THE DAILY EVENINO TELEGRAriT PHILADELPHIA, SATURDAY, FEBRUARY 11, 1871.
orin.iT or san rnnsn.
Editorial Opinions or the Leading Journals
upon Current Toploa Compiled Every
Day for the Evening Telegraph.
ENGLAND AND THE UNITED STATES.
Prim the A. r. It raid.
We live in an age of the grandest even's
among tLe nations aud of tne strangest poli
tical coincidences On rbnrsday, for jx iiplf,
Lilo tbe cannon in front of the City II t'L,
within a stone's throw of ihe Herald o:H ia,
were thundering their warlike welooiue to
tLe great pastting Fenian jjrooession, we were
receiving despatches from London aud from
Washington, the whole purport of wnicn is a
new at ten It evrdialc beween EugUnd aud
tbe United State. It struck ns ai a in ,t
extraordinary cucurreuce of events, tint
while bearing this w-tilike thnuder of tlie
Fenian cannon we should be reading these
lightning despatches from tbe foggy Tunnies
and tbe frozen Potomac from I'rttsiiloat
Grant and Qneen Victoria. "Let a hire
peace!" And while lookiug oat npm tuts
Fenian pageant, and reeoguiziug in its politi
cal and military forces an argument the in lit
powerful with Euglaud in behalf of pivje
witb this couutry, it appeared to us tint this
imposing Irish parade was involuutarily cele
brating the inauguration of a new epo jh of
progress, peace, prosperity, and happiness to
"the three kingdoms" and ''the great repub
liu" and to all their people.
Tbe Queen's speech to the two bouses of
the British Parliament gives us, in a few
biief sentences, tbe inauguration of thU uw
historical era. She bhjs that "at different
times several qnestions of importance biive
arii-en, which are not yet adjusted, aud which
materially affect the relations between the
Uniied Mates and the territories and people
of Britit-h North America." She next sub
mits that one of these questions (the fisheries)
"calls particulaily for an early settlement, lest
the possible indiscretions of in Hvi litis
should impair the neighborly undent tud
ing which is on all grounds ho desira'dy
to cherihh aud maintain." In pi tin. -r
terms, she would sy: "You uiut 1 k
out, gentlemen, for a settlement of
tLofce North American fishery troubles.
General Ben Butler has been nuking
pome mischievous speeches to tbe Yankee
fishermen at Cspe Cod, and be seems to be
backed up by General Grant. Those Yankee
fihbermen will be spt to take tbe hint, and
they may get np a tight, and get the Feuivjs
on the Cansdiau border again before we are
ready for tbeiu, if tbey are not at ouoe at
tended to." Viewing the matter iu this liht,
tbe Queen next sayH that she hm, tunmu a
friendly corriKiondence with Gen. Grau', ag
gested tbe appo.nmentof a joint axumisslm,
and Las agreed to a proposal from the Presi
dent to enlarge tbe powers of this joint ooui
mishion, so thst it shall embrace tbe AUbima
claims "and all claims for compensation whioh
have been or msy bo made by each Govern
ment or by its citizens upon tbe other."
This is all we have iu the Queen's speech
on tbe snlijt-ct; but what she has omitted
touching tLis joint commission is snpphed us
in tbe correspondence between hr Aliuister
at WahLingtou, Sir Edward Thornton, aud
Mr. Fish, our Secretary of State. Minister
Thornton guys Le is directed by Lord Gran
ville to propose a "joint high ooiumiisiou,"
of members to be named by ea :ti (J ivru
ment; that it hball hold i's sessions in W Isl
ington, and that its business shall be to con
sider and "discuss tbo mode of settling the
different questions v Lich Lave arisen out of
tbe fisheries" and other matters (such as the
St. LawrtLce navigation question) atFdctiug
the relations of the United States with the
New Dominion. Mr. Fifh, in reply, writes
Le is instructed by the Presideut to sty th it
"Le shared with Ler Majesty's Goveruuieut
tLe appreciation of tbe import ince of a
friendly and complete understanding between
tbe two governments ' on the subject hu
gesled, "and fully recognizes the friendly
spirit which bus prompted the proposal." But
tbe President thinks the commission on the
limitations proposed would fail to secure a
perfeot understanding of peace. lie, there
fore, proposes to turn over to this "'joint
High Commission" the Alaba.ua claims, aud
if met npon this ground, the appointment of
tbe commissioners for the United States will
be made, and be thus hopes for "a just aud
amicable arrangement of all the questions
v.Lich now unfortunately stand in tbe way of
an entire aud abiding friendship between the
two nations."
TLis proposition being accepted, (he Presi
dent has nominated Secretary Fish, General
Scbenck, Justice Nelson, of the hupreme
Court of the United States, Mr. Hoar, late
Attorney-General, and Senator Williams, of
Oregon, to this "joint high oommisHion" on
the part of the United States. From the
other aide we bear that Earl de Grey and
ltipon has been appointed, and that Minister
Thornton will be next in order; and we leirn
that Sir John Rose, Sir John A. M vlon ld,
Professor Montague Bernard, with LurJ
Tenterden as Secretary, bave been
also designated. Tbe members on
tbe part of onr Government are
perfectly satisfactory. Mr. Fish
is pacitio and conservative. General Sohenck
is progressive, and has something of the bol 1
Western theory of American rights; bat he W
an old diplomat and he is not unreasonable.
Justice Nelson brings with him the oooluess,
carefulnei-s, and legal precision of the Su
preme Court. Mr. Hoar, of Massachusetts,
may be relied npon in behalf of oar fisher
men's rights, and Senator Williams, of Ore.
gon, is fully conversant with the rights,
claims, and interests of onr people on tbe
borders of British Columbia and Paget'
Bound.
The British commissioners, it is reported,
sailed for New York yesterday. We are.
therefore, disposed to consider all the exist
ing differences between tbe two countries.
upon tbe various questions to be settled, as
virtually adjusted in the appoiutmeut of this
"joiut high commission. They seem to
Lave in Eu gland a very erroneous l npression
of tbe belligerent proclivities of General
Scbenck, and in some apprehension from his
appointment as our Minister to London, L ml
Uranville may have conceived the grand idea
of this joint commission. We know tint
while General Scbenck, in this city, has been
awaiting his final Instructions, his contem.
plated voyage to England hs been super
seded by this new and comprehensive ar
rangement. England is evidently resolved npon peine
and the closest relations of friendship with the
United States. For the last twenty years or
so she baa been a power ou tbe European
Continent only through Ler entente e'jrdiu'e
with France. Now the prostration of Frauoe
and the newly risen and portentous power of
tbe German empire to England makes a close
alliance with the Lmted States a necessity,
looking to future contingencies. The bulk
of tLe Yafct trade, meantime, between Europe
and America Is between England and th
United States. Upon this trade now hwgs
tbe British constitution. War for sit months
betaeen John Bull and Brother Jonathan
would preiipitate a French revolution
in England and ia Ireland. As it is,
tLe umH-ei of the British people are
pnsLit g for American institutions, and there
5s no scape for tbe Britih aristocracy except
llroth tLe closest relations of Laruiony
with the United States. Yet agin, her
Majesty's North American territories, under
the New Dominion, stretching alongside our
on from tbe Atlantic to tbe Pacitio Ocean,
are evidently intended as a future important
British balance of power on thii continent.
But this balance can be established only
tbirtigh tLe consent of tho Unite I States,
slid to secure this consent the equivalents of
the Lsppiest acoord between the two nations
most be established.
TLis "joint Ligh commission" at Washing
ton on American affairs may be ranked with
a conference of all the great powers ou Euro
pean all airs. Anticipating a complete settle
ment of all the difficulties pending between
tbe two countries in this Washington Con
ference, as in our northeastern and north
western boundary treaties, we may mark it
as tLe opening of a new career to England
and to tbe United States. In a geierous
rivslry tLey will only fight for tbe com
mercial nipremaey of the seas; and the
United States, England, aud Bussia, by laud
and t-ea, will Lave work enough before them
iu developing tbeir vast domains, which
sweep around the noitbern circuit of the
globe. Germany will regulnte the European
continent in behalf of peace. Tbe
luted States, under the new compact of
peace and amity with England, will hold
Bnssia on tbe seas aud in China to terms of
p see. At tbe same time, step by step, we
may look for a revolution In Great Britain
ai d Ireland, which will only eud iu breaking
up the feudal system and in making the Iud
ten to all the people as we have it hre.
Gladstone and tbe English Liberals are mov
ing, tLough cautiously, in this direction; but
tbe tii os t important movement tbey have yet
ooiicehed for the peaceful liberation of the
lintisb empire and its people from their
feudal systtiu is that of this "joiut high com
mission" looking to the settlement of all exist
ii g !i-piites, and to a complete aud cotnpre
I.eLsive entrtttc crdiitle with the United
States. Tbe Anglo-ltehel pirate Alabama thus
comes in as a great peacemaker. And what
iloen this hitherto ominous word Alabama
higniy ? It means "Here we rest."
"MR. SUMNER'S ATTITUDE IN OUR
BRITISH QUAUUEL."
From the A. r. World.
A contradiction by Mr. Sumner, which ap
pears in tbe Tribune, of the statement rnvla
in the httving I 'out that be insists inflexibly
on atonement by England for the Queen's
pro( lnu,htiun of neutrality as a distinct griev
ance, will tie received with general pleasure.
TLe denial is in tLese words:
"Mr. hsiniier shts there Is no Rronni for the
Mulrnit'Lt, t-tlilonalij ma'le tijr a Now York journal,
Mint i e B'tfiiil In 'he war 01 a aellleiueuc witti Euz-
litiut, urKiiirf turtt in aroltr m )ii can tn couplet
. i. (i.i s iiM include the question or ine prema
ture rtcoKnUlou of bclllgereut rlgti's."
TLe speech of tbe eminent Sena'or in op
position to the Johnson-Clarendon conven
tion was made neatly two years ago a period
u tig enough, amid the dizzy activities of our
tiuits, to efface its precise terms from tbe
best memoiies. And now, as Mr. Webster
said, iu tLe opening of his reply to llayne, of
the mariner who bus been drifting at sea in
bad weather without taking observations of
the sun, especially doos it beoome us, as the
t-sy begins to clear, to look backward to see
wi.at were the objections made to this treaty.
Mr. Sumr er's onief complaint was the fact
that it was modelled ou tbe treaty of 1853,
which was Solely for individual claims,
whereas the existing unsettled British diffe
rtnees concerned, in addition, na'ional
gtieances. He asserted that the convention
negotiated by Air. lteverdy Johnson con
tained no settlement of what the Senator
tailed the "real qnestien," which was the in
jury to our nation. For this he insisted
"there is not one word or regret or even re
cognition, and no amruiatiou of a rule of
international dutj in such cusvs. Everything
was lift, bs in an umpirage of private claims,
to a coj ttituted commission empowered to
choose an arbitrator in tbe event of a failure
to agree, such arbitrator to be determined
"by lot out of two persona named by each
side. Such was the gist of his objections.
He, to be sure, expressed at muoh length his
view of what be characterized as the "true
ground of complaint" and of the bad con
cession of belligerency. He also developed
a very absuid theory as to the true rule to
govern in assessing damages; but the pivot
of Lis sp ech w as the aileuoe of the treaty in
respect to national as distinguished from, pri
vate claims.
So much for Mr. Sumner.
President Grant, in his instructions to Mr.
Motley of May 15, 18G'J, direoted Mr. Fish to
bay:
"The Government, In rejecting the recent oia
vi'Liion, abandons neither Us own claims nor th jis
of lis citizens."
TLis is distinct recognition of two classes
of claims.
ULe instructions continue:
"Tbe terms of the convention, having by accident
l.mnie known to the public la this couutry before
Mieaction upon It by tbe fteuate, were disapproved
l y the people with an approach to unanimity that
loiesliadowed, possibly, even a les favorable vote
ou the question of ratification than was actually
fclvtn.
"The President believes the rejection of tbe Con
vention to have keen in the interest of peace, and
fu Die direction of a more perfect aud cordlat
friendship net ween the two countries; and In tins
bel if he fully approved tbe acuoa of the annate."
It ia tLe popular impression, shared evi
dently by tbe keening Pout, that Mr. Sum
ner Lad aud has very extreme opinions as to
leccgnition of belligerenoe, and that there
was great disagreement on the point between
Li in and Mr. Fish. TLe views of tbe latter
were expressed to Motley in May, 18ti'J, thus:
The President recognizes the right of every
power, when a civil conflict has arisen within an
other 8i ate, and has attained a-ufflcleutcotuplexlty,
magnitude, and completeness, to defluu Its own re
lations and those or lta citizens and subjects toward
the artiea to tbe conflict, so far as their rights and
interest are ni cessnrnj affected by the conflict. Tbe
ii ceasiij and propriety of the original concession of
belligerency by Oreat Mntian a tbe ttine It was
made bave Oeeu contested, and ar not admittn.l.
They certainly are questionable, but tbe President
reisrdM that t oueeaaion as a pit of the case only o
tut as It shows the beirlnuinir and the animus of that
course of conduct which lesulied s disastrously to
the i ioien oiaiea. ma uuuortant in that it fore-
fcliaaowa auutequeut rmuu,"
And in September of that year they were
re peateu to vuia lunu;
The Presldeit dots not deny, on the conuarr
he maintains, that every sovereign power dacldea (or
listlf, ou I'S responsibility, tbe question wbetneror
noi at a given tuoe to acc ro ine aiaiuioi tielllgo
relict as to the limurgeut subjects of another D'w.-.r.
as also tbe larger question of tho Independence of
such subject, aud their a".ceaslon to the 'ainlly of
koerelii biafea. Hut the rlghifulnua of such an
act d pt nds on the occasion and the circumtlaucea,
aid it la au act like the sovereign act of war, whicii
the inoiallly r f the pub ic law aud practice r jmres
mi uiii he deliberate, resa mam", a'i'l JJ-t. in r. ier
eiice to feurroundlug laca natWn! belllx-rcucr
Im'eed, like national Independence, beluif b it an
existing fact, oinclaliy recoguized as such, without
whlrn such a declaration Is only the In root m -ftmationo;
a i articular IIdb of policy."
It was understood at tbe time that these
Fonnd propositions bad Mr. Sumner's full
ent. Their application is announoed by
Mr. Fish in bis recent Motley letter, wherein
Le pajs tLe latter was told to plaoe oar
grievance "not so much upon her issuance
of tLe recognition of the insurgents' state
of war as upon ber condnot under and subse
qnert to such recognition." We take it that
Mr. Fish and Mr Sumner now agree that the
true use of the Queen's proclamation is, in
esse of fair doubt as to tbe negligence or
degree of diligence on the part of tbe minis
try in arresting any of the cruisers, to tarn
tbe scale in our favor by the evidence of hoi
tile animns which it furnighes. And the
whole world will agree that the proclamation
onght, as a matter of oourteoy, to have been
Lostponed till after Mr. Adams' arrival in
oLdon, and that Earl Russell wan wanting
in international comity, if not justioe, by
failing to make the delay.
As to Mr. Sumner's complaint that the
treaty contained no recognition on the part
of Great Britain of a rule of international
dnty in such cases, the cround for it is nearly
all rf moved by her neutrality legislation of
IS 70.
In the ppee ch to which we refer the distin
guished Senator started out with the proposi
tion that we "seek jv$ticehi the foundation
of a good understanding with Great Britain."
In tLat the whole country is on hU side. As
the Northern and Southern States of this
Union car not be safely or benefloontly ad
ministered by the Federal Government oa
tbo principle of Late or spite of one section
for or against the other, no more can Bach
emotions conduce to good results between
independent nations with commercial contact.
With substantial justice, banishing all ground
for complaint, the contradiction in the Tri
Iviie to which we have referred makes ns
Loj e Mr. Sumner will be content, and will
assent to honorable means of ascertaining
wLnt justice is on tLe points whereon this
country is fairly in doubt. As to the damages
Inflicted by one of the cruisers, tho Alabama,
we Lave, upon tho facts before us, a well
defined opinion that Great Britain ought not
to resist immediate atonement and payment,
and that it is not a case for arbitration. The
claim for damage by the other cruisers rests
on a different basis of facts.
A RAILWAY SIGNAL SYSTEM.
from the If. X. Time.
While we may feel disposed to go to the
furthest verge of charity in ascribing to "ao
cident" the sad disaster on the Hudson River
Railroad, we mnnt ask to be excused from
speaking or thinking of it as an occurrence
entirely unavoidable. One of the evening
papers says, with an entire disregard of fact,
that "no human foret-ight" could have pre
vented this calamity. In Germany or France
it is tLe biniplo truth to affirm that no such
"accident" could have happened. Axles
may break and car-wheels give way, but col
lisions never take place. A siugle train may
come to wreck, by reason of some untoward
event whose nature may be of the really
unavoidable Rort; but the horrors of
tte cene will sever be intetisiiied by
the destruction of other onrushing
trains. The process of prevention is
one of almost primitive simplicity. A signal
system, of easy arrangement, but of com
plete efficiency, is in operation on every mile
of the track by day and night. Men are per
manently stationed along tbe entire road at
abort distances, having huts in which they
live, and patches of ground to cultivate. It
is their business to beep watch within sight
of each other. During the day they signal
with flags the passage of every train, and at
night perform tLe same service by means of
colored lights. In foggy weather the signals
are made witb horns. It is no affair of theirs
whether a train is running on time or other
wise; all they bave to do is to pass along the
frignal that a train has started and is on its
way. Tbe men being placed thus within sight
of one another, a signal given just as the
train starts is passed along with a rapidity
tLat outruns the train, and reaches the next
(station in time to be of use.
TLe code of signals is, of course, se ar
ranged as to meet emergencies which may
arise at any point. If a train is off the track
or delayed by some breakage, or if the road
bed or bridges get ont of order, this nag or
lantern telegraph summons help, warns of
danger, and stops all approaching trains. The
entire efficiency of the system has been
thoroughly demonstrated during years of use.
In practice it has been found that an un
broken current of signals can be transmitted
with a rpeed greater than that of the swiftest
locomotive, and next only to that of electri
city. It is a simple question of sharp Bight
and quick motion on the part of men who
Lave no other work to perform. It is idle to
tell us tLat a train behind time, as was the
Pacific express on tnat eventful Monday
night, could not have been warned by even
so simple a means as this of the destruction
that lay in its path. And, therefore, we
ref use to place the terrible disaster in the
category of unavoidable occurrences which
"no human foresight" could gnard against.
No railway management is to be held guilt
less wLile omitting, or on any pretext rerus
iBg.to adopt precautionary measures of ascer
tained value. It is, indeed, the duty of men
Laving control of these corporations to make
such precautions the first and most constant
subject of study. There is no reason why
we should not have in the United Statea
qnite as secure a signal Bervice on railways
as in France and Germany. This is a matter
n which we cannot afford to be behind the
times.
FUNDING TnE DEBT.
From tU If. Y. Tribune.
At last much later than we had hoped
the Secretary of the Treasury gives notice
that be will attempt to fund the bulk of the
national debt in bonds bearing lower rates of
interest, bo as to reduce the burden of that
debt. If fifteen hundred millions of the five
twenties can be funded even at five per cent.,
tbe debt will be lessened by the Bum of fif
teen millions per annum; if all the bonds ad
vertised by the Secretary should be taken at
par on bis terms, the saving to the American
people would be rather more than twenty-live
millions per annum. Let us all do our best,
therefore, to promote and secure the funding
of tbe debt.
Other governments, as well as many com
panies, seek to borrow money in excess of
their present liabilities: not so the Govern
ment of the United Slates. It seeks to bor
row the means of paving what it row owes.
and for no other purpose. If the fifteen hun
dred millions it wants should all be subscribed
forthwith, thtro would not be one dollar
more of its nrominea afloat thereafter than
there are now. Every dollar subscribed to
these new loans will cancel end extinguish.
a dollar of outstanding debt. The money
market, whether of this country or of the
world, will be nowise disturbed or straitened
by the success of these loans.
On the t;th of March, when tbe books for
bubsciiption axe to be opened, it U Loped
that peace betwt-en Germany and France will
have been restored. The clond of war which
bring over the Black Sea will have been
effectually dispelled. The misunderstand
ings between our country and Great Britain
seem on tbe eve of settlement. We see no
reason, therefore, to doubt that the Clh of
next month will be a favorable time to
attempt the funding of tho debt.
Should the effort resnll in failure, the sole
cause of that failure will be tbe dilapidated
condition of our currency. The Secretary ex
acts payment for his new bonds either in eut
Manding bonds of the Government or in coin.
We apprehend that this precludes subscrip
tions from tbe great body of the American
people. We would gladly appeal to those who
nave a few hundreds or thousands in a savings
bank to withdraw it and invest it in the new
bonds; but tbey would receive it in green
backs or national bank notes, whioh they
wonld bave to sell at 10 or 12 per cent, dis
count in order to procure specie wherewith to
pay their subscriptions; and this, we judge,
most of them will hesitate to do. If the
effort to fund fails, tbe disparity between
coin and currency must bear tho blame. And
then we must all work the harder to appre
ciate our greenbacks to a par with gold.
The ratea of interest offered by the Govern
ment aro sufficient. To an unprejudiced
judgment, these bonds are a better invest
ment than were those issued during the war,
when it was doubtful that the Union would
be restored. Those who then lent their means
to sustain tbe Government have ever since
been the objects of Copperhead envy and
hate, because tbeir venture proved a success.
Now let those, without distinction of party,
who want a safe and good investment, sub
scribe to the new loans. If tbe rates of
interest seem moderate, remember the com
plete exemption from Federal, State, and
local taxation; bear in mind that you can
borrow on these securities as you can on no
other, and resolve to have one security that
is pale beyond contingency.
FINANCIAL..
Wilmington and Reading
SEVEN PER CENT. BONDS
Free of Taxes.
We are offering $200,000 of the Second
Mortgage Bonds of this Company
AT 82 J AND ACCRUED INTEREST.
For the convenience of Investors these Bonds are
Issued In denominations of
$1000a, $500f, and $100a.
The money Is required for tbe purchase of a4ds
tioual Kolilug btock and the lull equipment of the
Head.
The road Is now finished, and doing a bo si neat
largely In excess of the anticipations of Its offlcora.
Tbe trade offering- necessitates a large additional
outlay for rolling stock, to afford full facilities for lta
prompt transaction, the prescut rolling stock not
being sufficient to accommodate the trade.
WI, PAINTER & CO.,
BANKEUS,
No. 30 South THIRD Street,
6B PHILADELPHIA.
SPECIAl NOTICE TO INVESTORS.
XL Choice Security.
We are now able to supply a limited amount
of the
Catawissa Railroad Company's
7 PER CENT.
CONVERTIBLE MORTGAGE B0ND3,
FREE OF bTATB AND UNITED STATES TAX,
Tbey are Issued for the sole purpose of building
the exvenslun from MILTON TO WlLUAM3tOKT,
a distance of 80 mil?, and are ucured by a lien on the
enure roaa vj many iuv inxun, muv equipped aud
doing a nourishing business.
Wben It is considered that the entire Indebtedness
or tne company will be lean ttiaa fis.uuo per mile,
leaving out their Valuable Coal Property of laoo acre,
It wUl be seen at onre what an unusual aiuouul of
B'curltt Is attached to tnene bonds, and ther tnere-
fore must commend themselves to tne most prudent
lovestois. An additional advantage Is. that thev
can be converted, at tbe option of ihe holder, after
lb years, Into tbe Preferred Stock, at par.
Tbey are reglHtered Coupon Bonds (a great safe
guard), isHued In sums of laoo and looe. Interest
payable February and August.
Price ti aud accrued lntereit, leaving a good
margin lor auvanc.
If or further lniormatlon, apply to
D. C. WHARTON SMITH & CO.,
Uo. 121 SOUTn TIII11B STREET,
1 2Si PHILADELPHIA..
DUNN BROTHERS,
Nob. 51 and 53 S. THIRD St.,
tealera In Mercantile Paper, Collateral Loans,
Government Securities, and Gold.
Draw Bills of Exchange on the Union Bank of
london.and tone travellers' letters of credit through
Messra, BOWLES 15E03 it CO., available In all the
cities of Europe.
Hake Collections on all points.
Execute orders lor Bonds and Stocks at Board of
Brokers.
Allow Interest on Deposits, subjec; to check at
eight it
F
O It
12,
Six Per Cent. Loan of the City of Wil
liamsport, Pennsylvania,
IT r t? of all T it x o h
At 89 and Accrued Interest.
These Bonds are made absolutely secure by act of
Legislature compelling tbe city to levy samcient tax
to pay lntereit and principal.
P. 8. PETERSON & CO.,
No. 39 8. T1IIIU) STKKET,
SB PHILADELPHIA.
lCl r C ' J fX.A .A Usimi
PINANOIAU
A RELIABLE
Safe Home Investment
THII
Sunbury and Lewistown
Railroad Company
7 FEU CENT. GOLD
First Mortgage Bonds.
Intere Payable April nod Octo
ber, I'ree oTMtate and ITulted
State Taxei,
We are cow offering tbe balance of ths
loan of $1,200,000, which is secured by a
first and only lien on the entire property and
franchises of the Company,
Jit 90 and the ZLccrned Into
rest Added.
The Iload Is now raDldlv BDoroaohinf? com.
pletion, with a large trade in COAL, IltON,
ana iUJdLi.lt, in addition to tbe passenger
travel awaiting the opening of this greatly
needed enterprise. The local trade alone is
sufficiently large to sustain the Road. We
have no hesitation in reoommendinff tbe
Bonds as a CHEAP, EELIABUS, and SAFE
UN v tiJliliJS X.
For pamphlets, with map, and fall infor
motion, apt-ly to
YVEVl. PAINTER & CO.,
Dealers In Government Seonritie,
Ho. 80 Couth THIRD Otreo
tf4p PHILADELPHIA.
JAY COOKE & CO.,
PHILADELPHIA, NEW YORK and WASHIN9T02J.
JAY COOKE, MeCOLLOCa i& CO.,
LONDON.
IJiYiNItlilirS
AMD
Dealeri in Government Securities.
Special attention (riven to tbe Purchase and Sale
of Honda at.d fctocks on Commission, at the Hoard of
Brokers In this and other cities.
INTEREST ALLOWED ON DEPOSITS,
ttLLECT108 MADE ON ALL POINTS.
UOLD AND blLVEK UOLOHT AND bOLD.
In connection with our London House we are now
prepared to transact a general
FOREIGN EXCIIANOS BUSINESS,
Including Purchase and Sale of Sterling Bills, and
tbe issue of Commercial Credits and Travellers' Cir
ca ar Letters, available In any part of the world, and
are tbos enabled to receive GOLD ON DSfOSlT,
and to allow four per cent. Interest In currency
thereon.
Having direct telegraphic communication witb
both our New York and Washington Offices, we can
oner tuperlor facilities to our customers.
RE1 IABLE RAILROAD BONDS FOR INVEST
MENT. Pamphlets aud full Information given at our office,
8 3mrp Ko. 114 S. THIRD Street, Pbllada.
OFFER FOlt BALE, AT PAR
THE NEW MASONIC
TEMPLE LOAN,
Searing 7 3-10 interest,
Redeemable after Are (9) and within twenty-one (31)
years.
Intcreftt Payable March and Sep
tember. Tbe Bonds are registered, and will be Issued In
urns to suit.
DE HAVEN & BROn
No. 40 South THIRD Street.
11 PHILADELPHIA,
Stocks bought and sold on commission. Gold aud
Government bought aud told. Account received
and Interest allowed, subject le Sight Drafts.
530 530
BANKER.
PEPOblT ACCOTTNT8 KRCEIVKD AND INTKB
EST ALLOWED ON DAILY KALsN 1S.
OHDKitt PItUklPTLY KXlkCOlKU KOH THI
PUhCHAKB AND KALE O ALL KJtUAULB bli
CUK1TIKH. COLLECTIONS MADB EVKUYWHERB.
KKAL SbTATB COLLATEUAL LOANS SOO
TIATUX t8 am
No. 630 WALNUT St., PhUatU.
FINANCIAL
TREASURY DEPARTMENT,
WASBINQT0N, Tebrairy 4, 1STL
rUBLIO NOTIC8 IS IIKREBT QIV1I" THAT
BOOKS WILL BE OPSNED OS TUB
SIXTH DAY OF MABCH NEXT,
In tbi country an4 In Europe, for Subscriptions to
THE NdTIOfM 10 IS,
T"rdr the Act approved July 14. l70, ertltlfvl '"Aa
Act to uihvm- ttie kefuuHoir of ttin National
1 ft)t,'si (1 tt e Act lu aoieodfueai tOereuf, approved
Jmiuary t. 1671.
rim !'' at wtilh subscriptions mtrM maris
nn the iiHincH of the aut.hTieii Agents or tbaUir.
erumeiit will he annonrici hereafier. Tlie proposed
Lohd on prima three c hMrra of iloiid.s na'iiely:
K'rtt. iioiidt to the niiiunt of live titimliei ro l
ni of dollars, pa.THtilu In coin, at the pleawnre of
the L'n.U-rt Mbub, nfter teu yearn in mi tne rUto of
tlitl' 1hiip, ami Irt-uniur interest iay il e qu irieriy
In oin, t the rate ol lve pr cent p-r amm m.
hecoi a. l(oi,i to ilm Huiouiit of ihr.-e huri'lrei
milltoiiHOf nnl) r, ratable iu ruin, at t!ii pl-Huni of
th-Unttert fstaten, arrVr nftepn yc ir fr mih UH
oi their woe. and benrli'K lme.fst. rirle qjar
tt rly incotu.aithe rate of four ami a h tifper cent,
per anrnr.
T hird. Ilwrds to the amount nf even hunl-t
rt'lilWiiw or dollars, payable In coin, at tne plea n re
Of tlie I'lilU d biuU-b, a'ter tlilitj texro fro n in cl tt
of Uielr Icfue. ai.il O' arlcR Interact, piVHltle quar
terly In coin, a, thr rate t lour percent.' per ami rn.
hulBi rlters to the Ltan will have prefereuce In
t h frllu tr'ir nnter, namely :
First. ruiBcrlbtrs lor equal araouut-i of ea;U class
Of Mill (In.
Feurt. Pnhsc'ibers for eqnol amnnnta of bonla
benrlnir Interest at th ra'e of four and a half ;pr
cent., and of Ootids bearing lute rest at the rte of
nf per vi lit.
'J bird, huhscrlbers for Ave prccn b .nds.
h-n a ntwrlpti'D Is inane the 'iborirer wl'I
he requtied to dfpoatt two perceu . ol the am Hint
ihern-f. to t accounted for by the Uovfrirnont
win n ib- Nmda aie o llvered ; aiid riatinfnt n.av hi
niade eltlt r In cidn or Id Kinds ol the United ta'es
Known ac fivb-twkntk hondh. at thulr tar value.
Tbpeoin received In pawneut will be applied to tUj
r df rt i turn of uviwuitv ootids.
The bono will be reinsured or Issued with ctu
f or, a mj bedeMred by anns irlttrrs Heifiutf ri'4
hniida Kill be Ix8tled of tne denominations of m,
tiPO. f.Mii, flOixi, fwrno, and $1i,ooi; an I ooiip.m
l.otirth of ea-h den imluatioti except the luattwo.
I he Interet-t will tie. pianl- In th i nr.wi state, at
the ofllce of the Treasurer, any AR'a'nut Treasurer,
or l'PFiiinated lep sltary of the Onve: n-neni.
1 he lom-s of the several elates aforesaid, and
the int-ea therein, ar exempt from tne pawn'tit
of all laxi a or nun of the 1' lilted tUtn, ai well as
from taxation in any form by or under state, muni
cipal, or local authority.
After maturity, the bonds last Issued will be IJrst
redeened, by c.BRKea and nnmbvra, a may be de
signated b) the Secretary of the Treatary.
GEO. S. BOUTWtLL,
8 9 6t SECRETARY OF THE TRKibUBr.
XL XXI GAL mVESTXftErJT
Caving sold a Urge portion of ibe
Pesntylvmia Kailroad General Mort
gage Bonds,
The undersigned offer tbe balance for a limited pe
riod at VB and Interest added in currency.
These bonds are the cheapest Investment for Trus
tees, Executors, and Administrators.
For further part'culars. Inquire of
JAY COOKE A O.,
B, W. CLARE A CO..
W. U. NEW HOLD, bON A AERTSEH.
ctE bokie. rai tin
JOHN S. RUSHTOM & CO.,
BANKERS AJTD BROKERS.
GOLD AND COUPONS WANTED.
City WarratitM
BOUGHT AND BOLD.
No. 60 8outh THIRD Street.
6 864 PHILADELPHIA,
B. K. JAMISON & CO.,
SUCCESSORS TO
P.F.KELLY So CO,
BAN EE KB AND DEAL IE Kb IN
Gold, Silver, and Government Bonds
At Cieseat Market Kates,
N. W. Cor. THIRD and CHE3NUT Stt.
Special attention given to COMMISSION ORDERS
In New York aud Philadelphia Btoct Boards, etc
et H)
OLOTH8. OA88IMERE8, ETO.
QUOTH H O U 8 R,
JAMES & HUQBR.
Ifo. 11 rtortb 8i:CII Street,
Sign of tbe Oolden Lamb,
Are receiving a large aud splendid assortment
of new styles of
FANCY GAS3IMERE3
And standard makes of DOES E INS, CLOTHa ant
COATINU3, i sa niwa
AT WHOLE8ALB AND KBTAIL,
WHISKY, WINE. ETO.
QARSTAIRO & McCALL.
No. 126 Walnut and 21 Granite Btt
IMPOKTKHJJ OV
Brandies, Wlnet, Gin, OIIti OIL Eta.;
VmOLKSAIJi DKALEB8 IN
PURE RYE WHI8KIC0,
t BOWPAUP TAJt PAID. mg
OOROAQE, ETO.
CORDAGE. "
il&nllla, Sia&l and Tarred Corda;
At Lot m Rot York FrloM and Irwchta.
EUW1P1 U. FITI.EIt UOh
VOTf, lKIiTH St. and UKUXASTOWa AveatM,
BUna. Ko. t3 . WATXK Bk. and tt M DKLAWAB
Ann.
J Wm PHILADELPHIA!
loiix s. le ca, i:ope and twin's
J bANi FACTl KE-S. "
DIAIEI S IN NAVAL fcTORES.
ANCHORS AMI UHINS,
SHIP CHAN HI.EHV (icxl).S. ETC..
Nos. 40 and H NORTH WIIAUVaS. 8 85