THE HEW YORK THESS.
EDITORIAL OPINIONS OF THE LVADIXQ
JOURNALS UPON CURRENT TOPICS.
COM
rOH EVKMNO TKLKORAPB.
A (Jrneral Bankrupt Law tor the t'nlted
States.
f Yom 1M Herald.
Tho Constitution of the United States em
powers Congress to pass uniform laws on tho
subject of bankruptcies. This power has only
been twice exercised once In 1800, when a
bankrupt law limited to five years was passed,
which was repealed before the expiration of
the term, at the close of the year 1803; and
again In August, 1841, when a general Insolvent
law was enacted, which was so loose In 1U
provisions, and so available lor the fraudulent
debtor, as to excite a 6torm of popular dis
favor. The latter law was pushed through Con
gress by questionable mean. The law of 1811
had less than two years' existence, a bill for Its
repeal having received the President's signature
on March 3, 1643. During the period it re
mained in operation It was calculated that
eomn forty thousand persons availed themselves
of its provisions, who-e ageregate debt must
have been in the neiubbjrliooil ol two hundred
millions of dollars.
Notu withstanding the failure of former experi
ments, it has long been the opinion ot tho ablest
financiers and the most honorable business men
in the United States that a general bankrupt
law. fair and liberal In its provisions, and con
taining strict safeguards against Iraud, would
be at once a protection to the honest debtor,
And an advantage to the businots community.
Congress alone has power to puss sued a law,
wbirn would be binding upon all creditors in
the United States, and all descriptions of debts.
The insolvent laws of a State can only reach its
own citizens, unloss creditors from other States,
by voluntarily recognizing the insolvency an.l
accepting: dividends from the estate, put them
selves within the pale ot their operation. The
close and intimate commercial relations between
the States render It very desirable that a uniform
system of laws relating to bankruptcy, which
nil understand, and by which all alike are
bound, should exist; and it was a wise provi
sion of the Constitution which vested the
power to make such, laws in the Congress of
the United States.
In Europe bankruptcy laws are of a quasi
criminal character. The proceedings are re
garded as hostile to the baukrupt. Under the
French law he is arrested and con lined in
prison or put under surveillance, and after an
examination into his affairs by the Tribunal of
Commerce he enn be releasel on bail or un
conditionally. Alter the investigation is com
pleted he can be condemned to imprisonment,
with or without labor, if fraud is proved
against him. The English law has some pecu
liar features. A bankrupt who obtains his cer
tificate of discbarge Is allowed a percentage
to a limited sum out of the proceeds of bis
estate when the dividends reach a certain
amount. When fifteen shillings in the pound
Is realized by his creditors he receives teu per
cent, on the whole assets to a sum not exceed
ing six hundred pounds, and so in proportion
for a smaller dividend. This affords a bank
rupt a small capital with which to commence
life anew. One provision of the English law
would hardly suit the United States. A bank
rupt is not entitled to his discharge it he has
lost a certain amount within the year immedi
ately preceding his bankruptcy either at gam
blingorstock lobbing.
it la objected Dy some mat Danicruptcy taws
are a protection to fraudulent and aisnonesi
debtors. A good law must always be the re
verse. Our present system, without any general
law at all, is oppressive only to the unfortunate
and honest debtor, and affords the rogue every
facility he can desire to cheat his creditors. It
is also an incentive or temptation to men of
weak and unstable principles to become dis
honest. When a person who is doing business
with an Intention and wish to establish a good
reputation finds misfortune coming upon him,
he hs now no opportunity to redeem himself,
and will, In a large majority of instances, set to
work to put his property out of the reach of his
creditors,, . If he goes down, he argues, he can
never get . up again, and self-preservation is
the first law of nature. A fair bankrupt law
would enable him to stop at once, to put all his
property in the hands of his creditors, to pay as
much as he could, and to commence again with
out an incubus of debt weighing him down.
From dishonesty and lraud no law devised by
human wisdom can entirely protect the creditor.
But a good bankrupt law would afford him
more protection than he at present enjoys, since
it would enable him to take immediate measures
for his protection wheneverevidence of intended
fraud should make itself apparent.
The lack of a uniform bankruptcy law de
prives the community ot some of its bt com
mercial ability and business enterprise. To
keep a man constantly out of business because
he has once been unfortunate, or to compel
him to resort to all manner of tricks and s ib
terfuges to conceal his property and cover up
his interests, cannot conduce either to the goad
of the creditor or of the State. The honest
debtor, if he should become a bankrupt, would
never fail to pay up bis old obligations in full
should he subsequently secure the means to do
so. The dishonest man would never na v a debt
We have examined with some care the law
which passed the present House at its first ses
sion and is now before the Senate. Its main
provisions appear to be fair and just both to
wards the creditor and debtor, and It contains
apparently stringent safeguards against fraud
and dishonesty on the prt of a bankrupt. At
this period of our lite as a nation it Is eminently
desirable that some uniform law should be given
to the country, and the subject should claim the
early and the serious attention of the Senate.
It is one of the most important matters that re
mains before that boSy, and should be passed
during the exit ting session, so that if auy
amendments to the bill are found desirable they
may be acted upon by the present House, which
has already maturely considered and thoroughly
debated the subject.
Reconstruction at Hand,
From the Tribune.
We note with satisfaction the gathering at
Washington of deputations from several
Southern States representing diversa phases of
opinion at the South. It can hardly be a yenr
Hince tho Times urged us to say w hy so loyal
and true a Unionist as Colonel J.M.Johnson,
of Arkansas, should not be admitted by the
House to the seat whereto he had been unques
tionably chosen. We now see that Colonel
Johnson is in Washington to urge Congress, on
behalf of the fire-tried Unionists of Arkansas,
not to admit representatives from that State
until she shall have undergone a radical recon
struction. And we trust nay, we are sure
that he and his colleagues will be heard with
profound attention. So, we doubt not, will that
delegation which represents the other folks in
Arkansas, who are a decided majority of the
white, but perhaps not of the whole people of
that State.
We trust tho rival parties ol every Southern
State either are or soon will be represented at
Washington, Let all have a fair hearing; but
let them be admonished that time Hies, and that
less than two mouths of this Congress remain.
If the rival delegations could confer wiih euctt
other and aree as to the base of reconstruc
tion, they would signally facilitate the action of
Congress. And w hy should they not ut least
try to agreef They are fated to bo fellow-citizens
, neighbors, often kinsmen; even if they
tiehlre to remain at war, thi.t luxury is Impera
tively denied them. . Will not the rival delega
tions from Arkansas set tho excellent example
of courteously conferring and trying to ngree on
plan of reconstruction to le jointly huIiu tiled
THE DAILY EVENING, TELEGR A riT.PIITL
to Congrei fiurely, tho effort, If male In (he,
right spirit, niunl be productive of good. --, ,
CongresH blight soon lo indicate to, the tin
represented Htvei precisely what they roust do.
It will not do to let the pension wear awat -without
this. If any Stale shnll not be called when
thenont Home aw mbb. s tor organization, It
should bo dourly and grnmally known why it is
not, and that the fault Is its own. Let there be
light!
General Orant U reported as bavin? expressed,
at Governor Seward's dinner party on Saturday
evet'ing, his conviction that, if the Southern
tstatf s should miopt the pending ConsUtulional
amendment, they , would be promptly restored,
and no further conditions imposed. Wo do not
so understand Congress. If those States had
promptly and heartily ratified that amendment,
we believe a majority would have felt morally
bound to admit them thereupon. Wo do not
understand that the Johnson organizations
claiming to be 8tatcs which have rejected the
amendment especially if, a? In the case of
Texas, they have treated It with marked In
dignityshould they now conclude to ratify It
rather than take the chance of doing worse.
would be regarded by a majority of either '
House as having established any right to recog- j
nitton as legitimate by Congress. But, what- j
ever the fact may be, Congress should promptly
and unequivocally Indicate It.
For our own part, and without presuming in 1
any manner to apeak for others, we must say
that the ratification of this amendment bv any j
State would form a very inadequate and im
perfect basis of reconstruction. The vital )
matter, in our view, Is security to every indi- i
virtual, however humble and deplsed, In bis
essentia! rights ot person and property. Any
reconstruction which does not guaiantee the
whites who have been Rebels against future
arrest?, orralgnmeuts, seizures, confiscations,
became oi their part in the Rebellion, and does
not secure the blacks against Mich abuse, spolia
tion, enslavement, and butchery as many of
tliem have experienced within the past year,
will scarcely deserve its sonorous title. We
see not how a true and lasting peace, a speedy
restoration to comfort and thrift, can be attained
on any terms less comprehensive than those
of universal amnesty coupled with impartial
suflraue.
Millions of acres of the best lands in the South
now lie desolate and useless because their
owners cannot procure tho means of fencing
and cultivating them. Those owners, being un
pardoned Rebels, can neither sell part ot their
lands wherewith to obtain the means of culti
vating the residue, nor can they borrow a dollar
on all their possessions. We may say, nobody
will ever trouble them; but our assurance will
not warrant their deeds nor induce capitalists
to lend on their mortaases. And, on the other
hand, the Southern "cities are crowded with
blacks who are not wanted there, and are
wanted to till the soil, but dare not go thither,
dreading ruffianly abuse, if not murder. You
may say they are timorous; but if the New Or
leans massacre were among your bitter expe
riences, and your children were liable to be torn
lrom you as those of the blacks legally are,
even In loyal Maryland, you might see the mat
ter differently.
What the country nrcrently needs Is a full and
final settlement, one tnat will unlock all its
resources, and set all its people to work. It
would mate hundreds of millions' difference in
the prodnrt of this year's industry if this could
be secured forthwitn. We do not judge that it
can or cannot be achieved under the present
State organizations, but we fervently wish it
might be, for time is precious. And it Con
gress, on full view of the tacts, shall deem it
necessary to set these organizations aside, we
entreat that Us action be prompt and vigorous.
Let justice to all be Insisted on, at all events;
but let the least possible time be spent In secur
ing it. Delays are dangerous, and the future
uncertain. Let us be wise and generous, while i
brave a nd confident, to-day. ... i
The Industrial Condition of the Country
Measure of Heller.
From the Time.
The report of Mr. Commissioner Wells esta
blishes conclusively the abnormal and disturbed
condition of the Industrial Interests of the coun
try. It proves that the prosperity in which we
have exulted has been, after all, to a great extent
unieal; and that, without any of the evidence
of panic, our position should excite the gravest
anxiety. Sound trade has been impaired by
speculation; and, while limited classes have
reaped rich harvests, the great body of the com
m unity have suffered from the change. The
condition of affairs in these respects is too criti
cal to be endured patiently. And having, by
an elaborate investigation of facts, arrived at an
understanding of the nature of the disease, Mr.
Wells proceeds todiBcubs the merits of available
remedies.
For some of the evils that exbt legislation
a (lords no relief. Au act ot Congress would be
futile as a means of providing more skilled
labor, or as a method of counteracting certain
other disturbing elements that have grown
out of the war. Two remedies are available,
however, over which Congress has full control;
one, the adoption of a policy of steady, per
sistent contraction, that the perils of un irre
deematle paper currency may be brought to an
end; the oilier a revision and reduction of the
national taxation, with a view of relieving in
dustry from intolerable burdens, and legitimate
enterprise from the hindrances that now ob
btruct its progress.
oi tne toruur or tnese remedies Mr. wens
I nnpi.t u-uh m;tiTOnp that nirhinv
lie is persuuded that inconvertible paper cur
rency is an unmitigated evil, of which the
country should rid itself with no more delay
than may be inseparable from the progress of
gradual out uullinching contraction. He advo
cates the enforcement of the policy "to the
greatest possible exient, and at the earliest
possible moment compatible with the condition
ot the industrial interests of the country, and
of the public obligations." As a general prin
ciple, there is nothing new In the suggestion.
All but an inconsiderable minority of specula
tors favor a return to specie payments; the
debatable points relating lo the time within
which the proceedings should be commenced
and the measures that should be employed. It
is with regard to these points that Mr. Wells'
testimony is valuable.
He joins Usue with the advocates of inflation
at every stage of the argument. He denies that
contraction, operating concurrently with a re
duction ot taxation, would prove detrimental to
auv producing interest. On the contrary, he
asserts that "the influence of such a policy,
seasonably announced, would co before it:
prices would fall in anticipation of a diminished
supply of currency, and w ith such a decline, tho
purchasing power of money would so increase
as to keep tie volume of circulating medium
sufficiently ample to facilitate all needful and
legitimate exchanges, and at the same time
diminiett the field of speculation."
Ttie absurdity of the plea that the present cir
culation of paper currency is not more than
equal to the increased requirements of business,
is shown by a single fact. The highest amount
requued during the speculative mouths which
preceded the break-down of 1857 was below
$215,000,000. Now the circulation exceeds
$700,000,000. Admitting that some increase is
lequired by the permaneut addition to business,
and by the peculiarities ot business consequent
upon the war, Mr. Wells expresses the opinion
a one of the results of his investigation that
the $300,000,000 which tbo national banks are
authorized to issue are adequate to all present
6oia fide wants. The enormous excess now lu
circulation may. therefore, be called in not
only without injury to the tra le and Industry
of the country, but with mauifest advantage to
b )th. "The retaining of tho present amount of
currency in circulation," remark's Mr. Wells,
"tends to lucrers-e no business except what is
pp culative, and to check the very development
which U expected to prove remedial." Tho
addition to the annual burden of Interest which
the conversion of non-lnterest-beuriug notes
into bonds would entail, would be more than
compensated by the abatement of the evils of
fluctuation and uncertainty which ure Insepa
rable lrom a i'erti.oumltime of inconvertible
currency.
P, , f . .
To render contraction morn eay. and to in
crease the relief wntoult iadeplgond to afford, a
redaction of the national taxation is necessary.
Obviously, therefore, too extent to which the
la ttar cemed v-Js applicable--U continuant upon
the extent to whicb the load of annual taxation
mar b diminished.
Mr. Welladiirers somewhat from the Secretary
of the Treasury In his estimate of the probable
revenue receipts tor the ticalT)ear 18G7-8,
under' the operation of existing laws.' His estl
matc is $155,000,000. Accepting Mr. McCulloch's
statement of probable expenditure, an available
surplus of $105,000,000 may be calculated unon.
This es'imate presupposes a continuance of exist
ing defects In the making of collections defects
so formidable that, according to the Revenue
Commission, less than one-half of the legitimate
Internal revenue finds Its way into the Treasury.
These frauds prevented as surely in some
dgiec they might be the available surplus
would be jet larger. We must take things as
they are, however, and these, as we .have said,
will, In Mr. Wells' opinion, leave a mareln of
$10,000,000. - - - -
In his treatment of this surplus, Mr. Wells
makes one of the few striking mistakes that are
discernible in bis report. For he proposes to
appropriate fifty millions to the reduction of
the principal of the public debt, and to limit
the reduction of taxation to an estimated aggre
gate of filty-tive millions; Instead of using the
w hole amount to relieve overburdened industry,
and to extricate busiuess from the embarrass
ments which now encompass It.
The exhausting, oppresive burden of the
country is its taxation. The public debt, large
as it is, Is not in excess ol the national resources.
The country may carry it with comparative ease,
and under the law of natural development its
redemption mny be looked forward to with con
fidence. No one ooubts either the ability or
i he will ot the country to pay every dollar. But
It is not a task on which we can at present afford
to enter; while the lessening of the burden of
taxation is a duty that ought not to be neglected,
uulot-s we are piepared to see the source ot our
growth tapped and undermined. We suffer,
not from the amount of the debt, bnt from
the amount of taxation. And our whole effort
should be directed to the reduction ot the
latter, tbat the proMration which threatens us
may be averted, and the means of ultimately
redeeming the debt may be made more sure.
Mr. Wells, indeed, concedes the general sound
ness of this view. "A careful study ot the
whole subject of tne national revenues." he
says, "and an extended inquiry Into the indus
trial condition ot the country, has led the Com
missioner unhesitatingly to the conclusion that
a rapid reduction ol taxation rather man a
raplo reduction of the principal of the public
cent is at present tne tiue policy ot tne uovern
ment, and that the adoption of this course, o
far 1 1 oin protracting the time at which the
national debt can be discharged, will, on the
contrary, ereaiiv accelerate It." Whv. then.
depart lioru "the true policy" in the disposal of
me iuo,uuu,uuu estimated surplus? it air.
V ells' exposition of the condition of the coun
try is coirect (rind his facts seem to usiirefra
panic), me utmost possible relict is re
quired. Every dollar taken off the taxes is
a benefit to legitimate trade; every dollar
needlessly retained is an injury which It can
not contiuually bear. Why not carry out a
principle confessedly sound? The ears of the
groundlings are tickled, no doubt, by financial
exhibits which indicate the diminution of the
debt. It would be a glorious circumstance, un
questionably, were we able to astonish the world
by paying off the debt with a speed second only
to tbat with which it was created. , But the pro
cess would be fatal to the taxpayer. Even now
we endanger the goose that Jays the golden
eugs. Industry languishes under the infliction.
Trade is crippled and in jeopardy. And, there
fore, to secure the largest po"aiole measure of
rener, and to give run etiect to tne pnn?ipie
laid down by Mr. Well", let the entire amount
ot available surplus be ditvo'ed to the reduction
of taxation, deterring the redemption of the
principal of tbe debt to the period when tne
country shall have been restored to a normal
and settled condition.
Meanwhile, Mr. Wells confines his recom
mendations within the fifty-five millions which
he would t-ave from the amount ot taxation. He
proposes a ieduction from five to three per cent,
in the tax on the products and vales of manufac
turing industry, "and a corresponding reduc
tion in f-pecitic . taxes levied on analogous
branches of industry;" and a reduction of the
tw o and a half per cent, tax on the gross receipts
of sugar refiners to one and a half or one per
tent. He proposes, further, the removal of all
direct internal taxes upon certain manufactures,
ot which bar, plate, and sheet iron, steel, aud
salt aie the chief. These changes, which are
confined to Internal taxation, would probably
absorb $35,000,000, leaving about twenty mil
lions available for Tariff reductions.
Mr. Wells' initial point in this plan of tariff
rcloini is that which experience has proved to
be more favorable to manufacturing industry
than any prohibitory duties that were ever im
posed. He urges the lowering of duties on raw
materials to the lowet-t point consistent with the
requirements of the revenue; and ot "placing
upon the free list such raw materials, the pro
duct mainly of tropical countries, as are essen
tial elements in ereat leading branches of manu
facturing industry, and do not come In compe
tition with any domestic products." This state
ment ot the principle is less broad than it might
nave oeen. it is, in fact, a restricted applica
tion of the doctrine which has elsewhere
worked advantageously. We must not forget,
however, ihaf Mr. Wells has not felt himself at
liberty to entirely disregard the opinions of
Congress; and that it may be inexpedient to
fiusli tbe principle to its extreme limit until the
ndustry of the couniry 6hall have emerged
lrom the present transition state.
The proposition, qualified as it is, necessitates
the discussion of the general question of pro
tection in relation to tho agriculturist. Mr.
Wells maintains that "tbere can be no practi
cal protection to the American agriculturist,
except what be receives from the existence and
extension of American manufacture--." And as
the interest of the nianuiacturer demands the
untaxed admission of the raw uiuteriala of his
manufacture, it follows tbat the loss entailed
upon ourf.irniers by competition with the raw
products ot other countries will be less than the
gain resnltlu? from the extension and pros
perity of manufacturing industry. Wool, flax,
and wheat furnish illustrations of the working
ot mis economic law; and a very suegestive
statement of results produced by the abroga
tion ot the Kecirroeity treaty ehows that the
American agriculturist had been injured and
not benefited by a change t-lfee:ed under the
pretense of protecting home industry.
It is contended, then, that an increase of the
tariff on the scale contemplated by the House
bill of la-t se6sion would be worse than oseless
as a remedial measure. Instead of relieving
industry, it would subject it to more grievous
buidens; instead of biimulatine national de
velopment, it would damage trade by prolong
ing the condition of instability; Instead of aid
ing the Government and strengthening publio
credit, it woul l weaken the gold reso urces of
the Tieneory by lessening importations, and
would render the much-needed revision of tbe
internal levenue system impracticable.
An incieuse of duties is sought iubhalfof
special Interests, while the evils which now
weigh down industry and commerce are pro
duced by general caust-s, which call for gi-ncral
treatment. "The evil is a radical one, confined
to no one section ana to no one interest; the
remedy must, therefore, be also radical." The
country complains of hliih prices; but an in-
creiuic of customs' duties would force prices yet
hither. Should the wool growers and tbe wool
manufacturers obtain the prohibitory duties
they eek, Mr. Wells calculates mat the imme
diate increase in tbe price or woollen coinuio
dlties would be equivalent to the addition of
$35,OuO,000 to the annual taxntion of the domes
lie consumers. All other lorms of labor and
commodities would be correspondingly en
hanced, '-thus aggravating the very evil which
in the outset it was intended to remedy, and
necessitating a further increase in the volume
of currency in order to facilitate exchanges nt a
UipntT level m puces."
Wtundod Honor. A duel between General
Clani-iiitllac and Marshal Ucncdek is npokeu of
at Vienna.
ApELPHI A , TUESDAY, JANUARY 8, 18GT.
CURTAlNSj shades; ETC.!
RICH LACE CURTAING.
lh flobicribert have
teivlug from the lata
'now In Stock, and are rc-
AUCTI0N SALE Of NEW YOEX,
Nottingham Lace Curtains,
' .r i i
From Ordinary to Rich B'.y'.i. . ,
French Lace Curtains,
From Ui Lowest to the Highest Quality, tout of
them the BICHE3T BSAHS.
ALSO,
Vestibule Lace,
Embroidered Vuaiin Curtains,
Jacquard Muslin Curtains, and
, Curtain Muslim in groat variety
SKEPPARD. VAN KARLIKQEN JLARXISQN
0 14 wfir.Cmrpl Ko. 1006 CHESNUT Street,
WHISKY, BRANDY, WINE, ETC.
J-Jt & A. C. VAN I5EIL,
OLD RYE WHISKY.
F0K FAKIIIE3 AND TBS ISADS.
No. 1310 CHKSNUT Street.
J-f & A. C VAN BEIL
FINE OLD SHERRY WINES,
For Families and the Trads.
No. 1310 CHESNUT Strett.
JJ. & A. C. VAN BEIL
VERY SUPERIOR BRANDY,
For Medicinal and other uses.
No. 1310 CHESNUT Street.
J-J & A. C. VAN BEIL,
CHAMPAGNES
OF ALL FAV0KITE BRANDS.
No. 1310 CHESNUT Street.
JJt & A. C. VAN BEIL,
WINE MERCHANTS,
11 19 6mrp
No. 1310 CHESNUT St.
CALIFORNIA VilM COMPANY
"WINES,
From the Vineyards of Sonoma, Los Angelos,
and Wapa Counties, California, consist
ing of the following:
WINE BITTERS,
bilEliltV,
iiUC'K.
MUBCAT1 L.
CATAWBA.
C'ltAKtT,
l'OtT,
1J HANDY,'
CHAMPAGNE.
Ihtsc V IKES are warranted to be the pure juice ot the
prupe, unaurpasaed by any lo ttie niarket. anil are blulj
recnimemled lor Medicinal and taoiily purposes.
IOK SALE BY
E. L. CAUFFMAN,
AGENT,
No. 21 NortU FOURTH Street,
1 3 ilisiu2u) PHILADELPHIA.
QREAT REVOLUTION
IN TEE
TOE TRADE OF THE UK1TED STATES
Pure California Champagne,
ade and prepared ai If done in France, from pDre
Calllornla Wine, and taklig ihe place of Imported
Champagne.
1 lie undesigned would call the attention of Wine
Dealers and Hotel Keepers to the following letter,
which may jlvea correct idea of inequality of their
Wine
'COKTIVEMAL HOTEL, PHILADELPHIA, Oct. 25, 1866.
' Alitsm. Boiciii H & i'o. :
l.entleuieu : baviufi lilreo your California Cbam
pot nc thoicuhh test we taae pleasure In saving tba
c tutus, it tne oesi American wine we nave ever used
e h lis 11 at once place it on out mil ot tare.
"i ours truly. J. E. KINGSLET & CO. '
CALL and TKY OVB CALIfOiUSIA CHAMPAGNE
BOUtHER &. CO.,
11 St tuthi-SiiO 'o. 3d DEY Street, New Kork.
A. MAYER. Agent 710 BANBOM Su Phl adelphla.
ADULTERATED LIQUORS ONLY
KU'HAHi) PENISTAN d
UTtMtV IHIt Vlf'l.Ttl
Ko. 43!) CHESNUT BTBEr'T
5 early Onpctit the I'ost Office
PHILADELPHIA.
Funnies supplied Orj. r from tne Country promntly
atit'Ddedto ftjlj
TOBDAVS CELEBRATED TONIC ALE.
J This truly healtbiul and nutritious beverage, now
in ue by thousands invalids and others has estab
lished a character lor quality of material and purity oi
nisnu'actuie wlilcb stands unrivalled. It is recom
mended by physicians ol this and other places as a supe
rior tonic, aud requires but a trial to convince the most
skeptical ol its great merit. To be bad, wholesale and
Itlull.otP. J.JOKHAN.N PEAK Street. U17
STOVES, RANGES, ETC.
QUITTER'S
Deep
NEW PATENT
Sand-Joint
HOT-AIR FURNACE.
RANGES OFAI.L SIZES.
Also, Pbllegar'a Nw low Pressuro
Steani Heating Apparatus.
I OK SALE BY
CHARLES WILLIAMS,
6 ld Ko. 1182 MARKET Street.
THOMPSON'S LONDON KITCHENER,
OB EUKOI'EAN RANUE, for Families, Uotuls,
or Public institutions, in iwriMlI
V h-lit vr MZ1..1. Also, l'hlladeluhla Itanites.
lint-Air Pinnaces. J'orlaule Heaters, I.owdown Urates,
Flreboard Moves, Hath liolleis, Htewhole rlatea,
Hollers, Cooking Htovcs, etc, wholesale and retail, by
UieniBUUlaclurels. BI1 AHFE A T1IOMHOH,
1111 tuiuOui No. m M. blX'ONU HUeet
WATCHES, JEWELRY ETC I
TvVilSLAD0r7JS&C0.
-
I)H:.10 I) DRALKKS A JKWKLKRS.
WATt'tlK, JH.KI WARS.
. WATCHE3 and XEWELET EfiP AIRED.
03 Chentnnt 8t Phil
CHRISTMAS HOLIDAY
AH ,
BRIDAL PRESENTS.
Have on band a large and bsanurnl assortment ot
Watches. jewelry, and ftllverwre, aultAbie tor Christ
n as Holiday and Bridal Presents.
Particular attention solicited to our Urge assortment
of Diamonds and Watches, Gold Chains lor ladles' and
gentlemen's wear. Also, Blcevo Buttons, Btuds. and
beal Kings, in groat variety, all ol the newest stries.
FANCY SILVER-WAUK,
ESPECIALLY SUITED FOB BRIDAL GIFTS.
We are dsity receiving new goods, selected eoreMly
for he holiday ml' s. Our prices will be found as low.
It not lower, than the same qualitr can be purchased
els' where
I nichafers invited to call '
Diamond and all precious alonea. also, old Gold and
Bi.ver, purchased or taken in exchange. tlHf
WATCHES, JEWELUY.
W. W. CASSIDY.
No. lit BOITI1 SECOND STREET
Ofers an entirely new and most carefully selected
stock oi
AMEBIC AN AND GENEVA WATCIIC3.
J EWE LET,
6IL.VEUWARK, and FANCY ARTICLES OF EVEBY
DESCRIPTION , suitable for
BRIDAL. OR HOLIDAY PRESENTS.
An examination will show cir stock to be onsur
passed In quality and cheapness.
Particular attention paid to repairing. 6 1 ol
BOWMAN & LK0NAED,
UAICFACTCBER3 Of
WHOLESALE AST) RETAIL E2ALEB
IN
Silver
No
and
704
Sllvcr-riatcd Goods,
ARCH 8TREET.
PBtADBLTBIA. ' '
Those In want ot 8ILTER or 6TLVKB-PLATED
WARK will find It much to their advantage t visit
curHl OKJS buore making their purchases. Our loos
ex perience In the manuiacture ot Uis above kinds oi
atods ensbles us to detv comoetltion.
We keen noeooos but those which are of the FIBHT
CtABS, all ! Jar own make, and will be sola at reduced
prices. ' e o
"I 1 1 1 W Zi X V T 1 iT.VJ cJT J Ti
Large and small sizes, playing lrom t to 12 airs, and
costing from 6to 0Q. Our assortment oomprlset suoh
choice melodies as
'Home, Sweet Home
The Last Bote of Bummer.
"Anld LsngSyne."
Btar Spangled Banner."
"Wy Old Kentucky Bome,"etc. etc.,
Besides beautiiul selections from the various Operas
Imported direct, and for sale at moderate prices, by
FARR & BROTHER,
Importers ol Watches, etc., '
llllnnthtrp Ko. 824 CO KBNCTBt., below fourth.
II0LIDAI PRESENTS,
JACOB HARLEY,
rStrcCES80K TO STAUFFZa & HASLET),
No. 023 MARKET ST.
A fine atsorlment oi Watches, Diamonds, Jewelry,
Silver and BUver-iiatedWaie, suitable for Holiday and
Bildul Presents. 12 11 tutbnlm
S I LV ER-WARC
FOB
BIUDAL PRESENTS.
G. RUSSELL & CO.,
No. 23 North SIXTH St.,
Invite attention to their Choice Stock of SOLID
eil.VKK VVAKJS, suitable lor CUlilSlMAfiandBKlUAL,
Pit KS BATS. i ft it j
HENRY HARPER,
Io. CSO AXCCII Stxeet,
Manuiscturer and Deaierin
Watches
Fine Jewelry,
Silver-l'lated. Ware,
81J
Solid Silver-War
PJCII JEWELRY.
JOHN BRENNAN,
DEALER rS
DIAMONDS, FINE WATCHES, IEWELRT
Etc Etc Etc
8 205 1 3 S. EIGHTH ST., PIIILAUA.
J-JOUSE-FURNISIIINQ GOODS.
EXCELLENT
OPPORTUNITY
BABOAINS.
TO SECURE
To close the estate ol the Into
JOHN A. MURPHEY.
Importer and Dealer in
llOlSE-FURNISIIIXa GOODS,
No. 033 CHESNUT STREET,
Between Klnth and Tenth, South Side, rolls.
Ills Administrators now offer the whole stock at prices
be.ow the ordinary rates charged. This sloes embraces
every thing wanted ins well- rdrod household i Plain
Tin Ware, Brushes, Woouen Ware, liunkeis, Fluted
Ware, t'utlery, lrou W are, J apanued Waie, and Cook
luu Utenatisoi ever? decriptiou.
A great variety of SIIaKs li OOODH, BIRD-CAOES,
OL etc.. can be obtained on the moat iesonstle terms
UKL,1NXAKC'1IC iiKl'klULKATOUa and WA iiCB
A flue assortment of PAPIER MACHE GOODS.
This is tbe lamest retail establlxlinient in this line In
T-liilsdelhia aud eitizrns aud stranners will Und it to
their sdvauiave to examine our stock belore purobaslnii
ute. Our irlonds lu the countrr may onlor by
irner oy i
mail
and prompt attention win dc aiveu.
111 1 thbtui
IT
N1TED PTATFS REVENUE STAMPS.-
Vrlnclnnl Denot Ko H04 CHKSSUT btreet.
Central Depot No. l3 B. FIFTH Htreet, one door below
t'nekuub Estublibed ltttij.
Itevenue Btainus ot evur Uesvilption constantly on
liSi'd in anv smiiunt.
Orders bj siull or Estre proTiipt'y atbjodod to.
SHIRTS, FURBISHING GOODS, &3
QENTS ; FURNISHING GOODS
SHIRTS KaDF. OF ME ff OPK
MILLS MU9LLM
cuy ft usual price s-1 w.
r 111 Kin MiAua
WAM3CITA atUSLCT Ol
SlTS .i.iial ririrf. a.VM)
HUI IH IK OH nnno liD'i mmm m oraC -
A llbi rsl deduction to wholesale trmte i . i
WKI.HH. HllAkrR. AMM'AftTON K t.A NNttf .. n
DF.fl.8Hl HTH AND DBAWER1', all and qua (tloa
A'o, FA nt T Nl.'AKrs. sat si'iss, Uli'JYKiS,
niKF"..PUaPEKDlt3,etc-, n great vartety. anil at
tasonaole prices. lllMm
T. L. JACOBS.
No. 13530 CHESNUT Street.
J.
W. SCOTT & CO.,
SHIRT MANUFACTURED,
sun fiiuu in
MEN'S FURNISIIINO GOODS"
No. 811 CHESNUT Street,
FOCB DOOKS BILOW THE
Smrp
"CONTIKINTAL,
rBLLADKLflUA.
pATENT SHOULDER-SEAM
SHIRT MANUFACTORY.
AND GENTLEMEN'S FUESISIUNa STORS.
PERFECT F1TTIKO BI1IBI8 AND D&AWK&
nsde lrom messurcn.etit at Ti n short notlos.
AllstberaiUcleaof ULJTLA.Ma H DHJ8S QOO&S
in lull variety.
WINCHESTER A CO, '
HIS Ko. 706 casatTUT Bireetl
Q.ENTS' . FURNISHING GOODS.
F. HOFFMAN, JR.,
(La'e O. A. Bodmin, successor to W. W. Kaigbt.)
FLNE 8I1IBT9, AND WKAPPElia.
HOBIEBl AMD GLOVaV,
611k, Lambs' Wool, a Merino
UNOER-CLOTHINC.
lOetuthstm Mo. H'tH ARCH threat.
LUMBER.
1867
SKIiECT WHITE TINS BOARD1 ,
A1SDPLAV&.
J .4 OA ft .LI . 1 . ..... I
CHOICE I Als t-L AJKD 1st COMHuN. IRleetloOii. 1 '
4-4, t-4. 6-4, 1, an, I and 4 lnch.
nnua r ipi tap Li. ia I 1 Fj Ha rii&KL 1 1
LAhUE AND BUPE1UOB STOCK. OH HAttlF 1 v
lOO 1 . BVILDINQI
LVMBE11I LUMBEBI LPMBEHU
4-4 CAROLINA FLOOK1M.
6-4 CAIIOLINA KLUOKINU. : . , i
4-4 DELAWARE FLODRLNO,
fr-4 DELAWARE IXOOBINU,
WH1TK PINE FLOOKittU .
ABH FLOORIHU.
WALNUT FLOOKI80. - '
BPHUOK KLOOhltJU.
BTKP BOARDS.
RAIL PLANK..
PLiHTERINO LATH.
1867.
-CEDAR AND CFPRESS
BHUtOLES.
LOM1 CEDAB SBIKOLRA. ,
SHORT CEI.AM SHIJVWLEa. , -
COOPER BHINtll.KH. 1 '
riNE ABHORTMENT FOB HsLE LOST.
No. I CKDaR LOOS AND POST'S.
Mo. 1 CEDAB LOQ8 AND PQ8T8.
1 Q AT LUMBEB FOR UNPERTAKER3t
JLOU I . LDUBER FOtt UNDKUIAkKnatl ,
BED CEDAB, WALNOT, AND PINK. ,.'l''"
RED CEDAB WALNUT, AND PLNK. ' 1
i CAT ALBANrLUMBEBOPALLKINDt
JLOO I . ALBANT LCMBEK OF ALL BLIND '
SEASONED WALNUT, TrT.77 t
BEAMONED WAIJiUT. ' ...
DR . VPLAB. CHEBKT, AUD kBSX. . . .
OAii PLANK AND BOABD9.
ROSEWOOD AN1 WALNUT TEHSKmJ ' ',"
i C AT CIGAR-BOX MANUPACTOREaa,
iOUli CIGAB-UOX MANUFACTURE El.
fcPANISU CK1.AB BOX BOABDB. .,
1867."
SPRUCE JOIST I SPRUCE JOISTt
bpruoe joist
FROM 14 TO !B KEETLOWO.
FROM 14 TO N FEET LONG.
SUPEBIOB NORWAY BOANTLIHO. ,
..,., MAL'LE, BHurft Kit s OO.,
11 ti 6mrp No. im BODTB BTREBT. '
pa H. V I L L I a r.i sv
LUMBER,
Sevenaleemii asfl hpriog; GueJen,
FIIILAOKILFHIA. ni2thnto2
J c. r E R K I N s,
LUMBER MERCHANT,
Successor to B. Clark, Jr.,
NO. 324 CHRISTIAN STREET.
Constantly on band, a hugs and varied assortment ot
Lul.olcH Lumber. 24
CUTLERY, ETC.
CUTLERY.
A line assortment of POCKET aaA
TABLE CUTLERY, BAZOK8. RA
ZOR BTROPU. LADIKH' BOiHSORI .
PAl-s.lt AND XAlLORd BUEAKN, ETC.. at
L. V. HELM OLD'
Cutlery Store, Ko. 135 frouth TENTH Htrtwt,
9 131 Toreedoors above Walnctr
FIRE AND BURGLAR PROOFSAFEb'
JJVANS & WATSON
MASUFACTUBir.9 Of .
FIRE AND BUROLAEPaOOS"
S A. F E S
BB9fOWH9 FOB
Baak.tMorcautll,or DwaLUai-.(aotHiU
Eatablished Ovar 2) Tjiri
Over 24,000 Safes ia II j.
Th only Mm with I0MA9
Never Lose their Fire-Proof ftaaLxj, '
Gttranteed free bosa. Daaipaeai, .
Bold at Price Lower than o'Jiar fltitoti
WARERCOjaSt
No. 811 CHESNUT Street,
PHILADELPHIA. 1 lj
J II. BURDS'ALL'S
CONFECTIONERY;
ICE CREAM AND DININCJ 8ALOON9,
No. 11Q1 CHESNUT St.,
GIBASD BOW. ' ; "
FBUIT AKD fOUND CAK.E9 of all slss, with a
lame assortment of C0NFEC1I0KEBY, etc., for the
HOLIDAYS. !aJHln.r?
UNITFD STATES REVENUE STAMPS."
Principal Depot, No. 304 CHESNDT Street
Ceutrel Depot. No. 103 8. FI F i ll Street one door below
1 Cbesnut. Esiaollshed IrtGJ.
Boienue Btaiups ot every duscrlpllon constantly on
hand in ar j amonut.
OrOsw l7 Mall or Express proiniitij otiended t.