4 THE DAILY EVENING TELEGRAPH PHILADELPHIA, TUESDAY, JUME G, 1871. PUBLISHED EVERY AFTERNOON (SCKDA.TS BICIPTBD), AT THE EVENING TELEGRAPH BUILDING, No. 108 8. THIRD STREET, PHILADELPHIA. The Price it three centt per copy (double theet), or eighteen centt per week, payable to the carrier by whom eerved. The tubtoriplion price by mail it Nine Dollar $ per annum, or One Dollar and Fifty Centt for two moniht, invariably in advance for the lime ordered. , ' TUESDAY, JUNE 6. 1871. inE APPRENTICESHIP SYSTEM. One of the most striking passages in the able presentment of the late Grand Jury is that in -which it states that the rapid abandonment of the apprenticeship system "robs many a . .youth of disoipline that might prove an an chor of saf ety to him; while it also peroeptibly embarrasses onr measures for the care of friendless and the reformation of improTident JnYeniles." Tru'hrnl as this statement is, however, it may well be questioned whether the old praotioe of indenturing the young oan ever be re-established. Various circum stances have united to destroy it, probably forever. The charaoter of the tuition or in struction imparted has, in many trades, been radically changed. Formerly, an ap prentice mastered varied departments before he became a journeyman. If he was a hatter, he learned how to make a complete hat; if he was a shoemaker, he made an entire shoe; if he was a saddler, he made a saddle; if he was a cabinet-maker, he made all kinds of furni ture; if he was a carpenter, he learned every thing deemed important that appertained to that trade, etc Now, however, through the introduction of numerous machines and tke concentration of many workmen in large establishments, there is a constant tendency to increase the subdivisions of labor in nearly all trades, so that there are few plaoes in cities where n apprentice could learn any trade as an entirety, in the old-fashioned manner. It was also a common feature of the apprenticeship system that the appren tices boarded under the same roof as the master, becoming a part of his household as well as employes in his workshop. For obvious reasons this custom is not adapted to the mode of social life now generally prevail ing in the large cities. Aside from these reasons, there would now be great repugnance on the part of the parents of Young America, and on the part of Young America himself, to such a submission to the will of a master as was generally exacted under the old system; bo that it is not difficult to discover causes for the decadence of the custom of indentur ing apprentices, however much suoh a result may be deplored. The practical question is, how the best substitute for it can be supplied. A partial substitute is already in very general opera tion; that in, many thousands of boys are now at work under verbal or written artioles of agreement, receiving money wages in lieu of board and clothing, and remaining with their employers for such periods as are mutually agreeable, the boy being discharged instead of being whipped when he is incorrigibly idle or vicious, and a change of employers being made by the boy, whenever he considers it his interest or advantage to make such a change, without any danger of his being ad vertised as a runaway. This may be a poor substitute, but it is the best that has been provided, and in some trades in whioh it has become the custom of all the employers to avoid employing or entioing away from other employers partially trained minors, it still works tolerably well. Additional provision for the praotical busi ness instruction of tens of thousands of boys Is, however, manifestly needed. They are sent to the publio schools, and bright hopes are built upon the proapeot of the wonderful things they will accomplish after they are rendered prodigies of learning. But in thousands of instances all the geography, grammar, logio, Greek, and Latin that can be crammed into their brains does not teaoh them how to make an honest living. The people who obtain a livelihood direotly through their book knowledge, in this coun try, form a very small portion of its inhabi tants. While book education confers im measurable benefits by the mental training it promotes and by the general enlighten ment it produces, it does not, in one case out of a hundred, absolutely furnish the means for self-support. A very large proportion of the best educated men are, in a money-making sense, utter failures, while a large proportion of those who were pecuniarily successful were dull school-boys, and remain throughout their careers ignorant of and indifferent to book knowledge. We make these trite state ments here only to give point to the sugges tion that a greater amount of mechanical or technical instruction should be infused into the educational system of all large to was. We have seen what the Schools of Design are capable of doing for young women, what polytechnic schools oan do for young men destined for special pursuits, what West Point does for the officers of the army of the United States, what the Naval School does for the navy; and it is a question worthy of the most serious attention whether the principle developed" by the success of the institutions referred to might not, and should nut, be extended to many of the cemmon calliBg, trades, and arts. We are aware that the task involves some practical difficulties, but it is every ye ir growing more and more of a necessity to pi rents in moderate circumstances and to so ciety at large that better agencies than thosu sow existing should be provided for the dis charge of the homely but imperative duty of giving to many thousands or young lad lu struct ion that will insure to tuem an honest livelihood. TDE A CADEMT OF FINE ARTS. ' Tbb report made yesterday at the annual meeting of the stockholders of the Aoademy of Fine Arts can scarcely be very satisfactory to the friends of the institution. The Aca demy, it appears, owns property exoluslve of its art collection to the value of $147,500, nearly the whole of whioh is so tied up that it is not available for practioal purposes, but en the contrary is eating itself up at a somewhat rapid rate. Money has to be paid out for necessary expenses, but nothing of any consequence is coming in. It is pro posed to borrow on mortgage on one of the lots owned by the Academy the sum of $G0OO to meet probable loss on real estate, interest and tjxes, and as an offset to this we are in formed that the sum of $1000 has been placed in the hands of the Trea surer as a contribution towards the erection of new galleries. The present, it appears, is not considered an auspi cious time for an appeal for funds towards a new Academy, and active operations are to be deferred until next year, when the directors will signalize themselves by a combined attack upon the pockets of the moneyed men of Philadelphia. We hope the attack will be successful, but doubt whether it will unless a new and more liberal policy is adopted for the management of the institution. Money can be obtained just as well this year as next, if those who have the means to contribute can be convinced that they will get a return for their investments in the shape of an Art Aoa demy that will be really creditable to the city, that will be a valuable publio institution and not a mere plaything for a few gentlemen of elegant -leisure. We regret that the comments of Thb Tele graph do not appear to have been acoepted in a proper spirit by the directors of the Academy, and we consider the little outburst with re gard to this journal whioh took place at the meeting yesterday as entirely nnoalled for. We have been unable to see why a board of directors who have not been able to manage their own institution should desire to obtain jurisdiction over another one that is doing a good work in a quiet, unostentatious way, and we accordingly expressed a hope that the School of Design for Women would not be united with the Academy of Fine Arts. We see nothing in the report made yesterday to induoean altera tion of our original opinion on this subject, which is that such a change would swamp the School of Design and destroy its usefulness. With regard to the statement that the Super intendent of the School of Design , wrote the article condemning the proposed con solidation of the two sohools, we can only enter an express . denial. The gentleman in question never wrote an editorial for The Telegraph in his life, and in all probability he never will. The direotors of the Academy of Fine Arts will do better to study the faots whioh we present from time to time for their consideration, and to consider candidly the good advice we offer them, rather than to worry themselves about who writes our arti cles. CIViL SERVICE REFORM., President Grant has at last taken such aotion as Congress has warranted in the matter of the reform of the civil service. The appro priation bill approved March 3, 1871, con tained a provision authorizing the promulga tion of rules for the admission of persons to the civil service of the oountry, and the ex amination of candidates in regard to their personal fitness for the positions to which they aspire. From the character of the names announced as members of the board to carry out the provisions of the act, the people have good cause to hope for gratifying results from the experiment about to be made. The list is headed by George William Curtis, Esq., one of the most accomplished men of the day, whose earnest advocacy of political reform in the publio press and on the rostrum shows his heart to be in the cause. Then comes James Medill, Esq., the able editor of the Chioago Tribune, who, a a member of the recent Constitutional Conven tion of Illinois, displayed an equal earnestness in the cause of reform. He was the author of the provisions in the new Con stitution of Illinois .which estab lish the system of cumulative voting, and may be expected to further the cause of civil service reform in every pos sible way. The next name on the list is that of the Hon. Alexander G. Cattell, ex-United States Senator from New Jersey, whose record in the highest legislative body of the oountry was unusually pure and publio-spirited. Senator Cattell has filled the highest position in the gift of the people of his State, and has now withdrawn from the field of partisan politics, ne is therefore in a position of absolute independence, and by his ex perience of publio life is rarely fitted to discharge his new duties with an eye single to the interests of the publio service. The other three members of the board are connected with the exeoutive departments at Washington, and doubtless have had enough experience with incompe tent publio servants to inspire an earnest desire for securing a better class of men. They know precisely what requirements are needed in the civil service, and may be ex pected to insist rigidly on excluding all appli cants who do not come up to a fair standard of merit. Altogether, the experiment about to be inaugurated will be made under favor able auspices, and if the hands of the board are strengthened by the President's support, excellent results may be anticipated. THE SENTENCE OF MRS. FA lit. Mrs. Lacba D. Faib's counsel having failed to obtain for her a new trial, ahe has been sentenced to be banged on th 28th of July. There is a natural repugnance to seeing the extreme penalty .of the law visited upon a women, but a number of ciroumstanoes would reader clemency in this case a grievous wrong to society, and it is to be Loped that Mrs. Fair's sentence will be carried out to the Utter. It is highly im portant that a certain class of women should onderfctand that their sex will not be allowed to stand in the way of punishment for crime, and that if they will commit murder the gal lows will be their doom. If Miss Harris, who shot her sometime lover in Washington a few years ago because be preferred to marry another woman, and a few other female criminals who have made themselves amenable to the laws by their too ready use of the pis tol, had suffered as they deserved to do, the probabilities are that Mrs. Fair would not have been placed in her present predicament. As it is, she fully merits the doom which now awaits her, for the murder of Crittenden is not the only crime of the kind of which she is guilty, and the death penalty might as well be abolished altogether if it is not enforced in her ease. The Governor of California now has an opportunity to perforin an im portant service to the country by sternly re fusing to Interfere in behalf of Mrs. Fair, who deserves nothing whatever at his hands; and if her sentence is carried out it will have a greater moral effect than the hanging of a dozen men, and it will exert a powerful in fluence in checking the murderous propensi ties of handsome female fiends who con sider that they now have a license to kill at pleasure. SAD IN FA I XJA TIOX. Many people, as the Knights Templar swept in gorgeous array through the streets the other day, envied those latter-day pil grims their grand merrv-go-rounder of the next three months, and the aooounts fur nished of their doings on the way to New York and in that city are not reassuring to those who would "love to roam" but oan't. Whatever else they may be, the Sir Knights appear to be men of "unbounded stomach." Here is a tidy preparation for their pilgrim age. On the train from Philadelphia the tour ists were abundantly regaled by their friends. On arriving in Jersey City the guests were oon veyed to Taylor's Hotel, where a collation embracing all the delicacies of the season was partaken of. Thereafter they crossed to New York, and marching to the St. Nicholas, sat down to a grand dinner. And after din ner the fortunate, or unfortunate, pilgrims were seized by the Irauhoe Comuiandery and forced somehow or other to dispose of an elaborate strawberry supper. Thin, it must be remembered, was before the pilgrims left their native shores to fall into the hands of people who will make an especial point of their hospitality. At this rate, by the time the Sir Knights reach Jeru salem, they will be ready to buy up all the stray copies of "Banting" which the book sellers ef the Holy Land can furnish them. Their dearest friends would not be able to recognize them, and the band will not be able to blow a single note out of its once melli fluous throat. And yet such is the perversity of human nature, and so little do the most painful warnings impress us,- that it is pro bable that 50,000 Philadelphians would madly rush after the pilgrims if they could get the chance, and willingly Buffer all the conse quences. AN "EPISCOPALIAN OPINION OF "FAUST." ' Some one lias been Indiscreet enough to send the libretto of Fautt tot review to oar contemporary, The Episcopalian, This Is what he gets lor his trouble : From read l no; the explanatory preface of the drama, we should think it very objectionable on the score of morals. What do Christians want to know, either by poetry or by song, mnoh lets by represen tation, trie hidden things of darkness, of which It la a shame even to speak? Why cannot we have music or the nig nest cnaracter unconnected with vice and crime? Cannot a love-scene be depioted without sin and impurity"? Cannot a pure and sanctified affection oa which the Lord will tiuile be portrayed and surrounded with all the embellishments of art, without being dragged Into the mire of sin, and foaled with the protane language of the pit? We surely could not go to listen ib this piece of music, nor allow any over whom we had a responsible con trol to go. We could not permit it to be sang in private, or recommend it for the Christian nouit. we fear we ahall be condemned by the musical critics, and regarded as too particular by niauv of whom we should expect a different judgment 'But It la not the art, the science, tli music, the deceratlon and embellishment, the beauty and melody, we repudiate or fall to appre ciate. It IB the teniiment, the unhallnwed action, the worldly and wicked scenes portrayed by the story, to which we object. We regret that genius oanuot give us something unexceptionable la the direction we have pointed out. Co u I it this not be the case if that genius was Inspired by the spirit of true religion? but to us it seems as If the poetic a Hiatus comes from another spirit, even that of the god of this world. We think for Christian families the advice of holoruon Is well applied to operatic amusements, studies, and scenes: "Avoid it, pass not by It, tara from It and pass away." The reviewer Is apparently oulivlous of the fact that the libretto In question la an exceedingly di luted version of Ooethe'a great poem, but it may be sets under the belief that the original is a naughty work which Christians should avoid, pass by and turn away from, or more probably he knows nothing whatever about it. With regard to the libretto he acknowledges having based his opinion on a perusal of the explaratory preface, and It Is tolerably evi dent Jthat be has never read a scene of Goethe's poem or witnessed an act of Gounod's opera or of an) other opera, in fact. Such being the case, how la It to be expected tht either the rellgloas or the non-religious publio will have any particular regard for the views of the Fprn-opalian on the moral ten dencies of either the poem or the opera? We bold that the moral tendencies of a literary or artistic work should, so far as they are good or bad, secure for It the praise or condemna tion of bpth the religious and the secular press; but before condemnation la pissed, the censor should at least know what be Is talking about. Now the opera of Fount happens to be one cf the most prowuoclly affecting productions of the modern stage, and It Is not possible for a person or any sensibility to witness a reasonably good performance of It without being as much improved as by the ordinary run of sermons, or even by the weekly dissertations upon religion and morality to be found In the columns of the Episcopa lian. The music or Gounod's fautt, although Its claims to the highest rank are denied by some, is strangely In sympathy with tha subject, and the struggles or a pure soul with the powers of evil, and Its ultimate triumph and puriucatton through suffer lcg, are so set forth that -a theatre full or people who witness the opera are, to our way or tiluklug, far ruoie likely to be benefited morally than they would be If they took the weil-meaut but lgnornt advice of our contemporary and remained away, All true art points Its moral unmistakably, and as its Influ ence la purifying and healthy to all bat those attllcted with morbid and diseased Imaginations, It Is a most Important auxiliary to religion. If Gounod's Faxmt is condemned, then Goethe's works must come unaer the ban, and if Goethe's poem why not Dante's or Milton's er Shakespeare's plays T or, lu fact, ninety-nine oat of a hundred of th great productions of the human Intellect that have been read with profit and pleasure by the best men and women of centuries past? The "Divine Comedy," "Paradise Lost," the best of Shakespeare's trage dies, all treat of the "hidden things of darkness," as the Xpincopalian puts It, but we scarcely think that our contemporary Is prepared- to advocate their ' baiilsLiueiit from the libraries of the faithful; but If these prodnctlona are allowed, so must the opera of rwt, for the same objections will apply to the others as to It. Igt oranre of evil may be a very good thing, but In this wicked world tt Is Impossible that the average roan or woman can re main Ignorant of evil; and the best Intellects la the Chonh and out of It are of the opinion that the study of Just such works as those we have referred Ito exert an Important Influence In strengthening Christians for the work of combating evil, and In bringing the minds of the non-re.,glons Into a suit able Btate for the reception of religious and moral Impressions. Of course, there are some professed teachers of religion whose opportunities for literary and artistic stndy and Investigation have been lim ited, and they settle the matter to their own satis faction by dealing ont general damnation to what ever may not happen to strike their uneducated fancies favorably at first glance. That the cause of religion Is promoted by such proceeding we do not tielieve. NOTICES. SCNPAT 1 GSVTS' AM) f SrMMBB J AND EVKHVDAV f ") BOTS' tClT8. ' (CLOTHING. Every gent and boy In Phlladalphla who expects to go on The Grand BxcnwiON to thb Capes, Atlantic City, or elsewhere, should be comfortably rlsd In the beautiful, stylish, durable, and cheap garments now being made up and sold by Wakamaker A. Bkown, at their immense establishment, s. b. cor. sixth and market streets. Thin Scmmbr Vests. White Maksbili.es Vests. White Dccr Scits. Linun Hacks and Suits. , Costumes db Voyage, alpaca coats. Drap d'Etb Coats and Surra. Bixb Flannel Sacks. Boys' and Children's Suits. We would like the publio to coropire our goods aad prices with any they can And elsewhere. ! Wanamakbr A Bkown, Wanamakbr & Brown, The Largest Clothing Douse in America, Oak Hall, s. E. cor. Sixth and Market Sts. Oak Hall, S. E. cor. Sixth and Market Sts. GROCERIES, ETO. Pine Groceries. A FULL STOCK or Fine Teas and Coffees AND Choice Goods for the Table ' OP EVERY DESCRIPTION, At prices Intended to Induce purchases for summer consumption in tne country. All goods sold In nnbroken packages at wholesale prices. E. BRADFORD CLARKE, (SUCCESSOR TO SIMON COLTON CLARKE,) S. W. Corner BB0AD and WALNUT, 6 8 Stuthir PHILADELPHIA, NEW PUBLICATIONS WILL BE READY ON MONDAY JUNE 5. STKIFE. A Romnnco of Germany and Italy. . By Mrs. E. D. Wallace. IT. O. ROGERS & CO. Claxtcn, Hemsen & Haffelfinger, Nos. 819 aDd 821 MARKET STREET, 6 8 8t PHILADELPHIA. -1XT ILL BE PUBLISHED JUNE T ''THE GERMAN CONQUEST OP ENULASiU IN 175," Described by an eye-witness In 1925; describing the arrival of the German Armada; destruction of the limit li fleet; the oeclslve battle of Dorking; capture of London; downfall of the English Empire. Ltpr lined from Black woods Magazine. 12mo, parer, Sue. Cloth, gilt, 60c. "A powerful satire ou toe military helplessness of England. The Britons are stirred up by tt as they have been by no maiotzme article of this generation. "1 he Klgbt at Dame Kuiopa's School' did not bit tie bull's eve of EimiiHli feeling more squarely than this clever shot ironi Old M;r." Journal of Commerce. For sale by ail Hokneiiri. PORTaR A. COAXES, Pub Ishers, 6 6 8trp Philadelphia, - DRUGS, ETO. Genuine Olive. Oils, FOR TABLE USE. COX'e SPARKLING GKLAT1NE. RIO TAPIOCA, BERMUDA ARROW ROOT, SCOTCH OAT MBL, now landing and for sale by E0BEKT SHOEMAKER & CO.. IM.PORTINJ rRUUGISTS, N. BL Corner FOURTH ant RACE Streets. Elder Flower Soap. Just received, by the Flora Halburt, from London, An Invoice of BKUBoRO 8 CKLEBKATEj) ELDEli FLOWEH, WINDSOR, GLYC'ilHINR, and HONEY bOAPS. E0BEBT SHOEMAKER & CO., N. E. Corner FOURTH aud RiCB Streets, 61 8n;4p ; PHILADELPHIA. CHEOARAV INSTITUTE, NOS. 1521 AND 1.729 fePKIXE Street. Philadelphia. Pa, ENGLISH and KBNC'II for Yuung Ladin and Hi?. Board lng and day pupils win reopen on MONDAY, Men. tewber IW. t'renck is the laiuftia'ji oj the amity oiJ i i coiftuntly tpoken in the Institute. lthstufiml MADAME D HKKVILLY, PrlncipaL TOO KB, LOANS. HTCL BOl'GHT AND SOLD ' AT THE BOARD OK BROKERS. i 25 tuthB2mrp No, 18 s. TUIU 3 Street. GROCERIES, ETC 1805. FINE GROCERIES. 1805. cnxrrxjx? & xvxaddocix, Pi: lis 8. Til I III Street, Invite the citizens of Philadelphia and Burroundlnga to their large and fresh stock of FINK GHOCE11IE8, Which they offer at greatly reduced prices. Families about removing to the country can And here a fail snpply of everything fine In tne rtrocery line. All oroers given will be necnrely packed, and delivered free of charge to th depots. All goods warranted as represented, or money refunded. BE8T TEAS, COPFEKS. Specla'tles. tup " BDUAH-CFRED HAMS, MS, ULOTHINQ. OR OT D ow XI III AYS1 EOCKHILL A WILSON are ready to provide FOR THE COMFORT and enjoyment of their FELLOW-CITIZKNS, If the thermometer WILL KEEP at anything below TWO HUNDRED and Twelve Degrees. COGL COOL COOL Castimere Suits for HOT DXYS HOT DAYS HOT D US Linen Duck Coats for White Vests for CQQL Alpaca Garments for QJ QjytJ COOL unenDu8tefor HOT DAYS CHEAP PRICES ( CHKAPPKICKHFOIt HOT DAYg. CHEAP PKICES ( On all descriptions of Thin apparel AT GREAT BHQWN HAIL OF ROCKHILL & WILSON. 603 and 605 CHESS UT STREET, PHILADELPHIA. J AS 7)n .4 PHFQTNIITST: 0stNDEll IHE1 'PHILADELPHIA) FA, FINE CLOTHING TO ORDER FOR GENTLEMEN Elegant Styles In Light and Dark Mixed. Plaid and Striped Suitings. Diagonal Coatings of beautiful design and fabric Handsome styles In Pantaloon Casslmeres. White, Brown, and Fancy Linens, Drills, etc. Drap d'Ete, Alpacas, DuckB, Bamboo Cloth, eta. WESTON & BROTHER, TAILORS, v S. W. Corner NINTH and ARCH SU, PHILADELPHIA. A full assortment now in store OF THE CHOICEST NOVELTIES OF THE SEASON FOR GENTLEMEN'S WEAR. A SUPERIOR GARMENT AT A REASONABLE PRICE. I 8 Smrp PIANOS. STEIN WAY SONS' GRAND SQUARE AND UPRIGHT PIANOS. Special attention Is called to their PATENT UPRianT PIANOS. CHARLES BLASIU8. Warerooms, No. 1006 CHESNUT btreet, Phtladel. phla. 413 tfrp GHIOKERISO SONS, Grand Square and Upright Pianos. GREAT REDUCTION. FIXED PRICES. DUTTON'S PIANO ROOMS, 6 lfl lmlplm Nob. 1126 and 1123 CHESSUT St. jgj PIANOS AND ORGANS. GEO. 8TECK & CO. "SO BHADBUKi'S, V PIANOS, HAINES' BROS', J MASON AND HAMLIN'S CABINET ORGANS. GOULD k FISCHER, . No. 3 OH KSNUT Street i. I. GOULD. No. 1018 ARCH btreet. wit o. Ftscnit, . 1 IT tftp lfetntllfelicl lu 1854. WATCHES. EVEKGOIN'O STEM-WINDERS, KEY-WINDERS, QUARTER SECONDS, MINUTE REPEATERS, ETC. ETO. ETC. C. & A. PEQUIONOT, No. 60S CUESNUT 8TRKKT, SEWING MACHINE. J II B WHEELER & WILSON Bimmu itiAi'iiirtiz, For Bait on Kary Term. NO. 914 CHESNUT STREET. 1 nwrt PUILADKLrCIA. FINANCIAL. THIS' BEW ORLEANS, MOBILE, AND TEXAS RAILROAD COMPANY Are building a trunk lino, connecting New Orleans with Mobile on the east, and giving the ONLY EAILE0AD COS NEC HON Between the former city and the great and most productive State of Texas on the wet, the total dis tance from Mobile to Bountou being 479 miles. The Company Is composed of strong Northern capitalists, who have air cad j expended nearly TEN MILLION DOLLARS or their own f inds In the construction of the line. Thej have bnlit about S25 miles from Mobile westward, and secured by pur chase of securities and made provision for the thorough repair and equipment of the ins miles con stltutlDg the Texas division ; leaving bat 140 miles to be built To Complete tht Entire Road. It Is believed that no other railroad corporation In the country has ev r made so large an expenditure from its own means before offering any of Its seen ritita to the public The Company now offer for sale the Eight Ver Cent. Mortgage IJonds upon the Louisiana division of 226-; miles from New Orleans to the baliine River. This will prebablybe the most valuable portion or the whole line, as It will be the only rail communication by which the enor mous productions of Texas can reach the Southern metropolis. So important is this road considered to Louisiana, that the State has made very liberal grants In aid of the enterprise, by direct donations, by endorsement of Its bonds, and by subscription to the stock of the Company, amounting in all to over eight million dollars. The Bonds now offered are of two classes: ' FIRST MORTGAGE BONDS, to the amount of $19,500 per mile, and SECOND MORTGAGE BONDS, to an equal amount, both principal and Interest guaranteed by the State of Louisiana. The price of the two classes Is the same, and subscribers can take their choice. The Bonds are only In the denomination of $1000, or 800 each. Interest payable January and July, at the rate of eight per cent currency in New Yorx, or seven per cent, gold in London, at the option of the holder, at the time each coupon la due. Bonds can be registered, If desired. NO BETTER SECURITY HAS BEEN OFFERED to Investors. The line is a good and 1 nportant one, and the stockholders have proved their determina tion and ability to carry the work to an early and successful completion, by the very large amount they have themselves put Into It. The Bonds are largely profitable, aa well as en tirely safe. One thousand dollars Invested In these eight per cent, bonds will give the purchaser mort than teventy-aeven per cent, greater annual Interest' than the same amount Invested In the new Govern ment Five Per Cents, Into which the Government Sixes are' being funded by the Secretary of the Treasury. At the same price, an 8 per cent, currency long bond Is far cheaper than a T per cent, gold one. Calculating a return to specie payments In three years, and taking the time that the bonds of the New Orleans, Mobile, aud Texas Railroad have to run 45 years we find that by compounding the interest of each, every six months, at 7 per cent., au 8 per cent currency bond at OO will give a return of 82C11-18 MORE than a 7 ier cent, gold boutt at the same price, or nearly three times the amount of the orlgtual Invest ment. While the purchaser of the 8 per cent, bonds of this company can realize this special profit, he also holds the option of taking advantage of any tempo rary advance In gold, as he baa choice, at every separate coupon day, of gold Interest at T per cent, or currency interest at 8 per ceut. The Bonds are dated May l, 1871. The first cou pon will, therefore, be a fractional one, running from May 1 to July 1. The price is 90, and accrued Interest at 8 per cent, currency from May 1 to date of remittance. Subscriptions will be received in Philadelphia by DC HAVEN & BRO., No. 40 S. THIRD STREET, Of whom full information concerning the Company and the Road can be obtained. V. C. 8HATTUCK, Danker, AND Financial Agent, N. O., M. & T, R. II. Co., No. 83 NASSAU STREET, CSftu4p4t NEW YORK. TRAVELLERS' CREDITS. Our Letter of Credit gives the bolder the privilege of drawing either on DREXEL, 1UKJES & CO., Paris, IN FRANCS, Ok os Kesiri. A. S. PET RLE & CO., London, IN STJtKLlNO, As may be found moet convenient or profitable, and In available throughout Kurope. To parties going a'uoad we offer Bpeclal facilities, collecting their tu Het,tand dividends during their absence without . barge, DREXEL & CO., So. 34 BOTJTH THIRD BTREET, . PHILADELPHIA- LOST, JOST OR MISLAID TWO PER PBTUAL POLI j cits OK1N&1 RANCH, issued by the Trustees i f the Ure Amoi latiou of Philadelphia: one to a J4,.t5t-so, and ii to MAUVOL'INN for f i.m o, dated July 24, i(jj4, No. 82io4. Information u ill I u r. i'f K fi1 litf Willow knigbt shrtook, AdrrmilKirHb K, tat of John Douohue, 6 1 Ct t,o. 16 North bliVAVl a btreet, Plula.
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