THE DATin EVENING TELEGRAPH PHILADELPHIA, SATURDAY, FEBRUARY 13. 1869. srmiT or the press. Sp;Ti)R!x orrNioNH or ma i.badi.vo jocbssi prod ucB&Junr rorios com piled bvkbv DAT FOR TBI BVBNIKO TBLROBATa. IVllUlill? Ifni'Voltvs. Yt,wiMV. r. 'ii tbun,. The electoral votfH of tie States of New York, New Jorpey, Georgia, and Louisiana were stolen from rautaud CoHaxTind franda lently transferred to .Sermour aud Blair by Demociatio managers in the North, and by Rebel terrorists in the South. That la the short way of stallD an ionportatt fact. Poll the leftl voters of New York to-morrow, and it will appear that a majority of them con siderably exceeding ten thousand oast their ballot last November for Grant and Colfax. There is no doubt about this among intelligent politicians. A prominent judge in this city has boasted among his Democrats confederates that be oarried the State of New York; while an other Web. Demooratio official has proclaimed In Democratic circles that "It rested with ma to determine whether Iloffman should have thirty five thousand or seventy thousand in this city; and they had to get down on their knees to me to make it seventy thousand. The pro fessional thieves, burglars, and '"1$' who roted ten to twenty times each for Seymour and Iloffman, mainly plied their vocation la London before they were driven to seek here a safer field of operatioss; and very few of them are Irish, though the Irish have been wrongly charged with their crimes against the purity of the ballot-box. Fraudulent naturalization papers were made out by tens of thousands; some of them were nsed, and some not. Joseph tgaa, who has worked in Newoastle, Westchester county, for the last two years, but who had not been four years la the country, ana nai never de clared his intention to becomo a citizen, was supplied by the Democrats with a naturaliza tion certifloate, though he never applied for it; bo were two of his eons, who were still more recent immigrants, one of them a minor. Neither of these attempted to vote; but they were provided with naturalization papers on purpose to have them vote for Seymour, Blair, and Iloffman. Not less than lifty thousand certificates,eaoh as fraudulent as these, were gent ont from the Demooratio naturalization offices in this city; aud the ballots cast on these, with those of the "repeaters," gave Seymour and Blair the forty electoral votes Of New York and New Jersey. Georgia and Louisiana were carried by vio lence and intimidation, as New York and New Jersey were by forgery and lraud. The blacks of entire Congressional districts were kept away from the polls or ooinpelled to vote lor those who would deprive them of the elective franohiae by threats that they should be killed if they attempted to vote for Grant and Col fax. The proofs of this are as clear as sun light; they are as palpable as the fact that an eleotion was held. Whoever will glanoe over the returns from those States by counties and distriots must know that the results declared indicate the fears, not the wishes, of the colored voters. They voted, as they often refrained from voting, because to vote as they chose wonld subject them to proscription, Starvation, outrage, wounds, and death. Bat Grant and Colfax were nevertheless eleoted by more than two-thirds of the electoral votes. livery State but Kentucky, Maryland, and Delaware went really for them. No one disputes,' since no shadow of ground exists for disputing, their triumph. It seems to ns, therefore, that Congress might better devote its best energies to rreolnding in future such outrages aa vitiated the result in four States than to rejecting or correcting the votes wronefullv cast last December. Let the dead burv their dead, while we give attention and effort to the case of the living and practical Such seems to us the dictate of true, patriotic statesmanship; such we believe will be the judgment of the people. Concerning the Census. Vrom tm JV. Y. Tribune. A Bpeoial committee has been appointed to present to the House a plan for taking the next United States census. So many questions enter into any adequate report of a nation's growth, and so many others are involved in maturing any satisfactory plan for having that report aceurate, that we are glad to observe that the House has at the head of its oommit tee, in the person of General Garfield, one of its most studious and sagacious thinkers. Precisely what information shall be colleoted is a point on which we trust the committee will not fail to consult the exaoting demands of modern statisticians. It adds but a trifle) to the expense to include a dozen fresh subjects for the inquiries of the oensus takers; and we only need to avail ourselves of the best methods for collecting and classifying the facts thus brought in to secure the best, most com prehensive, and most minute picture of a great nation's condition and progress that has ever been preserved for the gnidanoe of her states men and the enoouragement of her people. Two things we want a system of schedules that shall be plain enough to avoid bewilder ing the census-takers or the people, and so arranged that their results may artmit of the most thorough classification; and, second, a system that, while satisfying these conditions, shall allow comparisons not only with the data furnished in our own previous census reports, but with the statistics colleoted by other nations. For the first of these we imagine that the committee will find a basis, satisfactory in many respects, in the labors of our late Census Office. In the other, the problem becomes more complex. Various congresses of European statisticians have been held to devise means tor securing uniformity, at least in the general outline of the systems adopted by the several governments; and the results of these conferences should be care fully studied. The effects of the war on population, on in dustry, on fiducatiou, morals, distribution of land and the like, will be the subjects concern ing which the revelations of the next census will be most anxiously awaited. A cognate topio of inquiry will betheeffeota of emanci pation upon the slaves, the masters, tbe pros perity of the South, aud the prosperity of the whole country. Scarcely less attractive is another broad field of Investigation, the bare outline of which we can only suggest by men tioning the late thesis of an elaborate Govern ment report, that, under the effects of an ex panded currency, protective legislation, and heavy taxation, tbe poor in this country have been growing poorer, and the rich richer; labor Las been oppressed; the laborer's wages have not kept paoe with the advance in the cost of Lis living, and capital has reaped un lnt rewards. On scores of points like these, growing oat of the war and connecting them selves with every class and every interest, the next oensus ought to give definite information. The judioious preparation of its schedules becomes therefore a work of the first impor tance, and to this we trust that the attention of General Garfield's committee may be care fully directed. Legislation at the lest can only map 6ut the outlines of the work; but everything depends on the judgment with which these outlines are marked. ' When and by whom the census shall be taken Is a matter of scarcely less concern. A Buegeftion, certainly quite plausible, has been I mal, that the assessors of Internal revenue, bv rvaton of their presumed Intimate ao- Uiiitance with most of the toplos on which information is to be collected, might very properly be charged with the work in their repetitive districts. One which we regard as f more importance is that, whoever does it, the arrangements shonld be such as to insure its being promptly done. If possible, the emsntitakers ehoiild make their returns within a week, or at furthest a fortnight, from the time they begin their task. To have all the fucs collected over the entire country on a single day would be still better. Then the work of reducing these returns and publish ing the results thould be peremptorily limited to a third of the time spent on the lat census. We want the facts before they are out of date. The subject is a broad one, and very many and complex considerations ener into it. We have hiuted at two or three of the mo3t, ob vious, in the hope that these may serve to impress upon the committee the gravity and magnitude of their task, and to stimulate in their aid the suggestions of thoughtful men throughout the country. Let Us Hare IYace." rromthel?. T. World. Before proceeding to comment on the dis graceful scenes of turbulence aud uproar which accompanied thecountingof the electoral votes, we will indicate our opinion of ihe legal questions, which have been rather con fused than elucidated by the disoussion in the House. The provision of the Constitution relating to this and all similar cases is the following: "Congress k1:k1! have rower to moke all Jaws which shall be necefHary and proper for CArry ii p into exposition tbe foregoing powers, and rM other powers veiled by this O-.nii'Untlou lu the Government nf the United Statos, or lu any cW j artmtnt or ollicer thereof." The President of the Senate is an officer in whom the Constitution vests the power of opeuitig the certibcates oi tbe electoral votes in the presence cl the senate and House of Representatives;" "and the votes shall be counted," the Constitution does not say by whom. Congress may regulate the mode of proceeding by law, if any regulation is neces sary; and such a law is binding upon the President of the Senate. But the concurrent resolutions, under which the Senate and House acted on the late occasion, are not such a law. The Constitution dec'ares that "Kvery order, rw'uuon. or vo'e to which the concurrence of the Si-mUt; autl House ol Hspre sentalivea mfiy be neces-Rry (i'X':?ptuu t ques tion of atlinururoenl) shn)l ba preet med to tbe 1'iesldcnt of U'.e United States; nd before the Game shall teke -llec sti-tli be approved oy him. or beliJE diSHvproveu t.y uim. Khali be repassed by two-tlmcl ot the Neuatenml House of representative, n tOMling to the rules aud limitations preboribeil in Mie cne of a hill." The concurrent resolutions, in thi3 case, were never presented to tbe. I'esident; they bad none of the vigor tnd binding force of law. They rested for such authority as they had on the power of each Lon&e to' make rules to govern its own proyeetLiigB, ana were oinaing on neither house any longer than it chose to adhere to them. The two houses may make a ioint rule for regulating the proceedings of each in particular cases; Int such a rule binds the senate only because the Senate adopted it, and the House only tcause the House adopted it; and either is at all times perfectly free to rescind it without the concurrence of the other. Eat until it is rescinded, it binds each, because each is bound by its own rules. The vote ef the House vo reject the eleotoral votes of Georgia did not rescind the concurrent reso lution on the part ci the House; and Butler was therefore all wrong in his obstinate inter ruption of the proceedings. It may be said that the vote ot the tionse cirtuaUy rescinded the rule; but that is a point of no practical importance, because what the House under took to do was to decide that the Georgia votes should not be counted; and the House, acting alone, had no jurisdiction over that question. Eutler's point that the Speaker had no authority to direct the Sergeant-at- 4rms to arrest a member of "the joint convention" was equally untenable, No such thing as a "joint convention" for counting the Electoral votes is known to the Constitution or the laws. Tbe language of the Constitution is, that the certificates shall be opened "in the pretence of the Senate and House of Repre sentatives;" that is, of the two branches of Congress separately organized. On this occa sion, as on all occasions, each is bound only by its own rules, and subject to the authority only of its own officers. The President of the Senate cannot direct the arrest of a member of the House; nor the Speaker of the House the arrest of a member of the Senate. If a mem ber of either is disorderly, he can be arrested only by its own Sergeant-at-Arms, acting under the direction of its own presiding officer. Eutler was, therefore, completely wrong in all his legal and parliamentary points. What, then, is the significance of this tnmultuens and most scandalous squabble.' It proves the existence of a dissatisfied, in flammatory state of feeling, which is ready to take lire on the slightest provocation. It betokens a great mass of pent-np passions, excited by differences which cannot be avowed, and yet sobnrn for an outbreak that pretexts for a quarrel are eagerly laid hold of because the real reasons must lie in concealment. Butler is shrewd in detecting motives and playing upon fancied grievances. He aspires to be the champion of the new administration. He has thus early detected a lurking jealousy between Grant and Colfax, both of whom wish to be elected President in lfc72. Wade and Colfax have lately become related by mar riage; and Butler having 6ucceded in making Wade a bntt of derision, has rendered it easier for Gram to neglect him in the bestowal of vtl .ee. Wade and Colfax have been both, in d.Jlrent way?, rivals of Grant. Waue wanted to mount into John Bon's saddle before the Chicago Convention, and it was surmised tea', be would use hts influence and patronage to promote his own interests in the Convention. It was a suspi cion of this that killed the impeaohmeut. Grant's friends did not want Wade to fill all the offices with icen whom he must retain or offend. Grant pre'erred to take the Presi dency fresh from the hands o' Johnson, whose appointees and supporters he could turn adrift with the certain o .incurrence of the Senate, rather than 'rem Wade, whose ap pointees the Senate might not allow him to disturb. As Wade spired to tkiin off the cream of the Federal patronage to Grant's disadvantage, Grant owes him no good-will; and Butler was sharp enough to see that to make him ridiculous would be an acceptable service to the new President. Colfax desires to lead the radicals and head oft' Grant for the succession. If the Senate, over which he is to preside, reiuee to repeal the Tenure-ol-Ofli e act, he hopes to ba nearly as powerful as Grant himself, even in this administration. Grant can neither appoint nor displace anybody but by Senatorial per mission; and Colfax is so wily, plausible, popular, and thoroughly radical, that ha does not despair of organizing a devoted olique in tbe Senate to favor his Presidential aspira tions. Grant has none of the arts of a dema gogue, in which Colfax is such an adept; he has never belonged to the Republican party; and ly wltholding his confidence from the radical Senators, he has excited so much dU- trnnt that CoUaX Will easily form a party ia the Senate. This nalvy, smiling demagogue baa already assumed to speak for the new ad ministration in a manner bo forward and om li ons that it cannot be pleasing to Grant. While the President-elect has preserved a studied silence and refused to deolare any policy, the abb-tongued Vice-President eleot has again and again addressed the public, telling what the eleotion signified and wht the Republican party intend to accomplish In the new admin istration. Grant is too prond aud reticent to openly complain of this; but he Is precisely tbe kind of man to be struck with its pre sumptuous unseemliness. What his own sence of propriety forbids him to do, though it would beoome hi in if it would anybody, Colfax steps forward ad does, forgetful that he has been elected merely to put questions in the Senate, and that Grant, If anybody, is authorized to declare the purposes of the new administration. Modesty and reticenoe may, or it may not, ba a proper rOle for Grant, but nobody can very well dispute that they would beoome Colfax, who is so ready to erect himself into an oracle. Batler, who is a quick, keen observer, has promply divined Colfax's aspirations and Grant's jealousy, and has titruck a chord which will reveiberate the dissonance. It matters little that he is all wrong in his par liamentary points; they are only pretexts. As a partisan of Grant, he aims to sot the House aud Senate by the ears, and to make it ap pear that the Uou3e, which immediately rep rerents the people, trusts the new President, while the Senate, with a rival of Grant at its future head, refuses its coufideno e and main tains a surveillance over his conduct. Butler has the sagacity to see that the Republican party oannot much longer hold together, and he aims to be on the side which the people will ultimately support. Mexico and the Foreign rowers. From Hie If. Y. Herald. Late European telegraphic news informs us that the "opposition" in the .French Corps LCgislatif demand a restoration of diplomatic relations with Mexico. They ask this under the plea that French interests will suffer if there is a longer interruption. Thus the "opposition" never fail to make a hit at the disasters of the Mexican expedition whenever opportunity offers. The fact is, moreover. that the reopening of diplomatic relations with Mexico is really necessary. Frenoh dreams in that direction wore rudely broken; but French interests are not so easily trodden tipon. There are very uiauy Frenoh subjects who were resident in Mexico at the date of the intervention and who were obliged to 11 y from the country. The Mexican Government has made a most sweeping confiscation of all their property without regard to their politi cal sentiments, and doubtless these are dis posed to make an effort to have it returned to them. Moreover, Frauce bad a large debt against Mexico at the date ot the intervention, not including the infamous Jecker fraud or the unfortunate acknowledged investment of over two hundred and fifty-two millions of dollars in the royal filibustering expedition of Maximilian. The entire European debts of Mexico at the date of intervention were about ninety-five millions of dollars, of which sixty six mrllions are claimed by England. England as well as Frauce appears anxious to resume diplomatic relations with the Mexi cans, and the British Premier lately stated that England was ready to do this "when Mexico aoked for it" a very foolish thing to state, considering the fact that Mexioo is so disgusted with herself and the whole of hu manity that she feels more exclusive than China, and would by far prefer never to see another foreign diplomat upon her soil. When she asks England to send a minister to her capital it will be when she is under an Ame rican protectorate. We advise France to wait for this same moment before she undertakes to accredit any Frenchman to Mexioo. There is no settling of this vexed Mexican question in any way but the natural one. If Europe will wait a little while, say from six months to a year, for us to get our new administration at work, we will give them a final and satis factory solution of the whole problem. The Spanish Cortes and Its Labors. From the If. T. Herald. The Constituent Cortes of Spain met Thurs day for organization, and the eyes of every European Cabinet are anxiously watching the result of their deliberations. The two im portant questiions to be decided are first, what shall be the form of government to re place the banished rule of the Bourbons; and, second, to whom shall be confided the execu tive power of that government. The elections which have recently taken plaoe in the Spanish peninsula have resulted largely in favor of the candidates put forward by the existing provisional government, and its mem bers will hold seats in virtue ot their eleotion by the capital. The ohoice of the presiding officer will indicate in some degree the temper of that body, bat not the final result, as very active diplomatic intrigues are on foot in every circle in Madrid to inliuence the question of the dynasty. Seuor Kivero is named in our cable despatches as almost certain to be the President of the Coites. . This body comprises in reality three politi cal elements, neither of which holds a ma jority of the Cabinet. General Serrano repre sents the old liberal union party wbloh so long endeavored to inodiry by peaceful means the policy of the ex-Queen, and carries great weight for his announced preference tor a monarchy. General Prim is the leader of the Progresista party, and as commander of the army, as well as from bis strong personal character, enioys a wide influence. Senor Ayola, Minister of Grace and Jasttoe, repre sents in '.the Cabiuet the democratio progre eistas. The admitted organ of the Provisional Government has announced that the Cabinet has settled upon its ohoice for tbe throne, but the name has not been given to the public Rumor has stated the Government candidate to be the Duke of Aosta. second son of the King of Italy, and supposed to be the prefer ence of the Frenoh Emperor; but from Thurs terday's complexion of things at Madrid, it appears that a majority of the Cortes are in favor of Ferdinand, the father of the present King of Portugal; aud next to hiiu stands the Duke de Montpensier. Meantime the project has been revived in Portugal of an Iberian union, which may be the secret of the strength el the Portugese royal house in Madrid. The wishes of Louis Ptapoleon will undoubtedly nave great tntlutuce in the discussions in Madrid; but it does not follow that they will control the choice of the nation. The Fpa nlards are a proud and warlike people, and very sensitive to any appearance of foreign inliuence in their domestic affairs. The first Napoleon found nothing but dioa-itor to his designs in Spain. His successor may be more successful. At this moment th move ments in Madrid constitute tha most iuiDor tant event lu' European politios, and will be tuuiempiaiea wun interest everywhere. The Slaltts of Ucorgln. From the If. Y, Timet. The position conceded to Georgia in the counting of the eleotoral vote for President seems to determine the onHtion until now in dispute in regard to that State. ' The fact that tta.vote was receive! and recoguued disposes of donbts as to its tltl to Congressional repre aentatlon. A State which may vote for the President must be in the Dniou; and, being in the Union, it has a right to representation in the Annate and the Uouie. Tbe joint resolution by which Senator Kd murjds hoped to escape the difficulty really amounted to nothing. There was not even ingenuity in the declaration that the Georgia Vote should be counted lr the resnit were not thereby affected, but excluded if the effect were otherwise. Its terms admitted of no other interpretation. Expoundiug them officially, the PreMdeit of the Senate Bald that thtir purport was, "that if the votes of the t tate of Georgia did not alter the result of the eleotion they miht be counted, and if they did alter the result, they were not to be counted." But the artifloe ia too puerile to ferve the purpose for whioh it was intended. For the right of a State is not contingent upon the political complexion of its vote. Whether it might elect Grant, or whether It might defeat bim, had nothing to do with the point to be deoided. That was a simple yea or nay on the question of admitting or excluding the vote. And when an affirmative decision was rendered, as it was on Wednesday, the ktalus of Georgia was practically settled. 1 he acceptance of the vote 13 au uncondi tional recognition of the power to vote. No ppecial pleading based upon the Eimuuds oint resolution or on any other ground can at all modify the essential fact. The joiut action of the two houses in receiving the vote admits of no appeal. It is positive and con clusive as well as to the legal regularity of the vote as to the authority of the State to give it. There is no middle ground in the premises. That State cannot be out of the Union, or & a btate subject to constnutioual penalties, whose voice for Seymour and Blair was formally listened to by the rresidout of the Senate in the presence of both houses. The result is especially noteworthy, because directly occasioned by the Senate, which has thus far refused admission to the Georgia Senators. Had General Butler's Objection pre vailed, we should have said that exclusion from the Electoral College in this cse implied exclusion from the Union. But these objec tions having been overruled arbitrarily aud irregularly, we must admit, but still over ruledthe theory ot the Senate Judiciary Committee is exploded, and the uuwillingness to admit Mr. Hill ceases to be excusable We do not look for absolute consistency in tbef e matters, but when an important consti tntional principle is at stake, we must assume that the Senate will adhere to the logical con sequences of its own proceeding. After de claring that the votes of Georgia should be re ceived, it cannot, without self-stultinoatton, deny the right of the State to Senatorial repre sents on. FINANCIAL. LEDYARD & BARLOW Have Kemoved their LAW AND COLLECTION OFFICE T5 No. 19 South THIRD Street, PHILADELPHIA, And will contlnne to give careful attention to collecting and securing CLAIMS throughout the United States, British Provinces, and Eu rope. Biffht Drafts and Maturing Paper colleoted at Bankers'. 1 28 6m BUamisof&Co. BUCCESSOBS TO P. P. KELLY & CO., BANKERS AND DEALERS IN Golfl, Silver, mi GoTemit Bonds, At Closest Market Bates. K. Yi. Corner TUIRD and CHESNUT St8. Special attention given to COMMISSION ORDERS in New York and Philadelphia Stocks Boards, etc etc- 2 11 8m MrrHBMnniPW&i Dealers In United States Bonds, and Men. hers of Stock and tiold Exchange, licceire Accounts of Banks and Bankers on Liberal Terms. ISSUE BILLS OF EXCHANGE OS C. J. HAMBRO & SON. LONDON, B. METZLKR, 8. SOHN & CO., FRANKFORT JAMES W. TUCKER & CO., PARIS, And Other frisclpal Cities, and Letters of Credit Available Tnronghont Europe. PIIILADA. AND READING UR. 6s, Free from all Tases. A fcitnill amount Cor sale low by DREXEL & CO., No. 34 Couth THIRD Oircot, 212 2W PHILADELPHIA. pm 8. PETERSON & CO., Stock and Exchauge Brokers, No. 39 South THIRD Street, Members of Uie New York and I'liiludel pliia Stock and Uold Boards. BTOCK3, BONDS, Etc., bought and sold on oommlHRlon only atelther city. latijj DEAFNLB8. EVEUY INSTKUMBNT THAI science aud skill liava Invented to miUi tht hearing In every degree of dearum; also, Heaplr. tor: also, Oraudall' Patent Oruiubea. superior to any others la use, at F. MAIUULKA'S, &o. ill H TKBTAMI Hml halnw CTbaanut. Usui TDR1ZES CASHKO IN ROYAL HAVANA, XT KENTUCKY, aud WISWOUK1 L0TT1CK1K4. Circulars seut and Information riven JOdKPH BAi.H, Vo. 7! B&OA-DWAY, New York. los Office Box i it in PR. F. GIRARD, VETERINARY 8UR yCi !ilKON. treaM all diseases of horses and cat tle, und all surreal operations, wilo eUlcleut accom piodatloit lor homes ul bis lullriuary, Ho. OU0 it AHtillALLiilrest, abovs i'utilar. .. ' . 114 FINANCIAL. UNION PACIFIC RAILROAD FIRST MORTGAGE 30 YJGATiS SIX TEB CENT. COLD BOfJDS, FOR SALE AT PAR AND ACCRUED INTEREST. DEALERS IN GOVERNMENT SECURITIES, GOLD, ETC., No. 40 South THIRD Street. 21 tl PHILADELPHIA. lOOO MILES NOW COMPLETED OF THE Union Pacific Railroad The Company will hare the entire lino finished through to California, and readj for this summer's trarei. WU ARE NOW SELLIKti The First Mortgage Gold In terest Bonds AT PAR AND INTEREST, CJiTIL FURTHER NOTICE. (xOTernment Securities taken In exchange at full market rates. TO, PAINTER & CO., BACKERS AND DEALERS IN GOVERN" MENT SECURITIES. No. SO South THIRD Street, PHILADELPHIA. QA NKINC HOUSE OP Nob. 112 and 111 South TII1BD Street, ' PHILADELPHIA Dealers In all Government Securities. Old 5-20s Wanted In Exchange for New A Liberal Difference allowed Compound Interest Notes Wanted. Interest Allowed on Deposits. COLLECTIONS HADE. STOCKS bought and told on Commission. Bpeclal business accommodations reserved for ladles. We will receive application! rot Policies of Lira Insurance in tbe National Lire Insurance Company of the United State. Pull information given at ou oflioe. 1 1 am GLEMMIE, MIS & CO., .No. 48 South TIITHjD Street, PHILADELPHIA. GLEHDMNING, DAVIS & AMORY, Ho. 2 NASSAU St., New YorU, BANKERS AND DKOKERS. Direct telegraphic communication wit the New York Stock Hoards from the rhil&delphiu Office. . - u . FINANCIAL. 10 0 0 MILES of rat mum pacific RAILUOAD ARC NOW COMPLETED. A. mo mllns cf the Va ern portion of the line, be. ginning at Bacrnniento, are ala done, but 2C7 MILES REMAIN To be flnished to open tHc Grand Through Lino to the PaciUc. Tills opening will certainlv take place early thin season. Besides a donation liom the Government of 12 800 acres of land per ml'e, the Company la entltied to a anbsldy In United 8t ats Bunds on Its line a, com. pletfd and accepted, at tn avflrag rat ol about M,6 per mile, accoidlng to the dlUlcnltles encoun tered, tor which the ;vnmmeet takes a seco id Hen as eecorlty. Wbotueir subsldlMi are given to any other compnnlee ci not, tbe Oovernuieut will comply, with all Its contracts with the Union Paollic lUllruad Company. Nearly Ihe whole amount 61 bonis to which ihe Company will be entltied have already been delivered. FIRST MORTGAGE BONDS AT PAR. By I s charter, Ihe Uompany Is permitted to Issue Its own FIRM' MOHTUAUK BONDS t the lime amount as the Government Bands, AMD NO MORE The Bosds are a First Mortgage upon the entire road and all its equipments. THEY HAVK THIHTY YKAR.3 TO UCN, AT BIX PER CENT., and both PRINCIPAL AND INTEREST ABE PAYABLE IN GOLD Bach securities are generally valuable In proportion lo the length ol time they have to run. Tbe longest six per cent, gold Interest bunds ot the United States (tbe '8;s) will be due lu 12 yers, aud taey are worth 112. If they had 80 yea s to run, they wonld stand at not less than 12S. A perfectly safe First Mortgage Bond like the Union Pact tic thould approach this rate The demand for uropean Investment Is already considerable, and on the completion oi the work will doubtless carry the price to a large premium. SECURITY OF THE BONDS. It needs no argument to show that a First Mortgage ol $26,F00 per mile upon what for a long time must be the only railroad connecting the Atlautio and I'cUlo States is riBFECTLY bkclkk. The entire amount of the mortgage will be about t ,000, COO, and the Interest tl 800,100 per annum in gtld. The present currency cost of this Interest Is less than 12,600,000 per ant um, while the gross earnings of the year Ittes FROM WAY BUSINESS only, on AN AVKRAQJS OF LESS THAN TOO MILE 3 OF ROAD IN OPERA. TION, WEKK MOKE THAN FIVE MILLION DOLLARS, The details ol which are as follows; ' From Psswengers $1 f 21.t05'dT ' Freight..... - i.04i',2;iVI! " KxprtBS - . - Mails lMl-tiW Miscellaneous 01.610 27 " tieveminent rroopa 10 1 07777 " freight ,4m Contractors tacu ... X0l.ltiW - material WM.imw Total............. tf.OW (Soldi This large amount is only an Indication of the Im ruecee traffic that must go over tbe through llae In few months, when tue gieat tide of Paclflff ootht travel and trade will begin, It la estimated that this business must make the earnings rf the road from FIFTHEN TO TWENTY MILLIONS A YEAS. As tbe supply of these Bonds will aon cease, par tics who desire to Invest lu them will find It for their Interest to do so at once. The price tor the present Is par and accrued interest from Jan. 1, In currency. Subscriptions will be received In Philadelphia by SE HAVEN & BBO.t No. 40 S. THIRD Street, WI, PAINTER ft CO., No. 36 S. THIRD Street, And in New York AT THE COMPANY'S OFFICE, No. 20 NASSAU Street, AND BY J. J. CISCO & SOX, lSAXKEHS, No. G9 WALL Street, And by tbe Company's advertised Agent throughout the United States. Bonds sent tree, but parties subscribing through , local agents will look to tuem for their safe delivery A B&W PAMPHLET AND MAP WAS ISSUED OCTOBER I, containing a rep jrt of the progress ol the work to that date, and a more comvlote state ment In relation to the value cf the bonds than can be given In an advertisement, which will be sent free on app'lcation at the Cviupaoy'e olUces, or to any of tbe advertised agents. tOllS J. CISCO. TBRANVB1IK, NKW YORK, t S thsin Jan 20. 1&SL BRANDY, WHISKY, WINE, ETC. QAR STAIRS & McCALL. Nos. 128 WALM'T and 81 MRANITE St., IMPOJiTJCKH OW Brandies, Wines, Win, Olive Oil, Et Kit., VE01.hALK DKALWi IAr PURE RYE ' WHISKIES, iy BQyp AXD J'.l.y PAID. i il HOTELS AND RESTAURANTS. AIt. Vernon Hotel, 8 i Monument street, Baltimore. ... Ekgsntly Furnished, with unsurpassed Cuisine. On the European Flan. ' . P. MORGAN. gT. NICHOLAS HOTEL & DINING SALOON, S. E. Corner Ua rter St. & Exchange Place, Ihe Placet Got a Good Diuner, . 0?TIJiRMKAt' AT HrAHOSABLBPBIClt'S. 11 samrp U PiCK. i'roprletor. THnrD., ks REVENUE STAMPS OP Inxt 'f l No' KTH (Street
Significant historical Pennsylvania newspapers