T H A. o VOL. VJlI-No 155. PHILADELPHIA, TUESDAY, DECEMBER 31, 18G7. DOUBLE SIIEET THREE CENTS. r FIRST EDITION FROM EIROPE BY STEAMER. ADVICES BY THE DEUTSCHLAND. Republican Koforni In Switzerland An TJnfortunate Letter by Napoleon III Progress of tho Fenian Excitement Examination of the Alleged Clerk cnwcll Conspirators. Affairs In Germany and Italy. Mf Kte KU Kts.s Kts., Kts. New York, Dec. 31. The German mall steamer Deulschland, from Bremen on the 15ih and Southampton on the 17ih Inst., arrived at tbls port yesterday. Miscellaneous Ntm. A telegram from Maikatto, or December 1, a b: Colonel Merewetuer, with the advanced Dilgaae, is moving ou rseuaie. iuu luunoitanis of Ukulcli aad Kuzelh have tendered their services. Tbe troops are In good bealtb. The Aboona Is dead. A lelearatn irom &.den, of De cumber U, says: Colonel Blavely and sla.tr, to- ether with Ibe last detachment of tbe Hclade iri&ade,bavepabsedbere,en,roulfor Abyssinia. Advices Irom A enmity Bay report a great - so rclly of water. Tbe disease among tbe mules nd horses continued loan alarming extent. A chief ol tbe Tigre, wltb 000 men, bad arrived In tbe British camp. Hlr Roderick Mnrchlson.ln a letter to tbe Time, expresses bis belief luat Dr. Livingstone la still alive. Tbe Queen's Consul and Vice Consul at Zanzibar Buys tbat they are forced to the conclusion,! ion tbeaccouuls received, that, Id all probability, Dr. Llviogloue Is tie white traveller mentioned in tbe last despatches re ceived. XeidlerU Correspondent, a semi-official Berlin Super, says tbat the French diplomats in oulbern Uermany are again busily employed in recommending alliauce with t rance as tbe gieat Catholic and conservative power. Large popular meetings bave been held at Zurich, VVlnieribur, Ubier, and Bulacb, at which resolutions were passed In favor of a re visit, n of tbe Zurich Constitution in a com pletely democratic sense. During tbe meeting load oilcsof "Down wltb tbe present system," "Away wltb its supporters," were mtered. Advices from Switzerland state that, notwith standing Ibe assertion or some of tbe Italian Journals tbat i rluce Mapoleon wai expected to meet King Victor lmuuuel at Monza, bis Im perial lilabnevs was still alhissealof .Pranglns, on tbe Las e of Ueae va. For persons who are frequently in the habit of sending telegraphic messages, a new system Is coming into operation lu Paris on tbe 1st of January. Adhesive lelegrapblo stamps will be Issued, tn be put on tbe original despatches by tbe senders themselves. Kpeolal boxes for tbe receipt of these despatches will be placed in the different quarters of tbe etly. These Kn-va witt tut pleurerl everv ten ml nut ph. Ah rthe despatches will be sent to tbe different ' offices by the atmospheric lubes, they must be en cloned in envelopes of given dimensions, in Older to insure tbel.iui mediate transmission. The neeaie-gun now uennueiy auopteu ny tne Buselan War Utiles is of tbe Prussian pattern, bat tbe needle being somewhat shorter and thicker, tbe rapidity of the tiring la said to be slightly Increased, if Russian accounts are tiustworiby, an ordinary soldier will easily ac complish eight discharges in a minute, while a killed band is staled to bave no difficulty in reaching up to fourteen. There are not many new Tides being made, tbe old ones admitting of adaptation. 1,'Avtnir National reproduces a letter, or "memorandum," said to have been written by Prince Louis Bonaparte, tbe present Era peror, on tbe Koman question, in order to suow that bis Mnjesly's opinien was not always in favor ol maintaining tbe temporal power of the Pope, lie said: "The Italian people ars not yet capable ol support ing ibe bs'. or governments that 01 the Uuited bia'esof America. Tnese considerations leal met I believe ibat tbe government which tu present olr commune a suits Ha y bet li a constitutional mon archy, lu my Judgment Italy should bs united In one nsllun. Ld lorm but one family. Hue should bave Home for her capital. There sbou'd he in Italy a unity of weights, measures, and clti. There should be uo CDSicim-botise but fat on tbe frontier lor cer taiu foreign countries. The Cnanubors shou'd sll la Some, where the Pope might coatluas to occupy the Vatican. lU.t tbe bead ol tne Church, acco ding to tbe aptilt of the gospel, should bave spiritual power onl'." . . .... ... Cienerai i ima-non, wno naa neen restatng at Pan, bas left for fct. Petersburg, having been appointed Minister of tbe Post Office and of Telegraphs in Hus-la. M de Bonuieres. French Minister at Teheran, a; few days after bis arrival on tbe 19th of Octo ber presented in full audience to Ibe Shah of Persia bis credentials as Knvoy Extraordinary and Minister Plenlpoten lary of tbe Emperor Xapoieou. Ibe Virerny of Egypt and bis Minister, Nubar Pasba, are publUhfux at Paris a collection of the ancient and modern bistoriausof Armenia, Tbe members of tbe Armenian Aoadera v of Ht. " Lazarus, at Venice, and the principal French, find lorelgn students of tbat literature, are as sisting in the labors, directed by a French savant, M. Victor Laoglols. i'he collection will comprise five voiuu-es. Tbe net profit of thegamlng tablesln the little State of Monaco during 180ti-i7 was as much as two millions of francs. TIIE FKNIANS. Tits llllltarjr an Palica Arrangements tn London. From the London Express, December 16. The police auiborities at Ureal Scotland yard, sctlng in concert with the Home office, bave disposed of tbe whole of the force uuder their command in a manner which is regarded as Ibe best for their pntecnou against Fenian (mirages. Tbe several detachments and sta tions bave been placed wllhlu rapid communi cation. and tbe reserves are on such a fooling that very strong bodies of armed police, mounted and foot, can be quickly despatched tuany part of the metropolis. The officers of tbe Guards are also prepared to support them on tne it. slant. v ltblu a lew minutes a strong; foroe of the Oui-rds and police could be brought Into ao ttor, and, If necessary, lu a very short time they would be aided by some thousands of troor s, all of whom carry tbe Holder ride. Bo . far as any direct hi tacit is 0"ucerued. the au thorities could Immediately repress it; but it Is Mot thought tbat hostility will be shown In any aueb manner The only apprehension Is tbat outrages may be aile pted which would equal tn lerltieuMness tbe Mauotiesier aitaelr, and the one in London. A very large number of detec tives are on duly, and eveiy place where public or private properly, which It U thought might he a point of attack, Ih closely watched by tbein. Tbe Tower. Uie various royal buildings, and every depot ot arms belonging, to the regular . to'not er service, are careft lly guarded Tbe Government bas had Information re cently forwarded to them which oaused an apprehension that If anything were attempted It would be a seizure of arms, as the Irish con Mabulary. in part Ice Uf, have at various times tak en a very large quantity from the couspira- , tors. Special upon are made throughout the (lay, so that the Commlstiiouers at the chief cllloe are continually informed of all that is iiacsmg. At the same ttnus, persona bavins untrol of Important business p' em Utes would ao well lo see tbat they are properly watched, est eclally In case of fire. The efficient fire bri gade under command of Captain Hhaw, la, of course, always kept in a stats fur lustontser- Bxamlaatlon of the Alleged ClerbenweU Cansplrators. From th London Star, Dee, 17. During tbe whole of yesterday morning mnoh uneasiness prevailed in tbe neighborhood of tbe liow stre t police office, and crowds, smaller or larger, assembled from time to time in tbe street, in expectation that the prisoners, Tim othy Desmond, Jeremiah Allen and Anule Jtu-llB, would be brought up lor further exami nation. No bour having been Mxed for tbs hearing, considerable uncertainty arose, and many persons, after waiting about tbe neigh bothofcd for two or three hours, oatne to the con elusion tbat tbe prisoners would not be brougut before the maglstiate to-day at all. The Intervals were enlivened by the discus sion of various rumors, more or less probable, improbable, absurd, or impossible. One state ment was tbat an attack bud been made, or was about to be made, on MUbank Prison, where it was alleged tbe prisoners were confined; an other tbat tbe police court was to be blown up wltb grenades, or with barrels of gunpowder, charged with slow matches, to be thrown In tb rough Ibe skylight from adjolniug buildings; a third that llutke and Caxey were confined at tbe Tower of London, wblcb building would be stormed by Fenians in tbe afternoon. At about twenty minutes past 8 o'cloo Sir Thomas Henry look his seat upon the bench, and the three prisoners were placed at tho bar. Tbe female prisoner, Justin, was assisted In-to tbe box by a lemule attendant ( Mrs. Umlm, the seat cber ol tbe Bow street station), and was ac commodated with a seat. (superintendent Durkln said Sir Thomas Eeniy, before commencing the proceedings, let me hand you a medical certificate whtcu I bave received as to tbe health ef the female prisoner Justin. Sir Thomas Henry (after examining the certificate)- Lei Mr. foland see tbls. It was accordingly handed to Mr. Poland. Mr. Polai d H.r, I am Instructed by the so liii.ru ih. Troumirv to nnnear here lo con duct tbe charge sgolnst the prisoners, but as I bave inly been recently instructed, and as inquiries of considerable importance are sMil pending, It will be my duty to ask you for a fur ther remand. There are witnesses who.unfortu rjately, are now confined to the hospital Incon sequence of injuries which they recelveJ, and there are other and various reasons why the case sboulo stand over. Among others 1 bave nere a medical certificate lo tbe ellect that tne woman at tbe bar, Anne Justin, is exceed ingly unwell, and tnat it is desirable that she should not be detained here long. Under these circumstances I have to ask tbat tbe prisoners be remanded to some day when further and most material evidence will be laid before you. Sir Thomas Henry observed tbat tbe request was a reasonable one, and tbe prisoners were accordingly remanded. Beiore being removed from the doct Allen asked leave to put a question to the other prisoners. Sir Thomas Henry I cannot allow you to examine j our fellow prisoners. Allen It lsonly one question I wish to put. Sir Thomas Henry You cannot examine tbem, and I advise you to reserve for the pre sent any statement you have to make In defense. GERMANY. A Difficulty with Kussla Developing. Tbe Vienna Alorgtnpost of December 10 says: We understand tbat with the new year Baron Weriber, the Prussian Ambassador, will as sume the title of Ambassador of tne North German Confederation at the Court of Vienna; and In a recent sitting of tbe Prussian Parlia ment Count BUmark informed the members tbat all tbe Prussian envoys lo the principal courts will shortly be recalled, to be Imme diately re accredited In tbe name of tbe North German Confederacy. Tbls step, though in strict accordance with the lederal charter, has been postponed from a desire to spare tbe sen sibilities of tbe minor princes belonging to the reformed commonwealth. In tbe same legislative silting tbe measures recently Uken by the Russian Government for suppressing the German language in tbe Balllo piovlnces wereoompluluea ol by sonue deputies, llerr Lowe said tbat if the Kussiau Govern ment tboughtlisell entitled to interfere In bo halt of tbe Kay ah on the ground tbat the Chris tlan subject.ol tbe Porte had acornmon religion and language of their own, Prussia bas no less a right to protect tbe German Protestants under tbe Kusslan sceptre. ThOBe Germans bad Hi st colonized tbe Baltic privlnces; and If during tbe xnauy divisions of the holy Koman. empire Lounana ana iivouia naa ueea iosii on tne eastern borders, as are Alsace and Lorraine on ibe western, tbat was no reason why the Has slan Government should not be made to respect privileges confirmed by successive Czars. In answering this lnterpetatlon. Count Bis mark evinced a marked desire to remain on good terms with IbeHU Petersburg Cabinet. Ue conld not Interfere with the domestic policy of a friendly power, and was afraid of wounding tbe sensibilities of a neighboring race. Passing over to s notber grievance given utterance lo by a preceding speaker, be admitted that the posi tion of the province of Eaatern Prussia In being eul off irom Kui-sla by a prohibitive tariff' was very melancholy. Eastern Prussia, all but sbut out Irom commerce, was condemned to an agricultural existence by the Husslaa Govern ment. ZeidUr't Correspondent, a semi-official Berlin paper, says that the French diplomats in South ern Germany are busily employed in recom mending alliance with France as the great Ca tholic and conservative power. A marriage between tbe Crown Prince of Hol land and tbe Prlucess Frederika, eldest daugh ter ol ibe ex-King of Hanover, Is contemplated at tbe Hague, and highly approved at Paris. If the settiemeat between King George aod the King of Prussia is ratified by tbe Berlin Chambers, the Princess is expected to have a dowiy of two million tbalers. General von Roon, tbe Prussian Minister of War, will leave r.erlln for a southern climate to reotult his bealtb. The duties of his office will be provisionally administered by General Podbilski. In tbe sitting of the Bavarian Chamber of Deputies, December 18, the Military reorganiza tion bill came on for discussion. Prince von Hobenlobe delivered a speech, in which he said: The present feverish slate of transition lenders a gieat crisis imminent and demands an increase of military power, In order that Bavaria should be armed lu such a manner as to command respect, and thereby assume a fitting position among European States. The militia system and the present military consti tution ot Bavaria do nolsullke Cor that purpose. By imitating the Prussian system Bavaria will obtain an equally good army, and will be able, in conjunction with her allies, to repel any lores that may threaten her lights. ITALY. In the Italian Legislative Chambers, on the 181 b of December, the debate upon tbe foreign policy of the Government was resumed. Hlgnor Crispl continued his sneeoh by demonstrating the violation of the September Convention by France. He maintained tne universal charac ter of the late Italian movement towards Home, and averred that it was Impossible the temporal power could be retained. He pointed out the Inconsistency between the principles of the Napoleon lo dynasty and the present action of the Prencti Emperor. "Parliament," said tbe speaker, "cannot dis cuss or determine the means of going lo ll'ime. Italy mast watt for a favorable opportunity, 'i be present Ministry Is powerless lo lead Italy to Ibe fulfilment of the national programme.'' Hlgnor Cripl quoted several former speeches of Getetal Meuuhrea, as indicating the clerical and liberal policy of that Minister. An excited debate followed,- lncludlug much recrimina tion between tbe right and the left ol the House. Hgnorl Mlnghettl and Vlxonntl-Venocta rtro teMd against tbe attack of Blguor Crispl. They deicnaed the heptember Convention, and tneir policy upon tbe Koman question. Signor Marl, tbe Minister of Jnstlce, protested against the terms In which the arrest of Garlualdi had been condemned, and defended the magistrates who had confirmed tbat arrest. hlgnor Peprel Is appealed to tbe members to abstain from u soles resilinlaallou, and the debate was again adjourned. TURKEY. The Levant Herald announces tbat a Connoll of Ministers waa held at tbe Presidency of the Great Council, in Constantinople and that tbe deliberations were relative to the conces sions ssked by the Cretan delegates assembled at Cane a. All Pacha wUl rsmalu la Can d la two njpuibs longer. AN ILLINOIS TRAGEDY. A Plroresd Husband Wreaks Vengeance npea his Former Wire. From the St. LouU Republican, Dee. 28. On the evenlnff of Thursday, the 26th, the most bloody traeedy ever enacted In Belleville, Illinois, was perpetrated in the upper story of the Iieutcbler House, by a man named Jacob Bchcpp, who, after cutting a Icarlul gash wltb a kulle in the abdomen of bit wile, attcmptei his own lite with tbe same weapon, by stabbing htmFelt repeatedly tu the leit breast. The occur rence took place a little before 6 o'clock. It seems tbat fecbopp bad been absent from home eeveral months, part of which time he bad been spending tn St, Louis, and part in New Orleans, and that lor a long; time prior to his departure his dissolute habits and perverse disposition bad been the cause of much Infeli city at borne. It is said tbat betides cruelly ill-trestlng his wlte, who is a small and delicate woman, he has been in the babit of threatening her life to otten, that she concludel finally to seek a legal separation from him. Tnerelore, at the )a?t term of the Circuit Court she applied tor and obtained a divorce from her marriaee boDd on the grounds of severe and repeatel cruelty. Personal service was had upon h-r hmbaiid.but be interposed no deicuse, and, upon trial, an overwhelming case was made out against him. Since the granting of the divorce it Is said tbat be bas been seen lurking; about Belleville, moody aud sullen. Sometimes he would ven ture into the building in which his divorced wife and children occupied a tenement room. Fre qoeollv he would partially ascccd the stairs as if coira to her roim, but upon being observed jy'eny other of the Inmate, he would imme diately retrace bis steps and leave tbe building. It If not positively known that he bas ever visited his wile since her divorce, until the evening of Thursday last, when he suddenly broke in upon her while she was preparing tne evei ine meal lor herself and little odcb. Sue was aloDe in her room at the time, two of her children being in a neighbor's room on tbe same floor. Immediately an altercation was begun by bis niflktng a violent demand upon bis wife for $200, which be alleged she bad. Becoming frightened, she attempted to leave tbe room, but was prevented by her Inturiated husband, who, at that moment probably, in flicted upon her tbe wound ot which, the medi cal gentlemeu think, she will surely die. The screoms of the woun led woman brought out her next-door neiehbor, who. terntlcil, lied down etalrs Into the street calling for help. One of the city officials ran tip 'stairs, and foun l the wounded woman stand on the landing near her own door, with her youngest child, about one vrar old, in ber arms. Being in an excited and laintiijg condition, she was taken into the next apartment and medical attendance at once pro cured, when it was found tbat instead of being merely bruised, as she supposed, by betrjg struck wilh a pistol, her bowels were actually protrud ing from a murderous-looking gash in the aodo men, and that tbe nature ot the wound was such as to preclude almost all hope of ber re covery. Her ' fiendish assailant, we will not dignify bim by tho name of husband, was found stretched out npon two chairs la the room where, but a few minutes before, be had attempted the li'e of his terriaed wife. He seemed stupefied, and made no response when questioned about the deed be bad done. His coat was off, and spon trying to hit him it became at once apparent tbat be, too, was wounded. Two small pools ot blood were found upon ibe floor near where he was reclining, aid his (blit and other clothing were soaked in blood. A pallet was then prepared upon whish he was laid, and he was observed to be sinking very fast from the edect ot five or six ugly stabs around and upon his lett breast. But very little sympathy was manllested for him, and he leceivcd no attention irom the doctors until be was removed from the room in which he lay to tbe Enrrine House, yesterday forenoon, on a stretcher, by order of tbe authorities. He may now, it is thought, recover, although, his wile may ana prooaDiy will die. The relatives of the would-be murderer and suicide, and also those of his unfortunate wife, are deeply distressed at the occurrence, and none seem to desire his recoverv, or indeed to care whether he lives or dies. Mrs. Scliopp has experienced much Buffering, and may die Irom inflammation and raorttdcatioD soon, in view of which fact her dving declarations were to bave been taken yesterday, and her boy, a bright lad twelve 3 ears old, has been sent tor from this city, where for some time past he has been at school. THE KLW YORK CHECK ROBBERY. Arrest ef Three Men Who Ars Identified as the Robbers How They Were Xla cogntEed. - '. ! ' IYom the N. T. Evening Pott, latt evening. On (Saturday night, about 8 SO o'cloclr, Ser geant aVcGovern and Officer Dunlap. of the beventeenth Precinct, ariested a notorious tbief, named Thomas McKeon, In Third street. near Aveuue A, on suspicion ot having been one ot tbe men who kneciccd down aud robbed ibe messenger of the Bank of tbe State of New York in William street, near Wall, on the 13ta Inst. On the way to the siation-house McEeoa attempted to escape by slipping oat of his coat, but was prevented irom doing so. A moment or two afterwards a vountr man named fcdward Qoodey, alias Gd. Moore, inter fered, and fired two shots at tbe oiDcers, but both missed their aim. Tbe olticers recognized tbe person who bred the shuts, but deterred arresting him, as they were determined not to lose their hold on McKeon. About 10 o'clock the same officer arrested Washington Uoodey, alias John Smith, a brother of tbe above, in Avenue A, near Third street. Tbls man was suspected of robbing a man of a large sum of money which be carried in a cur pet bag in Forty-third street about a year ago. He was arrested at the time and partially identified as one ot the persons who escaped in a butcher cart alter the robbery, but be waa set at liberty, it is said, through some legal technicality. When tne onicer tooK tots man into custody two six barrel revolvers were Disced to his bead, and he was told tbat it he attempted ioecpe he would lose his iiie. He was then taken to the Station House and lociced up. About midnight Sergeant McGovern arrested Fdward Goodey in Tblrd street, near the C!ttho- lie cburcb, and be was also locked up in the Seventeenth Precinct Station House.- At lb o'clock this morning the three men were taken toPol cc Headquarters lor ideutitiijaiion. Superintendent Kennedy, Inspector Dilks, and Captain John S. Young took tbeirsealu at tho detk, aud opposite to them a long row of de tectives, newspaper reporters, and colice clerks were seated, when Washington Goodey was brought in and men a seat in the centre of tbe low. Mr. Kinsley, the bank messenger, then entered and r a piety tan his eye along the line until be came to tne prisoner. He trave Goodev a steadfast look, when the prisoner's lace be came deaaly pale. Kinsley expressed tbe belief mat ue was one or tne' assailants, aitbongh he could not swear positively 10 the fact. Edward Uooley and MoKeon wets then brought in and placed in different ptrts of tbe lire, when they, too, were iuentltJed, although the uessenaer could not swear positively to tbem. During this time not a word was rpoken by any one present, ana In tbe few monfenn required for identifica tion the ereatest anxiety was depicted on the faces, not only of the prisoners, but ol all others piesenU . , . ,. , , .. . beveiai other persons who witnessed the rob- bery were brought in and partly Ideu titled the ptUoners. One gentleman positively ldeutltie i Edward Goodev as one ol the robbers. About an hour was required fur the examination, and the prisoners were viewed standing, sitting, and wltb Heir backs turned; also, with their bats removed from their beads, the r coat-collars turned, and in other positlens. The accused are all loung men, sod the police repmsnt them as notorious chsmters. SECOND EDITION FROM WASHINGTON TO-DAY. Ecnator Morton on tbe Policy of the Republicans What He Thinks of the Situation, Etc. SPECIAL DESPATCH TO BTSNINd TEt.EQRAFH. Washington, Dec 31. The epcech of Senator Morton, of Indiana, last night, at the Union Letgne Hall, excites much attention to-day, as he is one of tbe ablest leaders of the Republican party, and his vlenri indicate toe-policy they will be likely to pursue in tbe next Presidential campaign. He is opposed to the crushing taxation now existing, and thinks tbat, if this generation only pays the interest ou the public debt, it will be doing its full share. He Is in favor of reducing both our army and navy to at least one-half their present propor" tions. Ho thinks tbe purchase of Alaska justi fied, on considerations of high political and commercial importance for tbe future, but is opposed io tbe purebnre of St. Thoma. He recommends the funding of the public debt at a low "ate of interest, and considers that the triumph ol the Democratic party in the next campaign would be a calamity which would result in the Union soldier being disgraced, and the places of honor and trust would revert to Rebels, nnd their names occupy the position of honor on the pages of history. The Haw British Minister is expected to arrbe In Washington early in January. The Weather. There is a light fall of snow here this morning. From Central and Sonth America. New Yobk, Dec. 31. The Panama Utar ol the 23d Is received. The steamer Newbern arrived at Aspinwall on the 18th, with 350 men for the Pacific squadron. Tbe gunboat Mohican would leave for the North Pacific about the 1st of January, but would await the srrlval at Aspinwall of the fri gate Minnesota, with a class ot midshipmen for tbe Pacific service. The Mohican on the voyage to Panama picked up the schooner Petrel, from San Francisco, with treasure seekers bound to Coas Island, in distress, and towed her to Pa nama. The gunboat Wateree arrived at Panama on the 15th. SOUTH AM EE I CAN NEWS. South American news Is of no special impor tance. The new volcano, about twenty-four miles east of Leon, Nicaragua, bad been in vio lent and grand emptiou, throwing out fire and cinders from two craters, and lately had sent out heavy showers of fine black sand which reached Leon, covering the streets of that place to the depth of half an Inch. Arrival of Over One Million In Specie. New Toek, Dec. 31. The steamer . Henry Chauncey, from Aspinwall, bas arrived. She brings one million one hundred and eleven thousand seven hundred and forty dollars in specie ($1,111,741). Markets by Telegraph. Pan FBAKCif co, Dec. 80. Flour quiet and In de mand, hunt et. a S7M(aiS'0U surerHoe. '75v8-26. W beat steady al 2'46g ka. Legal-teadsrs, 7S. Slaw York, Dec. it. Stocks heavy. Jbioao aod Rock Islaud, M': Reading. ),"; Canton Company. 18X; Krle, 7 IK: Cleveland aud AOledo, Wli Cleveland and Pittsburg, 7: rumoura and tori Wayao, SO1,; Hlcblttan Central, 108; Mich ((fan Boutbem, Hi'i; New York Central, H6& Illinois Central, 13SX; Cumberland preferred, Its; Missouri lis, Hudoa Klver, 13.'.. U. 8. Flve-twenlles, 1S62, 108.'.; do, 1801 10S; da 1, lot; Ten-forties, Peven-thirtlee. ux Money, percent. Exchange. lo. Oold, 133K. New Yobk, Dec SI. eotton firm at I5e, Ftonr firm; 480ii barrels sold; Btate. 8-ii6(a)iotKC Ohio $9 7ai IK: Western, tB-MK it KoatDero,iiWu)l4tiO; Cat Horn la, r,l 6c(;ia to. Wheat Arm; lOuO bu-staeia 10I1I; white Mlasoorl, tl-Mt. Corn firmer: '.'S,ooo bushels sold; Wente'S. lSWat S7H. Oat Arm; Western, 84.Sc. JRarlar quiet; lu(KbuabelnBoid Stale, l 8. Beef quiet. Pork stead;; mess, 2l'2S. Lard quiet. Whlaay quiet, THE PUBLIC DEBT. Important Letter by the Hon. K. O, Spal. dins; on Go4 Faith la Meeting Oar National Obligations. Buffalo, Dec. !M. The Hon. E. D. Morgan. U. 8. Bens tor, Washington. Dear Sir: I am in receipt of the recent Keport of the Finance Com mittee brought In by Benalor Bberinan, and Hm ate bill No. 2U7, "tor funding the national aebt, nd for theoonversiou of tbe nolea of the United Btates," .accompanied bv your letter of tbe lUth instant, asking tuy opinion on the pro posed measure, or any of its parts, and desiring me to communicate my suggestions at an early uty. 1 notice tbat Senator Sherman, in his report, (panes 0 and 7), glvlug countenauce to the idea that the 6 ftlboudtt. nnder the act of 25th Febru ary, lbtii, may be paid in the depreciated green back cuireuoy, is laboring uuder a material mlappreheosion of the facts in regard to the rearesentatlons made by the agents of tbe Government when tne loan waa negotiated, and especially aa to tbe time when those repre sentations were made. Mr. Btierman says: "It Is said that the dlsiiuguisUed Becretary of the Treasnry wno negotiated the loan, g ive a const! ucilon to this - act at ibe time tbe loan was offered; tbat this was ai.nouijced lo tbe people, and upou the tallh of this Ibe loan was taken. Your Committee can nnd no official declaration made by Hie Secre tary on this subject until after the loan was negotiated," and then refers to a letter written by Becretary Chase, May 18, 1804, as belug tbe first official declaration on the subject that has come lo bis knowledge. Tbe Ueuator seems to consider that if the Secretary made official declarations at the time the loan was nego'lHtel, giving a construction to tbe act, to tbe effect llialt he principal, cs well Rsttij lL.it rest, waa payable in coin, and that If bona parties understood tbat to be tbe construction of tbe law, such declaratluris would form a part of the contract, and tbat tbe Uoverninent won Id be bound to make these declarations good, aud to give effect to tbe contract as understood by both parlies when It was made, Now, ibe proofs are at hand that such ofticlal representations weie made by thedlstlnguished Secretary of Ibe Treasury, before and al the time the Iran waa being negotiated, as I will uovr pn eeed to show. Secretary Cbuse, who negotiated that loan, decided as early as December, IW2, that a fair construction of all tbe loau aots under willed tbs funded debt was contracted, required us to pay actual money gold aud sliver on all tbs landed debt of tbe Govern men I; that a pre tended payment In another promise of tbs United biales was DO payment, but merely changing the form of the debt. In other words, tbat a payment of the bonds In greenbacks woold be merely subetliutliig tbe debtor the Government lu tbe form of les al-tender notes, bearing uu interest, for bouda bearing al per cent, interest, which would be manifestly un just. Tbls question came up on the kind of money that should be provided for paying that tart of Ibe funded debt, created prior lo lus Ite elllon, which fell due Jauuary 1, lHtf'4, ana this decision was then made aud published. Tne Oommltteeof Ways aud Means, in Deoember. ibtii. a short time beiore its inaturltv, dtwireu tu know whvtUer any furthsr legislation wvvUO, l n' ces' ary to insure tbe payment of coin on that psrt of Uie luuded debt tailing due witulu a few days. In order to ascertain In a lormal manner what construction the Secretary 01 the Treasury would put upou the law, a Sub-Committee from, tbe Committee on Ways and Means was ap. pointed, consisting of Mr, Hooper, Mr. Morrill, and myself, to router with tbe Heoretary ou the (-ntilict. This 8nb-t'ommlltee called unon the Becretary at the Tresaury Department, and, alter a iuii ana rree oonrorei 00, tne secretary derided tbat a fair construction of the law, aa well as good faltb. required him to pay all tho Junded debt tn coin, and that be did not deem it necessary to bave any further law paused to enable him to do ao. Under these clrctimstarjcw?, tbe Committee of Ways and Means did not deem it necessary to reporta bill aat.borlr.lng or requiring tbefuuded debt to be paid in coin, and consequently no further law was passed; and on ibe first of Jannary, l(tf, tbe funded debt falling; due at that time was paid tn coin. From Ibe time this decision was made by Secretary Chase, down to Ibe present time, tbe samo latiKuagebas been held by each Secretary of theTreasury, namely, tbat t tie funded debt of the Government waa payable in coin, both prlnolpal and interest, and tbat the Government would not seek to avail Itself of tbe five years' option to redeem tbe Five-twenty bonds until It was prepared to Eay com for the principal as well as the Interest, ut tbls Is not the only proof. Messrs. Flsk A Hatch, bankers in New York city, were prominent snb-Hgeuwof tbe Govern ment in negotiating the 5 20 bonds under tlie act of February 25, 1802. Many persons who were desirous of subscribing to this loan, wanted to know authoritatively wbetber tue principal of the bond was payable In coin as well as tbe interest. In order to bave tbe proof In hand to satisfy people 011 tbls point, Flsk & Hatch, at the very time they were negotiating large amounts of tbls loan, addressed aletterto tbe Secretary of tbe Treasury on the 8d of AueuBt, 1803. and received Irom him an official reply, signed by tbe Assistant Becretary of the Treasury, which was Immediately published in the New York Times, as follows: THE rOPULAR LOAN. To the Editor of the N. Y. Timet. We are receiving numerons inquiries as to whether tbe Uuited btiitt-s 6 -an Donds are redeemable lu g ild. tVe bave receive'! a tetter from ths Treasury Depart ment most satisfactorily answorlits; tbls question (as It was once before anowered by Mr. Chase), a copy of wblcb we band you berewitn. Tne popular charac ter of tills loan, and it wide distribution amninc the people, rndrs the subject one of universal public la tereni and Importance, and we presume the pit l cation of tbia letter will be acceptable to yunr ra iders. F1SK A 1IATCH, Uaakers. "Trbasury Departu rwt. "Washington. D. C, August 5, 1843. ''Gentlemen: Your letter of lbs 31 tnstunt. relutlve to the redemption ot 0 par ceit. 6-20 bonds of tua loan of February 26. bas been received. Tne follow, lug Is tbe decision of the Mecrelary of the Traatttry In mgard to the redemption of tne public d.bt: 'All coupna and registered bonds, form! u a part of lb permanent loau of thn United Slate, will bs re deemed in gold. Tbn 5-20 sixes, being redeemable at any time within twenty year afiar the laps of Ave years, belong to tbs permanent loan, and so do ths twenty year sixes of July 17, 1861, Into which tbe threa years 7'H0s are convertible. A'l obligations and notes forming a part of tbe temporary loaa will be l aid at maturity in United Hiaies notes, unless be fore such maturity payment 111 specie shall bave been generally resumod. Tbe 7 '30 threa year bonds or notes form part ol tbe temporary loan, wltb the privilege of conversion Into twenty year sixes, la sums ol not less than Ifttio. Tbey will, therefore, bs paid. It the holders prefer payment to oonverM n, in tailed Stutes notes. 4uo Barrinotos. "Acting Becretary of the Treasury. "To Messrs. Flsk A 1 atcb, Bankers, New York." Tbls official let'er from the Treasury Depart ment, In addition to its being published In all tbe newspapers, was published in hand-btil form (one of the original hand-bills being now In my possession), aud sent broadcast among ibe people, to induce tbem to come forward and take ap toese bonds, wblcb were then la the market, nnder the direction of the Secretary of tne Treasury, and offered by him at par. I was at tbe time actively engaged in negotiating tbls loan. I advertised and circulated this let ter extensively myself, and gave copies of it to subscribers at tbo time of making their sub scription to this loan. 1 regarded these representations, made by authority of tbe Treasury Department, and npon the faith of which people were Induced to subscribe for the loan, aa forming a part of tbs contract, and tbat tbe Government is now bound to make these representations good; anal that whenever they seek to redeem these bonds, tbe principal aa well as the Interest shoula bs paid In coin. I "bonld regard It as a gross breach of faith on the part of the Government to attempt to evade these declarations, or equi vocate In lulnlUng this eontraot, or any part of it. liut aside from these representations made by the Secretary, I would suggest that the plain meaning of tbe act of li" when read in con nection with its tltlo, leads to the same conclu sion, and tbat Seoretary Chase; lu giving the construction to the law which he did in nego tiating the loan, gave a correct, practical com mon sense decision. Tbeargumeut of the pre sent Secretary, in bis last Annual Keport (pages 24,25, and Ml), la able and conclusive ou tnls point. The Interpretation given to tbe act by both these dlsllngulsnad Secretaries is in ezaot accordance wilh tuy intention at tbe time I drew and introduced the bill In tbe House, In January, 1862. and as 1 believe It was fully un derstood by Congress when It passed. Tbe title oftbeactls expressive of ths lutentlou and purpose for which it was passed, namely,' An Aot to authorize the Issue of United States Notes, and for ths ReJeinpllou or Funding thereof, and far Funding tbe floating Debt of tbe United States." It was intended by this measure. Is ths Im minent peril in which we were then plaoed by ' Rebellion, to make a forced lonn from capital ists, by compelling tbem to take legal-tender United States notes, which should be paid out to the army and navy, and for s applies aud materials of war, but at tbe same time give tbem a fair rate ol Interest for theaseof taelr money, by allowing tbem to fund tuese legal tender notes as tbey should accumulate in tbeir bands, and not bearing Interest, Into a twenty years' bond, bearing a per cent.. Interest, Mr. Spalding here quotes at length from a speech made by him In Congress, lu January, 18U2, and continues: These are, in part, the remarks I made in the Bouse on tne Loan bill introduced by me, and which became a law February 25, 1802. Tue operation of the bill. In the issue of the legal tender notes, the paying tbem out to the army and navy, their final funding into a 20-years 8 V sent, bond, bave been substantially what I staled would be its operation at the lima I in troduced it into tbe house. The object of the bill was to provide tbe means by which the floating and temporary debt, then bearlug heavily upou tbe treasury, mlgut, by the opera tion of tbe act, he funded into a long bond, without a heavy sacrifice In making the nego tiation. Boise gentlemen are now trying to reverse the obvious inteut 01 the act, aud unfund all this horded debt, by again pulling it luto a floating and temporary form. I regard all these late shifts and quibbles to unsettle what I. regard as alreaoy honorably need aud deter mined by the Treasury Department, under aud in pursuance of law, as unworthy of this great nation, unstntesmaolike in those who advo cate it, and, If persisted in, will I think, inevi tably destroy tne credit of the Government, aod postpone indefinitely aresuuiptlon of specie pRvmeut. Why take ths back track nnder these fund ing loi.n bills? Why open the iueslton at all at this lime? The Iloauug debt aud temporary loans are already funded; or so nearly funded that there cunnot be any reasonable doubt tbat, by the ISth of July next, wuen tbo last srleaof7'3u notes tall due, the whole will be funded luto bonds, none of which are payable nutil 1882. belug fifteen years yet before they become due. The Governmeut Is not legally or morally bound to pty one dollar of tbe prin cipal of these bonds until they beeome due. Then why trouble ourselves about fundiug that which. Is already fundud, especially when It bas to be done by repudiating tbe acts and declarations of the Secretary of the Treasnry in the discbarge of bis official duties? - Why raise the question now as to the kind of money with which we are to pay bonds already outstanding, and which are not beoomlua daa until 1K2? " Tbo $830 000,000 of throe years 7 80 notes were sll negotiated uuder representations made by ths Treasury Department similar to those made in respect to ibe 6-20 loan of '12, with aa ex press stipulation that tho holders of tbese notes should have ths privilege or converilug tiiem, at maturity. Into 5 20 bonds. The bonus of '62, as well as ths bonds issued In redemption of the three series ol 7 '80 notes, all stand upon tbe earns footing, and tbe Government Is no doubt bound to pay tbo principal as well as Interest lu coin, whenever it leeks to retire these bonds nnder tbo five years option reserved on Ibo faoo of thsss bond. Xbat sueh la tne view taken by tbo present Seoretary of ths Treasury rally rv Sears by bta letter to L. I. Morion A Co..' ankers, la New York, in whioh he says.H ' "Taanarsv Department, Nov. II, ISM (lentle man: Your favor of Itaa INib Inatantls received. I . regard, aa did al.e my predecessors, all b inda of tho United tvatea aa payat tn coin. Tbe bonds tbat have matured alnco the supenalnn of specie bj. met ta have bean so paid, aod I bave no doubt that ' Ibetama will ba traa or all ottiara This being, aa ( -. understand It 10 ha, h established DO' Icy of I ha Gov- eroment. tbe S 20 bondanf JS 3 will auher be railed In at the expiration ot flva yearn from their date, and paid In coin, or ha permitted to mo onttl the Uovern- , mant Is prapartd lo pav them In coin. I am. vary truly yours, HVdH McCUMXIH, BooY. r "Messrs. L P. Morton A Co., Nw York.'1 Under the influence of this oflioial deoIarttV tlon, rnnst of the bonds have been taken on the excffSnge of the 7 80 notes. In pursuanee of ths -stipulation on the back of tbe notes, aud loaa! 1 before these bonds beme duo specie pay nteots r will no doubt bo resumed, and we shall then -have but one standard of value, and only one) -kind of money, namely, coin or Its equivalent, io which to pay these bonds. Our population) and resources will bo nearly double then what ' tbey are now. We shall bo abundantly able to pay at tbat time in that cmrency which in -recognized by all civilized retlone a ths true 1 standard and men sure of value, and tbereby ' the honor and good latin of tbo nation will be fully maintained. E. G. Spaldino. FINANCE AND COMMERCE. , Officb or ths kvrnino TaxaonAra.!' , "luesdav. D C. SI. 18S7. There was rather more dispo-ilt ion to ope rat in stocks tti's morning, and prices were stetdy. ', Government loans were tlrmlv held. 1011 was' bid for 10-40s; 112 for 6s of 1881; lOfli lor 63 ' 6-20s;106J lor'G4 6-20; 105J tor 66 6-20; and IO84 for July '65 6-2s C.tv loans were la fair ' demand; the new la.ue sold at 9999, an ai- vance 01 . , Kaiirosd shares were tbe most active on tbo list. (Pennsylvania .llnlroad sold at 62. no, change; Heading at 48, uo change; Lebigb ' Valley at 61J. noebnnee; Ca awissa preferred at L 23J, a eheht decline; Philadelphia and Lite at - 2H4, a decline or ; anl North reumylvanla ati 33, no change: 128 was bid for Ca-ndcn and: Ambot; 204 lor Little Schuylkill; 67 lor Ukne-i hill; 10 lor fcimlra preferred; and 42J for4 Norther. Central. . Hank chares were flrmiv held at foil price.' 130 was bid for Farmers' and Mechan cV: 631 for Commercial; 106 'or Northern Liberties; 39 ' lor Mechanics'; 110 for Kenstne-toni 66 for ' Girard; SO for Manufacturers'; aud 62 for Com, monwealth. . Canal shares were dull. Lehigh Navieation- fold at 204, a decline of 4. and Schuvlkill Navlra-. tion pre erred at 21$, bo change. 88 waa bid for Moms LaLOl preferred, and 12 for Susquehanna Canal. Quotations or Gold 10 A. M., 133; 11 A. M.," 133: 12 M., 133$: 1 P. Al.. 133f. a decline of on tbe closing price of last evening. The loMowing paragraph Irom the N. Y. Wor d refers to a fraud in Wall street on Satur day, which we bear to-dav is likely to bs de leaved, if not punished, by summary legal pro ceedings: "A aen-atlon was created among th brokers by the dUcovery of a novelty In rascality by wnicb aomo leading brokers were victimised. A broker borrowed stocks, gave bis c necks lor theio. sold li e stocks for cah, deni sited tua checks received thereroi la bis bank, and matters ws s arranged that lbs HberlfT Stepped la and swept out bis bank aonoont, wltb tho procaeda be bao received or tua borrowed atooks, upon a confession of Judgment this wormy and enter prising Individual bd made to bis slater yesterday.' Tliosa from whom bo boi rowed tuo Blocks hold bki cbtcks, but no caab." The N. T. Times to-day says: "Tbe traofaclon. la money among the bankers) and brokers to-day were not I rge and the market M quiet at 8 per cent., as ibe general rule. 00 demand, lonna. The opinion gtins sire' gib that there will bo liltl or do extra preparation for the Quarterly Binle return, oua at Washington o Monday next, II ibis) event Is felt at all at buk, H niiii be by Frli ty afar noon of tbe prttent week; bf ra wblcb time iodj the Treainrv and other quarters for t natr Janu ary dividends. The alnsuUr theory Is tndu'ged by aorae ol the bearish speculator, lo stocks, tbat tbs disbursement of I2j.oo0.iion or 130 WO utiO from tbe Tre. sury will make nionev tempoiartl.v scarna, aa gold Is not currency; but tbls la wbolly taliactooa. Tbs street receives tbls money as the earned wStltn of the bondholders ol tbs Hotted States alnco last July. It has been locked up In tho Treasury fi r six montha, Irom all trade and banking employ ment, as effectually aa I bough tho gold were still In tbe mints of California. Its ruleas on New Year's Day, If hold for currency by tne Government, might create a demand for the latter, aud thus tlgitao tbs market. But as It Is. It la so much galond to tbo money proUts ofib tanks, savlnga tnsilnatous ana othernulders of United (states stocka, 10 he tent 00 1 ot reinvested aa soon as race Wed trout tbo Treasury." The San Francisoa Circular of Dec, It reports: . , "Honey continues nnnsually plenty, atd rates ars quoted at 1 per cert, per montb lor ca 1 loans on good security, and 10 per cent, per annum 00 long loan, wltb real estate collaterals. Our savings tnotitutioaS exhibit anxiety to find amplov nent for tbeli I 'lo and lncreal-g capital. The same Is true In reference to tb barks. Tola is onlook. for at Ibis season of ths year, ss all former precedents show ao active money market nnttl i brua'y. All departments o business are quit dull and Inactive, with tbe axeenltoa of real estate, wblcb seems to bolj Its own with lana rltv A oreaier valueo' orooerty -vans old la Novona- ber than ai y other month In the year. Tbo valaeof deeds v. as 2.0 o,i n. Tbe amonst of mortgages tr-rale.tji reached nearly It 250,iO being also larger tb&a for any other month to lb year, ft la Jail bajjy possi ble that lbs city is growing too rapid,y f .riheooua try. and that a great deal or capital, Instead of being Invested In real estate, may bo laid out to great ad vantage In olber eatarprtses. Wo want ratlroas and manufactories; among others a avpet fac tory. The material tn abundant, and of tho best quality, and skilled labor oan bo had at reasonable rat. a. Tne receipts of treasure durl a the period nnder review, and lor a montb past, ahoar a considerable decrease aa compared wltb former Itko Ser.ode. This la greatly due to tne lessened pro ud of tbe Comstnck Lode, aa well aa to I ha daoreass of tba coastwise receipt. Tbo demand lor bullion is comparatively qnt tn-dav, tbo 7in, and gold bars are telling at wixasis, with a prospect f higher raie on Monday, tbo 9 b. Hlver bars ara lo ntjderate rupply. selling at rar for good average lout. Cur rency billion l..a Atlantic clt aa are ottered as SV:t per cent, premium on gold. Might 1rlta. payable la coin, are selling allVajl per cant, premium, aod tela graphic transfers are made al lf&ll$ per rent. Tbia decline of 1 percent Is oln 10 lessened tales tor carrying 2reaiiur vis lathams by the Paclflo Uatl rleamftblp Company. BankarV sterling la quotaola a I in(d o.: commercial do., 4XiS49jd. On Paris, W, fog 80 days,"! The N. Y. Tribune this morning says: "Monev continues in go d supply al f per cent, with transactions at 7 pr cent t here is ralber more activity , but all bouses In good ere III are supplied al lbs former rates. Jr'urelgn Uxcbangela flrut." PHILADELPHIA. STOCK KXUUSGli KALK3 TODAY lie ported by Cebaveu 4 ttro., JNo. 40 S. Third street FIRST BOARD. zonocityss, ew...i .(Hi doNew.,.M, tin IM do.Mew.ls. vu.'i iiiiuo Pa cp 6s. ..c ilootic A Am a. '.,.. m I (Ml Leh N.gold 1 U b SAH IiomiN Pvnna lt...e lit) Hit' ah Leb W six 7H 60 do .........bo- 7S lno do........ !i7 iliosh Sch NT Pf..ha. 21 S U0 nil Cata Pf....b.4. fcJJt s ab Leb V R-....c S1K 10 Uo...... 61;i 1 ah Penua h.... s'isj tt do . 6'i ieosta Read H-la.boa. 4S loom i'uil A ICrle Mii loo do. txo. 21114! H0 do..ran.oe. in J HO do ..ttud. a DUOShBlgMl HBO. 4J tab Acad of Music. To ft Co. Quote tioverd- Messrs. Jay CooKe merit secuiitles, etc., as follows: D. 8. 6 of 181, 1124U24; eld 6-20. lOHKfilOSJ; new 6-30s, 18C1, 105j(itilu6; do., 186r, 106100; do., July, " ll)84(Bl08i; do., 1867, 1083taiU8 ; 10-40, 1011 102: 7'30s June. 14(41041;. do., July, 104, I04i ioid,133fai8J. inn Messrs. De uaveu A Brother, No. 40 Borun Third street, report the following rates of ex change to-day at 3 P. M.. U. l88. UU 112; do. 1862, 108(81084; do.. 1804, 10614) 106; do., 180V I06fo)106: o., 1865, sew, 108i) 1061; do., 1867,. new, i08f 108; do. M, llMtsf, 101i(ai02; do. 7-3K June, 104 ai04l aoi, Julv 1041BK''5 Compoatd Interest Notes. Jniie lbtvl du.. July, im, , 119-40: do. Aut.'ust, I864, ll'J-40; do., October, Wo 4, 119'40- do. Ocettbfr, 1S64, 119-40; do Mar! lsfio. m?fill7i;:do.; Aotsnsl, 1X66, 116 lltfl do., ee-ptember, 1S06, 115an; do., October, "oft, 115Jlli. Gold,' 1&3.(3133. Bilver. 128129r. v.- ,- .. r . . . Meoire, Wiuiani Painter A Co., banket. No. 86 & Third street, report the following rates of exebaupe to-dav at 17 o'clock 1 Gold, 13S413)J; 0. 8. 61, 1881, 1123111 rj. 8. 6-iOs, Mi, 10&,10b; do., IH4, 105jf(ill)6i, do., 186, 10613106; do. Julv, 1865, 108K6 108; do. July, 1867, 108ffil081; '6s, 10-40, 101J 102; O. ft. 7'd0s, 2d sories. lO4(3104J; Sd aeries, 1641 (i0 104 : Compound Interest Notes, Decern rrr, a, 119-40; May, 1466, 117,(f4117i: Angut, 1866, 1161 (iH116; 8.1 teiuber, 1866, 1161116, t UtobtV J866, 116iijn6.
Significant historical Pennsylvania newspapers