THE DAILY EVENING TELEGRAPH PHILADELPHIA, TUESDAY, AUGUST 27, 18C7. SPIRIT OF THE TRESS. EDIfCBIAL OPINIONS OF THB L1UDIKO JOPKNAL8 CPOR CDBBRNT TOPICS COMPILKD KVEfcT PAT FOB THB KVBMNO TELEGRAPH. Th Cry for Mora Carrency, From the iV. Y. Cbro. un i Ftn. Chronicle, There are two opposite errors of inflation and excessive contraction into which those financial theorists are apt to fall, who do not keep distinctlj in view the great fundamental laws In monetary science relative to the amount of currency required by any country Where commerce and industry are free and active. Of these laws, one of the most im portant lies at the foundation of what is called the theory of contraction. It may be expressed as follows: "The value, or purchasing power, of paper money varies inversely with its volume." If you increase the volume of paper dollars afloat you reduoe the value of the paper dollar, and, conversely, if you want to augment the value of the paper dollar, the only way of doing so is to lessen the aggregate in circulation. In other words, a depreciated paper currency like ours can be raised to par with gold by no method we can possibly adopt so long as we do not bring into play the principle of contraction. An eminent au thority on practical banking questions gives another view of this Bubject. "The only means," be says, " by which specie payments can be reached, is by retracing the steps by which specie was abandoned as the standard. As prices were advanced by the manufacture of hundreds of millions of paper tokens called by law money, swelling thereby the volume of the currency, and decreasing its value a3 compared with fixed property, so prioes can only be restored to natural values by recalling the paper tokens issued under the pressure of the Rebellion. As the legal-tender paper is cancelled, market values will recede, and by no other process can this desirable result be attained. Upon this financial authorities agree, and the only point of dilference is as to the time when this withdrawal of legal-tenders can be made most safely." Redundancy of the currency then brings depreciation and depreciation brings high prices. Consequently, to depress high prices we must correct the evil which has caused them, namely, redundancy of paper money. And the obvious way to do this is to call in and cancel the over-issues. The second great law to which reference was made is that "the money market," as it is called, that is, the movements of capital be tween lender and borrower, is "disturbed with every disturbance of the volume of the cur rency." If you augment the currency you stimulate the movement of capital, and "money becomes easy." If you diminish the currency afloat, you arrest or check the movements of capital between the lender and the borrower, and "money becomes stringent." In this re ciprocal interaction between the volume of the floating paper money and the move ments of capital in the loan mar ket, we find an explanation of the great activity of business of all kinds during the extravagant inflation of our currency in 18G3 and 1S64, and of the depression and gloom which we sometimes sullered by the slight contraction which has been effected since the war. Those acquainted with the commercial history of England daring the second and third decades of this century, will call to mind frequent illustrations of this principle. For almost invariably the alter nate depression or activity of business re sponded to the enlargement or diminution of the bank issues as certainly and as regu larly as its correlative eil'eut in the domain of physical science. From all this it follows that if we could at pleasure contract the currency sufficiently, we might resume specie payments immediately, and that the chief if not the only reason why we cannot immediately call in and withdraw one hundred millions or more of our currency, so as to make the outstanding greenback dol lar worth par in coin, is that before we had gone far, before we hadwithdrawn more than a few millions, the money market would be thrown into confusion, the movements of capital between lender and borrower would be paralyzed, business would be at a dead lock, and the policy would have to be reversed amidst the execrations and the upbraidinga of the whole nation. To adopt such a policy, and to attempt to carry it out, if such an attempt could in this country be carried to such lengths we Lave supposed, would inflict mischief on our trade compared with which those resulting hitherto from our paper money inflation are comparatively small and in nocuous. A third law relative to the currency, to which, at present, we need only refer briefly, is that "Contraction of the currency must be slowly, and gradually, and skilfully done, or it cannot be done at all." Under a despotism, indeed, where the decree of the master is everything and the groans of the people are nothing, such a policy might be carried to great extremes, but the failure of Russia some years ago to reform her currency is n memo rable example that even by an absolute sove reign financial laws are too strong to be re sisted, and will claim their rightful homage, however they may be ignored. There is, however, another law about the currency which we must not omit, as it has been very much abused and misapplied. It tells us that "the value of paper money varies with the demand and the supply." Thus a depreciated paper money may appreciate if the demand is increased, even if the supply should remain stationary. We well remember how, after the battle of Gettysburg, and after several other decisive events of the war, the price of gold went down, and kept down for a considerable period. The reason was not found in the smaller volume of the cur rency, but in the larger field for the use of that currency. Jn this law we find an explanation of the fact that gold is not now selling at 2K), although the volume of our currency is twice as large as before the war. More currency is wanted now. The field for the use of currency is larger. The wealth, the commerce, the activity of the country require more currency to fulfil the functions for which money is used. From this law the deduction has beeif made that the best way to specie payments although it be the longest way in to grow up to them. The advocates of this view maintain that we should not con tract the currency, but should keep its volume stationary at about its present level, not suffering it to be increased At all, and waiting till in ten, or fifteen, or twenty years, the erowth of the country, and perhaps the depreciation of gold through the immense productiveness of the mines, should gradually diminish the margin of depreciation, and gradually bring up our cur rency to equality with gold, or else brin" down gold to equality with our eur reiier We do not propose to offer at present nv remarks on this theory. We only place beside it by way of contrast, a statement which we were sorry to see in a speech, by Mr. Tendleton, a few days ago. "The condition oi the country," he says, "could bear an in crease in the currency. The ravages of war at the South the destruotion of capital there the loss of houses, horses, cattle, agricultu ral implements the scarcity of provisions the enfranchisement of the negro the import ance of setting the whole population to labor at once create a demand for more currency, livery interest there would be advanced by the stimulating effects of an enlarged currency." In regard to the two errors to which we referred at the outset, we conclude that on the one hand the contraction of the currency, however necessary, must not be pressed too I far or hastened too rashly, lest we introduce fatal disturbance into the money market; and on the other hand we must not allow the : clamor for more currency to prevent our seeing that more paper money means more inflation, more depreciation ef the currency, a larger premium on gold, higher prices for all the necessaries of life, and a departure to a still greater distance from the standard of coin. The Situation. PVom the A'. Y. Tribune. The developments of the last fortnight at Washington and New Orleans demand a graver and more thoughtful consideration than they seem to have generally received. Let us con dense their most salient features into a few lines, viz.: 1. The President informs Secretary Stanton that his resignation of the War Department would be acceptable. 2. Mr. Stanton replies that he considers it his duty to hold on. 3. General Grant advises Mr. Stanton that the President has requested him (Grant) to take charge of the War Department pro tern., and that he has consented to do so. 4. Mr. Stanton responds that, such being the case, he gives way. 5. General Grant being installed at the War Office, he receives and publishes an order from the President that General Sheridan be deprived of the command at New Orleans, and that General Thomas be Bent there instead. 6. General Thomas telegraphs that he is sick, and cannot go to New Orleans. 7. It is intimated that General Hancock is to be sent instead. 8. General Sickles, it is confidently stated, is to be mustered out of command in the Caro linas, and General Meade or General Canby sent down to replace him. 9. General Pope, commanding in Georgia and Alabama, has warning to set his house in order, as he is to be superseded as soon as may be. 10. General Howard, chief of the Freedmen's Bureau, is to be supplanted directly by Gene ral Gordon Granger, who is only a Colonel in the regular service, who got up the Johnson Soldiers' Convention at Cleveland last year, and who has ever since been revolving about the White House, and attending to politios, though ordered to join his regiment, which is on duty in the West. 11. The National IntnUiyc.nr.er, whose editor is the President's confidential organist, calls for the resignation of the residue of the Cabi net, indicating Governor Sward a3 the mem ber whose place is most urgently wanted. 12. The Rebel and pro-Ilebel element, North and South, is electrified by these movements into a preternatural activity and confidence, and is stimulating the President to go ahead in the course on which he seems to have entered, claiming General Grant as in full sympathy with this reactionary career. Such are the leading facts. We need only add that no one has ever yet called Hancock, Canby, and Gordon Granger radicals; and no one pretends that Sheridan, Sickles, and Pope have offended otherwise than iu giving an active, hearty support to the Reconstruction policy of Congress. What, then, do these facts portend 1 We can understand them no otherwise than as the opening of a new and desperate struggle to arrest the reconstruction policy decreed by Congress, and, if possible, defeat and subvert it. To this end, we infer that it is deemed necessary to hurl from office every radical whom the President or bis Cabinet c an reach, but especially those wielding military power over the South. We judge that this final struggle is to be far more bitter, more violent, more proscnptive, than that ot lob. Especially are the extraordinary powers conferred by Congress on the military com manders at the South to be transferred to the hands of "conservatives" of caste and negro bate to the very utmost. All the still vast patronage of the Executive is to be wielded in aid of resistance to any suoh reconstruction as Congress purposed, and as Sheridan, Thomas, Sickles, Pope, and Howard were laboring to effect. The end hoped for is a political revolution in the North, and a rejection of the conditions of restoration prescribed by Congress in the South. Mr. Johnson's backstairs counsellors doubtless assure him that, if the whole patron age of the Government is transferred to Democratic hands, they will thereby be en abled to overbear last year's moderate Repub lican majorities in New York, New Jersey, Pennsylvania, etc., and thus Becure a Repub lican defeat in the 1 'residential contest next year. Meantime, reconstruction is to be post poned or defeated at the South, with intent to take advantage of the expected Democratic triumph next year, and so, while enfran chising the Rebels, remand the blacks to per- i 1 f : e , . i i jieiuui Eeriuum, n uoi virtual slavery. Such appears to be the programme of the new struggle which Mr. Johnson has opened with the supersednre of Stanton by Grant at me war twice, mat it will be fierce and vehement, few will doubt; but let us firmly resolve that it shall be marked with no blood shed, but that all shall implicitly abide the deliberate judgment of the people. Hapld and Startling Progress or our Great Revolution. From the JV, Y. Herald. On we march ! The negro cloud still hangs upon our political horizon and threatens the nation. The radicals desoeud from great legis lation to the petty passions of party politics, and are bent upon absorbing in the one con trolling idea the whole force of the Govern ment. Fortunately, the executive power comes to the rescue and stands between Congress and the national suicide they would commit. This is clearly shown by the masterly answer of President Johnson to General Grant, in the correspondence of these olficials relative to the removal of Sheridan, General Grant evidently felt the force of the demand which the radical party was makiDg upon him to place himself right with them, and seized the oppor tunity thus unwittingly given him by Mr. Johnson. The latter, however, was not un equal to the task of parrying the thrust, and in his answer to General Grant gives us the best State paper and the most exact explana tion of his position that have been issued from the Executive Mansion during his administra tion, ihe General, true to the instincts of the soldier, merges too much of military feel ing into bis remonstrance. He apparently forgets what we have for some time past been advocating that the removal of Sheridan changes no law, alters no result. To imagine that any one man is absolutely necessary to the preservation of our institutions or the gov ernment of any section, is to forget the funda mental elements of republicanism; merge prin ciples into men; give rule to the latter; ignore any innate force in laws themselves, and maroh the people at a double quick to military des potism. In this view alone we applaud the removal of Sheridan; for the political cry raised by the party in power shows how closely they are treading upon the dangerous ground we have designated. A brave soldier, indeed, is Sheridan, and the President pays a just tri bute to bis worth; but it must be a principle of our republicanism that no man is abso lutely essential to us. This lesson we must teach at once. Ignoring it, we touch the bor der of a dictatorship and its inevitable se quence. Andrew Johnson attempted at first to seize the three branches of Government, and embody their forces in himself. He failed. Congress has lately tried to do the same. They, too, have failed. All this shows the strength of our Government, and the terrible strain to which it may be subjected without breaking. It is useless for Congress to hope that by any enactment they can usurp all power. Their efforts to break the executive branch by split- tine it into fracments is in every sense illegal, and to be deplored by every man whoseeks the general good instead of political victory. The desire, moreover, to force to the surface a vast negro element untrained,uneducated, unfitted to control themselves, much less legislate for those who have just set them free is the mad dest phase of a revolution which is urged on With a partisan violence which forgets, in its present success, that it must finally bring reaction which will be terrible to both white and black. The former will dry up his sym pathies for a race which is forced so rapidly upwards that sympathy now turns to disgust The latter, taught that it is his color that gives him merit, will sink to the level from which, in common with ignorance of any color, he must slowly march upwards. Here he too will be filled with disgust; disgust for the white who inflated him; disgust that he has tasted at a spring he must leave and after wards reach by long years of toil; disgust that, after all that has been told him, brain is the measure ot the man. 1 he radical party, in forcing this black element into such prominence, appear only to elevato It the higher that the reaotion may drop it the lower. Mr. Johnson now holds in his hands the forces that can resolve this problem of recon struction. If he will only rise to the demands of the occasion, he may restore himself to the confidence of the North. His letter to General Grant is full of executive power and a deter mination that it shall not be wrested from him. The whole common sense of the country sus tains his effort to keep his poise despise the desire of Congress to overturn him. Let them impeach him. He may challenge it and win. Let him overturn the clashing elements in his own Cabinet; the country will applaud. Let him drive back the black cloud that threatens both North and South; ho will receive all aid. President Lincoln issued an emancipation pro clamation for the blacks; let Andrew Johnson isHue, by universal amnesty, an emancipation i for the white portion of the population of the United States. The Salzburg Conference. From the A. Y. Iribune. We have another cable despatch on the re sults of the late Salzburg Conference. It pre tends merely to give prevailing rumors which, we hardly need repeat, lack confirmation. This last version of the conference fully confirms the previous account of a full agree ment of the two Emperors as to the South German and the Eastern questions. As regards the former, it is said to have been arranged that the States forming South Germany shall remain in the Zollverein bo long as Prussia abides by the treaty of Prague. Inasmuch as no intimation has thus far been given that any of the South German States have been gained over to the plan of a South German Confedera tion, it follows that France and Austria under take to dictate to both Prussia aud the Gov ernments and people of South Germany what course they are to pursue in the question of German unity. This would be a daring and direct challenge to Prussia. In the Eastern question the two Emperors are said to have agreed to resist any interven tion. es no nuropean power has been charged with a design of intervention except Russia. the Russian Government must regard such an agreement as a direct attack upon its foreign policy. In addition to the South German and the Eastern questions, those of North Schleswig and of Mexico are reported to have come up for discussion. With regard to North Schleswig, the Emperor Francis Joseph is to offer his good services, and Denmark is to be advised to make concessions. Denmark, however, had pre viously secured the good services of Russia in effecting a reconciliation with Prussia, so the counsels of the two Emperors will be too late. Of still less real significance is the reported agreement on the Mexican question. The body of Maximilian is to be demanded, and the citizens of both empires are to be pro tected. It will probably need a much stronger inducement than either of these matters affords to induce a European sovereign to risk another intervention in Mexico. The semi-official press of Berlin fiercely de nounces the new plot of Napoleon against the German nationality. It is feared iu Jierlin that the South German Governments may not be altogether hostile to the plan. The rela tions oi Prussia to both France and Austria will henceforth be openly inimical. It is not likely that the Salzburg Conference will at once lead to war; but, on the other hand, it will make a peaceable solution of the question of German unity almost impossible. The President, Grant, aud Sheridan. fYom the N. y. Evening Express. The corespondence, in another column of the Express, will be read with interest. It shows just how prompt General Grant was to act in behalf of Sheridan and perhaps this will pacify the radical enemies of General GranU-and also how prompt the President was to maintain his own authority. The reasons of the latter for removal, we submit, are unanswerable, both on the score of Gene ral Sheridan's uufitness for the place, and the tact that a man of better temper and as good abilities would be selected to succeed him, and on account of the effect of suoh an ap- fy1 ntment upon the well-disposed people of oi Texas and Louisiana. " there were not remaining on our little spot of earth and water "as eood fish as swim in the sea," if only General Sheridan was the right man in the post of Military Commander in the Fifth Military District, then, indeed, there lnitrht be some reason for the clamor raised by Sheridan's friends; but the rresddent shows and proves that there are just as wise and brave men in the service, j just as good friends of the policy of recon- struction, as Ueneral Sheridan. We do not care to go over the reasons of the President. but they will commend themselves to almost everybody, except the impeachers and creecbers against the Executive. The great fault with President Johnson is, that he acts too late. His long deliberation has been that of a man who, after knowing what is right, hesitates for a long time in the performance oi ui uuiy. ine oia practice of Crockett was the true one: "I leave this rule for others when I'm dead, Be sure you're rlgm. Mien K, ahead." American Cotton The Crop and the Prospect. From the iV. 3'. Time. We have examined very carefully the crop prospects of the Southern States, as presented by the local journals, and compiled by those of the cotton ports of that sectiou. As a re sult, we are satisfied that the cotton crop planted does not promise an increase over that of last year, even without the usual accidents of flood, worm, and frost. The principal reason for this opinion is found in the deterio ration of the open land, and the fact that there is no fresh land being added to the arable area. Then there is a withdrawal of labor for several reasons. There are comparatively few females or children employed in the field, and the freedmen prefer such employments as are consummated in less timo and with more cer tainty than a cotton crop. Our information leads us to doubt whether the injury by cotton-worm is so great as some alarmists suppose. The season has been so wet as to postpone the crop of worms (the first instalment has not seriously diminished the crop), and it will be too tar matured for the next generation of worms to injure it materially. Indeed, some planters say that the worm, by eating away the foliage, admits the sun to the later bolls, and so stimulates the maturity of a portion of the crop which is ordinarily liable to frost Our conclusion, therefore, is, that the present crop will not materially differ in weight from that grown last year. It must be remembered, moreover, that there is very little of the old crops on hand, so that our exportable stock will neither in weight nor value equal that of last year. An enumeration of the causes of diminished crop would be incomplete without reference to the withdrawal of Northern capital aqd en terprise largely invested last year in cotton culture, There can be no doubt that this adventure has been too generally attended with disappointment, to attract or retain in terest when so many opportunities for invest merit are occurring elsewhere. The influence of American cotton upon the market prices of the world has greatly diminished. In former timos any one ot the accidents which has befallen the crop of this year would have affected the prices materially in the markets of hurope. lliese calamities combined have, however, failed to disturl the equanimity of the cotton spinners. Thoy have been trained by the late war to provide against a crop failure, and an immense lin pulse has been given to Indian production by the English railroads which now connect Madras, Bombay, Delhi, Calcutta, and Nag poor with each other, and lay open the whole of British India from the mouth of the Ganges to the Ghauts. We may note that the East Indies have now more miles of road in opera tion than Spain, Italy, Austria or Russia, and nearly half as many as France. Tne liberal aid given by the British Government, which guarantees five per cent, on all approved sub scriptions, will insure the extension of this system, already so profitable as to have in volved little or no liability to the Government. The effect of such an inducement to extended cotton culture has been enormous. The cot ton commerce of Bombay alone has within a few yeais increased from six to one hundred millions of dollars. The supply of cotton de rived by England from the United States was in 1SG1 seven out of eleven thousand millions of cwts., or seven-elevenths. Last year the whole supply being 11, 400,000 cwts., the United States has furnished 4,000,000 cwts., or four elevenths nearly. This is a singular reversal of the proportion in which the United States and countries other than the United States have contributed to the cotton supply of Eng land. It is sufficient to show the comparative indifference with which England now regards the worm ravages, or short crop of the United States. As the late war probably contributed to plant the cotton culture in India, every short crop in the United States tends to estab lish it more firmly. It will thus console the Knghsh spinner tor any temporary advance iu the price of cotton. Is it not, indeed, impos sible that, when the home product of England shall be adequate to her supply, she may even impose conditions upon the import of Ameri can cotton r The reversed relations between the American planter and the English spinner show at least that the English dependence may very Boon terminate, and that cotton may be produced cheaper and more abundantly in India than here. Such reflections tend to show the importace of restored friendship between the capital of one section and the labor of an other. If the cotton manufacturers of America expect to compete for the market of the world, they must have cheap cotton. Interior Texas must be opened up by rail as into the Oude and Punjaub. Our Government, instead of selling out the Southern railways as a peualty for public offenses, should reinstate and aid them a3 a means of maintaining American cot ton supremacy. There should be a convention of cotton spinners and cotton planters to confer upon the extraardinary causes which have prostrated each from a position of prosperity, and to devise means by which the cotton con test with England may be waged in the mu tual interest of each. MILLINERY, TRIMMINGS, ETC. MRS. R. DILLON, NOS. 813 AUD 831 SOUTH STBEET, Hat a handsome assortment of BPJ1INQ MILLI- Kf BtUeV, MlBHea. and Children's Straw anJ Fanoy lionppia and llta of the latest style. Alito, fcllka, Veleu. itlubous, Crapes, Feathers, J lowers. Frames etc. 811 yjOURNI N C MILLINERY. ALWA YB ON HAND A LARGE ASSORTMENT OI MOTJXXINI1VG BONNETS, AT 827 flm HO. 01 WALNUT BTKEET. MAD'LLE KEOCH. o O B N B X C HANOI WAQ MANUFACTORY. JOHN T. BAH- CO., BKMOVKD TO N M. Cornel Of W AKKKT aud WATER Streets. H. JL. corner in "YuUudelphia. DEALERS IN BAUS AND BAGGING OI every DetMTtpilon, lor Grain, Flour, SupHr-Phoaphuw of Lime, Bone Large and small GUN . N? 'bags (OonsUntly on band. AUtO, WOOL SACKS. 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I SOl'TU SECOND STREET, Oflprs an entirely new and most carefully selected stock of AMERICAN AND GENEVA WATCHES, JEWELRY, SILVER-WARE, AND FANCY ARTICLES OI EVERY DESCRIPTION, suitable FOR URIDAL OR HOLIDAY PRESENTS An examination will show my stock to be ansui putted In quality ana cheapness. PHrtlcular attention pain to repnlrlng. 8 16 G. RUSSELL & CO., NO. aa NORTH SIXTH STREET, IMPORTERS AND DEALERS IN FINE WATCHES, FBENCn CLOCK, UOLD JEWELRY, AND 62l SOLID SILVER-WARE. HENRY HARPER, No. 5QO AHCH Street Manufacturer and Dealer In WATCHES, 1'INE JEWELRY, SILVER-PLATED WARE, AND S I SOLID SILVER-WARE. AMERICAN WATCHES, I affi ww " a V A. BlikUl J JT 1 j rThorhoat (ha smvlrl tnlrl o UAn- ni C. & A. PEQUICNOT, MANUFACTURERS i)F WATCH CASES, No. 13 Soutb SIXTH Street, 8 8 M(inuluctorv,Ko. ii. i. i,JfTJI Street. FURNISHING GOODS, SHIRTS,&C. JERINO GAUZE UNDERWEAR OF CARTWRICiUT AND WAR EB' CELEBRATED MANUFACTURE. MERINO GAUZE UNDERWEAR In every variety of size and style, for Ladles', Gents', and Children's Wear. HOSIERY. A large assortment ot HOSIERY ot English and German manufacture, In socks, three-quarter socks aud long hose. LOVES, In White, Bufl, and Mods Color. For sale at HOFM ANN'S Hosiery Store, IBtuthQ NO. NORTH KIUIITH STREET. J. W. 8COTT CO., SHIRT MANUFACTURERS, AND DK4LKHS IN MEN'S FURNISH ISie UOODI NO. 814 CHEMNUT STREET. FOUR DOORS BELOW THE "CONTINENTAL, b 27rp PHILADELPHIA., PATENT S1I OU LDER - SEAM SHIRT MANUFACTORY, ANDUENTLKMEft'M FURH ISHINU STORB PERFECT FITTING SHIRTS AND DRAWERS UjrcIb Iruui uieunuifinent at very short notice. AH other articiea ot GENTLEMEN'S DRESS OOuLt iu lull van, ly. WINCHESTER A VOH 1 1: No. 7i CHEcNUT Street -VT- M GROCERIES, ETC. gU PER IOR VINEGARS. UEKFINF. FRENCH WHITE WINK AND rtBEOLII CIDER VINEGARS, I OR SALE IiY JAMES R. WEBB, 14f Corner WALNUT and EIGHTH Slav p;V KO. 1 MACKEREL, I IV KITTS, JVNT RECEIVED. ? A EXERT C. ROBERTS, Dealer In Fine Groceries, 11 78rp Corner ELEVENTH and VINE Sla. HARDWARE, CUTLERY, ETC. gTANDBRIDQE, BARR & CO., IMPOBTEES OF AND t BALERS. IX FOREIGN AND AMERICAN HARDWARE, NO. IStI MARKET STREET, OflVrt or sale a large stock ot Hardware aud Cutlery, TOGETHER WITH 1000 KEGS NAILS AT REDUCED PRICES, f 17 thaw P CUT L E & Y. VcgCsT A fine assortment of POCKET an . I TAB1,K CUTLERY, RAZOIW, t A RAZOR STROPS, LADIES' 8CIH a i an iaO bOKS, FAFKR AND TAILORS' SHEARS, ETC., L. V. HELMOLD'8 Cutlery Store, No. 138 South TENTH Street, 11 Three doors above Walnut. 9 STOVES, RANGES, ETC. CULVER'S NEW PATENT DEEP BAND JOINT HOT-AIR FURNACE. RANfiES OF ALL SISEtV, Also, Phllegar's New Low Pressure Steam Hea.-.:nsj Apparatus. For aaie by CHARLES WILLI A MS, No. 118 MARKET Street, S 1 I THOM'SON'b LONDON KITCHENER; OR EUROPEAN RANGE, for Families, Ho tels, or I'll 1)1 ic Institutions, In TWENTY DIF FERENT bIZKH. Also.PhlladelDhlaRanaea. Hot-Air Furnaces, Portable Heaters, Lowdown Grates, Fireboard Stoves, Bath Boilers, Stewhole Platm, Boilers, Cooking stoves, eta, wholesale and retail, by the manufacturers. SHARPU A THOMSON, 627siuthHai No. N. BFXXIND Street. HOOP SKIRTS. AOQ HOOP SKIRTS, 'OWN MAKE." 628 HOPKINS' It affords lis much pleasure to announce to oar numerous patrons and the public, that In conse quence if a slight decline In Hoop Skirt material together with our Increased facilities for manufac turing, and a strict adherence to BUYING and bih-LLINO for CASH, we aie enabled to oiler all our JUSTLY C'KL t:r HATED HOOP SKIRTS at RK DVVKV PRICES. And our Skirts will always, as heretofore, be liund In every respect more desirable, and really cheaper than any single or double spring Hoop bklrtln the market, while our assortment la unequalled. A Iho, constantly receiving from New York and th Eastern States lull lines ot low priced Skirts, at very low prices; among which Is a lot of Plain bkirlsat the following mtes; 16 springs, 5&c.; vn spriiim, 6&c; 'JS springs, 76c.; xti springs, boo.; at springs, 86c; and 49 springs, im bklrta made to order, altered, and repaired. Vhole sale and retail, at tlie Plrlluilelpbla Hoop bklrt Em porium, No. B ARCH ST'-bt, below Seventh. 6 10 tax rp WILLIAM T. HOPKINS. rn.u itKui nn:ii i it s ALE OF RAILROAD PROPERTY AND FUANCUIMEsl. Notice hereby given that by virtue of a decree of the Supreme Court ot Pennsylvania, we wilt expose to sale at Public Auction, AT THE PHILADELPHIA EXCUANOE, In the City of Philadelphia, State of Pennsylvania on the I5TII DAT OF OCTOBER, A. D. 1867, at li o'clock, noon, ot that day, all and singular the RAILROADS AND RAILWAYS, LANDS. TRACKS, LIN KM, HAILS, CROSSTlHiS, CHAIRS, SPIKES, FROGS, SWITCHES, aud other IRON. BRIDGES. WAYS and RIUHTS OF WAY. MATERIALS, HOUSES, MU1LD1NU3, SHOPS, PIERS, WHARVES, ERECTIONS, FENCES. WALLS, FIXTURES. DEPOT'S, RIGHTS AND INTERESTS, aud all and every other property and estate, real, personal, aud mixed, of, belonging or appertaining lo the RENO OIL CREEK AND FI1HOLK RAILWAY COMPANY, and all tbecor- f'oraie rights, franchises, and privileges of, or beloug ug lo the sal. Company, together with all and siiiku lar the Locomotive aud other Engines, Tenders, Cars, Machinery. Tools, Materials, aud Implemeuta, as wi 11 as malerluls lor constructing, repairing, re plaining, using and operating said Railroad aud Rail way. All of which suld property Is situate In Ve nango County, in theblateof Pennsylvaula.and being tlie sume property, rights, privileges, and franchisee which said Company, by Indenture ot mortgage, dated tltfi 'iiii day of May, A. D. lsiitt, and duly recorded la the olllue of the Recorder ot Deeds of Venango County aforesaid, In Mortgage Book No. 2, page W6, etc., on the 4th day ol June, A. D. 1H60, granted aud conveyed to the undersigned John S. Saueade, ir trui-t. to secure certain bonds therein mentioned. And whlcu the said Couioany bv ludenLura ni ninrt- gage, dated Api 118, 1SW, and duly recorded In theolflcs of aald Recorder ot Jjeeds of Venaniro County- atur. said, la Mortguga Book No. 2, pge 474, eio., on the 9th day of Apt il, A. D. lmx, granted and conveyed to Moms K. Jesatip, aud the undersigned WlliUm J. Rnrr. In trust lo secure certain debts therein men tioned. This sale will be made Under, aud lu pursu ance of a decree entered by the said Supreme Court of the State of Pennsylvania, on the Hd day of July A. D. 18117, lu a cause peudlng In equity In said court, utou a hill tiled by the said John S. bausade. Trustee against the suld Company, aud the said Morris K Jessup and William J. Barr, delendauts, uraviiuT iiiier alia, tor a decree of sale of the raid morttiaumi premises. Tht terms aud conditions of sale will baaj. follows: First. The mortgaged premises will be sold In one ffier'lcah "lrUCk U hheal u1 btl Second. Five per cent, of the purchase money shall be paldtotbe undersigned at the time of tue sale by the purchaser, and he must also sigu the leroia mi condltlous of sale, otherwise, the bald premises w 11 be immediately resold, 1J,".,'dTn" bl,,tnV .tne purchase money shall be CitS T MaWfiSf- Pbla, withlu thirty days from aud alter 'th. day of Ynu IA&L f, "ARR. Trustoo JOHN H. SAUZADE. TrUMLea. Pan apki.phia. July , i67. trustee. M. Thomas t Sums. Auctioneer o.... PKIVY WKUJB-OWNEKS OP PROPERTY The only place to get FrlTJ Wells a disinfected at very low pritea. " Unl aa . A, FKYSON, 1 101 wxwxvWS
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