THE DAILV jiVISNlKG TELEGRAPH PHILADELPHIA, MONDAY. ' DECEMBER 2, 1807. 1 PUBLISHED EVERT AFTERNOON, (RUHDAYS IIOKM-KD) 'A.X THB KVKNINO TELKORAPH BTJILDIN3, DO, 10S SOUTH THIRD HTBEET. Trio, Threw Centa par Copy (Douiile Bheet), or Ugh Ml) Genu p r Week, payable to the Carrier, ana tailed to Bubecrtbere out of me city at Nine Dollars r Annum; One Dollar ami F.fty CVnia fur Two Ocths, Invariably Id advance for the period ordered, MONDAY, DECEMBER 2, 18G7. "fce Finances as Considered tr Hobert J. Walker. W regret tliat the extreme length of the letter f Hon. Rohert J. Walker and the crowded CondiUon of our columns prevent us plaoinjj that able dcoument in full before our readers. Yhatever Mr. Walker says on the subjeot of Our flnanotal oonditlon Is entitled to a respeot f al attention. Throughout the entire war he tras abroad as the agent of the United States Government for the purpose of negotiating our loans In the European markets, and from direot Contact with a great part of the subscribers, Is ftble to bear witness to thrir feelings and ex flotations at the time they gare their money to our country. We will, therefore, do the next best thing to publishing his letter tn full, find endeavor to give a synopsis of his views C-n the various financial questions whioh are to-day agitating the country. At the outbreak Of the war he was sent abroad, with letters from Secretary Chase and President Lincoln for the purpose of acting as the United Btates agent in Europe and Great Britain. While there he published numerous essays, which Jvere not contradicted by the United States, in Fhloh he "represented (he certainly of the pay tent of the principal and interest on the Five- twenty loan in gold." When he arrived abroad found that the Governments of France and ' Ingland were so opposed to our nation as to lender the negotiation of our loans in those Countries almost impossible, so he appealed to the people of Germany, and, as he states, 'the result was that the people of Germany, tomphatioally the great mass of the people, took several hundred millions at the same rate S our own citizens." At that time the Gov ernment was in great danger; confidence was felt neither at home nor abroad. Mr Walker says the disoount at which they were Yeoeived was warranted by the exigencies and the risk the purchasers ran, and adds: f These German and other loans, based upon these United States Five-twenties, constituted to a vast extent, the price we agreed to pay to enable us to maintain the Government and preserve the Union. And, now, shall we tiesitate about the full payment of suoh loans &S these T But especially can I, on whose Representations so many hundred millions of these loans were taken, now, whilst the great Issues are being discussed, and soon to be decided, without a burning sense of shame find dishonor, remain longer silent ?" I Mr. Walker is emphatically in favor of a payment In gold, and certainly has justice on iiis fide as well as great ability. But he con siders that question one which may be settled In the future. What at present needs atten tion is a resumption of speoie payments. To do this he considers a loan of $250,000,000 in gold to be necessary. There are now $387, 000,000 of legal-tendbrs issued. There is in the Treasury $111,000,000 in gold and $23,000,000 Of legal-tenders. By contracting a new loan Of $250,000,000, all the outstanding legal-ten-lers oould be absorbed and specie payments Resumed, without risking the danger of a ludden running up of the premium on gold. JT seoure this new loan he favors a resort to foreign markets. He says: "Why should our people be thus oppressed fend raoked aud tortured by a loreert contrac tion of the currency, whloli Is tue Uftf-blouU of Dur industry ? Wny this constant drainage of StU the veins and aritriee of our Industrial . pyetemt "1, then, am for a foreign loan, so as at once to fcupply the vacuum, to replenish our ex baueled resources, and resume apecle pay ments, with all lis incalculable benefits to our faith, our credit, and our industry. "What real objection is there to a foreign loan Did Wasiiingion and the patriots oi '7o Object lo it when Franklin negotiated our first foreign loan in Holland T Did not Mr. Lluooln, concurring with Mr. Chatte, wnrmly advooate it, when weoDtalneil the neoobsary ruo ney to replenish an exhausted treasury during the Jate Rebellion ? "It la certain, on resumption, that this whole loan would be taken by the m uses of the people of Germany at par, or higher in gala for six per cent, tonus. We borrowed 82.W OOO.OOU from the Oer xoans In 1803-4 local ry on tue war then. Aud I would open the new foreign loan at Hamburg, JSerlin, and Frankfort, aloed by Count Bisuaark, tao la aa gieat a friend of Amerloau as be is of Uertnaa unity." In this paragraph is found the kernel of the entire letter. It Is a long argument for the resumption of specie payments by the immedi ate negotiation of a foreign loan. He speaks with certainty of Us success, and there are fcwwho are so well qualified by experience nd theoretioal knowledge to express an piuion. By this means he thinks we could ivold the threatened difficulties of the ultimate payment of the debt, and forever drive out Jhe spirit of repudiation. The proposition is a Vast one, and merits careful consideration. Mr. Walker Is opposed to the present pay jaentto any considerable extent of the natlona1 debt, and wisely argues that the loneer it j-emains unpaid the greater will be the assets On hand to pay It when due. By Azures he hows that our rate of Inorease of wealth from 1850 to 1860 was 37 per cent., and gives us the following table of increase until l'JOO, at the tame rate: IfUV) - tlfl 1VVG1B OfW 1870 .M3 -liO 5S-, ri-tll K2 HIIVKlW K4 JH'KI 1H7,H1.8V).2?5 1910 u 1U01 4oj,6(i3,2,ll Thus, our wealth in thirty-three years Would be more than quadruple that of Eug land. f Of course, at Buch a period the payment of the debt would be but a trifle when compared With the drain it would cause on us to-day. He glances for a moment at the Butler Pendleton proposition to pay off the debt in greenbacks, and concludes that suoh a cur f euoy would not be worth at the start twenty cents on the dollar in gold. The first result would be to increase the expenses of the Gov ernment and of living nearly fourfold, with no correpponding increase of wages or of revenue. The expenses of the Government, paid in this depreciated pfper, would swell to nearly two lillions a year, and the excess of our annual expenditures over reoolpta would exoeed a 1 llliou of dollars a year, swelling yearly, vith the necessary demand for a further infla tion, until the whole mass would become worthless, and leaVe the Government and peo- jle without money or credit. Tbe whole substanoe of Mr. Walker's theory is contained in a few words: "For all these ends there is but one remedy, an immediate resumption of specie payments, accompanied by a vast reduction of taxation." By resuming speoie rayments we reduce the annual expenses of the Government over thirty per cent, per annum. He favors the repeal of taxes and f xcipe?, and the abolition to a great extent of our internal revenue system. By this means, he observes, we would at once get rid of eight millions a year in the shape of tax gatherers' salaries. He believes that a total revenue of 244 millions is all that is necessary, and this he proposes to raise by taxes on but three ai tides: 1. Ttv a tariff for revanne. 'J By an excise on wlnea, malt and spirituous liquor, and tobacco; aooiisuing ait outer iu Ii-iiaI tAlAtlon. 8. Bv a tax on onr national bnnka, based upon Just aud fair equivalents, remembering bow essential they are to tbe piosperlty of the country, and that we must not drive them into llau.dHiiou bv unfair and unequal taxation. aud thus revive the wretched Htate bank. t-yittm. This is perfectly feasible, as we demonstrated a few days since in an article in favor of throw ing off all tax on a man's income exoept the excess over necessary expenses. By this triple tax all necessary revenue could be se cured. The subjeot should receive immediate attention. In the tax on the National Banks, however, Mr. Walker "would impose but ono additional tax upon them. It would be, that, while permitting them all to loan money at one ULiform rate of 7 per cent, per annum, as ought to have been done originally, they should pay over annually to the Government one-half the net profits realized during the year over 7 per cent." Mr. Walker is a strong advocate of the sys tem of national banks, and deems them of great advantage to the country. He considers all attempts to call lu their notes as dangerous and injurious, and calls attention to the fact that "their isssues are not fictitious, but repre sent so much capital in the bonds of the United States." We cannot follow the able arguments and every fact adduced to a greater length, but would commend the views of the distin guished author, both because of their ability and also because of the sound, praotical com mon sense which pervades most of his letters. All his opinions appear to be practicable, if we except, with a doubt, the foreign loan of $250,000,000 in gold. The Mercantile Library. Thb old maxim that "Knowledge is Power" has become threadbare from Its frequent quo tation. Yet it reveals the great element of our national strength. To the savans of Ger many and Fiance we must yield the palm for thorough and deep culture in special branches of human wisdom, but as a people the inhabi tants of the Great Republio enjoy a wider and more general diffusion of knowledge " than those of any other land. And this has re sulted, not bo much from our system of publio schools and higher educational institutions, as from our universal passion for newspapers and books. By an incessant devouring of everything that comes in our way, whether good or bad, we have gained the bulk of our knowledge, and with it a more thorough ap preciation of the blessings of our free institu tions, and a more deeply seated disposition to maintain them in their integrity, than oould have Veen imparted to us in the mere routine of the school-room. One of the most prominent agencies in bringing books within the reach of the people of every class has been the system of circu lating libraries,'. which has now obtained a foot hold in every city and town of pretension in the country. One of the most successful an 1 deserving of these institutions is that known as the Mercantile Library Company of Phila delphia. Although of comparatively recent origin, it has already attained a standing with the largest in the country, and with the facili ties which its proposed removal will afford, it will not be long before it will plaoe Itself far in advance of all its rivals. It was established in the year 1821, the names of the most promt nent residents of the city of that day being embraced in the lint of its founders. After a determined struggle for existence, it attained a measure of the success which it so richly merited at the hands of the publio, and in 1845 it took pos session of the handsome edifice which it still occupies, at the corner of Fifth and Library streets. At that date the city whose literary wants it supplied had a population of about 325,000, while at present our permanent real dents are estimated at 800,000. The member Bhip of the Company was then 1004; now it is C167. The library then contained 10, 2i 9 vol nmes; and at present it has upon its shelves about 40,000 volumes. The number of books loaned in 1845 was 14,798; while last year the circulation reached the enormous total of 111,003 volumes. A raere glance at these figures will convince any of or readers of the fact that increase! accommodations are needed, and every fre quenter of the unoomfortably crowded rooms knows how imperative is the necessity. The managers of the Institution, ever attentive to tue wants of the publio, and relying upon their generosity and enlightenment for sup port, have already met the rannirements of tbe case, and they now confident! aDnal to the community for assistance in perfecting and carrying out their scheme. They have pur chased, in behalf of the Association, the uani- some edifice on Tenth utreet, near Chesnnt, known as tbe Franklin Market House, whloh ' has a superficial area of 24,089 feet, i aa compared with the 8000 feet of the two floors in use in the present biiiMinjr. The new building may by some be deemed altogether too large for the necessities of the Library; but it should be remembered that iu 1845 but one floor of the old building was in use, so that the proportion between the accommodations of that period and those pro posed is as one to six precisely the same re lation as is borne by the membership at the two periods. The new building is to oost $120,000, of whloh $76,000 is to be paid in cash, the remaining $50,000 to encumber the premises as a ground-rent. The sum of $7 G, 000 will, however, be required to alapt the new building to the wants of the Com pany, making a total cash expense of $152,000. To meet this, the ' Company has $103,000 In its Treasury, after dis posing of the old buildiugs, so that $49,000 are required for immediate use, and a round $100,000 to plaoe the institution on a safe basis, clear of all inouwbranoes. At a reoent meeting of the friends of the Institution, his Honor Mayor MoMiuhael, who presided, appointed a committee of our most prominent citizens to supervise the oolleotion of the re quired fund. We trust that they will not appeal in vain to a publio which has ever shown a readiness to engage in all good works. Whicu is the Metropolis? Wb have frequently olaimed that Philadelphia is the meat populous oity on the American continent, and in the result of the registry of votes whloh was oompleted In New York olty on Saturday, we have an incontestable proof of the truthfulness of our assertion. At the November election in the oity which can no longer lay claim to the title of metropolis, every nerve wai strained to seoure the largest vote possible by both parties, as the result in the State depended altogether upon that in the oity. But the Mayoralty contest whioh terminates with the election to-morrow, has been conducted with even greater 8eai, as there are three candidates in the field, and the friends of each are not without hope of suo cess. The following figures give the oompara tive reault in the two rival cities, the total population being based upon the customary estimate of six residents to every qualified voter : J'hl tuMnhia. 2ftu Ytrk. Total registry I4.27i J35.r Total vole at recent elecilon.lOl.OiiS II l.M2 I'opulalion 8tl5,182 813,594 New York, as will be seen, cast a heavier vote, in proportion to the registry, than did Philadelphia; but it should be remembered that the Republican vote in this oity was not drawn out, by reason of wide-spread dlssatis faction with a majority of the candidates; while in New York if we may believe the leaders of the rival Demooratio factions, thousands of roughs were imported from this oity and IUltl more, for the express purpose of rolling up a majority whioh should "terrify" the oouutry, Moreover, it is a notorious fact th t thousands of names are registered every year in New York, in direct violation and defiance of the law, and these may be put aside to offset the large foreign population who are not entitled to the eleotive franchise. Although the figures given above are probably somewhat In excess of the real population of both cities, the pro portion is as near correot as may be, and there is not the shadow of a doubt but that Phila delphia is the metropolis of the New World in point of population, as it likewise is with respect to manufacturing interests. TUE FAS II IONS . Playing a. "Forfeits" and a Witt? Re ply A Popular Preacher on Styles of Ureas Court Costumes In KniUod-Kx-Hoyal Kobas Nsvr Mnterlala-Tba Indian Necklace An Austrian Color, Bands, and oaab.es. Paris. Nov. 15. At a vcrv aristocratic reunion lately it was a gentleman's turn to answer some ol thoee inquisitorial questions which are put in an usmc-nuoie camcs now-ana are considered amusing. 11c baa to redeem h lontit. Tue brst quisilon asked him was, "Which color do you preter?" "All fasit colors." was the witty reply. The next was. "which Is your favorite author?" Ob, the author of my days, or coars," he answered readily; but tbe third nearly brought him to Mhzhs, lor the ques tioner Inquired, "WUa1. is the object ot your ambition?" "To be or not to be," nwereu the sulleror, iu great d litres; and in fear eta second forieit. "To be or not to bo weal?" pursued me tormentor. "A Ziouave a rouuucal zouave," lcpned tbe victim. Murmur ot disapprobation welcomed this con region, an J b ii not peals ot laughter drowned them a snug little eauie at iorio.ta would have ended in an otticial ariesta uon. Another very unlortuuac expre-tuiuu is that now commented on in high Quarters aud by all the papers. It reters to the Cuassepot puus. In Geteral de Pitill.y's ouicial accjuut ol the engagHiueut at Montana he says, lu spenk' lug ot the slain: "The Cbassepot gui.it have doue wonders." Wbee tbe paper was put bi-lore the Minister of the Inferior, be suggested that the phrase would be better It alter e J be I ore it was placed before tbe public in the MonUeur, Tbe following morning the JUonneur ap neaped, and every Parisian was scmiiHliz-d at the barbarous exul.viou of the military over tbe murderous Unas epots. i he Emperor him self was struck at the inappnpnate uess of the expre sion, and sent lor the maunging directors ot the Alomlmr, who explained that "thunder iu had been substituted by them for the "oiidere." When the Minister of tho War De. partnient was called to account, tbe answer whs that military discipline did not adorn of the slightest modiUraUon in a document signed by a command. ug ollicer. Ihus H is that M. de Faillv's wonderful CbassepoU have become fashionable table talk. It Is very peaceful, although Air. uuatsepot is at iyons superintend ing tie manufuc.ureotno less than 100,000 more ot his euiic. The other subjects of interest are that Kather uyscintne. woo so rated against laaies' doming lust Lent, is goiDg to preach all throaeh Advent at Notre Dame. lr the degeneracy of the fashions was a subject of his ire last eeasoo, what must happen to him now? I will keep your readers au oourani, lor where tbe fashions are preacucu it is my amy to alteud. There was a great crush of splendid attire at Windsor on tue 10 h, where the twenty-sixth birthday of the Prinoe ot Wales was celebrated. Home ot the evening dresses sent from Pans were very tasteful, and are called simple because nut trimoed withauythiug but artificial flowers; bm the flowers wero in sum prolusion that im rlie.it is bot oreciself the proper exnr sslon, They were ht lo drees Ot different shades, wi'h cordons of flowers irom the waist don: the tides and bnrr looped up in front with bouquets; and all the boiices were cut low and square. White tulle over white satin bad cluster of white IIIhc. Pink tulle over pink silV had oor- COi ol Link bnd : ono while rouleaux of black aod white satin; timorm. mentt were gold. joiriat u e sovorelzni hse ll onnn -. a rei respective glnnce at what has been worn t rove rather niortiiyln to hurbands. Hrm i the 'rewi are to be perpe'nnted bv hWtor. f.,r Iiif mice, tho robe worn by the Duchesne de Mourhy at the banquet vWpni to the Kmperor o Ai.f-tr a at tbe Uoiei no Vine. It was white tad ce: it-e smin covered wi:n an Alenron, a tnuic wlirli wtiit i t! into a court tram behind an I lorp d In he fn nt wlih sc icia blossom in gold. Tl.e body a Pemnrt wsi covered with tuili orked with gold, and aolden acacia an I rllamonrW entvtired In her ha r. On the bodice i here were square an Hps nnd ovals of diamonds afteuibg ire tulle drapery folds nu the bosom. inu toilet Das been lis Hi u 3D talked ol as the Empre-s Fugenie's. which 1 have in a preyio'is let er cliseribed, with tbe exception ol her nck- lare, which was compo ed ol ovc row or dia monds, each baviig a iringe of rubies and diemonds. Ibe klarquise de Gallret at one oft he grand revteas wore a dress which will never be for go ten. It aas a garnet satin, trimmed with camel clusters or grapes ai a enmrviucrej vine leiye'. Her ranaque to match was t ehl at th alst under a belt ol earuet and leaves, from wh eh hung a deep frinre of cut garnet beals. Th n tnere was a princes at Me rao wbrte bite cloth toilet ru irked all over wi'h t-ilk (the yellow shades). Is now being imitated at Com pircne. Sportsmen complain that ill this white spoils their t-hooting; b t 8 ill those who cannot uv st in watte cioiq aecomri sb tbor wb'm In white merito, and Ibeir effect on tho gam'is precisely tue came, but the gentlemen complain le-. Tbe great mania is the Indian necklace of thirty rows, and the new stjle of Jewelry which is not r-otloh or beonmine. Now. ladie. mil wear lanov jewels that are not imitation, but pretty, and to a cerlain degree inexpenive; thus flHrte Tines with tutquiinos and pink enamel miniature surrounded with pearls. The Mettemicn green is a-much m vogue s tbe Bismaik brown; but nasturtium, or capj- cine. is tbe great gun. The odalisque nnnd and sash are made ot plaited ma'ciial round the waist, and the s-t-h ends are ornamented nitninnge. They are worn on tht left t.iie tn fiont. The itiohes-e It K which, passed through rings.hiDgs down behind. N. Y. tier aid. SPECIAL NOTICES. IJhr atUUUonal Special Notiett tee the Second Page. fSTr AS THB TWINKL1NU STARS OO rnt one hy one In III ko.tlen I'litrn of Hie mn n. so the once popular prrrumes or tbe American market la ImiIhii lulo obllvtnn hwoie the superior r'almx t Pbalun's -TS Ight-Hlnoniins C'errun" tn standard Pennine of the Western HeiuUphure. Hun- ri i.fol jjvmwiai. it jrT- A CONCERT OK THB SECOND BIOTIUT rlIITBIT tl TT NJ II V Uf-tmrkT of Qermantuwn, will be given at tha TOWN HALL, On 1UKSDAY KVJSKINU, December 3, 1SG7. TICKETS 2S CENTS. Proresaer K. m. rorier, ineuuua fianmt, will pre side at tbe Piano. 12t2i THE GREAT REMEDY.- THE O RS AT REMEDY THK QKKA r KKMUDT IHKi UHKAT KKMKUY THK (IHKAT RK.MKDV THB GKKAT REMhDY For the Cure of OnuitbH Colds. ConuniDtlon. Asthma, llruiitbltla. Spilling of Blood, lloa..eiies or lohH or Voire. Niglit fcweats, Hoi Tbro-l, Pali In IbeHrieand Breutit, Wbooiiliig Cough, Palnliailou or JjiHeaxe ot Hie Heart, ana all lompiniuts ot a Puimq- tary mature. , ., O V V I A. WJ Zt WWAYNK'H HWAYNB'tJ BWAYNMS SWAYMS'i BWAYNK'tl BWA N K'S BWATNEM COMTOUN D BY HUP OP COMPOUND SVRDP OP COMPOUND hY HOP OP COMPOUND HYKUP OP COMPOUND HYUUP OP COMPOUND BY UUP OP COMPOUND HYKUP Otf COMPOUND 8Y ItU P Or WILD CH KRHY. VI LI) OHEKItY. WILD t HKKRY. WILD CHKHHY, WILD CHEKRY. WILD CHNKKY. WILD CHKHHY. WILD CHERRY. Prepared ontv hv 1K MWA YNEA SON. No. ajulsoitLfel JiTlt Htiet. ibiivn Vine. PhtladeU jjiiiu. g iwwf (TRENCH DRIE CHEESE. I.OVER OF FINE ISPOBTED CHEESE ARKIKTIT1DTO CALL IT HROtDAND WALKl'TiAB FI M It Til KBE THE Vl'St.HT VARIETY AND QUALITY Of C'HKESB IN THE CITY. WE AUK IN KKi KIPT Or TIKV CHOICE HKIE C1IEKME, CV BIOIHLY HIT CP IN F At A IN BASK El N, AND OF VEBa BICH FA.AVOB- AINO, HOQlIKFOIir, STILTON, CH ED lAE.EDAHI,PINEAPPLE,lnllATnNOr JO I IIMB OI.OUCE9TKH, AND BICH t BEAM ( I1EISE. NEDrrilAlELAnD t'AHEWllEBT WILL nKUECF.IV ED IN A FEW DAI'S. SIMON C0LT0N & CLAKKE, I, W. COB, BBOAD 10 22 Ana nAbaui aia,. PHILADELPHIA. QENTS' FUBX.iSniKQ GOODS. JOHN C. ARRISON, MOW 1 AND B N. II MTBEET, F1I1LA. Would luvltw tbe attention of gemleiueu to hla ex tensive assortment of l-'UUNISHINQ GOODS. Coii-lBtlDR of Bilk Sblria and Drawer Canwrlght A Warner'. Merino Bhlrta and Drawer. Lambt' wool ' " Buckskin " Cotton ' " EiiKlleb Bwanadowu Canton Flannel, made to J A.'t express order, tor Bblrls and Drawers, Also, Gentlemen's Wrappers, Hosiery, Olov, Blocks. Ties, eta etc 1 22rp gPECIAL NOTICE. UALtNCE OF IIHPOBTED FRENCH PUB- MTIBE, SUITABLE FOB HOLIDAY PBEMENTS, Closing out at Iteduced Prices, at MR I. LPTZ'S FUKNITORHS 8TORE, 11 8d lit No. in Boutb ELEVENTH Blreet. HOLESALE TJ XJ C I i O L O V E t M AN U FACT VBEBU, MoNKKliY & O O., 11 fO wsmlmrpl NO. 6i N. FOVBTIl WTBEKT. WH1TTEM AND VERBAL DKSORlP- llons ol Character, wltb advice on Btiaiuens, Ilballli, JuiuG4.uuu,ew).,ivi'D nany n; tswsmep at No. TO CUtoNUi' (street, c OMPLIMENT8 OP THE H E A H O N. HOLIDAY PRESENTS OF VERY Oil 12 AT VALUK FOB VERY LITTLE MONEY, EDWIN HALL & CO., NO. 23 SOUTH SECOND STREET. Have an ei tensive assortment of nw an1 els. cant GOODS. 8ILK9, 8HAWL1, VBtjVEPS. CXOXHlNOand DKE-J UOOLM, wh!oi wll1 he offered at a still further reduction, thus affording lo all an opportuul y to puroiiae ut-eful and elegant presents for the lloll J iys, at feuoh prices as cannot fall to give satisfaction. SPLINDID OT10MA.N SILKS At $2 50, Reduced from $5. MOIRE ANTIQUES At $350, Muccd from $5. SILK CORDED POPLINS At $150, Reduced from $2 25, Haiii French Silk Poplins Al $125, Reduced from $1"73. All-wool French Poplins 80 Cents. at French All-wool Poplins at 87 Cents. Tbe above are all New and Fash Ion able Goods, '( holce Bhadea, aud well worthy tbe attention of tbe publio. TT1TI7T W TTAT.T. At m 12tmwflm4p " v" 1807. "CHRISTMAS." 1887. The increased demand made upon V8 last Clirhtmas for Fine Holiday Goods, has led u$ to give a special at tention to their production this season, and we nmo have the pleasure of offer ing the finest stock we have ever had. With a view to enable purchasers to supply themselves al all times during the ensuing season, we have instructed our Paris House to send us, as they may be finished from time to time, the most elegant selections from the various European Manufactories, and we zvill therefore be able to present a constant succession of novelties during the en tire month of December. BAILEY & CO., No. sio ciiebnut btiikigt, lOSwfm PHILADILPHI A TTOR TUE INFORMATION OF HOLDERS OF GOVERNMENT BEOUBlTIEa, who may wish to convert tbem Into the FIRST MORTGAGE BONDS OF THB Onion Pacific Itailroad Co., We publish below the terms npon which ihey may now be exchanged at tbe omce of the Agents of the Company In this city, WH. PAINT tit ACO., HO. 86 HITH Til I HI) STHKKT, We would to-day give these bonds and pay a dlfle- ret.ee of rafl'83 taking Tn exchange U. 8. 6'a of 188L flMU do. do. S-20's of 182. 127 SS do. do. 20's of 1804. . IS7 68 da do. 6-tc's of 188t, May A Nov, 1S1S3 do. do. e-jo's of '64, Jan. fc July, fibl'SS do. do, 6-zii's of '67. do. tua-83 do. do. t V ceot. 10 iis. do. SIMMS do, do. Ts-10Cy. Juuelstue. I1&31S do. do. 7 s-io Cy. July Issue. (For every thousand dollars.) We offer these bonds to tbe publio, with every con fide 1 1 e In their security. Philadelphia, Nov. 21, 1867. 12 2 tp C'ti w a N I CUTS IN SCOTLAND." 1 WTSrCAL FUND IT ALL. MUHIUAL KUNIIHAM.. FRIDAY AM bATUKIY. DeO.ana7, MR. KHNNKUV. MK. KkNNKiiY, The oelrbratad Hcoi.l.h V.."ils. v? n' POPULAR I'M KttlAINalEJIA RONOs'o ! " "oTL A N J. Piano Forte KENNEDY lxmr nnen al T. Commence at S o'oltck. IKwmopfS nerved seain. cents. Itokaufti'iare atTruiupler'i Muslo Btore. No. 034 Cneuut street. se ww 525 m: E B op ns UKION.' PACIFIC" -.RAILROAD Running West from Oraahi 4Lcro tho Oontlnont, ARE NOW COMPLETED. This brings the line to the eaatern base of the Rooky ilounlalus. and It la expected tnetthetraok will be 'aid thirty nvltte further, lo Kvans Pass, lbs lils best point oa the rood, by January. The mail, mnm rade from tha toot of tbe movutalas te the summit la but eighty foel to tha mile, while that ef many East era rna'ts Is over one hundred. Work In the rock-cottlng! oa the western slope will continue through tbe winter, and. there Is bow ne reason to doubt thai the entire grand line to the Pa clflo will be open for business la 1S70. Tbe means provided for the construction of this Orrat Na.lonat Work ar. ample. Tbe United Statee gran is Its Blx Per Cent. Bonds at tbe rate of Irons i,00iPto(!,lX'0pr mile, for whloh It takes asaeaiMl (rnas.ecurlty, and recelvea payment to a large If no to the lull extent of Its claim In strvlces. These Bonds are Issued as each twenty-mile section la Al iened, and after it has been examined by United, BtsUe Commissioners and pronounced to be In all re spects a first-class road, thoroughly supplied with, depots, repalr-abops.slatlojs, and all the necessary rolling stock, and other equipments. . Tbe Uotted B tales also makes a donation of 1ZSM, acres er land to the mile, whloh will be a son roe of large revenue to tbe Company. Muoh of this laid In tbe Plane Valley is among the most fertile la the world, and other larg portions are covered with heavy pine forests aud abound in ooal of the best qufllty. Tbe Company Is also authorised to lisueltaowa First JJorlKBge Bouds to an amount equal to the istoe of tbeUovernm. nt, and no more. Uon. K. O. Morgan and Hon. Oaket Ames are Trustees ler the Bondholders, and deliver the Bonds to the Company only as tbe work progresses, se tbat tbey always re present an actual and productive value, Tbe authorised capital ot the Company IsONK HUNDRED WILLI N LOLLAtM, of wbloh over live millions have been paid In npon the work already done. Earnings of the Company. At rreeent, tbe pro Its of the Company are derived only from Its local tralhc, but this Is already majh more thin sufficient tj pay tbe interest on all the Bonds the Company can Issue, If not another mile were built, ft is not donbted that when the road la completed the through tralllo of the only lias o. nectiogthe Atlantic and Paolflo States will be 'large beyond precedent, aql, as there wl l be no competi tion, H can always be done at profitable rates. It will be noticed tbat the Union Paclflo Rallioad Is. In tact, a OovrnmeU Work, built under ths super vision of Government ofllo-TS, and to a large extent with U iverihtent money, and that Its bonds are Issued under Government dlieolton. It la believed tbat no similar security Is so carefully guarded, and oeitalrlyno other is based npon a larger or more valuable property. As the Company's First MortQaete Bonds Are off. red for tbe present are NINE IT CENTS ON THE DOLLAR, tbey are tbe dbrapest security ,1a the market, being more than IS per cent, lower than United States Blocks. They pay SIX PER CENT. IN GOLD, Or over NINE PER CENT, upon the Investment. Bub' crlptlons will be received In Philadelphia by DKI1AVKN A B4OTUEjt.No.40B. Tblrd street, WlLLiAat PAINTER Jt CO, 1NO. SS 8. Third sU J. K. LEWAtm & CO., IN o, 2 B. Third street. THE TRADESMEN'S NATIONAL BANK. In 'W llmlogton, Delaware, by R. R. ROBINSON A CO. JOHN McLEAR & BON. And In New York at the Company's Office, No. 24 NASSAU Street, and by . CONTINENTAL NATIONAL BANE, 7 Nassau St. CLARK, DODQK dt CO., Bankers. No. Si Wallst. JOHN J. ClbCO & BON, Bankers, No. S3 Wall sU, And by tbe Company's advertised Agents throughout tbe United Statee. Remittances should be made In dra.ls or other funds par In New York, and the bonda v. Ill be rent free of charge by return express. A NEW PAMPHLET AND MAP, showlaz the progress of the work, and reeources for construction, aud valne of Bonds, may be obtained at tbe Com pany's Cfllces, cr ol Its Advertised Agents, er will be sent i ree on application. JOHN J. CISCO, TBEASfJBER, NEW7 YORK. November 23. 18OT. U2Smwl8t & C. A. WRIGHT, No. G24 CIIESNUT Street, HATE JUST DECEIVED A LARGE AS KOUT31ENT F NUV AND ELEGANT FANCY ARTICLES, Selected In Europe this season for their NOVELTY AND BEAUTY, ESPECIALLY FOB CHRISTMAS PRESENTS. AImii, a large and beautiful assoitmeut ol genuine MEERSCHAUM PIPES, Wliluh tbey offer for sale 1127 wfml2t AT VFJtT REDUCED PBICEsl. FOUKTK ANNUAL SALE OF TDK AKTISTS' Ft1D SOCIETY, WILL TAKE PLACE AT THEIR GALLERIES, NO. 1334 CIlEMNin WTKEET, ON TUESDAY EVENING, DEC. S, 1S7, AT 7 O'CLOCK. X X B1BITION NOW OPEN. 11 80 8 1 rOINT BREEZE PARK. TUESDAY Afternoon, December t. 1867. If He Heats, a In S, to Boad Wagons. Good day and tiack. Three best road hersos In tbe city. Horses to start at ( o'clock P. M. 3 M. Ham 111 names b. h. MAY DOT, Owuer uemes b. in. (lAZKLLK. Owner n.ims b. li. hi K 1 II M'RK. 1 be prlvilegn of a member Introducing a male friend without ay Is suspended. OmnibiiHes will sisrl tor tbe Park from Library street at j o'cio. k P. M 11 J0 2t TV- FOB BALK A PA I It OF" ItBAUTI. T3V I"! I Mbv HBinlileionlHil HUltMKH, IS I hands l.ihu, mill sound In every psrilcular. Prompt drivers, and Ic l lend nf liK-oinullvort. luuulro At zt H L1WU1 H.HJSTii bUoel. 11 U lt
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