As proof of this, our columns which have been heretofore laden with ad vertisements of plantations for sale,arc now i bare, and the other hand advertisements j in the Chronicle <C- Sentinel for “places | wanted appear." Just around us plantations have been bought up by parties from New York. New Hampshire, Connecticut, New [ Jersey and Pennsylvania. In every ins i stance whieh has come under our notice, ; large tracts have been purchased with the avowed policy of subdivision for tho bene fit of other parties, who are preparing to move, and expect during the coming fall to occupy the new purchases. From all | sections we hear of numbers who arc be ing attracted to our beautiful country, and, i strange to say, that we are visited by parties from Chicago, aud the fertile banks of the Ohio, who, induced solely in the first instance by curiosity, are now looking to an exchange of their own resi dences in their splendid country of the West, for the sunny South. There is every prospect that the tide las ; now been turned. The great far \\ est has been reached. All the gilded stories of fabuk-us fertility and prospective glittering wealth,are now subject to the severe analysts of personal inspection in traversing the treeless wastes cat by the fradulcnt Pacific Railroad. We have now no fears for our future. The next year will open anew era to us of progress and prosperity. Our lands will no longer be idle aud waste, but will blos som with increased and improved tillage, giving us abundance, and the laborer a profit and the world a surplus, whieh we only.who have learned its true value in the lessons of war, can estimate. We are glad to look upon this prospect. It will eradicate many false ideas current among our people. It will make us sell supporting and self-reliant. We will no longer look Northward for our supplies, for rules in fashion—for dependence in enter prise and progress in development. \Y e will look no longer to the North tor the law of industries, but wid create en force such Lws as arc suited to j our climate and locality and sectional i wants. This will stimulate industrial enterprise. It will promote the speedy 1 and thorough physical development j of the great resources of our land, and effectually complete the labor transition cou- sequent upon emancipation, and free us from a serfdom in which, for so long a time, we supported the Government and added untold wealth to the coffers of Northern Radicals and fanatics. Business and Expenses of Georgia Rail road. From a tabular statement of the Georgia Railroad showing the business and ex penses from its opening to April Ist, 1869, we gather the following facts : Receipts—passengers, 1869, $321,789, which, as compared with those of 1868, shows a gain of $33,424; but as compared with those of 1861, a loss of $22,071, and of 1860 $90.518; showing a marked re covery cf its ante-bellum prosperity. The receipts from freights, &e., to April Ist,lß69,were $782,732, which, ascompared with 1808, shows a gain ol $67,374; as compared with 1861, a gain of $182,732; ascompared with 1860, a gain of $35,852. The expenses for 1869 were $575,458, which, as compared with 1868, is an in crease cf $63,624; as compared with 1861, is a decrease of $128,293: as compared with 1860, a decrease of $55,686. The number of bales of cotton transport ed in 1869 was 104,373; in 1868 112,708; in 1 SOI 155,709; in 1860. 544,363. The number of bushels of grain carried in 1869 was 1,407,326; in 1868, 665,662; 1861, 209,497; in 1860, 353,241. The number of barrels of flour trans ported in 1809 was 12,530; in ISOS* 14.059; in 1869, 9,967; in 1860, 43,989. Con veil lion of Corporators and Hub scribers to the Augusta and Hartwell Railroad Compiuy. Toe Convention of corporators and sub scribers to the Augusta & Hartwell Rail road Company was held Tuesday at the Long Room of the Augusta Club. Hon. Eli Lockhart, of Lincoln, was call ed to the Chair, and James A. Gray, of Augusta, requested to act as Secretary. Dr. R. L. Casey, ol Columbia, road the certified copy of the charter passed by the General Assembly of the State of Geor gia, which, on motion of John Thompson, of Elbert county, was accepted. On motion of J. P. Williams the cor” porators named in tho charter were de clared Provisional Directors for the year 1869, with full authority to carry out the views of stockholders, receive subscriptions, have the several lines surveyed and do all and singular to push forward the work in accordance with the provisions of tho charter. • Dr. Casey offered an amendD'ent that Hon. H. F. Russell, Hon. R. 11. May, Hon. James T. Gardiner and James A. Gray, Esq., of Augusta, bo added to the Provisional Board of Directors and Cor porators, under the authority granted by tho charter. The amendment was accepted and the resolution passed unanimously. On motion of Mr. P. A. Maddox, Dr. L. Casey, J. P. Williams and James A. Gray were appointed a Committee to draft by-laws for the government of the cor poration. Passed nem con. Convention then'adjourned to 4 o'clock. AFTERNOON session. Convention met pursuant to adjourn ment, Hon. Eli Lockhart in the chair. On motion, it was resolved to go into an election of officers of the Company, and the following ticket was declared duly elected: Rosser L. Casey, President. 11. F. Russell, Vice President. James A. Gray, Secretary and Treasurer. The President, upon taking his seat, announced that the Provisional Direction of the Augusta & Hartwell Road was now fully organized. Mr. Tutt inquired if it was now in order to move that books of subscriptions he opened. Upon an affirmative answer, he moved that the President and Secretary he instructed to prepare books of sub scriptions, to bo opened in the city of Augusta, in tho counties of Columbia, Lincoln, Elbert and Hart, and that each of the members of provisional board be au thorized to receive subscriptions, and to report the same to the President and Sec retary. On motion the Convention adjourned to meet on second day of July next. The Georgia Railroad Convention. —The Annual Convention of the Stock holders of the Georgia Railroad & Banking Company was held Tuesday morniug at. the Masonic Hall in this city. The Convention was called to order at twelve o’clock by the President,lion. John P. King, Dr. J. A. S. Milligan, Secretary. A resolution inviting delegates present from other railroads to scat's on the floor of the Hall, was offered and adopted. Tho names of the stockholders were called in alphabetical order. The Chair appointed Messrs Butler, Davies and Thomas a committee to examine the stock in the road represented by proxies. A stockholder moved that the Conven tion adjourn until three o’cloik p. m., in order to give the committee on proxies time to make their report. Carried. Before tho adjournment, the President read from the Chronicle J- Sentinel a notice of the Strawberry Festival and Con cert, to be given in the city that night in aid of the First Baptist Church. The Convention adjourned until three o’clock p. m. AFTERNOON SESSION. The Convention was called to order at a few minutes after three o’clock by the Presi dent, Hon. JobnP. King. The Committee on proxies reported that there were represented in the Convention eleven thousand two hundred and seventy three shares of stock in person, and twelve thousand five hundred and fifteen shares of stock by proxy making a total of twenty-three thousand seven hundred aud eighty-eight shares of stock represent ed. The report was, on motion, re ceived. The Secretary read the minutes of the last annual Convention. The Convention being declared organ ized. the President read the reports of the Superintendent, President, and Directors. ; (See another column of the Chronicle & Sentinel for substance of these reports.) Tho reports were, on motion, adopted. It was ordered that proxies be received ] to-morrow, which have not been handed ; Into to-day, and the chairman of that Com- I mittee be instructed to sit at the table dur- j nig the balloting to pass upon proxies , presented. Mr. M. A. Cooper offered a resolution requiring the President and Directors of the Georgia Railroad Company to furnish all the assistance in their power to the Cartersville and VanWert Railroad. Adopted. Mr. E. E. Jones presented the report of the Committee appointed tu consider the proposition of the Port Royal Railroad Company, showing the benefits to be ob tained by its construction, asking the Com pany to subscribe $300,000 to the road, offering to repay $30,000 of this money when the first mile was finished and #30,000 for each subsequent ten miles. Mr. Davison opposed any aid being ' granted unless upon a first mortgage. The report was received and. on motion of Mr. Davison, laid on the table. On motion of Mr. B. \Y. Heard the ; Convention adjourned until ten o’clock j next morning. j The Blue Ridge Railroad.— Gov. j Scott, of South Carolina, accompanied by an influential delegation from South Caro lina, North Carolina, Tennessee and Ken tucky, are now in Cincinnati, conferring with the authorities of that city, Chamber ; of Commerce and Board of Trade, about the ’ great Southern Railroad.” Since the ■ power granted by the Legislature of Ohio to raise ten millions of dollars for the con struction of this Road with necessary branches. this, as we learn from our ex -1 changes, is the ruliug topic. (communicated ) > Macon Road. MILLEDGEYILLE, May Bth. 1569. Editors Chronicle & Sentinel • We are glad to see that you Augusta people and your corporation has taken hoidoTthe Macon Road affairs. It is just what is needed. The general impres sion is that we are all to be sell out : that Bullock had mortgaged the road to New York brokers, paying twenty five per cent. Der annum for money, and thatthe Georgia Road is to have the balance. We want the road completed and a Board that will not refuse the stockholders a free ride to a Convention of Stockholders after pocketing all the money they can raise and our stick also. J. [communicated. The Macon and Augusta Railroad. Messrs. Editors : I wa3 glad to see that somebody in your city has pluck enough to come out openly and boldly in favor of the completion of this road and of giving the stockholders, who have put their money in this road, some chance to get something for it. The truth is, the country stock holders will sustain the action of tho City Council to a man. What we want is, first, that the interest of the company shall be put in the hands of persons in whom we have some confidence. It was understood that when the Scalawag Bullock was put in this office that Hazelhurst was to be the President. This appeared to be satis factory to ail parties. The Georgia Bail road Committee said this suited them, but we were cheated, and, instead of Hazel hurst, we got Bullock. .Now we sec we are all to be sued. I, for one, do not rec ognize the legality ol(she present Board of Directors. Let your City Council go on and call a meeting of the stockholders. Augusta controls the stock, and if she will continue in the independent course it will not only restore confidence, but we can put this road through and make it pay, for it never will pay so long as it stands unfinished and the Georgia Railroad works it for what it can. get out of it. Then there will be no uecesv sity for suits. I am one of the original sub scribers, subscribing to Henry Moore,' when as first President he came through our county. I will pay no more until wee get something else than manipu ations and juggling?, which, I am sorry to say, hals always been through the corporation of Augusta. Now I have some kiope, and I am sure every one else will have if your City Council will tome out fairly and squarely, as it looks like they are about to do. Hancock. M liilher Drifting ? TRe New York Joumalof Commerce is thoughtful and fearful of the changes through which the country is passing. Radical hate of the South, Radical tyran ny, and Radical dishonesty are the causes. The Journal of Commerce says: “A wise, and great, and good man, now gone to his reward, once declared in our hearing thatthe great strength of our form of government lay in the fact that it was the nearly unanimous choice of the people; so much so that it by any sudden convul sion the machinery should be disarranged, the people in convention assembled would re-establish it precisely upon the original model. Can this be said of the govern ment of to-day ? Does any thoughtful man believe that a convention of delegates elect ed for that purpose would reproduce as their choice the present Constitution adorned anew with the patches recently added, and including also those now pre pared for application ? ’Arewe not drift ing somewhat ho -dlessly into organic changes, the real meaning and effect of which the nation is yet to realize to its sorrow ? AN ACT To Incorporate the Augusta & Hartwell Railroad Company. Suction 1 Be it enacted , That H. It. Casey, J. P. Williams, S. A. Hibson and Marion Daniel of Columbia County, and Eli Lockhart, C. E. Ramsey and Dr. John Wilkes of Lincoln County, E. It. Dead wiler, W. 11. Mattox and O. Tate of Elbert County, J. B. Benson, J. L. Johnson and J. A. Bowers of Hart County, Sam’i Ivnox, Thomas Morris and Obediah Dean of Franklin County, and such others as shall associate with them under said name, shall be, and are hereby incorporated and made a body politic with all the rights and privileges common and necessary to such a corporation under the name and style of the Augusta & Hartwell Railroad Com pany. Sec. 2. That said Company be authoriz ed to build a Wooden or Iron Railroad from Augusta, in the County of Richmond, Georgia, passing through the counties of Columbia, Lincoln and Elbert, to Hart well, in Hart County, Georgia, and said Company shall have the light to charge upon every mile when completed such amounts for freights and passengers as may bedeemed expedient, that the amount of freight so charged shall not exceed one cent, per one hundred pounds per mile, ana the fare of passengers shall not exceed six cents per mile, and for procuring stock in the same to open books and procure subscription of stock at the rate of one hundred dollars per share, at such time and places as may be deemed proper, and to elect a President and Vice-President, Directors and Agents, to borrow money, make contracts and to hold real and per sonal estate, to and for tho use of said Railroad. Sec- 3. Be it further enacted, That in all cases where a question of right of way may arise, and the parties being unable to agree, the Sheriffof the County in which the land is situated shall summons a jury of twelve freo-holders of the county, who shall assess the damages to be paid by said Company for running said Road through the land of any citizen, saving to either party tho right to appeal to the Superior Court.and in all such cases such jury shall in addition to the usual oath, be severally sworn in assessing damages to take into tho account the enhanced yalue of the land from the building of the road passing through said land : Provided, That in no case shall the right of way embrace more than one hundred feet in width on each side of said Road. " Sec. 4. That the corporation herein named shall be ex-officio Directors for said Road for the year 1869, and until new Iti rectors are elected. Sec. 5. That said corporators shall have full power to pass by all laws and regula tions necessary to carry out the object of their corporation, not inconsistent wit/. the laws of the State of Georgia and the United States. Sec. 6. Be it further enacted, That the stock of the said Augusta* Hartwell Rail road Company be exempt from taxation until said road is completed. Sec. 7. Be it further enacted. That all laws militating against this act, be aud the same are hereby repealed. Benjamin Conley, President of the -Sena te. A. E, Marshall, Secretary of the Senate. It. L. McWhorter, Speaker of the House of Representatives. M. A. Hardin. Clerk of the House of Representatives. Approved March 19th, 1569. RUFUS B. BULLOCK, Governor. Office Secretary of State, Georgia, 1 Atlanta, April 14 th, 1869. j The foregoing live pages contain a true and correct copy of the original act in this office. Given under my hand and seal of office. [L. S.] DAVID G. COTTIN'G, Secretary of State. International Affairs. Instructions to Minister Motley—American _ Relations with Mexico — Washburne s Paraguayan Trouble. New Y'ork, May s.—lt is stated that Minister Motley's written instructions are being prepared at the State Department, although he will be allowed large discretion in all matters that may come before him. Instructions relative to the Alabama claims, it is known, are based on Senator Sumner s speech, which seems to have been male our ultimatum. Mr. Motley is directed to be in no burry, but await a favorable opportunity for opening negotia tions on the subject. The Government has given Minister Rosecrans’ messenger, Dr. Brink, no en couragement whatever, it has been ascer tained from authoritative sources that the Juarez Government does not countenance a proposition relative to the sale of Mexi can territory to the United States. A long letter appears from Minister Washburne and Mr. Webb, reaffirming the former’s statements relative to the treachery and murderous ferocity of Lopez in Paraguay. Mr. Washburne says since the great battle, that took place soon after McMahon entered the camp of Lopez, nothing has been heard of McMahon. Three months have passed, and not a word from him has been received by his friends, and they fear he too is deprived of his liber ty. They have good reason for their fears, for if Lopez finds he cannot make him useful, or should from any reasons sospeet him as he has suspected everybody else, he will shoot him with as little compunc tion as he tortured and shot his brothers and sisters and his Cabinet Minister. London, May 5. —The Times this morn ing has another article on the Alabama treaty, saying the question is one of law, not of feeling. It remains to be shown that Great Britain can be held answera ble for any infraction of law, or excess over the ordinary practices of both countries. Thos. Lefroy, late Chief Justice of Ire land, died yesterday, age 93, AUGUSTA, GA., WEDNESDAY MORNING, MAY 19, 1869 LATEST WASHINGTON NEWS AND BDSSIP. startling revelations—the empiue. From the Baltimore Gazette. Washington, May 7, 1869.— The policy of this Government respecting Cuba may he summed up in a few words. Organiza tions for filibustering purposes will be en couraged. No word of Executive disap probation will be expressed against open assemblies for the furtherance of the so called insurrection. The seat of the United States Government is permitted to be used as the headquarters—in fact, the Capita! of the new Cuban republic. Its very Con stitution has been framed here, and sub stantially adopted by the accredited or un accredited representatives of the Cuban patriots. But, to save appearances, ves sels with arms, provisions and men, des tined to aid the insurrectionists, will bo re quired to clear from hence i'or neutral ports. This is the dodg-c. Why not nro cee 1 upon above-board principles ? Geo- Francis Train is after Grant upon this point with an Irish cudgel. The gist of his proclamation is, “What is sauce for the goose is sauce for the gander.” Up to this moment the Administration has not decided upon the exact terms ot the provisions of the new Constitution of Virginia. It is understood that the mili tary satrap there is authorized to name the day upon which the people of that Com monwealth will ho authorized to hold a Pickwickian election. All the candidates yet named are avowed Radicals. Even the Conservative oamlk&to for Governed is a professed Grant Republican! Mr. Sumner and a few other Radical Senators are yet at the National Capital, supervising appointments, and attending to our foreign relations generally. I learn that in response to a moving appeal irom his old friend Hale, ho insists that the Spanish Mission shall ho kept in abeyance until the defence of his friend can be re ceived. This has created quite a bl ow-up between him and Sickles. This Senator has not been quite sosuc cessful in compelling Grant to appoint a negro postmaster at Savannah. The dif ficulty, however, by no means grows out of any disrepect, for “race or color” on the part ol the Fresident. In short, a white man wants the place, it is lucrative $4,000 a year. He is a brother-in-law of a late member of Congress, of the carpet-bag stripe, and comes recommended by a bevy of that tribe. That’s all. Cresweli was used as a cat’s-paw by Sumner and Wilson in this negro business, but succumbed at the first word from his superior. By tho way, this mao is fast losing his influence with the Presidert. He has b.en snubbed several times lately. Very late dispatches, received in this city by the Government, leave no room to doubt an imminent and wide-spread revo lution in Mexico. There is no reason to believe that our Government has any policy in view of anarchy there. Our foreign relations are in such critical condition ail around, and tho members of the Cabinet so much at variance that it is not likely that the President will call Congress together by the Ist of August. The organizations known as the “Loyal Uniin League,” the “Grand Army of the Republic,” and the “Soilders and Sailors’ Union,” are recognized here to vital and progressive bodies. A delegation of one or more of these infernal conspiracies, un der the lead ofGovernor Geary, of Penn sylvania, has lately waited upon General Grant, and was “cordially received” by him, according to the official party organ. These pestiferous combinations have here tofore been considered as aiming more par ticularly if not exclusively to control ap pointments to office. So long as they con fined themselves to this business no one saw proper to object. It had long since been a foregone conclusion that the United States was to be represented in all its rela tions by the vilest of its population. But it seems these organizations are looked to by the Government as adjuncts and will ing helpers in more important affairs, and designed to have direct influcnco in tho contemplated change in the form of the Government. They are put to a twofold use. First, to "show that the country is and has been for the past eight years prac tically under their control, and therefore not governed by officials known to the Constitution and the laws. No worse state of things, it is conclusively argued, could possibly exist. Secondly, they are relied upon as the physical agency to set afloat a new imperial government through which this acknowledged evil might be suppress ed ! The principle upon which the Im perialist at New York was founded is fully comprehended in this simple statement of facts. By Radical machinations the ne cessity ol a strong government has been made apparent; by Radical ambition the remedy has been thus foreshadowed ! A slight glance at the columns of the Govern ment’s New York national organ will suf ficiently show thedrift of the current along with which we are gliding to imperialism. I have already noticed the fact that the “ Imperialist ” is received at the White House. I have now to say that the or ganization of the Cabinet was inspired by direct reference to combinations having in view the overthrow of the form of our Re publican institutions, and with an eye to the means* as detailed above of accomplish ing that object. A single fact, perhaps, will suffice to prove this : It will be recollected that Mr. Boric (a known life-long mon archist) was transferred from the Presi dency of the Philadelphia “Union League” to the Secretaryship of the Navy. We have now the high authority of the New ark Journal, edited by one of the most distinguished men of New Jersey, to the. effect that the money of Mr Borie largely aided in the establishment of the 1 ‘lmperi alist!" What the present Administration think of our Constitution, and the manner proposed of its overthrow, may be inferred from the language of its new organ, as follows —I quote from the “ Imperialist :” “The fact is, that very little is left of our Constitution. We have so battered it in the hurly-burly of our national politics that its own fathers would not recognize it. Its defenders have defended it almost to pieces; but there is, nevertheless, a great deal in it, which may well bear making over into the sontething new which is to take its place;, and as for the rest—per haps Barnum would give something for it; we would not. In order that America may be spared the fate of other countries which have tried the rash experiment of Republicanism, and escape her impending doom of anarchy and tyranny, it is neces sary that those who are sufficiently enlight ened as to the necessities of the times in which they live should organize them selves for ac’ion. That this is to be ac complished by the existing sssociation we hope and believe.'' This burg is a mereepp,anagr> of Boston. We receive all our inspiration from the “Athens of America.” There is a cotable jabbing just now about the “Grand Na tional Peace Jubilee,” to .come off there in June next. Washington will be a "dese. t ed village” about those days. It seems that the party of progressive ideas are erecting a building of tremendous dimen sions in Boston—to be plastered all over on the outside with placards of “Let us have Peace" —the inside to be partly filled with twenty thousand children and one thousand musicians, including fifty horn blowers. The managers of the concern have, with remarkable fitness, selected a name for the enormous building in whieh they propose to hold theif orgies. It is called the “Coliseum.” The Roman structure, after which this is named, was no temple of “Peace. It was an amphi theatre, in the arena of which poor de fenceless animals were thrust, to be de voured by wild, ferocious beasts, for the gratification of the morbid appetite of the public, in which captives in war were obliged (as gladiators) to amuse the people by butchering each other, and finally in which, for the mere pastime of the million aires. twelve thousand Jews and Christians (who were forced to build it) were given over, in a body, to thousands of huDgry lions and tigers. It is, nevertheless, well named, for the hypocritical cry of “Let us have peace’ ’ means, with sueh men, sub jugation, or butchery. But whose statue will grace the inside of this modern “Coli seum?’ —that of Grantor the renowned President of the “Provident Aid Society?” who starves poor seamstresses to the tune of a shilling a day ? Allow me to make a quotation merely for the purpose of “pointing a moral." The Chronicle of this morning says: “Mr. John Fishback, of Indianapolis, returning home in bad temper after an unsuccessful trip to 'Washington for the purpose of get ting himself appointed po-tmaster of the first mentioned city, permitted himself to be run as the Democratic candidate for Mayor, and in the election on Tuesday was defeated.” Moral —Let the Democrats be hereafter very chary of being in a hurry to reward deserters. They are coming over in shoals —by the hundreds and thousands, but let them bx/ce pot-luck! “ Crow. Chapman, crow 1 ’ The gaffs are all ready! Our foreign relations are becoming hour ly more embarrassing. The Spanish jour nals defend the capture of the Mary Low ell. and deny that the English Govern ment, at the instanceof the United States, has made any demand on Spain for resti tution. Cotton Dying. —Gentlemen from this and adjoining counties, says the Columbus Sun. and the immediate neighborhood, re port that the cotton plant is dying in con i siderable quantities, especially on the sandy and grey lands. It is thought in many I places, as seed arc scarce, that the cotton | will be plowed up and corn plant ed. The ! fifteen days of rain which wc have had. and the cold of Sunday, greatly injured ! cotton, and that the damage is being ap | parent under the influence of warm weather. The Prospect AND THE MANNER OF RETURNING TO SPECIE PAYMENT. From the New York Post, April 30 th. By returning to specie payments, we mean getting rid of the depreciated cur rency, and substituting for it a currency consisting of coin, or paper as good as coin. Those who do not want to get rid of a bad currency do not really want to have a good one. The dollar of trade cannot have two values: There are only two ways of getting rid of our depreciated aud fluctuating dodar; the one is tho honest way, by giving its holders aD equivalent for it; the other is the dishonest way, by letting it sink to nothing in their hands. Either way taxes the people the whole amount of the green backs ; but the first way distributes the tax among them by law, with some ap proach to equity; while the second way not only distributes the tax unjustly and at haphazard among the holders of the bills, but, what is worse, it plunders credit ors generally, by enabling debtors to pay its debts in worthless legal tender mo imp The time is approaching when one of these two ways must be foil awed. The amount of currency in this country is so large that gold would bo at a. premium of not less than one hundiedper cent., if the amount were allowed to regulate the value, as it would with a hard money currency , and in a normal condition of trade. But the coin value of a credit currency is in fluenced by other things; By the confidence of its holders in its early redemption ; by the depreciation which gold suffers wheu the demand for it, as money, is diminish ed ; and by many temporary causes. Our greenback dollar, valued in coin, is now worth sixiy-five cents ; valued, in labor, it is worth sidy cents; valued in commodities, it is worth about fifty-three cents; but valued according to the advance in speculative property, such as city lots and railroad stocks, it is worth much less than forty cents. In other words, gold is now by far the cheapest article known to commerce, and, in the natural course of trade, it would be exported from the country rapidly, until it should advance in price, or other things fall. Nothing has prevented the country from being drained of gold during the last four years bat the export of bonds which are the promise of gold—that is to say, in stead of paying as we go, we send our promises to pay, at a herny discount, and with high interest for the forbearance. How long can this last ? We have the highest authority for the estimate that, of our national bonds, $800,000,000 are al ready held in JGurope ; and that., after making due allowance for those held in trust by the Treasury, as security for de posits and circulation, for those held for permanent fnvejtnieht by trustees, execu tors, public officers and institutions, which will not sell them) and for those bonds which arc held by private citizens for the same purpose, and which will not at any price edme upon tho market, there are probably scarcely more than $200,000,000. of the national debt now available, in the form of coupon bonds, for speculation and for export. If this estimate be correct, it accounts satisfactorily for the scarcity of bonds in this market, and for the ease with which the price of them in currency is raised by rumors, and by speculative agencies. But it is evident that the exportation of them cannot continue long at the present rate. Having th us but $200,000,000 of bonds available in any case for export, and uang aswe do on the average $6,000,000 a weed:, to pay our debts in Europe, it is plain that our stock, by which gold is kept depressed in price, cannot possibly last more than thirty-three weeks longer ; or, not to rely on the figures for too much exactness, that the time will come, witr.in a year, when we shall have no more bonds to send. Perhaps the first thing to do is to estab lish a regular daily clearing of gold checks at the Clearing House. Each of the as sociated banks here does two classes of business; the “currency busines-,” settled in a few minutes by the exchange of certi fied checks in the Clearing House, and the go'.d business, settled by messengers who run about from bank to bank to collect the coin, tio long as this is the case, deposit ors are discouraged from keeping gold ac counts, because of the extra and irregular labor they involve. A clearing for gold cheeks will afford a starting point for a change in the whole system of business in this city, and, therefore, in the country, which must be gradual, hut need not and ought not to be slow. When the banks set the example, hv showing a preference for gold accounts and • for paper payable iti gold, other great pub lic institutions will rapidly follow it; and private citizens, who hold large amounts of property in the debts of others, will be quick to see that their only safety lies in having their debts expressed in dollars of real value. But a voluntary change by business men from our present money to coin, as money of account, is the real and only solution of the great financial problem before the country. This would leave the greenbacks to be withdrawn by the Gov ernment at its leisure, without embarrass ment to trade. Any other course will lead to the withdrawal, or rather annihi ation of them by a panic, ending in the de struction of property of innocent men, in the confiscation of the laboring man’s savings, and of the support of widows and orphans, in redistribution of the wealth’ of the country without any regard to right, and in seriously impairing that security of property which is one of the main supports and benefits of society. Taxes on Sugar. Tea, and Coffee. ' —ln 1868 there were 30,500,000 pounds of tea imported into this country. The duty upon it was about thirty cents a pound, which would be $10,000,000. In addition there was a tariff of twenty-five per cent, in value, which would be equal to $5,000,- 000 more. The total annual-tea duty is $15,000,000. The taxes upon tea are more than equal to the cost of it in China, with the exportation from there added. When a per-on buys a pound of tea, half ofthe price goes to the merchant, and half to the Government. We imported last year 250,000,000 pounds of coffee. The duty, at 5 cents per pound, amounted to $12,500,000. We also imported about, 200,000,000 pounds of sugar in 1868. The duty was 4 cents a pound, and amounted in the aggre gate to $8,000,000. Thus, upon tea, cof fee and sugar the people ot the United States are taxed, through the custom house alone, $35,000,000. This is equal to nearly $50,000,000 in greenbacks. If the Government would abolish the Nation al Banks, call in their circulation, and is sue greenbacks in their stead, it would save more than half this oppressive tax. Those who are in favor of cheaper tea, coffee and susar, should insist upon the abolition of National Banks, aDd the sup planting of their notes by greenbacks. Then, with that saving of $35,1X10,900, we could admit tea. coffee and sugar free of duty, with but little loss to the revenue. — Cincinnati Enquirer. Brutal Treatment of the Insane in Massachusetts —The Massachusetts Legislative Committee which is charged with the invest’gation of the death of Parks, at the Taunton Lunatic Asylum, l happened, a few days ago, upon a bit of j new testimony, of just such a character as furnishes Charles Keade with the materiel for ‘‘Hard Cash.” Patrick Milan, of B.eadvil!e, a former patient at the asylum, testified that he saw the struggle between ■ Parks and the attendants; three men held down the victim ; of these three Young i was kneeling on his breast, choking him and striking him with his fist; Lampson < was stamping upon Parks’ breast with his heel, and kicking him in the side with all his might, waiting for a chance to hit fair between the struggles of the victim, who hallooed as often as there wa3 any breath in hi3 body. When Parks was completely exhausted, he was taken to his bedroom, where the witness heard more violence in the night. Why didn’t the witness make public such doings ? He did not dare. He had known patients to be biaten for mak ing complaints. One day, keeper Charles Acorn required witness to bathe, and, upon his refusing, knocked him down and kicked him so severely that he was still lame from the injuries then received. He had also been kicked and bruised when he was in a straight jacket. Geo. O. Shat tuck, counsel for the asylum, cross-examin ed and bully-ragged the witness, but failed to discredit his testimony, which was very clear. The only surviving son of Robert Burns is now living in Cheltenham, at the age of Too Many Irons. Uncle Sam has a great many irons in the fire just now, and Ve don’t care how many get burnt. The New York Tines says : ‘‘We have just now in the fire the Cana da iron, the Cuban iron, the Mexican iron, the West India iron—not to speak of several domestic irons, such as the nation al debt iron, the reconstruction iron, the internal improvement iron, the Plains- Indians iron, and many more irons, which lie altogether in the fire, and beg in vain for the forge. Or, to take the French figure again, while Mr. Medijl begs us to “embrace” Canada, Mr. Banks asks to embrace Hayti and San Dotnibgo, Mayor Hall to embrace Cuba, Mr. Robinson to embrace Ireland, while many other gentle men pressiugly present the claims respect ively of Crete, the Sandwich Islands, St. Thomas, Sonora, Sinaloa, Chihuahua, California, Central America, and the. Can nibal Islands—all to be embraced at once in the clutch of long-armed Uncle Sam. This multiplicity and urgency is quite con fusing—couldn’t it bo so arranged that wc shall have one war and one annexation at a time ?” GEORGIA KAIL ROAD REPORTS. President’s Report. Office Georgia R.R. & Banking C 0.,) Augusta, May 11, 1569. j To the Stockholders: The report of the Superintendent is very ample and circumstantial upon the opera tions of the Road department. It exhibits not only the amount of income for the last fiscal year from the operations of the lfoad, but exhibits in detail the sources from which that income has been derived, aud the purposes to which it has beeu appro priated. Avery brief report from the Di rectors will therefore be required for the information of the Stockholders. Whilst tho report of the Superintendent shows fully the operations of the Road, the statement of the Cashier exhibits fully the financial condition of the Company, with its assets and liabilities, Tho Superintendent shows a gross profit of $1,104,521 04, and a net profit (deduct ing ordinary and current expenses) of $529,063 36; and deducting all payments on account of Road, ordinary and extraor dinary. a surplus remains of $268,353 77, applicable to other purposes. The Com pany, however, has some valuable assets independent of the Road, and the entire net inco ne fdr the year may lie stated thus : Net income from the Road after all payments, as above stated $268,353 77 Dividend on Stocks, interest and rent.. 100,711 75 Charged with in terest on bonds, taxes and salaries 59,304 26 —41,407 49 Total net profits $309,701 20 It will bo perceived by tbe above that after paying all expenditures and appro priations on Road account, the Company had for last year a net income of $309,- 701 26. Two dividends have been declared in the year of $4 per share each, amounting, with the tax of $16,024 to $349,104. The de ficit in net profits, to pay these dividends, was taken from and charged to reserved fund. This fund has also beeu charged with various items of war damage and losses by the old Ranks in liquidation, and stood on the 31st of March, as will be seen, at $718,233 53. This reserved fund, as it is known, is not immediately available as a cash resource. It has resulted, to be sure, from net profits over all expenses incurred and debts contracted ; but it is invested in our assets, some of which we do not wish to part with, and others are depreciated and unavailable. Those assets are, however, valuable, and abundantly sufficient, even under forced sales, to pay all liabilities of the Company and leave it entirely free from debt. That they are valuable, may be seen from the fact that they produced an income the last year of $109,711 75, and relieved the Road earnings from all salaries in the financial department, the entire in terest on the funded debt, upward of $16,000, taxes, and leaving a balance in aid of dividends of $41,407 49. The income from these assets may not be fully main tained in future, but it is not doubted that they will continue to yield a sufficient in come to meet the interest on the bonded debt of the' Company, or any debt the Company is likely to contract. It has been the policy of the Company to contract no debt not fully covered and provided for by the assets, thereby leaving the stock whole, and the Company virtually out of debt. Some increase of the bonded debt since the last Annual Convention, proves no departure from this principle. To save the forced sale of assets at an undue value, and liquidate some war damage claims an I bank circulation, and provide in part for the heavy extra work for restoration of property, without interfering with divi dends, the Board authorized an issue of 7 p.-r cent, bonds to a iimiteu amount.which have been sold at a premium- But the amount of assets has not been exceeded or even equalled, and the issue has been stopped. The Superintendent ha3 stated the gross and net profits of Road operations for the past year. He also states the encouraging fact that the gross earnings exceeded those ot the year preceding $100,797 38, and the net earnings those of the preceding year, $83,542 60. He also states in detail expenditures on account of the Road, dis tinguishing the ordinary from the extraor dinary. The extraordinary are so called because of extraordinary causes —that is, by the waste and ravages of war. These changes make no difference in the capital- They are all charged to profit and loss ac count, like the ordinary current expenses. These expenditures have continued to be large, but with a Round House in Augus ta, and a few minor items, this distinction may be dropped—though somewhat larger outlays for new iron than “ordinary,” will be required for several years. Though the business of the year has been very satisfactory, it has been main tained under very strong and active com petition With a much heavier tonnage and 20 per cent, more mileage, an increase of 10 per cent, in gross profit has only been realized from the low rates at which much of the work has been done. Roads con tinue to multiply, by which we shall in the future be variously affected; but the Board are inclined to believe, with the Superin tendent, that the present profits of the Road may be maintained. Compared with ether contiguous Roads, our business in tbe transportation of Cot ton has been very encouraging. Whilst other neighboring Roads have fallen off largely, the number of bales transported over our Road has only declined 8,336 bales, and that 1 >ss has been entirely on Cotton from Montgomery. From that point we transported in 1867-8, 12,062 bales, and the last year only 2,903 bales , decrease, 9,159 bales, which more than ac counts for the whole decrease. From most other points beyond our terminus, es pecially the Northwest, we have had a handsome increase. The loss from Mont gomery is easily acoounted for. It was partly from the short deliveries at that point, but mainly from the control of the Montgomery & West Point Road by rival | interest! Where the competition is equal, ! we may always expect our full share in the transportation of this important staple. Augusta is fast regaining its former popu larity as a Cotton market, and as an entre pot. its advantages are unrivalled. \\ e are also much pleased to find a pro gressive increase in the grain and provision trade from the West. In 186.7 8, we transported of Corn, 487,838 bushels ; and in 1868 9, 1,059 043 bushels ; increase, 571,215 bushels. We transported Wheat, 104,640 bushels in 1867 8, and in 1868-9, 302,411 bushels; increase, 197,771 bushels; and the same increase is found in most other articles of Western production. Should the inoroasud facilities in the means of transporting gram in bulk, spoken of by the Superintendent, be realized, this business will become one of muoh im portance to up. It is, to a great extent, a Summer business muoh needed by South i ern Roads, as it give3 employment to their stock at a season when much of it is idle To provide a safe and convenient fiscal agency for our own business, and with a hope of making some profit on the earn ings of the Road until needed, and upon private deposits, an office of discount and i deposit has been recently re-opened. The business has scarcely, been fairly opened, and a large business will not be sought or ! desired. The small business yet done has 1 been entirely safe, and it should be the policy of the Board to keep it so, and run Ino risks. Agencies have been established at Atlanta and Athens, aod from the high credit of the institution, deposits will no i doubt soon accumulate, when the business ! mav be safely enlarged and the profits in creased. The uncertain and fluctuating ! value of the currency is, however, very ; much against a safe and profitah e banking I business upon deposits. The trains ran during the year with great ' regularity and remarkable freedom from I accident : and the Board concur with the Superintendent in according to i the officers and employees much credit fo r NEW SERIES, VOL. XXVIII. NO. 2«> fidelity and zeal in the performance of their duties. All of which is respectfully submitted, in behalf ot the Directors, by John P. King, President. .SUPERINTENDENT’S REPORT. Office General Superintendent, 1 Georgia It. R. & Bk’ing Cos., V Augusta, Ga., April 30,1869. ) To Hon. John P. King, President G. R.R. Dear Sir : Permit me to submit the following report of the operations of your Road for the fiscal year, ending March 31, 1869. The Earnings of the Road have been : From Passenger Receipts $321,789 78 From Freight “ 761,694 25 From Mail “ 21,03701 Gross Earnings.. $1,104,521 04 The Op:rating Expenses for the same time have been: Fo r Conducting Transportation $146,341 59 For Motive Power 222,869 04 For Maintenance of Way 148,280 12 For Maintenance of Cars 57,967 93 Earnings over and above Ordinary Expenses $520,062 36 extraordinary expenses. Renewing Loco motive Engines (not ordinary repair-) $61,976 15 New Cars and re building Cars (not ordinary repairs) 53,645 68 New Railroad Iron,Chairs and Spikes(overand above ordinary repairs) 43,000 00 Ties used in lay ing New Traok, eto 5,373 31 Labor used in lay ing New Track, etc 3,889 58 Government Tax on Gross Rec’ts 8,373 99 Net Income . $352,803 67 Out of which has been paid : For 4 New Loco motive Engines 49,093 22 For New Freight. House and Of fices at Atlanta 30,947 82 For Balance on New Round House at Atlan ta 4,408 86 For Balance paid to Stockholders i u Dividends 268,353 77 : 352,803 67 Those results compare with similar ones for tho fiscal yeai ending March 31st, 1868, as follows: Receipts $1,003,723 66-sl, 104,521 04 Increase 100,797 38 Ex pen’s and Payin’ts, ordinary and extraor dinary ... 818,912 49—836,167 27 Increase 17,254 78 Increase net Income $83,542 60 I trust these results may be as satisfac tory to the Stockholders as they are grati fying to their Officers; for it is somewhat remarkable that, while the last Annual Report made for every Railroad connect ing with, or in the neighborhood of the Georgia Railroad, shows a diminution in gross receipts, the gross receipts of your Road have increased over one hundred thousand dollars. Our connections have suffered in the falling off in their gross receipts as follow.-: Georgia Central Railroad, $212,226 57; Southwestern Railroad, $86,408 91; West ern & Atlantic Railroad, $329,584 11; Ma con & Western Railroad, $83,972 86; Atlanta& West Point Itailroad.s4o,4os 73, and the South Carolina Railroad, $21,- 044 61. The cause of the increase of business over your Road is explained in the fact that the local business has been fully main tained, and the through business hand somely increased. This fact is both in structive and encouraging, as showing the success of our combinations, in spite of the fierce competition waged by rival routes, and the reduced rates at which a large proportion ot the tonnage and travel had to be taken. But wa have met all compe tition, and show a large increase in both grofis and net income. And after fully considering the danger from any new com petition that may offer, I can see, at present, no reason to fear (with average crops) any future reduction in the gross earnings of your road; but reasonable prospects for their increase as our combi nations and connections are improved, as we expect they will be. The increase of net income will be relative to the increase of gross earnings. If we deduct the ordinary and extraor dinary expenses for the last year from the receipts, we have left as net income, $352,- 803 67, or something over 8 per cent, dividend on the capital stoek, after paying the Government revenue tax on that amount of dividend; leaving all but $3,699 67 of the payments amounting to $84,449 90 made on acoount of new depot and finishing Round House at Atlanta, and four new Locomotive Engines, as charges against the income from other sources of the Company. We calculate the extraordinary work done (not ordinary repairs), in renewing Locomotives, fully equal to the maintenance of that depart ment under ordinary circumstances, and that the cost of the four new Locomotive Engines was not an expense in the ordi nary sense of that term, but an investment in property, as the building of new Freight House and Offices and Round House at Atlanta was the restoration of property dc stroyed by the war, and not likely to be required again. As it is not probablo that the business of your Road will deorease, but increase, and some addition to the stock of Cars and Locomotives be needed, and considering the cost of the proposed Round House at Augusta, and tbe heavy outlay required for new iroi t, timber and labor to continue the restoration of the Road Way, it will be sale not to calculate upon an increase of net income for the year just entered upon. But as the restoration of property pears completion, these extraordinary payments will be reduced, and tho not income in creased until it reaches tho maximum al lowed for the management of a Road and rolling stock in first-class condition. It is interesting to note the fact that both Passenger and Freight business have increased. The increase in travel amounts to $33,424 50, in about equal proportion, the local, with the through, showing, I think, a more prosperous condition of our peo plo. The revenue from freight has increased $67,372 87 over the earnings of that de partment for the last year. This increase is derived mostly from through business, resulting mainly from our improved con nections and arrangements with the West, and the increased facilities for the transit of freight through the city of Augusta. The income from Western business over your Road must increase, especially in the transportation of grain, whenever proper accommodation for its shipment to foreign markets is offered a.f our seaboard. St. Louis, with i.oi * natural advantages in rivers tunning for hundreds of miles, draining the finest sections of the Wes* for the production of the cereals, and her avenues for commerce by rail extending in all directions, and almost to the Pacific coast, must very soon become the distribu ing point for the great West Whca the Iron Mountain Railroad,between ?t. Louis and Belmont, on the Mississippi river, is completed, which, it i» expected, will bj done by next August, we will be able (b i the aid of a boat now being bui't) to run 1 cars between St. Ljuis and the seaboard without transfer, thereby making the transportation of grain in ImU) from the West to tho seaboard, tor shipment to for eign markets, practicable. This would be an important step in the direction of securing the emigration, and the importations lor the West passing through our seaboard cities and over our Roads. The income from freight distributed from Nashville, Louisville aod Cincinnati, is encouraging and increasing. We have rcoeived our full share of busi ness passing between the interior and the Eastern cities, by the way of Charleston. Freight received from Atlanta & Wen Point Railroad has fallen off considerably, but this has been made up in part by in creased freight delivered to that Road. The completion of tbe Selma, Rome & Dalton Railroad opened up another field for competition, which has been well can vassed by all interested, with sitislactory | results to our route. The quantity of Cotton transported the last year was something less than for the year preceding, being 104,372 bales, agamst 112,708 bales for the year ending Ist April, 1 1868. In view of which, and the addition i al fact that the average of rates would be j less for the year ending Ist April, lS6y, you will perceive that no p irt of our in creased earnings have been derived from the carrying of this important staple, upon which heretofore the Roads in this State were to a great extent dependent for their prosperity, and still almost as important to their success. From the quantity of Fertilizers distri buted during the past season, and the breadth of land said to be in cultivation, we have good reason to hop'e for increased business in this department after the gathering of the next crop. To cam the amount of gross receipts reported, required an increase of 120,099 miles in the mileage account, which is about 20 per cent, over the preceding year, while the increase of gross earnings was only about 10 per cent, for the same time, showing the strong competition that had to bp met in order to maintain our local and increase our through business. MACON & AUGUSTA RAILROAD. The receipts of this Road in itsuufinished condition have been sufficient to it s operating expenses,including transportation and Road Way, and will do a largely increased busi ness as soon as it is finished through to Macon, which, I am informed, will now be vigorously prosecuted. Several of the bridges on this Road will require extraor dinary repairs during the current year, and with the means at command, I am confi dent it would prove to that Company economy in the end to replace some of these bridges with culverts and embauh ments. ROAD WAY. We have laid down during the year, 124 miles of new iron on the main line, making in all 474 miles of new iron -laid down since the close of the war. Besides which, we have repaired in our shop at Union Point, 2,350 rails, or about 54 miles, at a eost of $6,100, or a fraction over one-third cost of re-rolling, which has been charged t o operating expenses. Our Road Master, P. W. Printup, Esq., reports that “this shop has proven to be valuable to the Road, aud would recommend that It *be kept in full blast.” But I am not sure that the rails mended have worn long enough to establish a success in mending, but the effects of service on such rails will be closely watched and the merits or de merits of the work proven. On some Roads the plan has worked well; on others has not met the expectation of the managers. New Water Tanks have been built, at Fifty Mile Post,"Barnett, Seventy Mile Post, and at Union Point. New Water Stations have been put up at Union Point and Alcova. The Road Way, including track and structures, have been greatly improved during the last year, and are in a safe con dition, but the track requires a good deal more of new iron to make it smooth and place it in first-class condition. Our liberal use of cross-ties since the close of the war has placed the superstructure of Road way, so far as timber is concerned, in a very fair condition. The wise policy of restoring the proper ty of the Company to first class condition gradually, so as not to interfere with reasonable dividends to tho Stockholders, and not to increase the Company’s liabili ty, has been observed. BRIDGES AND DEPOTS. All the Bridges on the main line are in first-class condition. Since last Report was made, Oconee River Bridge has been well covered with cypress plank, tin gut tering, and all well painted. The few trestles on the Road have received proper attention. During the last year, we have built a very commodious and substantial freight house, and offices for the accommodation of Agents and Clerks, at Atlanta, which does credit alike to the architect who plan ned it, the contractors who erected it, and the Company that paid for it. The build ing complete, including expenses, cost about $33,000. We have also fully completed the ele gant Round House at Atlanta. A similar one is badly needed at Augusta, which it is proposed to build as soon as practica ble. LOCOMOTIVES. They have performed promptly and sat isfactorily all the service during the past year, and notwithstanding the heavy de mands upon this department, as shown by the increased mileage, we find their condi tion materially improved at the close of the year—the Master Mechanic’s Report showing 25 in good order, instead of 17 at making of last report. The following En gines have been renewed in tho Company’s shops during the year at heavy outlay, be ing in some instances almost equal to re building, to-wit; “Gen. R. E. Lee,” “George G. Hull,” “W. M. D’Antignac,” “Philadelphia,” “W. D. Conyers,” “E. E. Jones,” “Liberty,” “Tennessee,” “R, Peters,” “G. W. Evan,” “G. T. Jack son,” and “James Buchanan.” Besides which, a large amount of ordinary repairs have been done on other Engines, improv ing their condition. CARS. This department continues to meet promptly the demands upon it, but some * addition to the number of Cars would enable the management to perform the service, when pressed, with great satisfac tion, and give better opportunity for ex amining and repairing those in sendee, thereby lessening tho expense of this de partment. In addition to renewing a large number of tho old stock, the follow ing new Cars have been turned out of the Company’s shops during the year, to-wit : Ono first-elass Passenger Car, two Bag gage Cars, one Shanty, and twenty-eight Box Cars; besides re-building two first class and two second-class Passenger Cars. Several Cars in each class have been thrown out of service. In rebuilding the old stock, the original numbers are pre served, and we now report the following on hand : Passenger Cars 23 Baggage Cars 10 Box Cars 292 Coal Cars 18 Piatform Cars ..100 Shanty Cars 14 Cab Cars 14 Stock Cars 27 As suggested in report of last year, pay ment on account of restoring property has been “materially reduced.” I request to refer to the annexed detail ed statements of receipts and expenses, and table exhibiting the condition of Loco motives, and tbe eost of work, ordinary I aud extraordinary, done to each for the year ending 31st March, 1869. The trains have run with commendable regularity and safety. No accident occur red during the year requiring special re marks. Our business relations with the officers and managers of connecting railroads have been of the most satisfactory character. Since my acceptance, in September last, of tie Presidency of the Nashville & Chat tanooga Railroad Company, the details of management on your road have been per formed maiuly by 8. K. Johnson, Assist ant Superintendent, with groat energy and promptness, and, I trust., to the satis faction of all. And I bear willing testi } many to the good conduct, cheerful, I prompt, and intelligent discharge of duty, Iby the officers, agents, and other em ployees, to whom the Company, to a con : siderable extent, ia indebted for its con tinued prosperity. Respectfully submitted by Your obedient servant, E. W. Cole, Gen’l Sup’t. The Monthly U. S. Debt Statement. —The total debt for March Ist, should be: Principal $2,618,541,382 04 Interest 45,491,506 08 Total $2,665,032,888 12 lash in Treasury 116,235,497 03 Actual debt $2,548,797,391 09 Debt on Ist April 2,525,196,461 74 Increase $ 23,600,929 3 5 Mr. Boutwell will not relish such figures as these. There is a difference of $30,000,- 000 between the actual debt bearing coin interest and the published statement ofthe same. If corporations or a citizen owes an interest of thousands or millions it is only fair to add interest to principal in making up the record, and this is just what the Treasury Department does not do. With the May interest out, the net gold balaqcc in the Treasury is about $68,000,- 000, aud the July interest will equal the customs for May and June, while current expenditures will equal internal revenue receipts for the same time. The question is asked, will the expeditures in the fiscal year 1869-70 be reduced in the same pro portions that Congress reduced appropria tions? Congress reduced the appropria tions thirty millions the Treasury estimates; and unless the War, Navy and Treasury Departments can make these re ductions good, we arc cooily told that Mr. Boutwell will have use for the gre iter portion of his surplus in paying the Defi ciency bills of the next Congress. This, then, is the old story—small appropriations and big deficiencies; pretensions and shams upon the surface, and startling realities when pay day comes ; the bud talk of reduced debts and large sums laid aside for a sinking fund, but, in the eud— words, words , WORDS. —AT. Y. Express,
