TOE DAI1 EVENING' TELEGItAril PHILADELPHIA, TUESDAY, JANUARY 5, 18C0. SPIRIT OF THE PRESS. EMTOBUIa OPINION OP TUB LEAD1NO JOCBNALS CP!( CCKEKMT TOPtt COMTILKD CVKBT DaT FOB THB KVHMBft TFI.E'lR APH. fcnuit airl Congress., from the Xcahi i le Uniun General Gratt lias ut hid foot down and declared that Iih will no; prrcult th Presidency to tm a pair of btooka. Ilia riuiruaent for the repeal of th o vil tuDuru law U a require ment involving the restoration of the Kxeca tive ollue to Ha former fore and its former freedom. Hid declaration for the Forty -fir-at Congreoa to meet h in. at, the threshold of his administration is nothing less than a bid for a new alliance, and an announcement of a new departure. Ilia quixotic, hut perhaps sincere, Intentions for economy of administration Bhow an animus, if not acapaoitj, to stop the torrent of extravagance and corruption which has flowed as vital sap through the part aud Stimulated It to its monstrous growth. , These three things mark at present the little spring which is to widen into a mighty river ol contention. To be sure, the last, a desire for economy, is only an aspiration. But Gene ral Grant is a very practical man, and his as pirations soon find opportunity for realization. If he attempts, as he will, to realize this one, Le will break, by having to break with his party. Look, for instance: an exposure of the revenue frauds and their stoppage in New York impoverishe and antagonize Morgan, I3ailey, Shook, and all the rest of the ring of whisky and Federal and State officials. Kven a hostile or critical attitude towards the Paci fic Railroad ring impoverishes and antagonizes , Tomeroy, Drake, Cole, Corbett, WillhwoM, Conness, Thayer, Tipton, Ramsey, I. Don nelly, Uorhaai, Loan, Rice of Arkansas, and half a hundred other leaders who oontrol the party from west of the Mississippi "as far for quantity" as the Pacific Ocean. Even a decent respect for the opinion of fuch mankind as Trumbull, Fessendeu, Fowler, Henderson, and Grimes antagonizes all the Butlers, Binghams, Chandlers, For neys, Bumners, Wades, Howards, Yateses, and Bam8eys of the party, while a dferenoa to these latter estrange the anti-impeachment radicals, and those, more sensible, who have come to agree with them, the Mortons, Sher mans, Frelinghuysens.Couklings, andMorrills of the organization. Collectively speaking, the sudden stamp upon the Civil-tenure law has started the whole party aud disaffected two-thirds of them in advance. Frank Ins Frauds. From the Chicago Repub icon. The surprising developments which have been made since attention was called to an individual case of fraud on the Post Ollioe De partment, by the use of a stamp counterfeit ing the signature of a certain Congressman, indicate the stupendous prostitution to which the franking privilege has been subjected. Evidences go to show that the forgeries are not confined to any one city, or even ojs State, but are in vogue in various commercial centres in various portions of the Union, par ticularly at the East. It is impossible, of course, to estimate with precision the losses which the postal revenues have sustained from this species of swindling, but probably $1JO,CK0 would be under rather than over a due allowance. How long this surreptitious conveyance of mail matter has beeu going on is not known; but the unblushing effrontery which characterizes the crime, and the exten sive scale upon which it has been committed, favor the idea that the praotioe is not of recent date. The whole subject d serves a searching and unsparing investigation at the hands of Con gress; aud offenders, whenever discovered, should be brought to condign punishment. One of the first duties whioh Senate and House owe both to themselves aud the coun try on reassembling is to appoint a special committee, several or joint, to ferret out these frauds upon the department. There have not beenj wanting persons who have more than hinted that the forgeries have been connived at by corrupt post-office officials in some in stances, and in others by members of the Na tional Legislature. If there is any truth in such allegations, the guilty parties should not be permitted to escape; if there is nous, then it is equally desirable that no unjust imputa tion should be allowed to taint the characters of innocent persons. Another duty of Con gress, made plain and imperative by these recent developments, is to plaoe the franking privilege under such restrictions that frauds will become impracticable. It is just suoh leaks in the revenues, external and internal, that swell the volume of taxes to be laid. Every dollar due to the Government, that is not collected, creates a deficit which must be made un from the pockets of the honest and law-abiding classes of the community, who are moat deserving or protection. Congressional Jobs Ft om the N. Y. Herald. The Fortieth Congress has but two months more existence, and looking at its past history and at the vast budget of jobs before it and those in process of incubation, we fear the Tieasury and the tax-payers will be made to sweat before it expires. The railroad, tariff, bondholders, bank, and numerous ether rings are preparing for a grand onslaught upon Con gress ana the Treasury, since tne war com menced tens and hundreds of millions have been appropriated and squandered in the most reokless manner. Even in the fourth year of peace the expenditures of the Government Lave been kept up to an ordinary war figure. Cofigrtsa Las been so accustomed to lavishly appropriate vast sums ior everyiuing, mat it seems incapable of understanding the word eoonoinv or of returning to anything like the economical expenditure of former times. In faet, it has become utterly demoralized in the matter of expenauure. Without reckoning the interest on the pub Ho debt, the sums appropriated for the ourrent expenses of the Government amount to four times what, was expended nine years ago. Dj8B anyone believe this is necessary ? Do we not all know that this Is most reckless and monstrous extravagance I The rings and the lobby, which are bent upon thrusting their Lands deep into vue treasury, uuw uy expe-l-inncM how demoralized Congress is, and will make hay while the eun shines. We may nent. therefore, at the heel of the session, ,irtat the confusion of business, a rush of i.ni. fr,r all aorta of lobs and under every oon ,.,i,w diHonlse. All the buncombe speeches a out economy amount to nothing, aud will nmi.tUv. to deceive the people while members and the rings are putting through w their plundering sohemes. Thur mav anme few broad national pro ieots for which Government aid may be lent, 1.,, If alt mi 11 nnA fUX l) done in suoh a way as not to be a burden on the Treasury. The Pacifio Railroad was one or ttiem. iwery zeu is interested in the great work. The whole country will be commonly beneiitea. isaiimv Is no reason why the numerous other railroad schemes now before Congress shoutd be con Btructed by Government aid. Nor is there any reaiou why the Government should not take the most s'tipgent measures to have the aid I to the Tacifio Railroad refunded. Another I (treat work may be mentioned, perhaps, as justifying similar aid under proper security ior repayment that 1s,a telegraph line to oon neot Asia with America. The vast aud rich trade of China and Asia geuerally could be turned to and across this continent by that means. In fact, suoh telegraphic oommunl ration is necessary as a complement to the Paotflo Railroad and our steam navigation across the Pacific Ocean. The advantages to this country and to every citizen in it would be incalculable. Besides these two great woiks there is hardly auy thing else to which Corgreas phonld lend its ail in the present state of the finanoes aud of the country. The numerous bills for railroads and other looal Jobs ought to be unceremoniously kicked out. Retrenchment and economy in every depart ment of government should be demanded, aud the current expenses ought to be ont down fully one half before the Fortieth Congress expires. Should Congress be disposed to continue its reckless extravagance, and rush jobs through which are before it at the heel of the session, Mr. Johnson could not end his Presidential term with more glory than to put Lis foot down on suoh legislation. Knowing that General Grant is for reform, the rings will make extraordinary efforts this session, and therefore it behooves the present Execu tive to watch and frustrate their sohemes as far as he has the power. It is to be hoped there may be a better state of things under the new administration and new Congress. General Grant and HI Notations to the i:iil Service. From the 17. T. Time. The holidays are over and the Government machine at Washington resumes its work. Congress reassembles today; the clerks of the various departments will again ba at their desks; and, what is more important than all, General Grant has returned to the capital. For, although he holds no official position but that of an eliioer in the army, and has nothing whatever to do with any branch of the civil administration, no one can fail to see that he is regarded by' the couutry as the central flguie of the whole nation as the pivot on which the Government will turn for a long time to come. There is in the country a widespread feeling of apprehension aud alarm. Eioh eeotion hai, of course, its own special reasous for misgiving and fear. But above and beyond these looal and special apprehensions, there is a general impression that our publio affairs are, on the whole, in a bad way ana mat none nut very vigorous and resolute measures win put them right. We have an enormous debt, and the steps taken to lighten the burdens which it imposes are feeble and inadequate. The col lection ot the vast revenues of the nation is fitful, partial, aud tainted with corruption. Publio service has come to be almost synony mous with publio fraud. The ilea of seeking or tiling office for tue honor it comers or the reputation to be won by an able aud upright performance of its duties, has almost died out of the public mind. Office is sought now as a means of wealth for the opportunities it affords for publio plunder; and the number of men seeking it with such views, and by suon means as are required, is increasing year by year with muntful rapidity. Tue ourse wnioa cripples Spain in her efforts at progress, and which is at once the attendant and preoursor of a cor rupt and deoaying State, threatens ourjyoung and vigorous nation, in spite or our energy and of the boundless field for private effort open to all, we are becoming a nation of poli ticians. An enormous army or oinoe-seekers increaEing in numbers and in audacity is growing up among us, dependent on getting and Keeping the omces throng u wntou the adminibtration of the Government is carried on. And everywhere we find a new development of the ' Ring" power the power by which the tew, acting in close combination, enlisting tupport by the use of money, of position, of patronage, and every form of publio and pri vate influence, virtually oontrol tue action oi the various departments of the Government and compel obedience to their behests. In every branch of effort depending on the action of the Government, and reotmng from it, directly or indireotly, large sums of money, these "rings" are found to be the real au thority. In the Indian .Department, in rail road crants. steamship subsidies, the collec tion of the whisky or the tobacco tax, in the tariff regulations in short, in every form and ohase of DUbllo aotion. mese small, oomnaot. systematic organizations are found at the sources aiiKe or tne legislative ana exeoutive power, shaping and controlling their aotion, and constituting the real, eiieclive government of the country. The disastrous effect of suoh a state of things is ft It everywhere not only in its immediate losses to the publio treasury, but in lowering the tone of publio morals and in degrading and demoralizing the publio servioe. it tends to make office-holding the least respeotable of all positions, whereas it ought to be the most honorable. Whether with or without reason, the oouutry looks to General Grant to remedy this state of things. Ills Integrity or purpose, bis single minded regard for the publio honor and wel fare, and his complete and untiiite disinter estedness inspire a general confidence in his desire to correct the evil, while the unex ampled hold he has on the publio confidence, and the readiness of all classes and all par ties to applaud and uphold him in every effort he may make for the accomplishment of that end, give bim advantages for under taking it which no other President for many years haB enjoyed. The whole country expects to see General Grant enter, at his accession, upon a bold, resolute, and determined crueade against the corinptions and abuses of the Government; and the bolder and more resolute he makes it, the more completely will he be sustained. But he ought not to be hampered or fet tered at the outset in the measures he may deem essential to the work. The Tenure-of-Office bill just as it is in some of its princi ples ought not to stand in his way. It un questionably deprives him of the power he needs for the reforms whioh the country requires. Every deparlir.ent of the publio service is filled by men incompetent for their duties or dishonest in their performance. But he cannot get rid of one of them without the previous assent and concurrence of the Senate. There is no reason whatever why this state of things should eontlnue, nor is there any good reason why the Senate should desire to retain this power in its hands. Under the Constitution, the Senate has a large and im portant share in the Exeoutive pouer of ap pointment. Now that we have a Preuideut iu politioal aooord with the Senate, that body ought to be content with the power it enjoys under the fundamental law of the laud. The Tenure-of-Oflioe bill ought to be re pealed. General Grant should be left entirely free to undertake and exeoute suoh reform in the civil service as its necessities require. If Congress sees the wisdom of making good behavior the sole tenure of office, let it adopt Jenokes' Civil Service bill. But until some general provisions of this sort are adopted, General Grant should have the full power over appointments and removals which the Consti tution gives him. "Let Us Haro l'oace." From the If. T. Tribune. A goodly number of the leading "Conserva tives" of Virginia have been holding a con ference at Kickmond, ana nave conoiuaea inai thev will make no further opposition to im partial suffraga, if oodpled with universal amnesty. When we state that Jouu a. ui-i- win of Augusta, me non. a. it. u. oman (Mr. Fillmore's beorttary or the interior;, Thomas S. Flouruoy (who was the "Ameri can" oandidate for Governor against Henry A. Wise). Vvyudbam Koueriaon. hi.. George W. Boiling, General John Kjuols, James F. Johnson, and Drank U. Ktmin are among those who pailiolpated in this confer ence aud concur lu its conclusions, we say enough to convluoe intelligent mou that the better, and we think the more numerous, por tion of the late Rebels are represented therein. A committee of nine, ohosn iu good part from those named above, was appointed to visit Washington, and solicit action in ac cordance with these views. We profoundly trust that a hearty welcome will be extended to this deputation by the Republicans in Congress. It may be that the plan which they submit will require modifica tions; and we urge that those wuo may see fit to demur to it shall also be aocorded a patient hearing. We only insist now, as we have so oiten insisted already, that the bearers of an olive branch are always to be received with courtesy and heard with an earnest desire to find their proposals admissible, bo much is but the Simplest dictate or that uitu which blesses peace-makers and affirms the essential brotherhood of the human raoe. So much, we cannot doubt, will be freely accorded. But our wishes and hopes take a wider range. We ardently desire to see the whole American people once more unitod in aspira tion and affection. We have had a tremen dous, bloody, desolating civil war. It has covered the whole land with victims and mourners. We would most gladly have averted that war at any eaorifioe but that of human liberty. But slavery said, "Divide with me the federal territories, or I will divide the country agaiust you." The Re public nobly answered, ' 1 will not divide with you the Territories, and you shall not divide the country." On the issue thus made up slavery made war, which the KeDUb- lio accepted, and tought it out to the en l, as it was in duty bound to do. blayery and Rebellion are dead. The integ rity and paramount authority of the Uuiou are established beyond cavil. The very last throe of the Rebel spirit was tli3 effort to con sign the blacks to perpetual vassalage as a legally inferior, powerless race. This we have resiskd and defeated. Tue present action of the Virginia Convention is a natural conse quence of General Grant s election. It will be said that the enfranchisement of the blacks is seoured, no thanks to the con servatives, and that they propose to make terms when they have no course left open save submission. But that is a false conclu sion, founded on a superficial view of the case. It is probably true that we can carry suffrage for the blacks of Virginia over the head i of the conservatives. Bat what is wou by a party victory may subsequently be lost by a pirty defeat; whtrras impartial suffrage, onoe estab lished by agreement between parties hitherto at variance, is placed under the moral guar antee of their mutual good faith, bop pose the enfranchisement of the blacks of Virginia car ried through the disfranchisement of a portion Of the leading conservatives; every vear win see a portion of those conservatives pas3 off the stage, while their sons rise up to takj their plaoes sons fully imbued with their passions, embittered by years of proscription, vet not themselves subject to that proscrip tion; who can fail to see that our defeat and prostration is merely a question of time, and not of long time either ? Virginia has to day a population of about one million of whites to half a million blacks. Iu 1900 she will probably have three millions of whites to less than one million blacks. He who would expose the latter to the reproach of having kept the ablest and most intelligent tenth of the whites disfranchised, or even merely ineligible to office, bo long as they could, may be a zealous friend of the blacks, bnt he surely is not a considerate, discreet one. Of those who took part in the Rebellion, a very large share "went with their State," be cause they deemed it chivalrous aud fraternal to do bo, without at all concurring in the necessity or the wisdom of secession. They went into tire war as they would have espoused a brother's quarrel, without considering the justice of Lis cause so long a3 hia life was in danger. Nearly all these, with thousands of original and repentant secessionists, now eoho General Grant's aspiration, "Let us Lave peace." They have had strife and destruc tion to their hearts' content. They want to stop fruitless wrangling with their neighbors and cavilling at the acts of their Government, and return to building, planting, clearing lauds, and starting mills and factories. They see as clearly as we do that antagonism between the white and black races in their States ia ruin to both, and they mean to have an end of it forthwith. It will be a blunder as well as a crime on our part if their new access of sanity is not generously responded to. We hope to see a Constitutional amendment framed and adopted which will couple uni versal amnesty with impartial suffrage, and make them a part of our fundamental law. Of course, the Republicans of West Virginia, Missouri, and Tennessee will not 'like to be voted down in their respective States, or in portions thereof, by the now disfranchised Uebels; but no more will the now dominant Rebels of Maryland, Kentucky, and Delaware relish the enfranchisement or their black neighbors. No comprehensive settlement of a great controversy ever did or ever can help excitiug some looal grievances, real or imaginary, as in this case. Statesmen will disregard selfish and short-sighted clamor in the contemplation of general, euduring re sults. "Agree with thine adversary oulokly. while thou art in the way with him," is a most wise injunction. Where no vital principle, no dictate of honor or duty, is in volved, he who concedes most to secure an adjustment will do better than though Le higgled and stickled for the utmost that oould possibly be exacted. Friends in authority at Washington ! if it be safely possible, "let us bave peace!' Seeking 11 is Reward. J Jirom "Erick" rometoy't N. Y. Democrat. Benjamin F. Butler, M. C. from Massaohu setts, the Washington despatches have told us, acted the part of toady at President Johnson's few Year reception to a considerable and sig niikant extent. The oonduct of Benjamin F. Butler, M. C , upon that occasion, was the sutject of some comment; and it ia the con elusion amoDg those who have "put their heads together" that the redoubtable hero of loit ruber and the woman order is seeking the assistance of the President to punish some of those holdine Government positions in Alas eachusetts, and who did not assist Bsnjamin F. Butler to secure his M. L. degree. Generally, this will be thongM a very im pudent movement on the part of Butler, but it is really far from it. The uroeeeditiL'S and result of the impeach ment humbug are yet fresU in. the minia of the people of this country. The' part tht mister Butler took in tuoae prnoen iliim is well known, and it i also remembered mat, not withstanding the vindictive feeluu of the members and Senators agaiust the President, a feeling that was cpable of influencing theoi to a severe persecution of Mr. Johuson. he was only saved from couvlotiou because of the utense hatred felt for Butler, who would have been puffed into magnificent proportions had the impeachment trial proved a in ciM. lu order to nip Mister Butler's lofty apir&. ions in the bud, a few of the Smators o mid sacrifice the pleasure of persecuting the Presi dent, and he was aoquitted. To D-tnj iiuln K. Butler he Is indebted for the safety of hU offi cial head, and now that Benjamin has come ior hia reward, it cannot be thought at all im pudent. As a cheeky proceeding It does not approaou the attempt to scure a surrender of Fort Fisher by his powder exploMons, or to envelop INew Orleans In an atmosphere or loyalty by transporting the plate and valuables of the people from the city. DRANDY, WHISKY, WINE, ETC. Y. P. M. Y. P. Mi lorstrs pure milt wiiiskt. lODHU'M PlIBE MA1T WlIIKiK V, VUl'HUS 1'IIBK 9IALT WIIISKT, There la no aunstlon relative to th merits ol fie cclcbrld Y. P. M. Ills Uielnrst quality of NV hitter. nnDu(ciured from Ibe bent aralu Ktlurded bv V jo Phlladei tililn market, and It Isaoid at the low ra'auf 5 per gallon, or tl V per qnart, al ttte salesrooms, Ko. 700 TASSYUSK K0A1), 11 5 2p jiXFHIA. QAR STAIRS & McCALL. Nos. 120 WALNUT and 21 (JHAMTE Sts., IMfORTERS Off iiraudiest Wines, Win, Olive Oil, Etc Etc 1ND OOMMlSaiOW MiSKCHAiV'l I rOB THK WALK OF PU1U5 OLD RYE, WHEAT, AJND BOUll- HOft W111SKIE3. m gQKO&IA WINE COMPANY Established for the salo ol Pure California Wines. Tins CompBDy oiler lor sale pure California Wlnet nun (ATAnil.t, hill KKt, A.NUILICA i. viti:r, l-Ull I . Ml.MTi:i., UlAJIl'AUAK, AND Pl'BE UIl.Vl'K llltAKDV. UVinl.a.lii a t . .1 .D..n .. . i n wa. rani.il to contain ijoiuiiii; uiu mir.. luinn i.. a'Me. u.'l'ot. JNo. sh strept, Philadelphia. HilliN AUUAUN.At.llW, 12 1.1 HOTELS AND RESTAURANTS. 4Q5 CHE8NUT STREET. OLD HYK MOTKL. LUICCH OF VEM-ON. ar.d other Game ir. Strson, i very day from lb,'i to 12 At. 12 91m KOBKRT BLACK. RIDDLE TEMPLE MOTH. AMI It KST.I I'ltAST, Ko. 11C South SIXTH Street. 12 9 lm H. BEISHARD, Proprietor. G EOUGB ZIELLEY, Formerly FitzwaterA Zlelley. Filbert street, above KlgUlU street, has opened Die old Ktand, N. W. COR. THIRD AND WOOD ST3., where tie will be glad to see nis friends. 12 11 lm GEORGE ZIELLEY. Mt. Vernon . Hotel, 8 i Monument street, Baltimore. 1 Elegantly Furnished, with unsurpassed Cuisine. On the European Plan, D. P. MORGAN. GENT.'S FURNISHING GOODS. ESHLEMAN BROTHERS WILL OPEN A NEW STOCK OF Men's Furnishing Goods, AT No. 1004 CHE8NUT Street. OS DlXEHISEIl 15. BelllDB off Old Stock at 12111mrp SKVENTU AND CliESNCT STREETS. Ha 8. K. Ca Harris' Seamless Kid Gloves ETEUt JPAIK WAKtiANTKl), KXCLUtUVJC OK UKMTb' ULOVEU 4. W. SCOTT A CO., 67rp MO. ClltMAUT ftt tttcur. DATENT SHOULDER. SEA HI SHIRT MANUFACTORY, AND GENTLEMEN'S FU11NISUINQ STORE. l.KFtCT SHUUa AM) DKA.Wi.tte while uoui wettiurt-uieiit l vny hon notice. Ail Ull.t-r ttrtlcl.it ot 'l'LKMKtf'ct DKKSb OUOUo Lu lull vriely. WINCHESTER & CO., 11 1 No. 7w CH 0 T atreflt DRUGS, PAINTS, ETC. JOBERT SHOEMAKWR & CO N. E. Corner of FOCUTU aud KACL Ntt., ruuAonxruiA, WHOLESALE DRUCCI8T&. IMPORTERS AND MANUFACTURER! Ol White Lead and Colored I'aluts, I'uitj Vumlbiies, Etc AGKKTS IOR THK CKLKBKATJLD FROCU ZLNC rALNTS. DEALERS AMD OOBBUMKRB SUi'FLJED Al LOWK&T PRICliS FOB OAbH. 12 IS TRUSSES. e-il "Bfc.ELEY'8 IIAKD KUBBF.R TRUSS Ivi. No. 1847 C'lMOUNUT bireek Tula Truu oor re'tly applied will cure and reutlu wllh ease the mod dltucull ruplure; always clean. Unlit, easy, sale, and coiiilortaule, uied in uaililuK, tilled to form, never rusui. breaks, soils, becomes Umber, or uiuves from place. KoalrappluK, liard Rubber Abdominal buo. ixirlnr. bv which Ilia Moiheik. Ooioulnnt. aud Latlliu .uUcrlug Willi Female wiaaiiess, will tlud relief and perincl support; very light, neat, and elti-ctual. put luKirumeias Hlionlaer Braces, Vlatllc H t oik I up fo wi nk limbs, Suspensions, c. Auto, large nock bes IiLer Truaso. bail usual pr.es, LmiXJ l" aiiaa mi, a.i.T FINANCIAL. TUB ItAILV.OAD CO II P. VNY OFFER A LlUltfO AMOUNT OF TILirR First Mortgage Boim13 AT PaR. inc Hundred and Slxtj Miles Or the line Wesbfrom Omaha are no couplet jj, and the vctrlc la going on 'hrougn tne Winter. As the ills lai ce between, tue flu Ishfd po-ilo.i of ib.Uulonand Ctulral Pacltlc Railroads is now less than 4.4) Millet, and bolb Companies ere pnhlng forward tne work lb treat energ, fml.i lug over So on) men, there can te no doubt that the whole tirand Line to the Pacific Will he Open for KhsIiiohm In the Summer Of 1SG9. The regular government Commissioners have pro- Bounced the Union Pacific Rallriad to be FIRST CLAfrS in every reepeot, and the Special OouiuiUMon appointed by the President says: fT.kenaaa whole, TBK UJSION PA OIF TO UlIL ROAD HAS RKKN WELL UONSTRUO TF.D. AND THK OKNH.ua L ROUTK FvR TliH Li WE EX. CEEDIKQLY WKLL SELECTED. The energy aud perseverance with which the wurlc has beeu urged forward and the rapUlty wl U whloh it liai been execnt. d are without parallel In history, and In gran deur and magnitude oi undertaklug It ha never been equalled." The report consludej by saying that the countiy has reason to nou graiolate Itse'f that this treat wo:lc of national Im parlance Is so rapidlv aproachlng trtuple Ion under such favorable auspices." The company now have la use lo7 l ocomotives and ntarlv guuooaisuf allde crip (Ions. A large atidltk nal eq'iipmeut Is ordereJ to be radj in the Spring. The grading la nearly completed, a-;d lies .distributed fur li mile. In advance of the went em end of the track. Fully 120 wiles o' iron lor new track are now delivered west of tue Missouri Rlvpr, ai d 00 mile al re arent route. The total ex penditures lor consfuctlo i purpjies lu advance of the completed portion of the ro d li not ,ti.i man eight million dollars Btsides a donation from the Oovercmeut of 11,500 noes of laud per mile, the C'ouioajyls en Itledio a subsidy In U. S. Bonds on 1 s Hue at complete! and accepted, at the average rat of atnul f.uoi per mile, according to tne dllllouUU's rncotinteied, for which the Government lakea a secoud lien as security. Th Company has already received $24.u78.0U) of thi) aabtld) , belu la ull on the 1U miles fiat have beeu examiucd by the United aUiej Comm'siloners. IJoYcruuiciit AW Security of the Coals. By Its charter, the Company Is permitted to Issue Its own FIRST AIORIOAGE BOJSDS to the same amount as the Oovernment Bonds, ami no more. These Bonds are a First Mortgage upon the whole road and all Its equipments. Such a mortgage npon wual, Ior a lorg time, will b- the only rall;od cou nectli g the Atlantic and Pacific Stales, takes the highest rank as a safe lecuruy. The tarntugs from the wa? or local business lor tue year ending June 30, I&U8, on ' n average of 472 miles, were over FOUR MILLION LOLL ARS, which, after paying all ex penses, were uiUth more than autilcleut to coyer all lntei est liability upon that clitanue. aud the earn ings tor the last live months have been t M.870. They would have beeu grtater It the toad hd not been taxed to Us utmost capacity to transport its own material for construction The Income from the great passenger travel, the China freights, aud the supplies for the new Rocky Mountain States and Ter ritorles, must be ample ior all Interest and other lia bilities. No political action can reduce the irate of interest. It mast retrain for thirty years (c per cent, iierannvm In gold, now equal te between eight and nine per cent, in currency. The principal is then payable in gold. If a bond wltb such guarantees were Issued by the Government, lis market price would not be less than from 20 to M per cent, premium. A these bondsare Issued nnder Government authority and supervision, neon what ia very largely a Gov ernment work, they must ultimately approacu Gov ernment prices. Tee pr'ce for the present li PAR, Subscriptions will be received in Philadelphia by DE HAVEN & BRO., No. 40 8. THIRD Street. WM. PAINTER & CO., No. 86 S. THIRD Street, And In New York AT THK lOHPANI'i OFFICE, No. M NASSAU Street. AND BY joiim J. Cisco mt sos, it asueuv. No, 69 WALL Street, And by the Company's advertised Agents through, oat the United States, Bonds sent free, bnt parti, a subscribing through local agents will look totoem for tn.lrsafe delivery A NJtW PAMPHLET A NO MAP WAS ii-tUED OCTOBER 1, containing a rep rt or the progress of the work to that date, and a more complete state ment In relation lo the value of the bonds than oan be given lo an advertisement, whleb will be sut fro on app lcatloo at the Company's olllcea, or to auy of the advertised ageuta. JOHN J. CISCO, TKEASCBKR, NEW TORS, Jan. l.'lf. UUthsiulm U P OK N 8 UNION PACIFIC RAILROAD, CENTRAL PACIFIC RAILROAD 5-20s and 1881s, DUE JANUARY 1, AND GOLD, W A N T E D. Dealers In Govern incut Securities, No. 40 SOUTH THIRD STREET, FINANCIAL. No. 35 South Third Street, PHILADELPHIA. DEALERS IN GOVERNMENT SECURITIES, STOCK, COLD AND NOTE BROKERS. A(.""Miitti of Iln1;, Kir ins, aud lnUmtluaU ructea, iuljw tt clfck at ft. glit. INTKKKSr AIXOWKD ON BALANCES. General" Acents, FOR $n, PENNSYLVANIA fiia HEW j&Z; or the UNITED STATES OF AMERICA. The Nation-af, T.irr? Insitranck Company Is a rorponitlmi rhnriorcd hy Hiieciiil Act of Congress, np ro ri July , IMS, with a CASH CAPITAL, $1,000,000, FULL PAID. T.ilx rnl forms oflV-red to Agents and Solicitors, whe rn invited to apply tit our ollioe. Kull iim tlciiliirs to be lmd on application ntonrolTIre, InrutfMl In the m-rond Htory of our Kmiklnir Homo, rvlnMe Clrciiliirs mid I'muplilntM, fully describing Uia tUvuntHgcs oll'cred by the Compnuy, niny be hud. K. W. I.AICK V CO., Ao. 85 South Third .Sg. Union Pacific Railroad. WE ARE SOW SELLING! The First Mortgage Gold In terest Bonds OF THIS COMPANY AT PAR AftD INTEREST, At TTblch rate tbc bolder or GOVERN MENT SECURITIES eaa make a prov able exchange. COUPON'S due January 1 CASHED, or bought at full rates for Gold. WM. PAINTER & 00.. BANKERS AMI DEALERS IN GOVERN MENT SECURITIES, No. 36 South THIRD Street, ; t PHILADELPHIA. gTERLir.C & WILDMAN. BANKEKS AND BROKERS, No. 110 South THIRD Street, AG K NTS FOB SALE OF First Mortgage Donds of Rockford, Roc Island, and St. Louis Railroad, Interest VI N PER CENT., dear ot a'l tax payable In GOLD Augutl ana February, for sala 07 H and accrued Interest In currency, aIho First Mortgage Bonds or tiie Danrille Ilazleton, and Wllkesburre Railroad. Interest SEVEN PER CENT., CLEAR OF ALL TAXES, payable April ana October, for tale at Sit and accrued Interest Pamphlets with tuaps, reports, and fall Information or these roads alwa on hand lor diatribe loo. DEALERS In UoTernment Bunds, "old, Bllrer Oupona, eio. bTOCKt of all kinds borrht and sold on comm.s Slon In Mew York and Phaauelpnla. 11 y tutna gAN KIN G HbU S S OF JayCooke&p. Nos. 112 and 111 South THIRD Street, PHILADELPHIA. Dealers In all Gorernment Securities. Old 6-20s Wanted In Exchange Tor New. A Liberal Difference allowed. Compound Interest Notes Wanted. Interest Allowed on Deposits. WLLEoTIOMB MADE. BTuCKS bought and sold On Oommlulon. Kpeelal buslneaa accommodations, reserved lor ladles. We will recelv" applications for Potlolea of Life Insurance In the National Life In.ararse Company of the United Staiea, Full Information given at oar ofUoe. 118m lhnlfrs In United States Bonds, aud Mem. hers of Stock and Hold Exchange 1 Receive Accounts of Ranks and Bankers on Liberal 'IVrms, ISSUE BILLS OK EXCHANGE ON I C. J. HAMBRO & 80N. LONDON, B. METZLER, 8. 80IIN i CO., FRANKFORT JAMKS W. TOCKKR & CO.. PARI8, I ind Other Principal Cities, and Letters of Credit ATallalile Throughout Enroic. S GLEMNNIE, DAVIS & CO.) No. 4S South TIIIU1 Street, PHILADFLPHIA. GLENDIHHIKG DAVIS UIORt No. 3 NASSAU Nt., Neiv York BANKERS AM) BROKERS. Direct telegi aiihic conuniiiilcatiou witfi' the New Y:rk Stock Boards from tli Piilludtlrhia t'lilcc, ., . .. i
Significant historical Pennsylvania newspapers