1 I 1
VOLUME I
!KigaggjgiiuiJi'ii!!"i
hOOFUM'S GERMAN BITTERS.
milt
HOOFLAND'S GERMAN TONIC,
fSSl'AKHO nr HI, t'. it. JACKSO.f,
rnatDiirvu, l'A.
The griattst known rimtdlts for
Liver Complaint,
DYSPEPSIA,
Nervous Debility,
JAUNDICE,
Diseases of the Kidneys,
ERUPTIONS of the SEIIT,
4 all Diseases artlng from a Dl
urltsreil Liver, fetomncli, or ,
IMI'VBITY Of 111V JSI.OOZK
limit Utl fl!oifin:i .l';.'i. unit if Jf-U Unit th-it
pntr ly'Ji it affteui ly any -f tint, vnn'muy ;(
mttisreil Hut ditaie fiat c ii'i!m". i t '.Uncle on fit
motl important oijant of your bvi'.'j, nud imlf, tun
J we ;f tnmcf'il nv,,;t. a mircmUt
V. -'.iiy in 'tri'i, mili bt lit remit.
Constipation, Flatulent, Tnward Piles,
f'U'nesaoMilood toth.3 Head, Acidity
oi tha Htomneh, Niuiaen, Heuut
burn.D.igust tor Food. Fulnoss
or VVoijtlit in tha St.miiwh,
Bouf jL'ruotu)i.:)B, Hmk
vtc of Plurtarii-K t l-be jfit
of cttoinacn, nwirjir.ingof
the Ed, iluiried or Diinoult
T)rUner;, i'luit-.r.nj; at tli Iioart,
C.iokui or 'iuilojatijR b intuitions whea
it! n Jjyi.-.f P j;ifii i:itr.n.'a of Vision,
or bofora lint tii;'nt
1j11 P.J..) ia Iii4 a.d, Jjoli'
uivucyof i'oki iratioii, Yol-
Eyi, Fain m tiio Side?,
Baj!, OiiOflt, Ijirabs, pfo.. Sud
den L'iuua of Hum, Burning in
ti.e E'lasii, Cuisiunt lioainnis of
Blsii. tad bli'iit D.-tjfossiuu of tiyirils.
JU Lieu indicate dixjtt nf i'ie J.irrr or iHyetiiv
OfjU'li, Cf'HL-iUtU i'. iJi .',:i;,n;-e iiojj.
fiao Haiti's fUi:a;t Cilt:n
I. en (i rd Y vrjjrl !:. II a r o:il(ii HO
li'uur It It ni'iiijiniiii ofi'lultl Kx
Hut! a. 'I lc Itd'ii, !:., In, nnrt llm ki
treut wliicii lilnt rxii-ucls am matil
ore Ruilifn d lu t.'eritlx.ijr All I lie
mrdifcitt I vlrlW! ire rs.:ft ved from
tUciM uy a ciejl!tfl: cl),.,ifKt. Tltct.c
uli.ci. are llitu iiij ti(l,'ii lo (Kill
t'.'Ul" t be rr jii-s,ly for Hie
UiJiautHiK i-f il,i: iiin-r. Tiicre
I .9 icolwiU- tnlivlii'r of auv Uliiil
used t cvtupouudiog; i Uc . lU er,
lre It in liar ooJj fc.tlein liial giiii
bv ur-d lui .4tnvii-ft ulcuaalic niliiit
ul.Uia re uui aUi luitbir.
QjDujitj'-j v3;vj!i:U iconic
il a wi'j'Mr-iinn nf a'l t-ie in-jvcJvnis nf the IltHtrs,
villi run Vwi' i.Vif L'unu o. a,'-, fr. li u usni fur
Vu t' tftc-us'. us t'.i UitUr. in cutrx it''f?- fAmg
("' Sw.'i 'i-- tUaul-H i " ,:'! ) .11 .,7i (war in
lfu4 fl ltj ve'neiitt iiiiTirely diffcliit rout
or t'jts-.iir.t Ur Uir cure nf i.'it diseasrt
st tmr-J, li fin.r;c frfvir-jiii .t',t n f mrilicitut
msiraj-e. u.'iiic t'te n'.''.rt a; r,iry. -Jrcneii'mt of run
14 iMwrw. fie il'v'NiO i. it''i-Ut!y i.ne ft'ie mii
f.vjlU wrf ojreezlie rrtiicJits rctr f.fi'rtil to the
pii'lir. Jit Utit it etqtttsitt. If it u fiUuwe In tube
if, i-'ult iit t''iririrff, nhilMMHrg "lid medicinal
V.irt''.:A-i luxe zJmil U iv it A.-intrn u., ite gi-euteU of
U.ui:i.
COHSUMPTIOff.
taeuituds uf ce, wlir-u (lie pn
ftupyuxtrij 1 ok ufttcie4 wild
tki Ivriiui ikt-u, titvt tern i-uret
iUv ijt f 4 ;rr rt-iuidf h, Kxirciua
a i i'ji tlrtiii.y. urt ruuU nre
liir vwlJ tt;icut.i.ii ttiMtn icveifl
fUK'i W aj. oi l-ae f lit
l.'eMe mtgam J-vea In cnsfM of
fi l und S iiic rfhtrst be n til I.
T.ie u uo w.':im ef .j tn irnnfttnuVs German
B-iUrt r Ti'iric ft of Ori.i.'i:. Thry import a
Uu uhu t'fw f'o f V :yimt ttrmgthcn the a
V, Mtw an tt-jmmtnt of the fut!t tnihle. th
MiU-h ta tiist if, puriftf titt. Moot, (i'rff a
4tv t(Hljiinn tt'adioiU tht. if 11 no tinri
from th tet imp,i t a Lin to Vie cfuiek.t and chiwjn
Weak and Delicate Children
Arc made troH by UKing the ltltfra
or 'l'ttulc. lu tacl, tilry are htxnly
iiedivlMvx. 'iliy cn.it be cliuliilnicrcd
levUU prffct ttftfety lu a child thrco
coutU tlil, the mtutt UelUat female
r m wan ufuiuiy
Viae Krmtditt are the Utt
JElocxl Purlflcrs
r- Irtfiuti, and will curt all diteaxet retultinj from
iT4 J, ' tJorf pure; kep your Liver n m-Jtr;
l-'ti tdiy'c tre ur-jitni itt a itUfW, htaUl.y emuii-
vtrit you.
cm a n
IC1T.
I.mlle wli nlili a fnlr skin nnil
u.'iil rOMiy'ezlil, 1'iee from a yrlloiv.
i.t. iiujcv Hud Mil utiier fUNlly;ui ruieikt.
fcliwuid u litr.e reiiieUle ocgh.Io
Mliy 'i'Me- Ilrln prrfrv-t oa'iler, and
bltot ittr, ivlll re.itil lit fcal'li.w
ling ud blooiiilxt ciieekiit
CAl'TIOS,
Hfi'.Jxireft Ceititun Jiemtiiiet itre cwnierfciteih
T!ie 4.fit 'uii-e t-j: rijiialuie of JJ. ltiliiitl
tin ft iMit I'f tit oitUiue iKr:iw- ef radi U'td; unit
V ftjtf of if arti.-U olMwn in each uUtle. All ot'iert
utt evtitUtrfeit.
TkMiaa,tl4 of letter liave lirril re
el 1, (raur, 1 114 to i lie. vlrl uc of liio.a
Itl.tdlr.,
.'. EEAD T3S K3GOiIiIEI.TDATI01I3.
IfKOW HON. 0K0. W. WOOilWAI'I),
Ciii.f Jil.lise uf Hi Suu'miw Cuuit uf I'emi'j IyimU.
l3ILDtLrHII, HlilCH lOili, ISO".
lfefi"llMtjn't't ffrr..-i Bi lert" it nn( cm iVojj.
liiiav Imerjt, i.ut it a gi' lent?, u-tul in ilivr
Oert uf I'te dijetlii. oryaii.f. if fliejt hewjU in
ttatet ef deuih.'j aud wan ff n'rvout Uition m l
lltten. l'.ur huh;
CLO. W. WOODWARD.
FBOM HON. JAMBS TI!0!lJiOS
Jude of the ti!icui Cmii t if Peini.ylvanlA.
PlULACtLPHU, API'.U 281 h, 1SC4.
I cou.'Jir Iluoftnud'a filermau Ult
Itri" ftfitetHla iitrtfiriitK lit cum of at
lack mf Iiidlexioi. or i) teisla. I
ran certify tltl from my csierlciicc
flt. louii, ulili lOIIH'l,
JAMlii UlO.tll'SO.V.
From KF.V. JOSKPII 11. KI'.NN'AKD, D O.,
Twlnr of tin Tenth ltj)tit Church, I'hiliulp!iliU.
Ij Jacso Siu : Ihmr. lr-roieii.'y
nr.'en lo ermmet my Kiiiw tVi rcimmiHUiitiunt uf
iijT'-reiU kinitt of ihedicinet. but reiturdiii tlie firitctiet
at out of My ujiproii-iatt sphere, I have in all catei do
;tW ; but wit'i a clear pio-f in vnriont in te atiit
Jiartiewarly in my own fiuniti. ifllic uxef ulnest of Ipt.
iv.kjuU't Verwun JJittert, I le)jii-l fur one front my
utuitl eo trt'. In express my f:i:l C"lrf 'l-.M thnt In
loiiM-al ilrliilily i't tiio t.v.tf ill, Aitrl e.pn-i:il!y fr Liver
Cniii'Hiut, it m a f anil v.-ilmilia ieti:iiKtin. In
$iHt casei it Muy.iiiV ; bul ViUnlhj. liioui.l wt, it will
it rei-y beneficial to those viio trifrr Jrwn tin about
cautu. l'liut t, tery reeper' fully,
J. 11. HESS A HP,
beluu Coaltt St.
Price of tha Bitters. 1.00 per bottle
Or, a half dozen lor 15.00.
fnoe of the Tonio, $1.50 per bottle
Or, a half domn for 47 60.
Tliv Tonic is put up In quart b.ittlus.
Recoiled llutl it it lr. llonfUimtt German Jlemediet
Vint are to wiieei tiiUy ut'd unit to liijfiljt reoilnmemt'
ft i and do not all-io Hit Vruyyiil to induce you to
takt any tVtuiy tlu Uutt he M'ty tail itjutt as trfeod, bo
Cause lu muitt a iurtjer pnfil tm it. Tliete Itsmetties
will Im tent by express to uity UKulily uptu awticalioir
ta Uti
PRINCIPAL OFFICIO,
AT THE GERMAN MEDICINE STORE,
Ae. S ARCH 8TR1CF.T, I'liiladelyhia.
CHAS. M. EVANS. Proprietor,
Tonaerly a It. JACKSOH & CO.
These Iteruedles are for sale by
OruC8' H tare keepers, and lloilu
1ms lioalers wliers. r-
Da rJT -atm AW sreit ysa
The Disguised Heirees.
Miss Vernon' nt thoughtfully nt her win-
iJiiiugKii in ueep inougnt. 1 iiia need be
ncnrcL'ly wondered nt, for tho question upon
which Bhe was pondering fifl'Hctud her nnnily.
She was an lieii-Mfl, Imviiig enmo into pos
sesion, nt her miijority, . of fifty thousuud
dollars. Sho was prepossessing- in her ap
pearance, i. ml this, na was natural, ns usual,
was considerable exaiSPratcd, brought her
em lors in plenty. Among them she mado
choice of William Winsor, and in a few
weeks they wero to be married.
AVilli&tn w:is ensa;;ed in the wholesale
clothing business, an j had the rcputatioa of
nu active, sharp man ol business. llo was
of good appearance, and so far as could bo
judged, was a good mutch for the heiress.
Nothing to his prejudicd hud come to tho ears
ol Miss V union, until tue day before, A
poor woman had coma to the door in evident
poverty, and a?ked for relief. On being
questioned, sho said that she had been em
ployed in making shirts ut twelve cents a
piece tor wholesale dealers that artr mak
ing a dozen mid carrying them to tho store,
she hud been roughly told tlint they wero
spoiled, and that nothing would bo paid her
lortlie worKi but that she might have somo
more, if sue would agree to mako them bet
ter. Sho udded that this was 0110 of the
small ways in which tha linn made money
out of poor wonicu, by pretending that their
work was unsatielactorily done, when really
no fault could reasonably ho found.
The sum, small ns it was, of which she lind
been defrauded, wus nil iniportaut to hur, as
it represented a week s work.
'Only a dollar nnd forty-four cents for a
week s work! exclaimed Mis ernou in dis
may. That's all,' said the poor woman
How, then do you live?'
'It cau huii'iy bo called living. It's just
barely keeping body and soul together,' said
the poor woman.
And who i9 this extortioner that first of
fers you starvation wages, then defrauds you
of tiium?' aikod Mi.-H Vuruoii ,very iuJigna'ut
!y. 'Wi'liain Win?ni '
'V.'ho?' domainied Miss Vernon, firmly,
quickly.
'Wi'Miam Winsor.'
'1 can hardly believe this. I know tho
'gentleman.'
'It is true, and if you will investigate the
mailer, you will find it to be so.'
'I will iuveyt tho matter. Hero is five
dollars for your prceut needs X'oino hero
tc-niorrow ut this time, and I may have some
work for you to do.'
The poor woman departed, invoking bless
ings upon the heiress.
'I will look iuto this,' said Margaret Ver
non, resolutely, 'and, if it proves true, the
engagement between William Wi::sor and
myself shall be broken. I wiil not give my
helf to sueh a man.'
'Xauey,' 1 Mi? Verunn, the next morn
ing to the cluiimburutaiil :llavn you nn old
dress and shabby cloak uud bonnet,-that you
can lend me?'
'I have got some that are so poor that I
ain not going to wear them again,' said Nan
cy, surprised at such an inquiry.
'Will you lend thorn to me?'
'Of course, Mi.js; hut what w-nildthc likes
of you want with such old cloth s?'
'A littlo fun, that's all,' said Miss Veruoi..
'I am going to disgmso myself, and suo if I
cant deceive somebody.'
With this cxplurution Nancy was content
and produced the clothes. Mi.-s Vernon put
them on, and iu addition, borrowed of an
other of the servants u thick, green veil,
somewhat the worse for wear.and then set.
out on her mission. No one, iu her disguise
would have recognized tho usually elegant
and richly dressed heiress, Miss Margaret
Vernon.
Mii-a Vernon clipped out of the basement
door, and took her way to a laigo store, on
which was inscribed tho nanio of William
Winsor, iu large gilt letters.
Bhe eutered und after a while ac'erk spoke
to her iu a rough voice:
'Well, what do you want?'
'I want to get soino work,' sho 6aid in a
low voice.
'We can giro you some shirts.'
'Anything.'
'Can you sew well?'
'I thiol; so.'
'At any rate, wo will try you.'
A half dozen ehii't3 wero given to Miss
Vernon, and sho was informed that if satis
factorily done, sho would bo paid twelve
ceuts a piece. These sho carried home, slip
ping in ut tho back door.
About two hours later tho poor womau
called,
Micro are somo shirts for you to make,'
said Miss Vernon.
'Why, they ure tho same as I bavo been
making,' Euid the poor womau iu great sur
prise. 'That is true, they camo from tho same
place. '
'Am I to bring them back there?'
'No, you will bring them heie. I will pay
for tho work, when done, douiilo tho price
you Iia7e beeu rec- iving.'
'Thank you Miss, you are so very kind.'
'C-ew them us neatly a possible. I wish to
see whetlnr they wiil bo rejected us poor
work.'
'Yes, Miss Veruon, I will take paius with
them.'
Turoo days later tho poor woman returned
with the work completed. .Miss Veruon paid
her for them, uud requested her to cull tho
next day.
'Nuucy,' said tho heiress, after her protege
had departed. '1 shall wish to borrow your
old clothes ugaiu.'
'Certainly, Miss,' said Naney, 'if it is not
ashamed you aro to appear iu such miserable
rugs.'
'No one will kuow me, Nancy.'
Bhuro, Miss, you cau take them wheucver
you liko.'
'I dou't think I shall need them again,
Nancy, but 1 thank you all tho same.'
Notloug afterwards Miss Veruou, in her
shabby disguiso, eutered the establishment of
William Wiusor, with the bundle of shirts
under her arm.
tiho walked up to the counter and laid
them dowu.
'What have yoa got there?' demanded a
pert youajr clerk.
'boiua work, sir,' said Miss Vernon, very
humbly.
'Well, why don't you open the bnndlef
said the youug man, picking his teatu with
his knife.
Miss Vsroon did ftv
EIBGAVAY, ELK CO. PA., FRIDAY, FED. 5, 18G9.
Tho young mnn deigned to tumble over
the shirts, and sneeringly glancing at them
carelessly.
'.Shocking! shocking!' he said.
'What's tho matter, sir 1
'They're wretchedly sewed. That's what's
tho matter. How do you expect we nro go
ing to sell such shirts as these?'
'I am snro I thought they wero well done,'
said Miss Vernon.
'You thought, did you?' repented the clerk
mocking hi r. 'Well. I think differently, and
that's all about it. Wo shan't pay you for
these shirts. They will have to be sold at a
loss.'
Mjut what shall I do?' atked Miss Vernon,
in Sfeniiiig distress.
'That's your business, not mine. Wo will
try yon once more, and sive you another half
dozen shirts. If they aro douo better, you
will be paid for them. '
'These are done well,' sasd Miss Vernon,
savagely, snatching tho bundle from the
counter, 'aud I will show them to your em
ployer.' To thn indignation of the clerk, who was
not used to such independence in tho poor wo
men who worked for the establishment.
Miss Vernon took the shirts to another part
of tho counter whero sho saw William "Win
sor himself.
'Mr. Winsor,' she said, 'your clerk will not
pay mo for those shirts, lie says they are
not well done'
Mr. Winsor took ouo up, and pretended to
examine it.
No, it is poorly done. We can't pay you
for these, but you may havo uuother bundle,
and if they nro satisfactory, you will theu
be paid.'
'T'idn't 1 tell you so,' said tho clerk tri
umphantly. 'Now, young woman, how
much did yon make by that operation?'
'More than yon thiuk, perhaps,' said Miss
Vernon, quietly.
'Do you want any more work?"
'No, I dou't wish any more, 'she answered,
cold I v.
'Oh, you nre on your high horse, are you?
Well, jou may be irlad to get work, somo
day, when you can't have it.'
That evening was the one which William
Winsor usually spent with his betrothed.
When ho was introduced, ho went forward
warmly, ns usual, to greet Miss Vernon.
yiie drew back cul-ilv, and did hot offer
her hand to gra.-ii his.
What is the matter, Margaret?' he nskod,
surprised and startled. 'What have I dono
to entitle me to t-U':h a rece ption?'
'Mv hand has taken your tor tire last time,
Mr. Wiiiior,' said Margiin t.
'flood Heavens! what is tho meaning of
all this? Margaret, explain yours If; 1 can
not niulerst'iiid it.'
'I caunot take tho hand of one who grows
rich by defrauding poor women out of their
scanty earnings.'
'Who says this of me? Romo ono has
been slandering me. Confront mo with my
accuser. Thero is some ini.-U.ko here."
'I will do as vou desire. Wait jiiit five ,
minutes.
Miss Veruon left tho room, and poou re
turned in her disguise.
The voung man strode up to tho woman
angrily.
'Are vou the one who lus slandered mo to
Miss Vernon? ho demuinied.
'J told her tho truth.
The. voung man reflected. Aioh r.t con
tradiction ho saw would not avail hi in; he
would try another course.
Mlurk ye, young wounn,' he said iu a low
voice. J hero wus a mistake. I will make
it up to vou richlv. I will give vmi ten
dollars on the spot, ami ail the work you
want ut double rates, if you wiil tell Miss
union it was all a mistake.
'Too lute, Mr. Windsor.' said the veiled
figure, throwing up her veil, and showing tho
contemptuous face of Margaret Vera ui.
Your bribe is offered in vain, Good evening
sir.'
Confounded and astonished, William "Win
sor found his wayto tho door, and has never
ventured to enter the house of the heiress
si Due. lie has paid for his meauuess iu his
ov.'u coin.
Resumption cf Spacie Payment.
Mr. MuKKll I call for tho regular or
der.
Tho SPEAKER. Tho regular order is
the consideration of tho unfinished business
pending at the adjournment yesterday, being
tiio motion to reconsider the vote by which
the bill (If. 11. x'o. to provide for tho
gradual resumption of specio payments was
recommitted to tho Committee on Banking
and Currency. Tho gentleman from l'enu
sylvaniu, (Mr. Soolicld) is iutitled to the
floor for eight minutes.
Mr. BCOF1ELD. I nsk tho House to add
seventeen iniuutes to my time, that I may
havo twenty-live minutes iu all.
The SFEAKEll. It' thero bo no objec
tion the gentleman from Pennsylvania will
bo allowed twenty-five minutes in which to
make his remarks.,
'J here was no objection.
Mr. SSUUF1KL.1J. Mr. Speaker, what
shall wo huvj for money in this country? I
do not mean just now while we uro in a pinch,
but iu the future wheu we become masters of
the financial situation, bhall it be exclu
sively inetalio? I sepposo uot. There wero
ut ouo time a few udvocutes of hard money in
the country, but I know of uouo now. 11
uot uiutulio, it must bo paper. Then what
kind of paper? fcjkull we revive State bank
iuy? I hope uot. Its complexity, panics,
failures, frauds and couiiterlits coudeinu it,
and the Constitution, properly coustrued,
forbids it We uro left, theu, to a choice
between United States uotes, something like
our greenbacks, uud bunk notes something
liko our national currency, before we choose
between them each system should be amend
ed, or considered as amended, 60 us to be
what we would want it to bo in case of its
exclusive adoption.
Fiust. banking should be free to all.
Each bunk should undertake to redeem its
notes iu coin upon demand, and give security
for the undertaking. This would probably
be a suflicicut limitation us to tho amount of
currency.
Sei.-oxu. A plan should he contrived by
which tLo Uoveruineot would save as much
or nearly as much, less tho expense, us if the
notes were issued by the Treasury, instead ol
the banks. It is suid this is tho case now.
Peihapsitis; but it should be put iu tho
form of reduced interest upon the bonds in
stead of taxes, so that we can all See exactly
what is tawed. Otherwise wsnta of trade
may be overlooked iu the?traitsof tho Treas
ury. With these, nnd porhnp9 other modifi
cations of tho national banking system, let
us see which of the two kinds of paper is
most desirable. The Treasury eould have no
choice, because the Government would save
or make as much on the ono kind of rinncr
ns the other. The bill-holder could havo no
choice, bocan?o his security in eaeh ca38
would bo exactly the twine, except that in
the one caso the respontibiiity of the corpor
ation would bo added to that of the Uovern
mont an addition, perhaps, too trifling for
consideration. Which then, i best for
trade? Trade needs stability in prices. To
make prices stable tho amount of currency
and tho amount of trade should always bear
tho some relation to each other. If tho
amount of trado varies during the year, or
from year to your tho nmouut of currency
should vary also. Otherwise prices would
go up and dowu from mere excess or lack of
curreucy. This waut of trade lias ncvet
been perfectly met by r.i.y system. It prob
ubly never will be. Hut tho currency fur
nished by a free banking system will supply it
more nearly than any other. It is cupublo
of expanding as trade expands and contract
ing us trade coutracts. Not so with the
Treasury currency; that must expand aud
contract as laws uro made or repeulcd by
Congress. Congress cannot always guef's
what trade wants, nor bo willing to reepond
to those wants if it could. Tho necessities
of the Treasury, the preparation for an elec
tion, or a change of tho administration
would generally dictate tho increase or decrease-
of currency. Legislation thus con
trolled by political reasons must nec?ssurily
be arbitrary and unsensouubk'. No busiacss
man would feel safe while Cougress was in
session. A lino or two of law midit wipe
out half his securities or double his liabili
ties, l'rco banking, on the other hand, is
seli'-reguiutiug, or rather it is regulated by
the demands of business. Its notes will be
plenty when trade is brisk aud scarce when
trade is dull, aud thus prices will bo keDt
siuoie.
It has been supposed that this flexibility
could be imparted to the Treasury current'
by allowing the notes to bo converted into
bonds nud bonds into notes at tho pleasure
of tho holder. Tho rfi'ect of this scheme
would be very different, I iipprehend, from
its purpose. The uotcs and bonds, being
convertible into each other, would always lie
of exactly tho same value. Except iu the
convenience of bundling ono would be as
good a medium of exchange r.s tho other,
The re.;u!t would bo that uenrly all the notes
would bo converted into bonds 'for the sake
of inerest, and the bonds used iu all large
transactions in place of the notes. Substan
tially, tho bonus would all beconio currency.
It would make a great infhitiou of currency,
and the tlovernmeiit would bo paying inter
est on nearly the whole of it.
The gentleman from Massachusetts (Mr.
Hutler) has given us tho details of a plan
feasf'ti ujinn this principle. It provides that
the holder oT any portion of tho bondB hear
ing six per cent, interest in coiu may ex
change the rumo for currency at the roto of
ninety per cent, of its par value, nnd while
the bonds aio so deposited exchanged receive
yearly interest thereon at tho rato of two
and thirty-five hundredths per cent. A man
having if 1,000 could purchase with it a bond
of tho sumo amount, and at once deposit it
uud get back !00 of his money. He would
thus bo out of pocket 100, but he would
annually draw from the Treasury us interest
on his bond, at tho rato of two" aud thirty
livo hundredths per cent. 23 50.
The gentleman nays there nre $1,750,000,
000 tiieso convertible bonds. This
large interest would cause, them all to be
converted, and we would thus have 81,57.1,
000,000 of currency besides the ' $350,000,
000 which the genth-uian proposes to issue
in udvnuce in the pluoe of the greenbacks.
If the whole 1,750, 000, 000 wero deposited
nud ninety per ceut. of their par value re
turned in currency, the bondholders would
bo out or pocket 8175,000,000, aud would
received f:oui tho (iovernmeut as interest
$-11,125,000. Tho interest npou their money
actually invested would be tweuty-threo and
fifty hundredths per cent. The bondholder
would muko a good deal of money by the
operation, and tho Government would save
somo interest, but the country would bo nf
flictcd with SI, 02.1,000,000 of irredeemable
paper. If you thus make it an object to
convert tho bonds, all will be couverted,
und we will have a destructive flood of pa
per. Ifholdiugtho bonds pays bett, tho
uotes will bo converted uud tha" bonds used
as currency. Tho inflation will bo nearly us
disasterous as iu tho other case, whilo tho
(Joverumeut must carry a heavier load of in
terest than ever before.
To avoid this objection it has been pro
posed to make only a limited amount of
bonds uud uotes convertible. Within this
limit tho eil'ect would be the same, with this
additional disadvantage; ull who desiro to
reduce the amount of currency, cither for
speeulatiou or to approximate specio pay
ments, would convert tho notes aud hold tho
bonds. They could ufl'ord to do this, be
cause they would receive a fair interest upon
tho money, whilo'they wero at the same time
securing whut they would consider a more
it.iportuut eud, to wit. ; a contraction of cur
reucy und fall of prices.
Wheu, then, wo shall settle down to a
specie puyiug paper currency, I am inclined
to give tho preference to a system of
uatiouul banking free to all, and paying into
tho Treasury as much money as tho Govern
ment could save by issuing its own uo'.es.
No other system could make the bili-hol.ler
nioro secure, earn moro for the Treasury, uor
so well supply tho wants of trado.
This system cauuot be adopted until after
we resume specie payments; uud this leads
me to inquire how uud wheu resumption shall
begin. To answer the question 1 wiil ask
another: how much paper will our share of
the world's gold and silver keep afloat? be
fore the war, under tho old system of State
baukiug, we were ablo to carry about two
hurdred million dollars. We can carry much
mora now, both because tho world has more
now than it hud then, and becauso we
would require less specie, owing to our im
proved system of baukiug und securities, to
flout the same umouut of paper. It is hard
to say how uiucb paper wo could keep out,
but 1 will suppose $500,000,000. This is a
rougn guess, desigued as un illustration rath
er tuau as a statement of fact. Ou this sup
position the 8700,000,000 of paper now out
would diminish utter resumption to $500,
000,000, or to such other sum as would be
shown by eiporjenoe to b ear maximum.
Specie payments, then, involves a contrac
tion of the currency.
Whether this contraction should take place
in advance, in preparation for, or follow ns
tho effect of resumption, I do uot cure just
hero to consider. I am only asserting that
wo will have considerable less paper when
wo nave specie payments than wo have now.
Tho effect of this contraction must bo u fall
in prices. Whenever wo nro prepared to
submit to this uud take the consequences wo
enn lind ways enough to bring it about.
Many pluns havo been proposed, ull feasible,
though perhaps not nil equally good One
is to resume at onco. iu the belief that gold
will corr.o iuto the Treurnry ns fast us it will
bo drawn out The New York Tribune ad
vocati'S this way. Possibly this plan would
succeed. Possibly tho Treasury would re
ceivo as much gold as it weald bo required to
pay out; but if wo did continue to pay spe
cie, I mil quite euro wo would soon rcduca
tho amount of currency, prices would full,
aud tho debtor class suffer.
Another plan is to fix a timo of resump
tion, nnd save up enough gold to mako it
certain that we will bo uble to meet all de
mands. This, I think, i Senator Morton's
plan. This would bo pretty sure to enable
us to continue specio payments onco begun;
but it would not, us is supposed, cnably us
to flout our present umouut of paper. Ifj
wo thus secured more gold thun would ordi
narily stay iu this oountry, it would How
back to its accustomed pools ns soon as it
was put upon tap, und wo would soon be left
with its much paper currency us our proper
share of the world's gold would float, und no
more. Low prices would follow as before.
Auother plau is to reduce the paper currency
to an umouut wo might suppose could bo
kept afloat, nnd then resume. This is Sec
retary MeCullockV plau. Tho plau is good
enough, but tho ell'iet would bo precisely tho
same, a contracted currency and low prices.
Another plan is to buy iu or redeem the cur
rency, beginning nt about its present value
iu gold and rising monthly in price until we
shull finally redeem it ut its face. Iu the
meanwhile wo would pay out the notes as ut
present. This plan was introduced by tho
Heutlinaii from Ohio, (Mr. Garfield,) and is
as good us auy. It avoids tho danger of
compulsory eiispcusion involved in the Tri
bune's plan, the expense of hoarding involv
ed iu Senator Morton's plan, und the uncer
tainty as to the amount to be retired involved
iu the Secretary's plau. It is ns gradual us
auy, aud has this advantage over them nil,
that it foretells to tho people exactly how
fast prices will fall.
but whilo this plan is ns unobjectionable
as auy, it does uot avoid the great fault (if
fttuit it should be called) of them all, to wit,
an ultimate contraction of the currency. It
is because all these plans involve this result
that all aro rejected. We are seeking for a plau
that will keep afloat our 700,000,000 of pa
per, nud still rudeem it in gold upon demand.
We will seek in vaiu. It is uot iu the pow
er of legislation. All tho plans proposed,
and all that can bo proposed, uro ouly differ
ent r.ittds to the Sumo goal. Komo nuy hp
shorter than others, somo moie agreeable
than others; but travel which we will we
come to contraction and low prices at last.
If low prices is tho effect of resumption,
when can we encounter them with tho leust
injury? Most certainly when tho people ure
least iu debt. If nobody was in debt, no
body would be hurt by the change. To pre
par for lesumptiou, then, the people should
endeavor to pay their debts while prices ure
still high. If Cougress should take no steps
toward resumption tho Supreme Court may.
The urguuienl over thn constitutionality of
"legal tengers"' has ceased, uud the court is
deliberating. Nobody, 1 presume, no', oven
tiio court itself, knows what tho decision will
bo. The uncertainty of a jury verdict has
passed iuto a proverb, but 1 would ns leave
bet ou the jury us tho judge. Who can guess
to what conclusion a mind educated iu
belligerent logic uud professional subtlety,
tempted nt leust perhaps swuyed by per
sonal ambition, may come? It is quite prob
able, however, th court may search out
some theory by which to sustain the uctiou
of Congress, prompted by tho terrible ne
cessities of tho war; but it is not so certuin
that it will attempt to clothe Congress in a'l
future time with plenary power over all con
tracts, past, present and future, und regard
less of their terms and stipulations, to satisfy
them with anything valuable or invaluable,
paper, wood, leather, or anything else that
this body in its integrity cau invent uud cull
money. While this uncertainty hangs over
the question it behooves tho people every
where to take advantage ot tho high prices
and liquidate their debts. Out of debt out
of daoger;
You see, Mr. Speaker, I tun neither advo
cating nor opposing these multitudinous
plans of resumption. My object in rising ut
lit 13 time was to prove to tho House that
there cau be no permanent resumption with
out contraction, and that all feasible pluns
of resumption lead directly or iudirectly to
that result.
I think wo had better not net upon any
plan this short session. Standing still is a
tdop toward resumption a very short step,
I will admit; but still it is something. Ev
ery year adds to tho world's stock of gold
und silver. Every year, by the increase of
our population, makes our share of it largor.
Wo can therefore float more paper on a spe
sie basis next year than this. This furnishes
a small excuse for wuiting, but 1 have a bet
ter ouo my constituents desire it.
Latest Outrage Upon the Fashions. A.
uowly-iudu'cted policeman in New Orleans
recently had a singular adventure with a fash
ionable dressed lady whom he met coming
out of a dry goods store, lie had heard of
shoplifters who carried oil the most costly
coeds in a sack, disposed about their person
He was ambitious of distinction, and here
was a chance for the coveted fume. The
lady was evidently carryiug a heavy load.
She must be a shopittter 1 here could be no
doubt of it he would arrest her:
"Yon aro my prisoner!" he said, laying his
band on ber shoulder.
"What do you meau!" demanded the in
suited ludy.
" What's that you've got on your back
stolen Mods?"
' "Heaveull never was so iusulted. No,
sir.- it's not stolen coeds.
"I mean no offence, madam, but my duty
comnels me to examine it.
"Sir villiaa that't my my G ret inn
Bend!,"
NUMBER 12
Pennsylvania.
However much American citizens may
huVo differed upon the question of Stnte
llights, there has never been a controversy
on the pnbject or State Pride. Detesting, ns
we do, tho pro-slavery pollution's view of
thh State Rights doctrine, we ure williug to
go to the extreme with the extremist o(
them, in fin matter of State Trido. And
fortunately Tor this proposition. Pennsylva
nia is a state that gives ample material upon
which her proudest son may expatiate, with
out f"iir that any equally f'uithful son of
nny other old commonwealth may bo ablo to
make him blush. Governor Geary's message
may bo taken ns furnishing a text for tho few
remaiks here to bo offered.
Tho debt of tho Stnte of Pennsylvania ac
cording to tho Governor's statements, was,
on tho 1st day of Inst December. 833,250,
910. Deducting from this the estimated val
ue of the Railroad bonds owned by tho
State; which the Governor udvises should bo
sold, tho nettial net debt of the State would
be about twenty-five millions oT dollars.
Tho actual population of the State i3 about
four millions. Tho who'o debt, therefore,
would average nbout six dollars and a quar
ter to each inhabitant of tho State,- nnd it
might bo liquidated by nn assessment of that
amout, if it wero desirable or fair to nTuko
such. As nn indebtedness of a Common
wealth so rich nnd prosperous ns Pennsylva
nia, with population uud resources steadily
gaining, this sum of twenty-five millions, is
really insignificant. It seems more insignifi
cant when it is compared with tho debt of
tho State iu former times, when tho popula
tion nud tho sources of- wealth were much
lower.
Tho State debt, of Pennsylvania reached its
nnxinnm in 18.14, tho last year of that
model Democratic Governor, Yi'illiam big
ler. In his best message to ths Legislature,
ho reported the State debt to be, ou tho 1st
of December, 1854, i?41,C'.)8,5'J5. Iu tha
following year, under a change of adminis
tration, Governor Pollock was uble to report
a reduction of over six hundred thousand
dollars. Tho reduction went ou steadily af
ter this, accelerated by tho sale in 1807 of
State Canals, which had afforded, for a eeri
ous of years, rich spoils iu tho Democracy,
whilo impoverishing the treasury." Tho needs
of State during the rebellion, brought on by
the Democracy of tho South, stimulated by
the Democracy of tho North, caused n tem
porary increase of tho State debt during part ,
of Governor Curtin'a administration; but
this wus extinguished before he retired from
office, und when ho loft the Executive chair,
tho State was much freer from debt, and
much richer in honor and glory, ns well ns in
material resources; than it was when he was
first elected. A faithful Governor, repre
senting a truly loyal Redubiican population,
wus ablo to bring about this happy result,
even iu a time of civil war, which caused
general pecuniary distress.
Goveruor Geary, chosen by tho samo con
stituency and representing tho same Repub
Hcttu nriooipioa. huu iiepn able to report a
diminution of the Slate debt, in each of tits
annual msssages. It now amounts to 33,-
280, 940, or deducting tho value of tho rail
road bonds owned by the State ubout $25,-
000,000. The samo rate of diminution, car-
ied on for a few years, will totally extinguish
the State debt. Accelerated as it may be,
if the wise and earnest councel of tho Gov
ernor, iu regard to economy, bo followed by
tho Legislature, tho people may, in a very
littlo while, see themselves freed from all di
rect general taxation for the purposes of the
Commonwealth. The revenue from tuxes on
corporations, from licenses, &c, will be quite
equal to the expenses of carrying ou tho gov
ernment. by the way of showing how much better
off Pennsylvania is iu 1809, under Republi
can rule, than it wus in 18.11, under Demo
cratic rule, we may state thut iu 1854, the
population being about 2,000,000, the btate
debt was, iu rouud numbers, $41,700,000.
In 1809, the population being ubout 4,000.-
000, tho net State debt is ouly ubout $25,
000,000, This simple statement is sufficient
to justily the ride we have expressed iu our
noble Commonwealth. Pliilu. bulletin.
Tim Jealousy ok Girls Every Satur
day is responsible for the following: Girls,
too, nro awlully jealous of each other. I
should call this the girls' distinctive fault
Seo them when they ure introduced, or when
they first meet ut a bull or croquet party; see
how coldly critical they look ut each other,
how insolently their eyos rove over every
portion of tueir rival's dress; read in thoir
laces t ho outspoken scorn ns the result ot
their scrutiny.
"Yon think you hnve dono it very well,
but you linvo made a fright of yourself and
I am much better than you!" Wutch their
disduiu of the more admired among them;
and how exclusively naughty for attracting
so much attention they thiuk or Ada or
my ubout whom the young meu cluster.
How bold sho is! how over-dressed she is!
nud, oh! how ugly sho is!
Sometimes, K they are deep, they will
overpraise her enthusiastically; but the ruse
is geucrally too transparent to deceive any
one, aud simply counts for what it is a
clover faint that doesn't answer. It is quite
a study to watch tho way in which girls
shake bunds together, or take bunds in dances.
The limp, cool, impetinent way iu which
they abjust palms, then let their nrms fall a3
if puralized, tells a volume to those able to
read the lettering.
. Womax Suffrage is Pennsylvania. By
refereuco to the Legislative proceedings of
Tuesday it will be seen thut Mr. Hurritt, of
Susquehanna, has introduced iu the House of
Representatives a joiut resolution proposing
an amendment to the Constitution of Penn
sylvania recoguiziug the principal of univer
sal suffrage, embracing all citizens over the
age of tweuty oife white, black, male or
female. This is au important proposition iu
Pennsylvania, and, although it must neces
sarily 'fail of success at the preseut time,
it will doubtless ut least provoke discussion
und elicit such comment as caunot fail to
prove iustructivo. Whatever may be said
or the Republican party, it cauuot be alleged,
with the leust shadow of truth, thut its
members, in or Out of our legislative coun
cil, have ever shrunk front, a full aud free
investigation! of the questions which most
vitally concern tha rights of tha citiua or
pf humaoityi