THE DAILY EVENING TELEGRAPH PHILADELPHIA, THURSDAY, FEBRUARY 10, 1870.
srznxx or tot muss.
Editorial OpInUae ef tho 1imIIiiT Jn
Upon Carroii t Tplca-!mplled Ktiwt
Dai tr the Bla Telocrapb
THE BARRICADES.
Pram the Jf. F. Tribune.
raria has again, after nineteen years panse,
ruabed to the barricade. Upon.the arrest of
M. Rochefort, a multitude of his friends
raised the cry of revolt on a signal from M.
Quatave Flourens, who declared that immrreo
tion had began. Forthwith, Tans with its
old fnrr began to tear np its streets and turn
oyer its ouinibuees, and to make at least
everal quarters of the city a soene of war.
Belleville and La Villette, and the neighbor
hood of the Montmartre, were chosen for its
demonstration. Upon this part of the city
the lavish genius of Baron Haussmann for
pending the money of Frenchmen in order
to make it a greater architectural possibility
to shoot them down, has not been folly exer
cised. The world is not surprised to hear that the
Parisians hare attempted insurrection, nor
will it be astonished to hear that the attempt
baa been suppressed. The one hundred thou
sand soldiers whom Napoleon knows how to
turn in upon Paris at a moment's notioe
ought to be competent to make him master
of the situation. Curiously, their number is
just the same as that wherewith a usurper
one bloody December overthrew the liberties
of Franoe. It is the fatal number of the
coup d'etat. Looking back upon the day
when fraud reared its throne upon massacre,
no man oan predict that Napoleon will be
more meroiful now than then, if only
bis bayonets are firm and bis well-traiaed
uoldiers are provoked. It is impossible to forget
at this time that Napoleon perpetrated one of
the oruelest, most sweeping slaughters of a
teople and its liberties on record. He did it,
t is true, in the name of the people, as Dan
ton, Robespierre, and other less sagacious
atudents of Frenoh nature had done before
him. All that we need remember just now is
that he did a dishonest act in a murderous
spirit. It was not his fate to be upright, to
love life more than its sacrifioe, and his
country more than himself, but to serve the
baser part of the country whieh he debased.
Like all men of exceeding ambition, his sel
fish genius helped to create the necessity
whion he made his exouse for perjury and
Slaughter. How much he has expiated the
erime of December by holding France, with
the permission of Providence, under his able
Sway, it is for Frenchmen to judge.
There will be a variety of contemptuous
comments on the latest phase of opposition
to Bonapartism; yet we imagine that Roche
fort and his partisans have advanced a step in
the respect of those who are disposed to
esteem a thousand tarn culottes with arms in
their hands more than a lonely man eating
firison fare or the bread of exile. The Mame
ukes of the French press, and the flunkeys of
the English and American press, had a
chance to show their instincts when a citizen,
of Paris was murdered by a prince for chal
lenging a Bonaparte. Now Paris in despera
tion challenges another Bonaparte. Will he,
too, murder his fellow-citizens if they exoite
him? and then, what will the flunkeys say ?
This latest demonstration id likely enough to
he quieted till the next day of crisis, till
Ihn next dav of weakening and disintegration.
For the present it will serve to bring back to
the mind of i ranee a bloodier event than
this oan possibly be the terrible deed of De
cember, 1851. tin that occasion one regiment
alone slew 2400 men, and the fatal one hun
dred thousand committed, according to the
historian of the period, nine different species
of slaughters, including that of the massaore
of non-combatants in cold blood. The Empire
.cannot now surpass its masterpiece. A people
who have had Robespierre and Marat, and
Danton and Mirabeau, could hardly expect to
get along without Louis Napoleon and M.
Rochefort; but let ns above aU remember the
Frenoh people. Barricades mean now as
ever that life in Franoe is cheap, more or
leas, and that government is dear.
PROTECTION DOOMED.
.From the N. F. World.
We copy the following statement from the
Tribune:
"The free-traders made an earnest demonstration
In the House yesterday under the lead or Mr. Mar
ahall (Dem.), of Illinois. They were squarely met
by a motion or Mr. Reiser, of this State, to lay on
the table, and beaten by 89 to 77, and, on reconsi
deration, by 91 to 80. They had nearly or quite
every Democratic vote. Including these of Messrs.
Jlaldeman. Getz, Reading, Stiles, Van Auken, and
Woodward, of Pennsylvania (Randall absent or
dodging). Mr. Barnum, of Connecticut (Dera.), was
likewise silent. We believe no Republican from any
Xaatern State voted against protection."
The Tribune seems to exult in the fact
that no member of its party from any Eastern
State voted against protection. Its exulta
tion is as foolish as it will certainly be short-
Jived. .Even with the advantage oi an un
broken front by the Eastern Republicans, the
protectionists had a majority of only 11 in a
total vote of 171.
Assuming this 'to be the present relative
strength of the protectionists and free-traders
in the House of Representatives, it is easy
to see that protection is on its last legs, and
will fall prostrate immediately alter the next
census, which is to be taken this year,
"Within the last ten years the population of
the East has remained comparatively station.
ary, while the West has been advancing at a
prodigious rate of growth. In the new ap
portionment of Representatives founded on
the census about to be taken, the Eastern
fttates will lose, and the Western States make
larae cams. As soon as the West is repre
Routed in Congress in proportion to its popu
lation. the era of high tariffs will end. The
protectionists have even now a majority of
only eleven, and the new apportionment will
at once change it into a majority at least
thrioe as creat on the other side.
Nor will the gain to the free-trade side
come wholly from the West. The relative
strength of the South in Congress will be
onnuiiiMTAhlv increased bv the new apportion'
ment. and the South retains its old hostility
to protective tariffs. In oonsequenoe of the
abolition of slavery, the South will be entitled
to representatives for the whole of its negro
population, instead of three-fifths of it whioh
was the rule previous to emancipation. It
was not till after tho Southern Senators and
Representatives withdrew from Congress, in
tno winter before the war, that the protec
tionist were able to pass the Morrill tariff,
With the South again represented, and both
the West and the South laroelv strencthened.
protection will be repudiated by majorities
which will nfake the editor of the Tribune
stare and eanp.
The preponderating publio sentiment of
both the creat agricultural sections tha WahI
and the South is decisively in favor of free
trade. If protection were the true polioy, it
would be lor the advantage or the Went to
have the Erie andWelland Canal, filled ur. tho
creat railroad lines whioh connect it with tha
Atlantic coast destroyed, and intercourse with
the outer world obstructed by elevating and
extending the Allegheny range of mountains
tuitil they formed a complete barrier to inter-
-. ... , a
effectually do the work of a protective tariff, I
by giving the manufacturers of the West a
monopoly of the home market. But the West
has always aoted, and will always continue to
act, on the idea that free and cheap inter
oourse with the outside world is the main ele
ment of its prosperity. Their aeotion Has
been developed in proportion as means of
intercourse have been multiplied. lhey
have always felt that the greatest of their
wants is easy access to distant markets; and
it is all the same to them whether intercourse
is obstructed by physical barriers or dv pro
tective tariffs, the operation or bota Doing
PrTheechiefk?ndnstry of the South admits of
no protection. There is no part of the world
which can compete with it in the production
of cotton. The South prodnoos this great
staple in such abundance that it supplies tne
consumption of a great part of the world.
This bounty of nature, this unrivalled advan
tage df soil and climate, wouia do oi compa
ratively little value without free aooess to
other markets than our own. When you talk
to the Southern people about the necessity of
protecting home industry, they will deride
you. Don vuoy noun m wvu u uwu
England, will industry be employed and pro-
tected by compelling mo amp so ouiuo unu&
in ballast, instead of earning treigbta on a
return cargo of manufactured goods ? Will
the shippers of the cotton be proteotod or
benefited by paying fifty per cent, duties on
the return cargo, and losing that proportion
of the fruits oi their industry r xuegoous
which they import in exchange for their
cotton are as much a produot of home in
dustry as are the same kind of goods mann-
. a e W . . A j JS
factured in this country, 11 Beven.y nauua
emnloved on a cotton plantation can bring
into a New York warehouse as much cutlery
as a hundred hands employed in making cut
lery in the United States, there is no sense or
tustice in taxing the plantation labor for the
enefit of the factory labor. They are equally
home labor, and the country is most benefited
by that which yields the largest returns in
consumable articles. At any rate, a policy
will never find acceptance in the South
which prevents Southern industry from re
ceiving the full price of its produots. And
with the South and the West combined in a
solid free trade phalanx, the days of protection
are numbered. Its total overthrow will
speedily follow the reapportionment under
the census of this year.
KICEETTY
LEGISLATURES
IN THE
SOUTH.
From the If. T. Herald.
The reconstructed Legislatures in the South
are not a source of pride to the Republican
party. Ben Butler himself could not look
upon them and say truly, in his benevolent
way, "Bless ye, my children." Greeley no
doubt execrates and curses them in his heart
f hearts, while Sumner alone, whoBe heart
delights in war and strife, may be able to
look on with inward satisfaction. The
Louisiana Legislature is engaged, it would
seem, in a general game of grab. The Gov
ernor, from his own statement, seems to be
the only honest publio official in the State,
and he is so nnexceptionally honest that he
refused one hundred thousand dollars in bribes
merely for signing bills. The dusky mem
bers, besides, have licensed all sorts of Sun
day games, of which Southern darkies are
so fond, until it is reported that the prin
cipal streets of New Orleans are lumi
nous with signs of "Faro, Keno, etc,
Played Here. In the Florida Legisla
ture the little game of impeachment has
been played again, the Governor being the
party on trial. Ha was acquitted, but he
telegraphed immediately to his representative
in Congress to say that all the Federal radical
office-holders worked solidly against him. The
Alabama Legislature, with a heavy carpet-bag
majority, baa been quarrelling with the liov
ernor over the proper mode of spelling; the
North Carolina Legislature and her Governor
and Auditor, between them, have placed the
credit of the State in danger; Mississippi
threatens to put the Senatorial radicals in a
dilemma by sending a colored member to the
United States Senate; the Arkansas Legisla
ture and Governor Clayton had to carry on a
guerilla warfare for months before they could
secure their positions, and Georgia well,
when we speak of Georgia even Philosopher
Greeley s capacity for swearing fails to do
justice to the subject.
'Ibis is a very poor showing for lour years
of reconstruction. The system pursued by
the radicals aimed especially at bringing the
States back so thoroughly Republican that
they would never give ns any more Demo
cratic trouble. But even this has not suc
ceeded. The States are only Republican for
the moment. The present Legislatures are
onough to blot out all the Republicanism in
the bouth, and the radical leaders in Con
gress seem to know it, for they have tried to
patch Virginia together so as to be sure of
her, and are still trying to patch Mississippi
in the same way. In fact, the whole recon
struction system has resulted in a thing of
shreds and patches that the radicals cannot
trust. They fear that Reed, of Florida, is a
broken Reod; that the radicalism of Smith,
of Alabama, is mythical; that Holden, of
North Carolina, does not feel much beholden
to the party; that Bullock, of Georgia, is
likely to gore his own friends, and that War
mouth, of Louisiana, like Dawes, is talking
too much out of school.
RELATION OF TARIFFS, IMPORTS,
AND CURRENCY.
from th JT. T. Tribune.
Senator Fenton, in his speech on the Cur
rency bill, delivered on the 2"th of January,
places great strew upon the remarkable con
currence ox tne quantity or foreign imports,
and the amount of the currency in circulation,
as tney are Bnown in our financial ana com
mercial history, furnishing statistics in proof
of the close connection in the two most nota
ble periods of expansion immediately preced
ing the revulsions of 1837 and 1857. In his
tabular statement he embraoes both circulation
and deposits, and his imports also embraoe
specie. Even with thia complication his
figures sustain his general averment that
there Is a close relation between our imports
ana tne volume oi our circulation, wnen no
such causes as the necessities of the Treasury
in war and the recent vast exportation of
publio securities disturb the affinity between
them. ,
The relation of concurrence has hold won
derfully in our experience from the close of
our last war with Great Britain to the begin
ning of the Rebellion; but the Senator, we
think, is somewhat in error in holding that the
expansion of the currency is the cause of, or
precedes, excessive importations; and espe
cially in error in saying that "the bearings of
the tariff do not touch this point." We pro
pose to show, on the contrary, that, from the
year 1828 down to 1800, through the periods
of two protective and two free-trade tariffs,
in regular alternation, flint, that the rates of
customs duties rule the volume of the foreign
imports; second, that the volume or value of
the imports rules the amount of the currency
and all its consequences; and thirdly, that
course, trach obstruction and isolation wouia I
t i ) t 1 - l i
tablixh the precedence of the foreign imports
in the concatenation of oansos and effeots
throughout all the gTeat changes in our
economic affairs.
In the treatment of the question, we shall
exclude the specie aocount from the imports,
and the bank deposits from the currency.
The inclusion of the specie imports through
a period that overlaps the disoovery of pre
cious metals in California, and the treatment
of deposits as currency, complicate the ques
tion unnecessarily, though it happens that
doing so does not materially vary the results.
First, of the relation between the value of
the foreign imports and the amount of cur
rency in circulation, under our two highest
and two lowest tanns prior to lMiO (the
amounts in millions and tenths of millions of
dollars).
TlfDBR TH TARIFF OF 1828 AND Til AT OF 1841.
1829, "80, '81, '82 Average yearly Imports, 180-x;
average bank notes, 101-0.
1S48, '44, '4(5, '48 Average yearly Imports, $1001 ;
average bank notes, 8n.
INDKR COMPROMISI TARIFF OF 1833 ANDTHATOF 1887.
1884, "85, '86, '87 Average yearly Imports, iw ;
average bank notes, tll'i-0.
1807, '68, '69, '60 Average yearly Imports, 1324-s;
average bank notes, I19.-6.
Average consumption of Imports and average bank
note circulation per capita (In dollars and cenu).
CKDBR TARIFFS OF 1929 AND THAT OF 1843.
1829, '80, t, '32 Average consumption, isil:
lma, '44, '4S, '46 Average consumption, tt-ts;
average circulation, $418.
CNDBH COMPROMISI TARIFFS OF 1833 AND THAT OF
1837.
1884, '88, 86, "87 Average consumption, I9-66;
average circulation, 1746.
1867, TW, '69, '60 Average consumption, f 10-40;
average circulation, 16-43.
Averages are always inaoourate, more es
pecially in matters subject to great fluctua
tions. Sometimes, where errors of brevity'
and clearness of statement can be afforded,
as in the present esse, they may be adopted,
though they have the vice of leveling fluctua
tions, which are the strongest features of the
matter in hand.
Lot us look at shorter periods in whioh the
contrasts of the systems of duties and the
concurrence of the effects are still bolder,
and so much the more just as they are nearer
in cause and enect:
In the years 18110, '31, '32, the foreign im
ports retained for consumption aggregated
$207,700,000; the note circulation stood at
$61,000,000; the total duties upon the im
ports averaged 32 per cent. In the years
183.5, '36, '37, the aggregate imports for con
sumption rose to $314,100,000; the circula
tion, at the highest, $149,000,000; and the
total duties were 22 per cent. Here we have
the imports increased 50 per cent., the duties
reduced CO per cent., and the average circu
lation nearly doubled. Then came the revul
sion of 1837 of imperishable memory.
Again the aggregate imports for consump
tion in the years 1831-5-C, were $312,000,000,
the circulation $90,000,000, and the average
duties 2!'2 per cent.; but nine years later,
under the tariff of 1840, the imports rose in
the aggregate of the years 1855-6-7 to $860,
800,000; the circulation .to an average of
$l'J!t, 000,000, and the duties on the duty.
paying goods were down to 234 per cent.
Whereupon followed the revulsion of 1857.
Here again, after a lapse of nine years, three
times longer than the interval of the former
periods contrasted, for which allowance
should be made for the greater growth of
wealth and population, we have an increase of
the imports of 175 per cent, and a corre
sponding increase of the circulation of 121
per cent., with average duties 25 per cent,
lower.
Here again the ineradicable vice of general
averages appears. The duties upon woollens,
cottons, hempen goods, iron, and manufac
tures of iron, in 1844, 15, '0, were 384 per
cent., and in 1855, '6, '7, only 272 per cent.
a reduction in the protective duties on goods
which covers almost the entire system of
American protection of 41 per cent., instead
of the 25 per cent, of the general average
upon all imports; none of whioh are important
to our industry except those charged at the
highest rates. '
The California gold, the Crimean war, and
our freedom from extraordinary expenditure,
lengthened the run of the tariff of 1846; else
we should have had its catastrophe earlier,
and the proportion between the circulation
and the imports still nearer. The critioal
years of our financial history best show the
connection between excessive imports, ex
panded currency, low tariffs, and the result-
1 i i 1. 4 1. 1 OIP
o,rd78
induration and seventy, snow equally well
the dependence of all our errand explosions
upon the foreign trade as their real primary
and efficient cause, and the low tariffs ruling
at the times being the predisposing causes of
all the mischief.
As a starting point a standard it is to be
noted that in the two years 1831 and 1832,
under the high tariff of 1828, tha imports
amounted to $158,000,000, and the circulation
stood at $ 01,000,000. Now, in these two
years, the sales of the publio lands and the
receipts from them averaged $2,900,080 per
annum, and $2,000,000 were the average for
the seven preceding years, varying but a
trifle in any year from 1824 to 1830. In 1833
the Comprorniae act was passed. It began by
its first reduction of customs rates in 1834,
and displayed its full foroe in 1835 and 183C.
In these two vears the imports rose first to
$122,000,000 in 1835, and then to $158,900,
000 in 183G an increase of 77 par cent, in
three years, which was followed by a reduc
tion of 40 per cent, in the next two years.
In those two years, the sales of the publio
lands went up, in 1835, to $14,700,000, and
in 1830 to $24,800,000; the circulation more
than doubled, and the publio land sales in
creased to thirteenfold above all precedent.
and fell immediately thereafter to their old
average, until 1855 brought them np again to
$11,500,00, in preparation for the revulsion
of 1857. It must not be forgotten, that, so
soon as the protective tariff of 1842 came
into operation, beside the reduction to the
old standard in these sales, the imports also
fell back to $100,000,X)00 from $159,000,000
in 183C, and the circulation to $82,000,000
from $149,000,000, in 1837.
Here is a relation, striking, positive, pal
pable, and so interlinked with tho imports
and the circulation, that an explanation of
either must embrace them all. Do not these
inseparable facts explain themselves f And
what other solution than this can be offered ?
Inadequate protection induced exoess in im
portations; these demanded, nnder our busi
ness syBtem, first, large advances from the
banks to meet the customs duties and pay
ments abroad by the importers; for the bal
ance of trade would be against ns in propor
tion to the excess of imports. Next, tho
wholesale dealers must have credits in keep
ing with the increase of their purchases; then
the jobbers of the lesser cities; and, lastly,
the retailers all over the country tho oredit
system ruling from three months to a
year among dealers, and running, in tho
main, longer with tho consumers; pay-day
falling earlier with every grade of merchants,
and requiring greater punctuality than oould
be commanded from the last - purchaser.
Every one knows that merchants, upon dis-
certain ouier nnanoiu jmeuoinoc. oieariy e.
counted and accommodation paper, are the
favored customers of the banks, for the rea
son that the penalty of suspension and bank
ruptcy greatly corroborates their oredit with
money institutions. Banks do not lend on
real estate securities. Speculative prioes do
not begin there; and the moment that the
tide of import sets in at low prices, the credit
of manufacturers is shaken Agricultural
lands and produots do not rue till money is
cheapened by its abundance. Bank credits
must lead in the tine of domestic property
and products; and what leads the bank oredits
if it be not the demand made by the dealers
in foreign commodities when they take pos
session of the home markots ? These credits,
aa we have said, are multiplied at every stage
of the subsequent sales of the imports; and
this doubling, trebling, and quadrupling of
credits upon the principal stook accounts
fully for that expansion of tha circulation
whose connection is invariable, both in rise
and fall, aa we have seen.
But if any doubt remiins about tha primal
agency, it is all removed by the working of
our publio land sales in the times when they
were sold for money by the Government.
What but an influx of foreign fabrics could
drive capital and labor from the Eastern to
the Western States and Territories in sudden
and enormous overflow ? Low tariff duties,
a flood of goods from abroad, and a rush from
the manufacturing States to the prairies, work
their effects upon the treasury; first producing
a gorge of the national fund, then national
bankruptcy straightway. This in the chain of
sequences; and thus tha first link is found in
the failure of our tariffs to preserve the labor
of the nation from invasion. Senator Fenton
may be, or he may not be, right about "the
relation of the volume and value of the cur
rency," but he is not right in tracing the im
ports to the currency of the country. There
are enough of other agencies at work, and
they are abundantly sufficient to explain the
excess of imports from which we are now
suffering in every department of domestio in
dustry, and in none so much as in the farm
ing interest, which, curiously enough, is at
once calling for an expansion of bank money
and a reduction of the tariff rates.
One word more upon our present enormous
imports from Europe. In the last three and
a half years we have taken about a thousand
millions' worth, and they have taken our
bonds to the like amount at a nominal value
for the price of the goods. Those bonds they
have at rates ranging from say 70 to 94 cents
on the dollar; at tho highest about even with
the British consols, and the general rate of
three per oent. funds in those parts of Europe
which supply the great bulk of onr imports.
In current productive value our six per cents
are worth about one hundred and eighty for
the hundred. Need we look any further for
the cause of the great influx of goods which
are charged with duties that do not in faot
approach fifty per cent, in effective averages?
Tho stupid general average which puts the
rate above 49 per cent, under the present
tariff, when stripped of the enormous rates
upon tea, coffee, tobacco, and sugar, whioh
Europe does not produce, would show that
our manufactures in general are not covered
by quite 40 per cent. But our bonds are now
paying to the foreign holder the normal
European interest upon one hundred and
eighty dollars for every hundred that they
cost him. He can afford to send his goods
hereunder an impost charge of less than forty
upon the hundred.
It is not what we are paying for these
goods, measured by our currency or our gold
standard, but what the foreign produoer is
receiving by his standard of money value,
that his Bales are governed by; and the condi
tion of onr home currency gives no help in
solving the commercial question. Reduce
our purchases abroad to harmony with our
home industry, and if experience may be re
lied upon, the regulation of the volume of
our paper money will follow. Without this,
either bank notes, bank credits, or some
other form of currency will keep the virtual
circulation up to the demand. Legislation
must deal with causes, and take care not to
mistake effects for them.
WINE8 AND LIQUORS.
HER MAJESTY
CHAMPAGNE.
DUNToxr & z.TJsson.
! 215 SOUTH FRONT STREET. j
TBE ATTENTION OF TOE TRADE IS
aolicitad to th following vary Oboioa Wine, ato,
for Ml br
D UNTO IV LTJ8SON,
815 SOUTH FRONT STREET.
OHAMPAGNK.8.-A rent for bar Mkjertr. Dna d
Monlebello, Carta Bleus, Carta Blanche, ana OUarlet
Farre'a Grand Vm Kuueoia, and Vin Imperial. M. Klee
man A Co., of Hayenoe, bparklinc Moselle and RiiiNK
MINKB.
M ADR IRA 8. Old bland. South SideReaerre.
bUKKRIKW. F. Budulpbe, Amontillado, Topaz, Val
letta, Palo and Golden liar, Oi own, etc
PORT 8.- Vinho Velho Real, Vallette, and Grown.
OLAKKT8. Promia Aine A Oie.. Montferrand and Bor
deaux. UUreta and hauterna Winea
GlN.-"Meder8wan. . ,
h H A N D 11U4. -U Bun ewe, Otard, Dupojr Oo.'a Tarioaa
Tintaaee.
fl AR8TAI116 & McOALL,
Voe, las WALNUT and 31 GRANITE Street.
Importer, of
BRANDIES, WINKS. GIN, OLIVE OIL. ETC.,
ND
COMMISSION MERCHANTS
For the Bale of
PURR OLD ETE. WHKAT, AND BOURBON WHIS.
K1K8.
5 88 tHA
CAK STAIRS' OLIVB OIL-AN INVOICE
of . abor. for aal. '"q A R 8T A IRS 4 MoOALL,
i88p Noa. 186 WALNUT and 111 UKaHllK fata.
ANDERSON & CO., DEALERS
TUILLIAM
TV In Via Walaklea, .
North SOOOND 8 treat,
FhUadeluU
GOODS FOR THE LADIES.
G
HAND 01LNI
SPRING FASIIIOIVS
or
IK
imponru -
TUESDAY, MARCH 1, UTO.
Tha old eeUbliabed and only reliable Paper Patter.
Dreea and Cloak Making Emporium.
Drawee made to At with aaae and elefanoe la u hoora
iioe.
MBS. M. A, BINDER'S recent visit to Paria enables
her to receive Fashions, Trimmlnts and Faaor Ooode
superior to anything in thia country.
Mew In design. Moderate In price.
A perfeot system of Drees Chitting taught.
Gutting, Basting, rinsing.
Fashion Books and Goftertng Maehinea for sale.
Sets of Patterns for Merchants and Dress Mskers now
ready, at
MRS. M. A. CINDER'S,
llOl,
U. W. Corner Eleventh and Chesnut.
Carefully note the name and number, to avoid bsing
deoeired- Mstnthi
R. M. KLINR CAN CURE CUTANEOUS
K option Marks on the Skin, Ulcers I. the Throat.
Mouth, and Nose, Kore Legs, and Korea of ever conceit..
bleohaVarter. Ortioe. No. S b. KLKVKNTU. between
CUiesoul and Market streets,
TINANOIAI-.
IN" 322 W LOAN.
City of Allegheny Six Per
Cents,
FREE OF STATE TAX.
We are offering a limited amount of this Loan
At 90 rcr Cent, and Accrued
Interest.
The Interest is payable first davs of January and
July, In Philadelphia, FREE OF 8 TATS TAX.
We recommend them as an unquestionable se
curity for investment.
The debt of Allegheny City being comparatively
mall, the security offered Is equal to that of the City
of Philadelphia, the difference m price making them
a very desirable and cheap security.
WM. PAINTER & CO.,
Hankers and Dealers in Govern,
ment Securities,
No. 36 South THIRD Street,
1 86 sm
PHILADELPHIA.
B
A IV K I n u
II o v s IS
or
JAY COOKE & CO.,
Nos. 113 and 114 S. THIRD St.,
PHILADELPHIA.
Dealers In Government Beeurttles
Old 6-lOs Wanted In Exchange for New.
A Liberal Difference allowed.
Compound Interest Notes Wanted.
Interest Allowed on Deposits.
COLLECTIONS MADE,
on Commlaaion.
STOCKS bought and sold
Special
ladies.
business accommodations reserved for
We will receive applications for Policies of Life
Insurance In the National Life Insurance Company
of the United States. Full Information given at our
office. 1 1 8m
JOHN 8. RUSHTON & CO.,
No. 50 SOUTH THIRD STREET.
JANUABY COUPONS WANTED.
CITY W ARn ANTS
losm
BOUGHT AITS SOLD.
pa 8. PETERSON & CO..
Stock and Exchange Brokers,
NO. 39 BOUTH THIRD STREET,
Members of the New York and PMladelptua
and Gold Boards.
BTOCKB, BONDS, Etc, bought and sold on oan
mission only at either city 1 861
J
LLIOTT
U IV IV,
BANKERS,
No. 109 SOUTH THIRD STREET,
DEALERS IN ALL GOVERNMENT SECURI
TIES, GOLD BILLS, ETC
DRAW BILLS OF EI CHANGE AND ISSUE
COMMERCIAL LETTERS OF CREDIT ON THE
UNION BANK OF LONDON.
ISSUE TRAVELLERS' LETTERS OF CREDIT
ON LONDON AND PARIS, available throughout
Europe,
Will collect all Conponi and Interest free of charge
for partiea making their financial arrangemenu
with ua. i
D
U I! X E L 4c CO.,
No. 84 SOUTH THIRD STREET,
American and JToroIffn
BANICERS,
ISSUE DRAFTS AND CIRCULAR LETTERS OF
CREDIT available on presentation in anj part of
Europe.
Travellers can make all their financial arrange,
menu through us, Md we will collect their Internal
and alTldenda without charge.
DUMAL, WlKTHBOr A C0.,DUXIL, EaXTXa A 09,,
NewYortc I P til
FIN ANOI AU
CITY WARRANTS
Bought and Sold.
DE HAVEN & BM,
No. 40 South THIRD Street,
6 lli
FHILAD&LPHIA.
THE BEST IIOMK INVESTMENT.
FIRST MORTGAGE 8 INKING FUND,
SEVEN PER CENT. ClOLD BONDS OF Till
FREDERICKSBURG AND GORDONSVILLE
RAILROAD COMPANY OF VIRGINIA.
PRINCIPAL AND INTEREST PAYABLE IN COB,
JFREE OF U. S. GOVERNMENT TAX.
The road la sixty -two miles long, and forma the
SHORTEST CONNECTING LINK
In the system of roads leading to the entire South,
Southwest, and West to the Pacific Ocean.
It passes through a rich country, the local trade f
which U more than enough to tupport it, and as It has
three Important feeders at each end, Its throng,
trade will be heavy and remunerative.
Maps and pamphlets furnished, which explain
satisfactorily every question that can possibly be
raised by a party soeklng a safe and profitable la-
vestment.
The mortgage U limited to 16,000 per mile of com
pletei and equipped road, and the Security
IS FIRST-CLASS IN EVERY RESPECT.
A limited number of the Bonds are offered at OTtf,
and interest from November 1, in currency, and at
this price are the
CHEAPEST GOLD INTEREST-BE ARrNQ SECU
RITIES IN THE MARKET.
SAMUEL WORK, Banker,
I lthratf No. 85 South THIRD Street.
Qln DINNING, DAT1S A CO.,
No. 48 SOUTH THIRD STREET,
PHILADELPHIA.
GLENDINNING, DAVIS & AMORT,
Ho. 17 WALL STREET, NEW YORK.
BANKERS AND BROKERS.
Baying and selling Stocks, Bonds, and .Gold en
Commission a Specialty.
Philadelphia house connected by telegraphic wlta
the Stock Boards and Gold Room of New York. 18
B. K. JAMISON & CO.,
SUCCESSORS TO
X. F. KELLY & CO.,
BANKERS AND DEALERS IN
Gold, Silver, and Government Bonds,
At Closest Market Rates,
If. W. Cor. THIRD and CHESNUT Sts,
Special attention given to COMMISSION ORDERS
In New York and Philadelphia Stock Boards, etc.
eta 1 841
CITY WARRANTS
BOUGHT Aim SOLD.
I C. Ta YERKE8. Jr.. & CO
SO. 20 SOUTH THIRD STREET,
PHIL A DKLPHIA
D. C. WHARTON SMITH & CO.,
BANKERS AND BROKERS,
No. 121 SOUTH THIRD STREET.
Baoeeaeora to Smith, Randolph A Co.
Every branch af tha aoaineai will have prompt attentioa
aa heretofore. a
Quotatlooa of Btooka, Governmente, and Gold eoa
atantlj received from New Turk brprVa wire, from oaf
frienda, Kdmond D. Randolph A Oo.
SAFE DEPOSIT OOMPANIE3.
E PHILADELPHIA TRUST
HAFMi DEPOSIT
AND INSURANCE COJIPANV,
I OrriCS AND BUBOLAA-FBOOr VAULTS IX
THE PHILADELPHIA BANK BUILDING.
No. 421 CHKoNUT STREET.
i O A P I TaTL, 8500,000. ,
For Sapc-KKKPTKO of JOV.RNMTtKT Rniraa m'-w
Skouriti. Family P: .atb. Jewklut. and other VAur--.
ajimb, www pwuM a aiwivot, fa u. towssi rates.
The Company also offer for Rent at rates Tarying from
C16 to 76 per annum, the renter alone holding toe key,
SMALL SAFES IN THE BURQ LAK-PROO V VAULTS,
alfoidlng absolute Skcuritt against Fibjc. THEFT. Boa
GLAkX.end AccuicuT.
A 11 fftnoiary obllgationa, anoh aa TncsTS, Guardian
siiiMi. KxjcoimBuiF, .to.. wiU be undertaken and
faitbmlly discharged.
Circulars, gl Ting full details, forwarded on application.
DIRECTORS.
Thomas Robins.
Lewis R. Asuburst,
J. Livingston Kmuger,
R. P. McCullagh,
Rdwin M. Lewis,
Jsinea L. Claehnm.
Benjamin B. Ootnegys,
Aeiruntus UuLnn
F. Ratohford htarr,
Daniel Haddock, jr.,
?d.warJ V. Townsend.
John U.Taylor,
A. Porter.
Hon. Win.
OFFIOKRS
TresidnU LEWIS R. ANHHUR8T.
Vicrl'ridtilJ. LIVINGSTON KHRINOFR.
Btrrdary and TrvaniTtrB.. P. MoOUIjLAOH.
Solicitor K1CHAKO L. ASUUUKJST. a I mth ta
TORN FARNTJM & CO., COMMISSION MKRj
l ehsutssnd Mannfsetnrers of Oonestoga Tioking, as.
Ko.satjllKbMJTbUeet.Phila4.lvoi. slUs
v.-4