G
THE DAILY EVENING TELEGKAPH. PHILADELPHIA, WEDNESDAY, FEBRUARY 6, 186
CONUIIKSSIONAI, FROCGKD1NOS,
Tta following arc the Confrresnioniil proceed
1bk of ymti-nlay, continued from our Fourth
JMittOi) : ' '
Washinotom, February fi.
Senate.
jdr. GRIMES, of Iowa, from the Committee on
Naval Attain, reported, with amendment, the bill
stenning me rana 01 Anmirai una stntt officers la
ike navy, and crediting to volunteer olltcera In
Ui naval and marine service, wbo may be trans
ferred to the regular service, the sea service
performed by them as volunteer ofHoers.
Mr.' FEKNENDE-N, of Maine, from the Corn
nntee on Finance, reported, with verbal amend
ments, the bill making appropriations for the pay
ment of invalid and other pensions for the yeitr
ending June 30, 1808. The bill appropriates $33,-
JfHLMlO.
Mr. TRTTMBULI,, of Illinois, Introduced a bill
to enable States to seleot swamp and overflowed
lands within their limits, omitted to be selected
nder the act of Congress of 2Hth September, lfc-50.
Referred to the Committee on Public Lands.
Mr. DAVIS, of Kentucky, Introduced a bill an
thonging the Circuit and District Courts of the
Veiled Slates to remit or mitigate forfeitures, fines
and disabilities in certain oases, which provides
that when any person shall incur any fine, penal
tv, forfeiture or disability, or shall have been In
terested in any vessel, goods, wares or merchan
dise which chnll be snbject to seizure, by force of
law, for levying duties or taxes, or any act con
cerning the registering or licensing of vessels en
Reed in the coasting trade or fisheries, shall have
been sued or Indicted In the name of the United
Ftntcs, the District or Circuit Court of the United
States trying such case, and rendering judgment
in the same, or In which the case may be pending,
shall have power and discretion on the tacts before
the court to mitigate or remit such fine or for
feiture, if In the opinion of the court the same shall
have been incurred without wilfnl negligence or
intended iraud on the part of the delendunt, and
also to direct the discontinuance of such suiton
such terms as said conrt may deem just. Keterred
to the Committee on Finance.
Mr. WILSON, of Massachusetts, Introduced
the following, which was considered and agreed to.
Resolved, That the Secretary of the Treasury
be directed to report, for the Information of Oou
rrees, what amount of money has been received
from sales ot cotton or other property turned over
to the Treasury Department tinder the several
laws of Congress, and what disposition has been
made of the same; whether any of the money has
been paid or refunded to claimants, and if so, the
name of such claimants, the amounts severally
paid, and nnder what authority of law, and upon
what evidence such payments have been made.
Mr. HENDERSON, of Miseonri, Introduced a
bill to authorize and provide for the construction
of a military and postal road from Galveston,
Texas, to Fort Gibson In the Indian territory, with
a branch to Little Rock, Arkansas.
The bill grants the right of way over pnblic
lands, and requires the government to issue to the
company 4l)u,liuu in United States bonds for every
twenty miles of the said road laid with double
track, wben in running order. Referred to the
Committee on the Facilio Railroad.
Mr. "WADE, of Chio, moved to postpone all
prior orders and take up the one term constitu
tional amendment.
Mr. POLAND, of Vermont, hoped not. He
toped the Bankrupt bill would be taken np and
disposed of.
Mr. WADE said there was no prospect of reach,
lag a vote on the Bankrupt bill. Members were
still anxious to speak on it, and there was no tell
ing where the debate would end.
Mr. F ESSEN DEN, of Maine, hoped the Bank
rupt bill would not be laid aside. It was an im
portant measure, and ongbt to be passed.
Mr. SUMNER, of Massachusetts, said the con
stitutional amendment did not need the signature
f the President, and might therefore be acted on
up to the last day. With a legislative bill it was dif
ferent Senators wonld see the reason for passing
important bills at tbe earliest possible day.
Mr. WADE, of Ohio, withdrew his motion, and
the Bankrupt bill came op, the pending question
being on the amendment of Mr. Howard to strike
nt the 37th section, which applies the provisions
of this act to all corporations and joint stock com
panies, and contains a proviso, "that whenever
any such corporation or joint stock company shall
become bankrupt, such decree in bankruptcy shall
work a forfeiture of all the franchises of such cor
poration, and the affairs of such corporation shall
be wonnd np in tbe manner provided in this act in
respect to private persons."
Mr. POLAND, ot Vermont, moved to amecd the
section proposed to be stricken out, by inserting
the words"moneyed and bnsiness"before tbe word
corporation, and by striking out of the proviso the
words "such decree of bankruptcy shall work
a forfeiture of all the franchises of said corpora
tion, and the affairs of such corporation shall be
wound np," and inserting in lieu thereof tbe
words "its property and assets shall be distri
buted among the creditors of such corporation."
The amendment was agreed to, and tbe question
was then taken on striking out the section as
amended. Disagreed to.
Mr. FOGG, of New Hampshire, offered an
amendment to strike out the following from the
thirteenth section:
Provided that when tbe number of creditors
present amount to five and less than ten, the votes
of two, at least, shall be necessary for a choice;
and when tbe number of creditors amounts to ten
er more, the votes of three, at least, shall be neces
sary for a choice."
The amendment was agreed to.
Mr. FOGG, of New Hampshire, offered an
amendment that no discharge under this act for
debts contracted before its passage shall be made
without tbe consent of three-fonrths of the credi
tors wbo have filed and proved their claims.
Mr. Fork spoke against the bill as a dishonest
measure, calculated to be of no benefit to worthy
and deserving men. He wished to utter a solemn i
protest against it.
The amendment wag disagreed to.
Mr. SUMNER, of Massachusetts, moved an
amendment, by way of proviso, that no judge
shall proceed to the eonsideration of a petition tor
voluntary bankruptcy until the petitioner shall
have taken the test oath of the act of Congress of
July 8, 1M13. In ottering the above, Mr. Sumner
said a great many persous went with rebellion for
the pnrpose of repudiating their debts. He wished
to prevent them from reaping the benefit of that
rebellion nnder this bill.
Mr. JOHNSON, of Maryland, did not believe
any such motive influenced secession in the south.
Mr. SUMNER subsequently modified his amend
ment so that in administering the oath such words
as make it applicable to the holding of any oilice
shall be omitted.
The amendment was debated by Messrs. FKS
SENDEN, SUMNER, POLAND and HENDER
SON, and was then disagreed to. Yeas 1U; nays 30;
as follows- 1 '
Yeas Messrs. Ohnndler. Cragin. Fogg, Fowler,
Howard, Lsne, Potneroy, Sunnier, Wade, and Wilson
Nayi-Messrs.Brnwn, llnckslew, Oonneis, Cowan,
Savin. Dixon, Doollttle, Kdiuuuds, Fesseuden, aos
ter, Harris, Hendersou, Hendricks, Howe, Johnson,
Kirkwood. Morgan, Morrill, Norton, Patterson, I'o-
i?ndt,.yB.n,"e?,,,f"B.?aul8l,nr' Sherman, fctewart.
Van Winkle, Wllley, Williams and Yates 30.
Mr. EDMUNDS, of Vermont, ottered an amend
ment as a proviso, that all citizens of the Onited
States petitioning to be declared bankrupt shall
tile an oath ot allegiance to the United Stated with
their petition. Agreed to.
Mr. HENDERSON, of Missouri, mot.d to
amend by making the minimum amount of in lebt
ednees lor which voluntary bankruptcy m.'.y be
instituted $1000, instead of $300, as in tbe Liil of
the House. Agreed to.
Mr. FOGG, of New Hampshire, moved to insert
3300, instead of S'SUO, in the place alluded to. Dis
agreed to yeas 10, nays'JU.
The bill was then taken out of Committee of the
Whole and reported to the Senate.
Mr. SUMNER, of Massachusetts, asked for an
other vote on striking out the lollowing: "And in
all proceedings in bankruptcy commenced after
one year from the time this act shall go iuto opera
tion, no discharge shall be granted to a debtor
whose assets do not pay fifty per cent, on the
claims against his estute, unless, the assent In
writing of a majority in number and value of his
creditors who have proved their claims is tiled in
tbe case at or before the time of application for
discharge."
Mr. BUCKALEW, of Pennsylvania, moved to
amend tbe text of the above by striking out the
words "commenced after one year from the time
this act Bhall go into effect." Disagreed to.
The question was then on striking out the clause
above qnoted.
The amendment was agreed to, and the clause
was stricken ont.
Mr. HEN DRICKS moved to strike out the (pro
Tislon requiring tbe registers of bankruptcy to be
appointed upon the nomination and recommen
dation of the Chief Justice of tbe Supreme Court
of tbe Untied States. Disagreed to.
Mr. WILSON said he Intended to vote against
the bill because of the amendment adopted this
afternoon. He thought the bill a good one as it
came from the House.
After further discussion by Messrs. Cowan and
Snmner, the vote on the bill was taken as follows:
Yeas Messrs. Chandler, Oonnass, Dixon, Doollttle,
. Idmnnds, Jfseaenden, Font or, Howard, Howe, Jubu
soa, MoloDgll, Morgan, Morton, fuland. Pomorof ,
Jteiuatv. Roes, Btewart, Bumner, Van Winkle ai.
Mays Messrs. Brown, Buokalew, Ursula, Davis,
fowler, Urimei, Harris, lUiidersou, Hendricks,
Klrkanod, Lsne, Morrlll.'Pattereoh, "anlshurr, Bhr
nen. Trnnionll, Wsde, Wilier, Williams, Wilson,
Yates li.
A sent or rot voting Messrs. Anthony, Oattell,
Cowan, t'resswell, rre inghtiysen, Guthrie, Nosuntb,
!r-. Llddle. rpragua 10.
So the bill wns lost.
Mr. HARRIS originally voted In the affirmative,
but changed his vote for the purpose ot enabling
him to enter a motion to reconsider.
Mr. WILSON entered a motion to reconsider,
and the t-enate then, at 5 P. M., adjourned.
House of Keprescmtatlvest
The Hoafe then, at ten minutes past two o'clock,
went Into Committee of the Whole on he State of
the Union, Mr. GARFIELD In tbe cb Ir, on tbe
President's annnal message.
Mr. HOOPER, of Massachusetts, took the floor,
and addressed the House on the bill to amend the
nntlonal bunking law. He Bald:
Tbfl principal ot ioot of the hill la tn nrovlde the
power which experience bas shown to be necessary to
enforce ihe requirements cf the original law, by en
laigfrgthe authority of the Comptroller In cases of
neglect or refnsal on the part of tbe banks to conform
to those requirements.
It r ncere some provisions of the law mors clear and
definite; and it prescribes the mode of prnoeedins by
receivers, who may be appointed to elose np tbe busi
ness of a bank.
it requites all the banks in the cities named as places
for the tt demption of circnlaiinaj notes, to redeem at
New York not only their own circulation, bnt also the
circnlation of any bank for bioh tbey act as redeem
in agent
It prohibits the banks from including and reporting
compouiid-intaruat treasury noted, or any balance duo
them, which bears interest, as pari of their reserve of
lawfnl money.
It changes the law In reference to usurious Interest
to I be foi leittire of the whole debt, instead of the for
feiture of the amount of interest, as proscribed in tbe
present law.
It provideacirculatlng notes for new banks organi.od
nnder the law by scaling down ibe proportions to the
existti.g banks, and requires any excess over the new
allotment of circulating notes to be returuel to the
Comptroller.
It rednces the national taxation on tbe circnlation
of the banks to half of one per cent, per annum in
stead of one per cent., as provided in the preseut law.
The tax of half of one per cent, on deposits is con
tinued, and the tnx of half of wne per cent, on the capi
tal of tbe barks is repealed.
There are tbe prlucipsl amendments proposed by
this bill.
The returns published of October 1, 186?, show
U42fl.HHi.ln das the anion nt of United States securities
bclonsir.ff to the national banks: of which over S3JI-
(m(i,h ii were deposited In the Treasury as security fur
their circulating notes. It oould hardly be deemed
wise and expedient at this time, wben it is so desirable
to bring about a Bottled 0 nuitlou of tbe currency and
flt.nncoB. to disturb this large investment by requiring
the national banks to be wound ui, and their notes to
be wilhiirawn trom circulation to substitute United
btates legal-ti nder notes iu place of them.
I r.aimot ilonlit that it la the settled onlnlon of this
Congress that the amount of circulating notes of the
national banks should not be increased oeyona me
.13IKI.UI 000 now prescribed in tbe law. If more paper
money is needed, it wonld bo far tetter to luoreaae the
legal tender notes issued by the government, so that
the profit to be derived from any Increase of the papor
circulation would be reserved to ihe government. I
sbonld be in favor of withdrawing all tbe circulating
notes of the national banks, ana substituting legal
tender government notes for them, iu preference to an
increase of the amount of banknotes, believing, as I
do, tbat tbe amount ot 8,HKJ,(H0,0OO now authorized Is
as much if not more than the banks can sustain, If we
are ever to resume specie payments. If we are to have
Irredeemable paper money s the permanent currency
of the C' nntry, 1 would prefer to have it all issued by
tbe government.
Ibe governmont legal tender notes were not proposed
to take tbe place of coin. T lie currency of t he country
at that time consisted of the notes of Btate banks,
which had all suspended specie payments, with must of
the coined money of tbe country locked up in their
vanlts, by the sale of which the banks afterwards re
alized a large profit in legal tender notes. The Ques
tion then presented wan, whether the government
should borrow Btitie bank notes at a higu late of in
terest, lor tbe pay ment cf the army and for carrying on
tbe war, or whether they should issue for that purpose
notes of their own, without any cost for iuterest. This
latter alternative was adopted; and tbe legal tender
notes turuiahed to the treasn: y over seven hundred
nvllions of money, nearly five hundred millions of
which was without any cost for interest, at a time
when the government was in most pressing need. It
did more; it stimulated industry, and provided tbe peo
video the people ol this country with the ability to
lean tbe government 92.000,(M,oo!) to continue the war
until armed rebellion was conquered, and the power
and authority of tbe government was asserted and re
cognised throughout the whole country.
It cannot be denied, however, tbat this was attend
ed by many serious evils, which were subsequently de
veloped, it operated unequally and unjustly ou dif
ferent interests, But the life of the nation was at
stake tten, and no one who claimed to be loyal stop
ped to consider, or hesitated to make any saoridoe
which theexigtnov of the country dem-.nded.
Now tbe question is presented what shall be done
to arrest those evils and bring the country back to its
normal condition, in which industry will be satisfied
with securing the legitimate rewards i f labor J he
otjectot the government should be now, to give em-
filoy men t to the industry ot the country by relieving
t from taxation, and by euconraging in every way the
development of 1 s resources, it should be understood
that the nnnsual powers which tbe T reasury liepart
ment bad exercised to sustain the war will not be con
tinued beyend the exigency that rendered them neces
sary. In a condition of peace'the revenne of tbe govern
ment ought not to exoeed $300,000,01'", or at most
flttO.OUO.Mi O which should beamplo provision for inte
rest on tbe public debt, as well as all current expenses
of the government. But the speedy rednction of the
dent is a matter of small importance compared with
that of relieving the productive Industry ot tbe coun
try from tbe heavy taxation with which it Is now op
pressed. 1 bave not been able to joiu In congratu
lating tbe Secretary of tbe Treasury on the progress
tbat bas been made in the reduction of tbe debt during
the past year, as it seems to me our Industry could
now ill atlord It. When tbe debt of the country has
been funded, the enrrenoy restored to a sound condi
tion, and our industry so far relieved from taxation
tbat tt can compete with tbe labor of o.hor countries,
we can then better commence a more rapid reduction
of the public debt.
The only way in which the currency of tbe country
can be made equal in value to tbe money of other coun
tries, is by gradually reducing tbe amount of paper
money, until what remains in circulation Bhall become
tbeeqnlva'entof coin. The constant and increasing
supplies of the precious metals now produced iu this ,
countr, wouid rapidly furnish a sufliclent amount for
all bnsir.ess aud other requirements, if used tor cur
lency, instead of being exported, as it Is now, to p iy
for importations of the products of foreign manufac
ture, to compete with and discourage the industry of
our own people.
I concur wltb most of tbe arguments in the learned
speech recently delivered by the geutleman trom Penn
sylvania, (Mr. Kelley;) bnt bo made one statemout
which did not seem to me consistent with tbe geuoml
tenor ot his remarks on the subject of otirrency. He
asserted, if I understood him correctly that tbe stand
ard of tbe value of the currency should be the re
sources of tbe country aud tbe integrity of the g .v
emment, and not gold and silver. There Is no other
standard now ot tbe value of a dollar in this country
thau wbat the gold speculators in New York deter
mine for it each day, and from hour to bour; but gold
is tbe standard by wbiob the value of the dollar is
computed by them.
Whatever we Issue as currency, by whatever name
we cail it and w hatever laws are passed In reference to
It, the loreign exchange will determine its value by
the standard of gold and silver, and it will pans as
currency according to that standard of value, lam
not In favor ot an immediate resumption of specie pay
ments, n' r am 1 ready to name a time when I think
specie payments should te resumed; bnt in my judg
ment that moat desirable event should be constantly
kept in view, and any leglalatlou calculated to retard
itabtuld be strenuously resisted by every one wbo re
gards tbe honor and the true interests of thecouutry.
It should be understood by evei y one tbat it Is the
settled policy of Congress to reduce the smount of
paper money until its value is restored aud becoiaes
equal to coin. 1 do not believe it neceaaary to with
draw all the legal tender notes to accouip'isn th'tt ob
ject, nor do I believe It necessary to coutract their
amount to such an extent as to derange the business
of the country.
One of the great causes of money panics, wbloh so
many seem now to apprehend, bas heretofore been tbe
absence of any security for the btate bank notes.
The notes of all tbe national banks are made abso
lutely as tecure as the government ilaell; by law they
are recelveu at par in all parts of the United States in
payment for taxes aud all other dues to the govern
ment, except for duties ou imports, and for all debts
owing by the United States, except Interest on the
pubilodeht. This imparls snch a degree of security
and confidence to the national bank notes that they
circulate as well after as belore the failure of the bank,
There Is never any general demand lor coin amoug the
holders of bank notes bo long as there is coutideuco iu
the security of the notes. J
Nor will there be any general demand for coin among
those holding "deposits" in banks, so loug as the for
eign exchanges are not against tbe couutry. But when
acouiinuation of high prices bas encouraged exces
sive Importations trom abroad, and has disnouraued
the shipments ot our own products to foreign coun
tries, there is an outward flow of specie created by
the demai.d tor export to pay the foreign debt which
1ib accumulated. But tho merchants aud baukers
owe that foreign debt, aud uot the couiniuultv who
hold tbe circulating notes. Tbe merchants aud bai It
ers at such a time willdemaud their deposits fr.xu the
banks in specie. If auy uatioual bank tails under that
demand, the security for its cuculatiui notes is pot
altected. , , .
Auun avorable condition of tbe forolen exchanges
Is luimidiately indicated by an increased demand lor
specie. Under a prudent system ot bank management
that demand for specie could generally be met without
seriously disturbing the business of thecountry.
I bave been supposiui aud calling attention to a con
dition ot specie payments with uo other lawtul money
but coin, iu which banks could redeem their liabili
ties, winch bas always beeu the case in this country
heretofore when the banks paid specie. We have yet
to learn what the eliect would be iu a condition of spe
cie payments in which tbe banks are authorized to re
deem tin Ir liabilities in legal tender notes, as well as
coin, boib being lawful money. I am by no means
certain tbat tbe same per ovntageheld by the Treasury
in coin ot the legal-tender notes la circulation, wb.ch
tbe bank law requires to be held In .lawful money by
banks In the city of Kew York of their liabilities,
namaiy, twenty-five per cent , might not bs sultlcient
to secure specie psymentson the part of the govern
ment as well as tbe banks. . . ,
But experience only can teavb us what amount of
paper money tbe government can sustain, and what
amount of liability the banks cau sately sustain, un
der the condition of being redeemable on demand in
specie. Ol one thing we can be certain, which Is, tbat
tk larger tbe aoivuot otspvcie held in reserve to
r i
ireet the redemption of the paper money, anil the
larger the ainoi nt of speeie Id the country, the larger
will be the am, nut of paper money that can he sus
tnlied In circulation. ,
The r. sumption of apecle payments cannot be
brcorht ai out by a contraction of currenc- so sudden
and extensive as to disturb the Industry of the coun
try ; It must be by such action . n the prtoi ton banks
and the government as will render coin as valuable
here as It i In other countries.
11,1, o. tintry Is now the largest producer In the
world of the prec ou, metals; bnt it may well beqnes
tloned v hether tbe country derives any benefit from
this nnrlvalled production so long as we tr. at It as
n.erchai dlse, alio of no use except to bs shipped abroad
and Its prooeeds retnrned tt us In foreign mannUo
tur.a. Ibe in ury this Inflicts upon our own manu
faitnres and onr own industry more than counter
balances the gains of the miners
.i'J !'.t?-b" nor,ll "t Congress will resist all
attiBTirtstotemnye the limitations an I restrict! .ns In
the bank lyw. which were Intended as bouuds, outside
ol wbloh tbe banks could not lawfn ly move with Im-
f.VVft.MSw ..'f V.' Pro"Pef"y of the country; and
that the amount cf their clrcultatlon will ml be In
creased, nor tbe amount of reserve of lawful money
Ii has been orgen that en Increase of paper monoy
Is reeled to encourage Industry and to lift the bust
ft?', 1,1' fei'.Dir7H.nVof the lnnishlng condition
'"I. w5 fn u, ,d "obits recently fallen.
mn, .i v . lhl. Iin,. i.i "? ' """
- J... .I,. TV . ... um ine manufacturers or
J,L?iA6 rie5" of l"b?r- Jt "o11 ""Ir promote
;im'?LrS;.!n.) by prices still higher, ln-
n-iV." "'i"' "'"ah.cturing anrt tlie e,pea,0 0r
In."r.rf ,i.W,;??.?n n tne olnr hand, a judl
c ons reduction of theounency mightonne a gentle
S!;h;r.t Tft nVot''.,n ! f b"k aSiinmolent to ri"
5,,.?MtiS.f,ir,.Jn',l"r,l' " tu manufacturer
could again fflnrd to start their works, and their
worknieo could sftord to live '
LLlin.cJJ?HlJiJ.,per,n.,;D'ye,tner In bank notos
or .f gal tender notes, wonld not render money cheaper
,ri.To;df.rri.v;,,rc.hth''ndBi,tr' of tha -
i.fii't.'KL'v0"',?.68 ,h? focnmnlstion of bank ba
rt . itrrL0!11 b' Prohibiting banks fn.rn return
ing ar part of their reserve any balanos bearing lu-
Sc.CJ?i i'.,"Ter thero happens ti be auy unusual d
tbem and tbelr ready command for speculation. It la
ii.- u. did a s snail not pay Interest on ba-larc-s.
bnt tbat such balances bearing Interest shall
not be counted by any bank as part of its roserve of
law ul money.
It Is nupleassnt to many persons to listen to the sug
gestion that. a bank can be weak or fraudulent, or im
prudent. Ibey seem to comidor It Irreverent. Kor
the benrflt of those who entertain the Impression that
all banks are Immaculate, a d do not require any re
straining inline', tes of law, I wonld refer to the frauds
developed among banks during the past year, and to a
recent letter by Hon. O. V. Oulver, whloh gives some
insight into tbe actual management of banksiaj
"In If 61 my office was opened at Franklin, and from
a single private office cur combination extended until
it embraced twenty banks aod banking-houses. I
bought and deposited the securities, and exobanged
thtni for others, at my own discretion, subject only to
the appioval of the Au iitor General. Yon the presi
dent end directors) never troubled yourselves for a mo
ment to know what I was doing or why. It was left
entirely to me to determine wben tho circulation should
be Inert a' ed or diminished, and the securities depos
ited therefor withdrawn. "
Mr. Hooper It would seem as If there should be
some legislation to regulate and secure the publio
against mismanagement of banks, when twenty of
tbem can be managed by one individual, the president
and directors never troubling themselves tor a mo
ment to know what was done in the bank, nor wby
anything was done The banks need some regulation
and lestraint for their own good as w ll as fqr the se
curity ot the public. Nothing can be more whole
some in its effects npon tbem than the requirement to
redeem tbeir circulation and to discourage the accu
mulation of their funds in tbe large o. ties to be used
for speculative purposes.
Tbe managers of banks do not generally recognize
the difference between tbe national bank circulation
and tbat of tbe old Mate banks. Tbe notes of the
most obFcure national bai.k on (he most distant
frontier bas npon it a stamp uf nationality which over
rides any security given to it by the bank purporting
to issue it, and it circulates from one end of tbe
country to tbe other as readily as a government legal
t nder note. T he bank that issued it is bound to re
deem It ou demand in lawful money; hut wbo wishes
to bave It redeemed? other banks do not; they are
too glad to use it for curreucy, aud tbe lawful money
in which it would be redeemed would generally have
no greater value than the bank note.
It $9,0UO,0OU was added to-morrow to tbe circulation
of the national banks In Maine, tbe whole of it would
be incorporated at ouoe iuto tbe great mats of the cur
rency of the country, and tbe Btate of Blaine would
get only her proportion of t be whole mass, as she does
now. 1 admit that it would be a source of prolit to
those banks in Maine that reoelvcd it, but it would
decrease tbe pecuniary resouices of tbat Bute and di
minish the smount that those banks could loau to tbe
people theie, as they would have to invest more than
ten millions of tbeir money in government bonds,
which sell at a premium, to obtaiu the nine millions
of circulating notes which they wonld add to the gen
eral muss ot the circulation of the country.
A majority of tbe Committee on Banking and Cur
rency were opposed to any increase of the circulating
notes of the national banks beyond three buodrei
millions. Bnt recognizing tbe justice of the claims in
various States where few or no national banks are
rrgantzed. and of Btate banks tbat Beck to be organ
ized as national banks, tbe committee conld suggest
no fairer or better way of providing for them than to
redr ce the umonnt of circulation allotted under tbe
law to tbe existing national banks It was proposed,
therefore, to obtain tbe additional amount required by
rtdncing tbe present allotment ten per cent, of all the
banks, which furnishes a margin cf thirty millions for
Dew Institutions to be organized under tbe law.
This leaves In the law what has always seemed to
mo to be its most objectionable feature in principle
and the most dangerous provision in practice, tbat is,
the authority to a national bank baving uot more tbau
SfiOO.Uiu capital to invest its whole capital in United
btutes bonus as security for ciiculating notes, reserving
uo portion of capital for its business of banking. More
then tbst, the law n quires tbe bank tn bold iu lawful
money fifteen per cent ot the amount of tbe notes as a
reserve to secure their redemption on demand; but
baying invested all its capital in bonds to secure the
notes, tbe reserve required can only be obtained, di
rectly or indirectly, by borrowing. This seems so me
orjectiouab e iu principle. It simply provides a mode
of obta.niug from tbe goveri moot without Interest
89U.UJ0-in notes that will circulate as money, aud
which, to all Intents, are as good as the same amount
iV "'"hder notes, on tbe deposit of Siuu.'.uu iu
United States bonds as aecnrlty.
It seems to me that tbe allotment of circulation by
the existing law, and as proposed by this bill, is wrong
in principle. T he A cting Comptroller ol the Currency
proposes an ametdmeut, wbicn I shall oiler at the pro
per time, Ly which the margin of circulating notes for
the organization of new banks will be increused to
nearly lorty millions of dollars, aud snilicieut, iu the
opinion of the Ccrupt roller, to meet all the require
nieuts for new banks for teverat years to come. For
the information of the House I beg to call atteutii n tu
the lollowing letter of the Comptroller:
iRKABCk-V DuPARTMKNT, I FINCH (IF COMPTROLLER,
Df,.1",8 I'PRkncy, Washington, January 7. 1867.
ii... ?i .ord?.r to BV0id 1 '"eliminating specifically in
S i. 8 tbe mcunt of circulation a bank may have
?,P"n'"cPitBl,I would suggests scale like tbe fol
!..".'8. iendmeut to the House bill, ' and the
Si, iv. i"u-cU circulating notes to be furnished to
iaid ?,c laV," fb 1 not h0 ""ore in propoUlon to its
PJd-uP capital than as follows :
yn the first S&oo.iliKy bf nald-nn canital. anventv.
live per cent, of such capital; on the miennd ansiui.nuu
foUowV!chedule WonId 8ive circulation upon capital I
1st,
1 ti i. , , 7 " 1
One Lank ot ton V.in"1-' ll u,tuu (mo l,W,tio
to the amon Vf Ti'i?.".. .?"'" deposit bonds
hiuy teiasued to th .r.': r.'Vupi'.u..r,'lcl circulation
treasurer and cauceliuia u"," redeemed b the
21.tat.6.. l2av tl.a.0nn,Ue nr,t of n,0,'"
B4U, none of v. hicli are no ,n0' outl,f"0"ig 81.oU.-
.;uiiiii:ni or t'ctober Im ,i " "u" as mouy
SM,16 etktof tbeBe coma m,.,it.be "Clonal banks held
i",r"e.r-.. ' "r v. b Ju,.
constitute uo partot the mir,..."'U)e,lt
they therefore
held and leturued by the national i far ' tbey are
their reserve they take the n ?. ,1,uauk " Part of
money, and tbeir use aud tneot on ?L ":uuu lawful
the sniiie ss an euual amouut of ti?. ei ' Preoisoly
tender notos. bulled hiatus legal'
nimi tv auiuorixing ths lain- . .
legal tenner notea detlaied them ti, hiT,Dni.te1 States
1 be act which authorised the ro!.;.. 06 lf.il nuuev
L in 11.11 1IIBHH lllt.fl, I.U'.nl ... . . - "
tmake them "lawful mono, i a.1'1,,trt notes
these Treasury notes bad never bee,; h V' fct that
money of the (inited Ktates,Mu COnn "a '''""
provision against their being a le.a? ,i 5U iu the
ments tor the redemption or bank note. "r ,,Q
to be sultlcient to exolude them trom heiio f , el'd
banks ss part of tbelr reserves of lawful i,,., d by
managers of bauks who return thorn as dL.?"
reserve evade the letter as well as the spirit ot.. tll"'r
tipnal Bank act, which re.(uires the reserve N,
"lawtul money of the United Btates 0 be '
No one can donbt that if It is desirable to with,i,.
nd caucel auy notes tbat have been issued by the b,7
ruineutaud used as money, these oompouud-lutereit
, . 1 , BiiouKi ne oral wuuarawo.
It it would make too great a contraction tn a simria
J!r.f.0,"'t,ndrwtl"'"eno,M'n daftlon to tha .
(Hjo,0(0 1egsl.tender botes which are to be withdrawn
iu each mouth, that law misht bs repealed, or its oVa.
ration bs aipiidd, t lst for the arsssut tear.
in, uiiiii in i BnrceivA nnur . w
v,.i.V. I . 7. ",,(Ta 10 Py interest on such
! ,.C n l "2 '5 th ' cities, and particularly In the
city ot hew York, are generally sustained by snob
,, iiviicv iun Dsnnii anil fi in- in i.inh
. t " Tw 'l?a ,ol4n" cauuot be prohibited,
l!V.rb.onMa,be rtouraged. These balances are
accomnlatei in New York from banks In all parts of
lueaooniry. ior ine hhsa nr thA ini..i
u i i,k n.tin ... ..
tlimlii.H a,,.' 7 l oi anon capuai; ou
such ck. i.f 0'0,illof .P8iu-ni capital, fifty per cent, of
iSJtv n,Jr ,n;ou ile ,ourtn 9M,WU of paid-up capital,
laid n. r..;ff.?I1ch "P1""! the nf,h 6W.uW
the sixth hum ;utblty,Per "nt- of "ucb capital; on
cent " of an?w' T f Pft'5 n' cP"al, twenty-five per
ot raid 5HC"!' i on he fourth and fifth millions
onafl tiSid n-,U1,,tuP Percent, of such capital, and
shaU b "i'.nLiC'p,Ullovfr uve ml'llous circulation
law reunire.mnlpoufu.e bon(, deposited, which the
btMes Sot "W 1 reorer of1 the United
oia.es, not exceeding one-third of tho paid-up capi-
8(lKl.nnn at 7S ....t
2d . ii n ii i. L . r , s.vo,'iu"
id. litiuStJ,rc,'nt MU 8 1,000.000 ffti7S.0OO
6th) ffiONJ, .!.,p"cel,J-t W'.tioq 2,6oo,eo,) 1 a7S.ii
tU. 1.W0 Ik l f u,PCrCBUt- Lo.1'10 3,IHI',ili0 1 4111,01111
6 I, i h, "J Percent , Imhkio 4.ik-i.(iii() 1.6'HUhhi
m r. HooDer 'ri7i- i.r, w
itated. to nrobTb.t tim , Lpr2p0"t'"- 89 1 he u"for8
sury note.V. Sari V, tl. v 0t COD"""'l interest trea
uuifed iu the national hJhSat,,f. ol US" mo"'' r"
suedbytlieTrSasuri li.- Tua to al .mount Is
and of ti,. i?"ur,..Dttartmenthasben. A :at mviiii.
"Mury notea as partof
oie,,e, exo.usiva of . . ",01 lawiui money
compound treaauiy notes ,t6olet but iuoludiug the
It is a mistake to s- noose ,.
accrued on the comSuna-li.tel"faui,e " Interest
tsusis ibem to be ha d iJL'lTt Ireaaury not..
When the crmpoond Intersil Trury notes ea
t hk"T-i lm "l1""" Tln "ieta he nsti ual
banks now Impart by holding and retnrnlng them -s
awful money, the bans, will more readily part with
them, ami those notes wonld then be redeemed gra
dually. I may be eiamii,,,. tr. ,.i r.
any sales of gold from u,. t. ' 'J"'L" "'L
, par, in ocmpound-noie.; "the fttTrsSt To-
Of
1.;.,u '"easnry notes.
notes Attheregol r session of t ,- r'V.T- i"""!"
in Hecember r ext. as may h. pe that "tha . r.?nYt , ihi
.ecretary of the treasury will exh b t . nrfmin i"n
which there will be n . m""
tiement to emha rass the Treasury n" 'or
1 believe much could be done during this yesr to pre
pare the way for resuming specie !mni. iiih
Benefit Instead of Injury to the Tirus Interest if llnor
atd bualness, if Ihe banks would eo 0De7.t -Phi
banks can check the export of specie so that th. r
clous metals might accumulate here to hasten ri ,l
tlon. To reduce the loans ot banks, wblch"noonrai';
large importations and promote speculation, woliul
bave more . fleet in aiding resumption thin tujoon
traction of the circulation. miiiooo-
1 belli ve that all tbe amendments of the Bank art
proposed In this bill would tend to promote mora Tarn
ever the resumption of specie Payments occurs, it will
be brought about In one of two ways: eunor !, ,h
banks co-operating with the Tressnry l)j artment in
wise and jndlcloiii measures to bring u shunt orL.
dually and without disturbing Industry; or failing In
tbls.it will be abruptly forced nn the oonntry by a
pu-l.o clamor which, regardless of couseqoenoes will
no longer submit to conditions that Impoverish the
coutitiy for the benefit of importers, blnker., aid III
whole various and motley tribe of speculators
Alfer Mr. Hooper's spe-ch the cummlttee took
np tbe Indian Appropriation bill, which ap
propriates to carry out the stipulations of Indian
treaties, &c, a little over two and a half millions
of dollars. The bill contains a provision that no
moneys or annuities shall be paid to any tribe In
hostility against the government or cltiajus of the
United States.
On motion of Mr. BRADFORD, of Colorado, a
proviso was added to the paragraph making an
appropriation for the expenses of the Indian
superintendency In Colorado, that no part of it
should be distributed by Alexnnder Oummlngs.
the present Superintendent of Indian Afiairs for
Colorado territory. s lu
On motion of Mr. HOOPER, of Utah, the ap
propriation for incidental expences of the Indian
lervice in that territory was Increased from 815 000
to i5,(.00. '
Mr. KASSON, of Iowa, stated that there was no
siipertntendency in which the Indians were so
well managed as in Utah.
The Committee rose and reported the bill
1 he SPEAKER presented Executive documents
as follows:
From the Secretary of the Interior, in answer
to a House resolution of January 17th, relative to
the accounts of the State ot Texas with the United
States. Laid on the table.
From the Secretary of the Treasury, in answer
to a House resolution of January asth, relative to
the amount of taxes annually paid by national
banking associations to the United States and to
the several States. Referred to the Committee on
Banking and Currency.
From tbe Secretary of the Interior, In answer to
the House resolution of January 29th, concerning
the massacre of United Suites troops by Indians
near Fort Phil. Kearny. Relerred to the Com
mittee on Indian Allaire.
Mr. FINCK, from the Post-office Committee,
reported that there was no legislation necessary to
allow members of the present Congress to exercise
the franking privilege until the first Monday of
December next, that being provided for under ex
isting laws.
Mr. WARD, of New York, presented a petition
of lllty-one leading citizens of Elmlra in favor of
the restoration ol Commander Abron K. Hughes
to the active list in tbe navy. Referred to tne
Committee on Naval Affairs.
Mr. VAN AERNAM, of New York, presented a
petition of Leroy Waller, Anson Oibbs, Erastus
Iilckinson, and Jabez Blackman, sailors of the
war of 1S12, praying Congress to grant adequate
pensions to the surviving soldiers of that war, and
to the widows of those wbo bave died.
The House, at half past four, adjourned. .
ENGINES, MACHINERY, ETC.
PENN STEAM ENGINE Axn
BOlLEK W OKK8. MKA FIF Jr. T WW
TlrCxKjAL AJ1 THi-OKETlCAL ENUIXEEfw'
MAtHIN 1ST8, BOJLEK-MAKEK8. BLACKSMITHS'
and t OUADEBS, bav'ng lor many years been In iuy
cesstul operation, and been exclusively engaged in
bulldl g and repairing W arine and Klver Engines, high
and low pressure, Iron Boders, Water Tanks. ProueV
lers, etc etc., respectfully oner their services to ths
public as being tuny prepaied to coutract for engines of
all sizes, Junriue, Klver, and Btatlonary; having sets o!
patterns of ulUcreut sizes, are prepared to execute orders
with quick despatch. Every description of pattern"
niaklng made at the shortest notice. High and Low
pressure t ine, 1 ubular, and Cylinder Boilers, of the best
Veimavlvaula charcoal iron, i orgings of all sizes and
kinds; Iron and Brass Castings ot all descriptions: Hob
turning, Screw Cutting, and all other work counectad
with the above business. vuuvmjU
Liiawings and specifications for all work done at
the establlshtne it tree of charge, aud work guaran.
teed. " ,
ibe subscribers have ample wharf-dock room tor
repairs ot boats, where they can lie m peifeot satotv
aud aie provided with shears, blocks, lalls. etc. ebf '
for raising heavy or light weights. '
JACOB C VEAFIE.
,. JOHN P. LEVi".
BEACH aud FALMEB Htreets.
J.VAtCHiK MEBK1CB, WILLIAM H. MRHH,,'.
JOBS X. COFE.
OUTHWARK FOUNDRY. FIFTH a ism
B
WASHLNOXOil Streets, ' .
J HILAhBLPHIA.
MEKK1CK & SONS, .
, ENOINEEKS Ai,l) MACHINISTS,
"""iuwHiBh andLow Pressure bteaui ingiues foi
Land, hlver, auu Marine rervlce. '
boilers, Gasometers, Tanks, Iron Boats, eto.
Castings oi all kinus, either Iron or brass.
oi!,"ru h t1a.e Uuot 'cr Oas W orks, Workshops, ana
Railroad btations. etc. .
Ketone and Oas .Machinery, of the latest and most Im
proved coiistiuotlon.
Every description of Plantation Machinery, and Sugar
raw, and Grist AI lib-. Vacuum Pans. Opeutsteaui Traius
Jjelccuiors, Enters, Pumping Engines, etc.
t-uic Agents ior jn. iwneux s rateut nugar ridiling
Apparatus.Nesno'tb's Patent Steam Hammer, and as
pmv, all & Woolsei 's l atent Centrliugal Sugar braining
Alachlne. bU
BUIDE8BTJRG MACHINE W0BKS
OFFICE,
No. 65 K. EKOKT BTRKKT,
-., l-HH.AJJKl.rHIA.
we are prepared to all orders to any extent for our
well-known
11 ACH1NEKT FOB COTTON AND WOOLLEN MILLS
Including ail recent unprovenieuls in Carding, Suiuuiug
and eaving.
We invite.tbe attention. ol manufacturers ourexton
slve viorks.
J h . ALFHED JENK8 fc SON
CONTRACTORS AND MINERS. THE
C01111lllHlilifrK on Ihfi 'I nu' nml ( 1 pin hlii h.til
roud and lloosac 'tunnel, uctlng for the bliite of Mas
Kutliusetm, invite Proiiohiils, until the loth auy of
Wiiicli next, for Kxpuvating suid Tunnel at three
dilleient sections of that work.
This Tunnel, when completed, will be about 4i
miles In length, extending Iroin the town ot Florida,
tliroiiLU. tbe lloo&ui; Muuntuui. tn tlie ti.wii of .Noun
Aiiuiiiu.
i be JMstiTii End bns been penetrated from the
grudeol Ibe Kullruud :n'l leot, i4i) feet ot which con
Mst ol nn opening of about, 10 culdo yurdH to eiu li
lineal loot, the Baiiie to bu eulurged to a section cou
tanilng about 17 cubic yanls to each foot i the remain
ing Uou leet belni! Ijeading now iiieasuring upon au
average 4 cubic yards per running loot to be enlarged
to the lull (section; mukiiig some au.ooo cubic yards to
be removed.
A further heotlon of the work will also be let to the
BiiocenHttil bidder tor the ubove-iiKmed enlargement,
It Mitlsfuclury terms shall be offered.
Ihe ll(.,vi)i i;u1 Is worked from a shaft 318 feet
deep. The easterly heaiiing trom this shaft or abouc
six cubic yurds to each liueul toot extends lino leet,
und Is to be enlarged to a section containing 17 yards
l"'r loot, requiring the removal of 12,ood cubic yards.
Bids lor tbatamoiint, nnd for an extension In either
direction of the heading and enlargement at this
point, will be received.
J be (Wii ai And of an elliptical form. 27 to IS feet,
now 4io leet in depth, is to he sunk to grade, 10.10 fuel
tuna the surface, requiring the removal of about WoO
cubic yards.
All ibe work to be done Is In Talcose Blate, and
will require neither musoiiry nor supports of any
kind. i
Building, machinery, and means of ventilation, all
ot the most siilistnutlal character, have beeu provided,
and will bp lui nisbed to contractors.
Ample sureties will be required from parties who
may be contracted with, anil the Coii.uilssionors re
serve the right to reject all offers that may be made.
Plans and speclllcations may be seen on applica
tion to Al.VAir CHOCK KK. at the Kngltieer's inline,
Iorlh Adams. Massachusetts: and oilier Information
inay tie obtalued from JAMKH M. SHUPE, Boom No.
Hi, o. is Kxchaime street, Boston, to whom nro-
IW.Udlu ..... .... 1 .....
t .u u.ujr UXJ UUWICU,
JAMES M. BntTTE.
ALVaH t HOC K Kit,
CHAKLEH HUDSON,
CommisHloiiers,
2 4 6W
Boston, January 80, 18(17.
TTNITED STATES KEVEVUB BTAMP3.
Central i.n"pia fepot, No. H CH EeJ H VT Street
t-enuslljtput. Ho. 1HSS. El Fill Street oue door below
I,.. D t'beannt. EstaDllahed lasi.
band in . B,nPs ot every description eonstantly on
Yi. Py smount
1 vrccrt by nU ox Express promptly attended to.
aMawntlaal tn
?, . ;Lrti'hiaVt V? t .t" ''d,n the next two years, are
fie.ntv six V.r eA't"'., "ie,.r m"lty Into the live
when the nLa$ 1 may be iald. therefore,
movldSd tot ? tlf-in'1JI,t"r"i Treasury notes are
tho Treasury h,,l T ibf 00 '"nded liabilities of
'b?.li"7 b?T.0?? br -.n easily d out of tho
IN'UIIIUS "
oruiuKir lovruiiB, exenm tha i nit
make It for their true iuterest to aid at the proper i m.
In restoring a sound condition of onrrencv ii,i.i V.r
obstructing it. as their action during the past Jear Tn
largely increasing their loans, baa lnrii...,..i
SHIPPING.
f. o i li - vi x oiioi rinmoiii t
2JUt,L"C IHKECT.
SAii-iwi rnoM each roar kveht eivb i).yh.
FliOM IT N E R It K. FT Wll A RF, 1'IIIia I l'F,L- ,
M1IA, ASI) lONtl WHAKF. lWHI'uV.
The line between fbllsdelphta atnd Boston Is now
competed of tbe
HUM N (new) Captain Baker, 14 tone.
8A1 ON, I uptaln tlatthows. , 12.') tons.
MiRMAN l ao uln Croveil. lKlona.
Three substantial and well-apoolnted steamsblos wl I
sail pnnctnt lly as sdvertlsod. and lrelght will be re
ccvid every day, a steamer oeing always on the berth
to receive cargo. ...
bhippei are requested to send bills of lading with
thcli goods.
For treltdit or passage, bsvlng snpefot accommoda
tions, anp J to liiSHY W1N()HU)
f ' So. 3:. h. HK.LaWAKE Avenue.
r'Ff; NOIITH AMERICAN 8TKAMSII1V
-iBVCOT?,NYL15E TO CAI.TFORV1A.
VIA .ICAkOUA. EVERY TWENTY DATS.
From 1 ler o. ) Aortb River, foot of Warren street,
at noon, with passengers smf freight, at very LOW
KA1E8. Connecting on the Faclllu Ocean with the
flue steamships ... . , .
MOSEH TAYLOR. Captain Blothen, and
AMKRIOA, Captain Wakeman
For further information, apply to the orth Ameri
ca Bt.am.Ulp tPaYiu , WEB. Pre.,dPnt,
o. 64 Exchnngo I'lece. N. Y.
P. N CAKKIMlTON, Agent,
t No. 177 West street comer Warren N V.
THOVlAH R. hKAKI.R.
lie, n Walnut stroet-
EMl'IKE LINE TOK SAVANNAH.
SsWLL-- Rverr MaTURD Y.from i Isr 0. 13 North
biver, puuetuully at 3 o'clock Y. M.
1 he favorite side-whcct Steamships
HAN JAOIN'IO .Loveland commander,
HAN. BALVAUOU. Atkins Oominender.
.Throuph tickets and bills ot lading to an points In
connection with Cential Raiitoad ot Georglu, Atlantic
nd Ouli Railroad, and Florida nteamers.
Elegant passenger accommodations.
UAHK1SON al.LEN.
t No. 8 BOWLING OKBKN, N. V.
II. LEAF, Agent, Adams' Express,
No. Sao (Juosnut street.
,rffYWr STAR LINE FOR NEW ORLEANS,
awal'ii '"'i'' hl New lork Hull 8teamship Company's
hue on no Steamers will leave Pier .No. 4b North ulver
at 3 o'clock I' M., as follows the
MONO REI. on WFDNF.SDAY,
UVANA,on SATURDAY.
MlMSOl'RI.on BAT UR OA i,
MERRIMACK on BATi RDdY.
All bills ot lading signed st the oilice npon the pier.
For freight or passage apply to
C. K. GARRISON. President,
t Ko.tBOWLlliU URhK.V.M.Y,
II. I.EaF, Agent, Adams' Express,
No. 320 cbesuut street.
PACIFIC MAIL STEAMSHIP COM
FANY'B liihOtGU LINE TO CALIFORNIA, 0
CAKUYi.NU t'Ml'KD 81A1ES MAIL,
via Panama railroad.
Steamers leave VlerNo.42 North River, foot of Canal
Street, at li o'clock, roon, as follows i
December 81 new YOKK, Capt. w. G. Karber, con
necting with CON ST ITU'ili'N, Capt. Caverly.
Jsnuary 11 HENRY CHAUNCEY, Capt. A. G.
Gray, connecting wltb GOLDEN AGE. Capt. Lapidgo.
January ill KihlNG fVlAK, Cspt- T- A. Harris, con
nectlng with GOLDEN CITY, Cspt. I T. Watklns.
All departures touch at Acapaico ! those of 1st and
21st connect at Panama wltb steamers for Boutu i'aciilc
ports; 1st and 11th ior Central American porta, and
those of 1st touch at Manzanlilo.
Depatture ot 11th each month connects with the new
Steam line trom rename to Australia and New Zealand.
bteamer of March 11. 1H67, will connect with tae Com
psnv's steamer Colorado, to leave Ban Francisco lor
X ohobama and Bong-Kong on April 3, IBM.
One bundled pounds ot baggage allowed each adult.
Medicines aud attendance iree.
For pasfage. tickets and all further lnlormation, applv
at the ctt-.ce on the wbart, loot of Canal street, North
Blver, New York.
II. LEAF, Agent, A dams' Express,
' No. 32tl Chesnutstreot
.. T Jf. K. BAB1 , Agent.
'f fflti. EMP1KB 8TEAM8HI? LINE, FOR
aSaULUi PROVIDENCE AND BOSTON.
sauiug trom each port every Batuiday, from second
wharl above vinesireet, pbuuoelphia, and Providence
and Boston Railioad W hart, Providence, K. 1. ,
The line is composed oi the first-class steamships
HUNTER, M. L. Rogers commander.
CHASE, J. A. crosaman commander.
These superior and wed enuippec steamships sail
regularly as advertised. Freight will be received dally,
a etesmshlp being always on ihe berth to receive cargj.
Freight tor Boston. Mass.. and ail intermediate
Soints on the Boston and Providence or Worcester
allroads, will be received, and tLe goods delivered in
leas time end at lower rates than bv any other route.
Bills of lading furnished at tbe office.
N o bli is oi lading slvncd alter the ship has sailed.
For further iniormatlon, apply to
, LA1BBURY, WICKEhSilAM ft CO.. Agents,
t No. 12(1 North Wharves.
Henry Cleaveland. Esq., Agent at Providence. K. J.
VlTfllWAT. UTVATU w a trrn a lirnw
Lil COMPANY (Limited).
Meumvrs weekly to Liverpool, calling at Oncenstown
Tbe splendid first class Iron Bteamshlps
LOUISIANA, Captain BarTiugton.
PENNSYLVANIA, Captain Lewis.
ERIN. Captain Cutting
THE QUEEN. Cap lain Grogan.
DENMARK, Captalu Thomson.
An experienced Burgeon on escb ship fieeul charge,
l'rntts issued for any amount, payable at any bank la
Great Brltain-or on the continent.
JiAIKS Or FAS8AGK, PAYABLE IN CURkKNCV.
Cabin. steerage
To Llrernool or Oneenatown Ultiu tiO.
Ibrough passage to Paris. Antwerp. Hamburg, Bre
men, London, etc at low rates aj
Bteerase passage tickets to brtpg persons from Liver
pool or ouei nsiown ior 35 in currency can be obtained
at No il BROADWAY.
For freight or cabin passage, apply at tbe Office of the
Company. No 67 bROADWAY. For steersge tickets,
at the Passage Oilice ot tbe Company, No. 'il BliuAD
WAY, or . THOMAS R, BEARfE,
No. 217 Walnut street.
t F. W. J. HUliST. Manager.
- V- i it r -- fir w r -v-a rK n n
61UH-1AN1C.
i nMke to London. t'M. CtiO. (,10. curroncv.
Psstage trom Loudon, .76, ttM. and ;)0, gold.
A'lALAN 1'A, captain Plukhuiu.
BELLONA, Caiitaiu Dixon.
I F.I. La, Captain Gieadell. .
WILLIAM PENN, Captain Billings.
Tbe accommodations for passengers on these ships are
unsurpassed. Freight will betaken and through bills
oi luoing given to iiavre, Antwerp, Rotterdam, Amster
dam, and Dunkirk.
For passage, applv to CHARLES A. WHITING, No.
26 BROADWAY. For freight, apply at No. IM BOUTtl
Street. .
HOWLAND ASPltfWALL, Agents.
H. LEAF, Agent, Adams' Exnres,
No. 320 Chesnut street.
fvf'r PASSAGE TO AND FROM
fl l..1!. GREAT BRITAIN AND 1IKKIAND1
BY 6TEAMSAIP AND BAILING pACKliT,
AT REDUCED R A 1KB.
DRAFTS AVAILABLE THROUGHOUT ESGLASD,
IRELAND, BCOTLAND, AND WALLS.
For particulars applv to
IaPSCOTT BROTHERS & CO.,
t No. 36 SOUTH Street, aud No. 23 BROADWAY '.
Or to THOS. R. BE A RLE, 217 WALNUT St.
-sffT'f5?, I()R 8T- THOMAS AND BRAZIL.
SiaULUiUNlTED STATES AND BRAZIL MAIL
bifAAblilP COMPANY Regular Mali btoamers,
sailing on the 22d oi every month :
NOltill AMEUIOA, Captain L F. Tlmmerman.
SOUTH AMERICA. Captain E. L. Tlnkeipaiuth.
GUIDING BiAR, Captain George B. slocum.
Ttie-e elegant steamers sail on schedule time. andW
call at Bt lbomas. t'ara rerusmouco. Baiiia, ana mo
de Janeiro, going aud returuiug. For engagement uf
ireight or passage, ajipiv io
(AklilSON ft ALLEN Agents.
llUU
No 6 Bowling Green. New York,
H, LEAF, Agent, Adams' Express,
No. 320 chesnut atreet.
saCI
STKAM TO GLASGOW AND LIVER-
kiF001i. calllns at Londonderry to land Mails
auu i unaeugers -Tbe
favorite passenger steamers of
THE ANCHOR LIKE
8AIL EVERY SATURDAY FRoM PIER 41 NORTH
RIVER.
Hates of passage, payable In rurrencv To Liverpool,
Glasgow and Deiry, Cabins. 9o and .70; steerage Sj(.
rrepaia certificates trom these ports to New York,
35i tiavre, Antwerp, etc.. liO and 37-
For furt-or iiif'onnation, apply at the Company's
offices. FRANCIS MAC DON AID ft CO.. Agents,
t N o. 6 Bowling Green, New Y'ork.
.tfT!,, FOR HOSTON-VIA MEWTORT
LiVJ-AlSl) FALL UIVF.R
Aiie Losion and Newnort Una h, the snlendld and
superior steumeis NEWPORT. MEIROPOLIS, OH)
I OLONY, and EMPIRE STATE, of great stieugth and
speed, constructed expressiv for the navigation ot Long
Inland Bound, running In' connection with the Old
Colony and Newport Kal'road.
Leave Pier No. 2B, North River, foot of Murray
Btieet.
'ihe steamer NEWPORT, Captain Brown, leaves
Monday. Wednesi ay, and Friday, at 4 P. M., landing at
Newport.
The ateamer OLD COLONY. Captain Simmons, leaves
Tuesday, Thursday, and Saturday, at t P. M., landing
at Newpoit.
1 hese steamers are titled up with commodious state
rooms, water tight compartments, and every arrange
ment for tbe security and ooinrort ot passengers who
are atlord ed by this rou e a night's rest on board and on
arrival ai Nnwuort proceed nr raliroud mumIii. reachlmr
Bos toil early on the following morning.
A bsggage msstcr Is attached to each steamer, who
receives snd tickets the baggage, and accompanies the
i same to lis destination
A stesn er mua In connection with this line between
Newport and Provldenue dallv. Sundays excepted
Freight io Boston Is taken st the same ratos as bv nv
other regular Hue, aud forwarded wltb the greatest ex
pedition by an exniess iialu. whloh leaves Newport
every merolpg (Sundays excepted), at 1 o'clock, tor
Boaion aud New Bediord, arriving at it destuuttlua
about 11 A. M " i
I j.-o ireight Psage aoply on board, or at ths Office,
on Pier No J Norm River. For stale rooms and berths I
aopl.V n board, or, it It Is dealrab'e to secure them Iu I
advance, apply U e. li iti.eheld, A-ut, I
. t Do, Ti JiJtOADWAY, Net Yurk. i
SHIPPING.
UT h. 1 M Trf . 1 1 T i. ....... .... . -
. ( i. . nr. .".,. W
KA IK.-. OF PABMAtiB
By the mall steamer sailing everv BatnnUv
Ar. t. Phlm t,oln Pavabls Iu Currencv
Flret Csbln. .1,0 Btrerage ... ati
loLondon.... us loLomlon a
loPsria lift To Fans.... t
Jassage by the Wednesda steamers l-Kirit' eahln
fO. steerage. .I0. Payable in United -ifstesoinenov
l aasinge eaUo lorwarucd to oavre, UauibiTrBT
men, etc.. at moderate latea. ' uu""ffc Bre
lurtber f
m OITHL Mi Haul si
PRICES OF PABBAGE, PA t AllLE IN C.Ot.n
First-class. V 1 ,h "I""" a ioe
f.ower Balooo
Becond-clasa t
a i . AA
ii vipirienccu purgcou onboard.
Hie ompanv will not be r. sponsible for snerle c,
va.usMes unless hills m u,nn.. C. .T.. "necmotl
Pictsed, are signed thereior. am"" m' v,lu
.?. J r.COMBTOCK. Agent'
JAMKS a WfiTTnv u"0-'.Bronwy-New v0ik.
fitr. 0iN,'Y iniECT line to pravpi?
sTV-'1 sTUE GENERAL 'I RaNBATLsNTi inw'
1aaNXMA1L BTEAMBIIIPb " BfTWaviV PJk
YLltK ANP HAVRE, CALLING AT BRBST EW
Tbe snlendld new vessels ot this favorite rn'm r. i -Continent
.a River. U"
ELieA,,a1,it8U,m0nt
PBI LAURENT, bccamll.
,, . ? 'HICEa OF HAHSAGE, IN GOLD.
"'. "i i Second tab.n . l"()- norudlng wino
M!?e1,."er? do not cr" peerage passeigeril
Medical attendance free of charge. "TO,,kBrfc
on tmr!ll'wuh ntnulI,P 'a"" at Brest can be furnished
?Z i.h Illro,r coupon-tickets, anu their baggage
.na1o(rdc.r.Mdltl0Dal 'O
t GEmtOK MACKENZIE, Agfntgo.M Broadway
.f ,!1 FOR NEW TOKK.-PHILADEB
For freight, which win be taken upon accommodatfn.
terms, apply to WILLIAM M. H A I K14C(2, ,
JJ1 Mo. Ul W. DELAWAKJt Avenue.
jf Tt) SHIP CAPTAINS A1MD OWNERS.
iLlxLl Ibe nndendunnd h..in .v
bGtOiN SCREW DOCK, begs to lnforoT hUtilenda
and the naUons of the DocVhat he iarisred with
vessels entrusted to hlin tor repairs "lMU",u Mi
Captains or Agents. Bhlp-Canienters, and Machinist
fcavlng vessels to repsir, a.e solicited to cail.
Havlug the agency for tbe sale ot "Wetterstedt's
Patent Mcta.ic Composition" ior Copper paint, lerfha
preservation of vessels' bottoms, for this cl.y.Tam Vre
pared to lurnlsh the sains on favorable terms 9
JOHN H HAMMITT. '
IIS
r,vT a w i on. "'"aiiision ncrew nock,
DELAWARE Avenue above Laurel street
i',MS.Captal.,Alexauder....JvervHaS
At 12 M , from Pier ItVST North RIvivThrouVa
bills of lading, etc., to all points on tbe heahoVrd K.fi.
i . ,n ? ' V ,taln Bonnie Every Weduesdar.
roao anu it connection
sUelt10' PX C0 AenU, No- MLIW
COAL.
COAL! COAL! COAL!
J. A. WILSON'S
(Successor to W. L. Foulk.)
LEHIGH AMD BCHUVIaKIIaI.
FAMILY COAL YAIlD.
No. 1517 CALL0WHILL St., PhUa.
Attention is called to my HONEY BROOK LEHIQH
snd RE-BROKEN SCHUYLKILL, both superior aud
unfiut passed Coal.
i Coal and Preparations best In the city
925 8m
RB W. PATRICK & CO.,
KO. 304 N. BROAD ST.,
DEALERS IN
LEHIGH AND SCHUYLKILL COAL
HA2LET0N, MAHANOT, EAGLE VEIN, A5D
KE-EE0KEN STOVE,
Always en hand, under cover, and tree from 1)1 KT an1
BLATE. sjSsuiwhtn
ROOFING.
tA.U MltHVliU HOOFS, FIAT OB
STEEP, (JOVERGU WITH GOTTA
PK"CH A. BOO IM.-CI.OTH, and coated wl
LlHUlDtiUTTA PERtHA PAIaT. makioc
them perfectly waver-proof.
LEAKY (illAVKL ROOFS repaired wits
Outta Percha Paint, and warranted for Ave vears.
LEAKY SLATE HOOKS coaled with LlqaU
Gutta Percha Palut, which becomes as hard as sla'e.
For TIN, COPPKU, ZINC, and IKOS
It OOFS this Paint Is the nr ptut ultra of ail other pro
tection It tonus a perfectly Impervious covering, coin-
?letely resists tbe action of tbe weather, and coniii
otes a thorough protection against leaks bv rust of
otherwise. Price ouly trom one to two cents pe la
l0TIN and GRAVCIa ROOFING done at tut
shortest notice. . , , . lW
Material constantly on hand and for sale by to
MAMWOTII HOOFING t OMPAIWY. - .
RJLCKIaKSS &- K V KB P.TT,
1 21 6m ' No. HO GKEEN Btrset '
ju'...r'
Iltm. ii,.,, Uf1'1.!-, V -' 1 .4 "V a '
ahfc,aia.
U H 1st
SHINGLE BOOFS(FLAT OK STEEP) COVERED
WITH JOHN'S ENGLISH B00F1NO CLOTH, .
Ano coated with LIQUID UUTTA P KG H A PAINT,
makhik tbem peiiw.tly water proof, LEAKY OKAVEu
MOCFB-epalred with Gntta Percha Paint andwarrante
lortlvi yeara. LEAKY BLA1E KOOF8 coated with 1 otil
which bocomes as bard as slate. TLV.COPPEB ZINO,
or IKON cosred wlthLiunld (lutta Percha at small ex.
pense. Cost ranging from oue to two cents per square
foot. Old Boaru or Bblngle Moots ten cents per suusrs
foot, all complete. Materials constantly on hand an lliof
sale by the PHILADELPHIA AND PENsybVAlA
KOOFINti COMPANY. GEOKOB HO BART.
112 9m Ko. 0 North FOUKTJB wreer
JNDIA RUBBER GOODS
WHOLESALE AND RETAIL,
. OF ALL KINDS,
FOR FAMILY, DRUGGISTS', 8TATI0I?EBS', 03
MANUFACTURERS' USE,
Can be obtained direct it the
i
MANUFACTORY AGENCY, ,
No. 708 CHESNUT Street:
Customers will nnd It to their advantage to d
here. . 1M- '
HARD RUBBER ARTIFICIAL
IJMHH. Anus, Legs, Appliances lor
ir etc eto. Tbsee Lliuhsare
transterred irom Ibe lu lorin and fit:
are Uie lightest, moat durable, comfort
able, perieot, and artisuo aubailiutos
Jet Invented Ibev are approved and
adopted hr tlie Uulted States Cloveru-
lentandourprhioipalBargeons. faienisu aus"
tM fca, J, ft, May 1, it-. f4TX CO.,
' ' ' N. 63 AKCD Blrect, I hUadill'lila.
ramphjets free. v.u
in in man Lit ih.i.i...
5,ilv,'Co1!r,.'"'f lhe tnitod states Mails. ,
.KANtl VltAo' ..Katurrtav Febraaiv
.... 1 1 v iV. h a I l"i WrULV Ve(iueday, F, l.ruarr 1 5
"CI I O B ALT lMORb.' Saturday. Ffliriiora It
"CITY OF WAHl.lNl1r.N',V...S,rt.,r.layy.' Feb(u"J
and each sneceeillng satiirdnv and W ednesday, at noon
I rom I'M No. 4ft North rivet. v.-iuoon,
-f rfr .J!J5KAT DEDUCTION' IN I'RICE OP
.jJJII PASSAGE TO MJROPE by the on y
c..u ..ine to England and Fiance. -The New V ork
Havre Btesmsolo Company's Ural oIssm mall sm.S.nd
.Aid.vW days thereafter. ' 1
fa