tlnhe4.
HUNTINGDON, PA
Wednesday morning, Nov. 20; 1867.
IVIII. LEWIS,
HUGH LINDSAY, }EDITORSD
Se-The Greensburg 142611(min nom
inates Col. Dan. Rico for President.
friabSeerotary Welles has been very
sick, but is gutting better.
• ItgL.lf you don't want to be "sold"
don't invest in any of the "Grand PlTS
ontation Enterprises."
_Thad. Stevens says.;—"Wo havo
thrown away our billions and are still
throwing away millions by misman-
agement."
Ice - Congress meets in special ses
sion On Thursday next The now Con
gress will commence the first Monday
in December, when the present Con
gress closes.
trarlt is now announced in Rich•
• mond that the trial orJeff. Davis will
commence on the 25th inst. It is un
derstood Chief Justice Chase will not
preside. ,
A NEW CANDIDATE.—The evening
Democratic papers of Washington city,
nominates Gen. Sherman, and John P.
Stockton of New• Jersey, for President
and Vice President.
rgk..Weston, the pedestrian, has mado
three attempts to travel ono hundred
miles in one day, and failed; at last ae
tounte ho had arrived at Conneaut,
_
Ohio, on tho 16th. His foot wore bad
ly swollen.
-
• um.li,Grant should turn up a Con
servative; would the Journal & Amer&
von'talro his name down from their
toast'-tiefll And should his name be
;faliea" - dpwa•would the editors run up
Vidge Chase—a notorious Radical ?
wa,.The following item of news we
,lipfrom the Nevada (California,)Tran
.icript.:• -
- "Soine of the Pennsylvania pap Ors
are &ging the claims of ex-Governor
Win. Bigler ,ofth at State, as Democratic
461141iiiitefor'Y'reiddent."
: Igs;;Lewis Lindsey, colored delegate
to' the Virginia State Constitutional
Con'yention, was arrested in Richmond
on the 12th inst., for using language
in a speech calculated to incite the col.
ored against the white citizens of Vir
ginia:'
• SeirThe' Republican County Corn
inittoo ofßlair county, hold a meeting
Batu6lay, and'declared in favor of
Gen. Grant for President, and Gov.
Geary for Vico President, and elected
Hon. -L. WV. Hall delegate to the next
State Convention.
116 r Tlie formal transfer and delivery
of • Russian America to the United
States Government took place at Now
Archangel on the 13th inst., by Cap
tain Pestrechoff, acting commissioner
on , be,half of : the Russian Government,
ancl4lajor.General Rousseau.
h
va. 0 T w ill
e the•next President
of;the United States?. If office-hunting
politiciang -eoudd'ouly know the man it
would matter little to them who ho is
-114 `would be for him., Office for
themselves is what most; interests the
largo majority of President Makers.
larThad: Stevens is in Washington,
but in such feeble health that it is not
expected that be will be able to take
his seat in the, House. , lie is in a rap
id' deCline, almost Completely, worn
out..f Re will be missed as the radical
leader. He is in the neighborhood of
eighty years of age.
Hth,O. Stevens says "the South
ern:people must bo whipped into sub
mission to the doctrines sot forth by
Congress if they do not peaceably ac
cept the situation from a radical stand
point!:* Well, we do not believe the
whites of the South will accept negro
supremacy.
itio_The aggregate result of the elec.-
tion in Kansas upon the negro suffrage
and female suffrage amendment is as
follows : , For negro suffrage, 5995;
against negro suffrage, 13,563; for.fe
mare suffrage, 5043; against female
suffrage, 13,198.. At the same time an
amendment was submitted disfranehi
sil disloyal persons, and adopted by
a 'iyote of 9253 . in, its favor to 8003
. .
against it., .
Stir Ron. F. B. Spinner, United
States Treasurer, says :. '• •
'Tin:ye' not the patience to read
anything ildpeating the sneakinc , ex
pedient-of:paying the national debt in
depreciplectcprrency." : „
`;Greenbacks". are , considered par in
this;, neighborhood—they pay taxes,
and'we . nre,'Willing to reedy() them in
.
payinent bf,old,as. well as new debts—
traits •
ndr.lf a man steals al ham, a loaf of
broadi.
,a'busbel of wheat; a bushel of
pottifelq, Or other articles 'to.feed his
atarping children, and is detected, ho
is pronouns:zed a thief, and often sent to
the penitentiary, but if a man steals a
hundred'thousand dollars ho is a de
faulter; and the chances of his ever
seeing the inside. of a prison are too
remote to be taken into consideration.'
To cheat a neighbor is an every day
occurrence. To promise to pay when
there is no intention of paying is about
as honest as to enter your neighbor's
,hen coop and steal his chickens.
, 6 Our suggestion in the Globe of
last week, that the Union men of the
war return to a Union Party organiza
tion, has been favorably and *enthusi
astically received by many - of the best
mon (now acting with the radical Re
publican organization,)' in the minty.
A "Union party" was successful in the
last Prosidentiid campaign—since then
the radicals I•eorganized the party to
suit thOir radical notions, and to-day
we find their platform and organiza
tion below par with a majority of the
party and sure to be defeated at future
elections. The Vallandigham Democ
racy can only be defeated by a "Union
Party,"—the good old party that
crushed the rebellion. The friends of
a "Union Party," will find us always
ready to work with them for the Union
and for the best interests of the peo
ple. Our columns aro upon to any sag;
gestions from Union men.
TERRIBLESTOR3I.—Advices from Por
to Rico by the Cuba cable state that
that island has been visited by a tem
pest more severe than the two terrible
gales which visited the ill-fated island
previous to 1850. All the towns have
been terribly desolated, one thousand
houses have been laid in ruins, and
three thousand have been severely
damaged. No news has been received
regarding the effoctsof the storm in the
central portion of the island, where, on
the savannas, many herds are pastur
ed ; but elsewhere the cattle have been
killed and the fields swept entirely
bare. The loss is incalculable. During
the gale the little island of Tortola, of
the Virgin Group,ontiroly disappeared,
being completely submerged, it is said,
for eight hours. Every living thing,
man or animal, upon it perished. It
is said some ton thousand human be
ings were drowned.
AdrA correspondent of the New
York Herald says that "the negroes in
Mecklenburg and the adjoining coup•
ties of-Virginia are now debating in
their secret leagues whether they shall
take possession of the land of the
whites by violence on the Ist of Janu
ary, if Congress do not give it to them
as they say has been promised. The
Radical delegates from meeklanberg to
the convention are urging them to take
the lands of the whites at all hazards.
None of the negroes will hire them
selVes unless they get possession of the
entire plantation, • horses,- mules, and
tools. The negroes are all armed and
the whites are not. Much fear•of
war between the races is felt in this
portion of the State."
Ddi"-A new Republican daily and
weekly pajier . to be called "The State
Guard," is to, be commenced in Harris
burg, on the 2d of December. The edi
tors and' proprietors aro Robt. Dough--
son, Private Secretary to Gov. Geary,
Wien Forney, State Librarian, and re
cent editor of- the Telegraph, and Levi
Kauffman, of Cumberland county. The
objection to- the Telegraph is that it is
under the complete control of Simon
Cameron„and, none but his friends can
be treated with respect in his columns.
FORNEY'S . LETTERS FROM EUROPE.-
Wo have received from the publishers,
T. B. Peterson & Brothers, 306 Chest
nut st., Phila., a copy of Col. Forney's
new book, entitled "Letters from Eu
rope by John W. Forney." The book
is handsomely gotten up and the let
ters are interesting to all readers. It
will be sent'free of postage on remit-
ting two dollars to the publishers—or
it can bo had at our Book Storo.
TAXATION.—,If we look to history
we shall see that nearly all great re
volutions have been caused by unjust
or oppressive taxation. Touch the
pockets oftho people, tax them. be
yond ineasuro;'call upon the laboring
masses for the product of their sweat
and labor'to maintain an extravagant
Government,,and there will surely be
a revolt.• In 'arbitrary or monarchical
Governments there will be insurrec
tion or a bloody rovoltion; under a pop
ular Government like ours the revolu
tion will be effected at the ballot box.
Our own glorious revolution was the
result of the unjust and oppressive
taxes imposed by the impdrial Govern.-
ment of' Great Britain. Thesfirst groat
revolution and ;succeeding revolution
in Franco sprang mainly from like
causes. So it has, eenin',England and
other countries throughout all history,
and even as far back as the reVolt of
the ten tribes of Israel under Jeroboam,
because the yoke of Rehoboam was
too heavy to be borne. Can any ono
be so short-sighted, then, as not to see
that the Americans must soon revolt
at the oppressive taxation note impos
ed upon tlietit? A people who make
their own Jaws by representatives cho
sen every two years will not long, en
dure extravagant and oppressive log
islation.—Ncte Yorklieralel.
THE SUFFRAGE QUESTION.—The New
York Times ththiconcludes a long and
elaborate article upon Thaddeus Ste
vens and his views on 'the suffrage
question : ' .""
"The suffrage question is to become
a subject of political contest. Up to
the present time the States have had
control of it. The i Constitution, in ex
press language; gives it to them. An
effort is now to be made to take it
away from them and confer it upon
Congtess. The effort is right enough.
Perhaps mph a change ought to be
made. It is possible, certainly, that
the whole 'spirit and opinion of the
people have changed, and that they
now prefer a continental 'empire, such
as Mr. Stevens, describes—with a cen
tral power resting on 'universal suf
frage regulated and controlled by the
States composing it, which our fathers
framed. - If they do—if tho Country is
ready`for the change 'and tho people
demand it—it not only may,. but it
must be made. But this must be thine
by the'peoplOtheinselves, through an
amendment to the di:institution, and
not by Congress, through the enact:
merit of a law. And this is the mode
liy whiCh the Reptibiican party inuiE.t
seek the change; if it decide to Seek it
at all. • „..
Spoech of President Johnson.
The serenade to President Johnson,
on Wednesday evening last, was a
pretty ,heavy . . demonstration. Some
thousand of people were present. Af
ter quiet had been obtained, Col. Jas.
,R. O'Beirne, on the part of tho Con
servative Army and Navy Union, pro.
seated the following address :
His Excellency Andrew Johnson,
President of the United States :—Mr.
President—The Conservative Army
and Navy Union of the District of Col
umbia tender you, their honored chief,
the compliment of a grand serenade
in congratulation of newly promised
hope for tho welfare of our recently
hitherto unharpy country. Our Con
servative friends throughout the Dis
trict, representing the different States
of the Union, join us in trusting that
the present, with its arguments, may
be a harbinger of renewed future pros
perity and tranquility and brotherly
love throughout the land. We invoke
Providence to strengthen your hands,
to give you courage and fortitude to
aid you in the successful performance
of the grand mission it is yours to per
form. "Sales populi lex supreme est."
At the Conclusion of tho address of
Col. O'Boirno, the President spoko as
follows:
The Speech of the President.
Fellow-citiZons:—it is not my inten•
tion to make an address upon this oc
casion, but simply to tender you my
thanks for this demonstration—a do.
monstration approbating what your
fellow-eitizens have declared in the re
cent elections in the various States of
the Union. They will appreciate your
response to what they have done, and
send back greeting that the Union of
the States must be maintained accor
ding to the original design of our frail
ers.
I confess I am gratified, but not sur
prised, at the result of the recent elec
tions. I have always had undoubting
confidence in the people. They may
sometimes be misled by a "lying spirit
in the mouths of their prophets,"but
never perverted ; and in the en they
are always right. In the gloomiest
hours through which I have passed—
and many of them, God knows, have
been dark enough—and when our Con
stitution was in the utmost peril, when
our free institutions were assailed by a
formidable force, and our great repub
lic seemed to bo tottering to its fall,
and when I felt how vain were my ef
forts alone to preserve these institu
tions in their integrity, , and to save
the republic from ruin, .1. was still hopes
ful ; I had still an abiding confidence
in the people, and felt assured that
they, in their might, would come to
the rescue. They have come! And
thank God they have come, and that
our republic may yet be saved. [Tre
mendous cheering.] •
It was but the other day that I offi •
cially declared that the remedyfor the
present unhappy condition of the coun
try must come from th'e people them
selves. They know what the remedy
is, and how it is to bo applied. At the
present time they cannot, according to
the forms of tho Constitution, repeal
obnoxious laws; they cannot remove
or control this military despotism. The
remedy is nevertheless in their hands,
and is a sure one, if not controlled by
fraud, overaived by arbitrary power,
or, from apathy on their part, too long
delayed. With abiding confidence in
their patriotism, wisdom, and integri
ty, I am still hopeful that in the and
the rod of despotism will be broken,
the armed heel of power lifted from the
necks of the eoplo, and the principles
of a violat Constitution preserved.
The people ave spoken in a manner
not to be misunderstood. Thank God!
they have spoken'; for it is upon their
intelligence and their integrity that I
have always relied, and still rely. The
Constitution of the country, which was
imperilled, has recently been before
them for consideration, and it has had
new life and vigor imparted to it from
its original source—the people. It
comes back to us with renewed strength
and power. Lot it now be translated
high up in the heavens, written in let
ters of living light, as the symbol of
liberty and union, justice, magnanimi
ty, and fraternity I Good night.
At the conclusion of the address of
President Johnson he was repeatedly
cheered by the vast assemblitge. Pres
ident Johnson then bowed "good
night," and the immense throng com
menced to disperse.
FROM WASHINGTON,
Thaddeus Stevens, Views. Col. Forney
a Candidate for Vice President.
WASHINGTON, Nov. 14.—Thad. Ste
vens arrived hero last night, and was
visited at his residence to day by a
number of personal friends. He con
versed freely on polities and the state
of the country. He was not'much dis
appointed, and not at all disheartened,
he said, by the result of the late elec
tions. Ho expected negro suffrage to
be defeated when it was first present
ed to the people of the North, but-it
must not, on that account, be abandon
ed. It was a fundamental- plank in
the Republican platform,• and must be
pressed until it was carried. Alluding
to the next Presidency, ho had no par
ticular personal preference but ho was
utterly opposed to the idea of running
after any man and making him a can
didate on his own terms. He was sure
the Republican party was strong
enough to °loot its candidate on a
square fight, without sailing under
false colors and being trapped into, an
expediency nomination. He hoped the
Republican members would not be
scared out of their principles by the
late elections, but that they would
stand up to the Congressional plan of
reconstruction, and got the Southern
States readmitted' upon it in 'tithe to
have them represented in the Electoral
College. While the old gentleman was
earnestly expatiating in this strain,
the hour of four o'clock P. M., arrived,
and ho abruptly dismissed all his visi•
tors by saying that under the direction
of his medical adviser he must take his
'medicine and retire to bed. Secretary
Seward called soon atter, but was de
nied an interview, as the nurse in at
tendance said that nobody Must be al
lowed to see Mr. S. afte' four o'ehielc.
The latest phase .of the Presidential
movement is the mention of Colonel
Forney's ,name for Vice President.
Colonel Forney gives private assuran
ces that ho and- Grunt would sweep
rennsylvania by 60;000 majority. -
A Negro for President of the United
States.
The Church Union, a professionally
religious journal, which is published
in Now York, gravely. proposes that
Fred. Douglass, a negro, shalltue elec
ted President of the United States,
and in an article nearly a column in
length, proceeds to give its reasons
therefor. We extract the principal
points of the argument of the editor in
favor of a black man for the disting
uished position once honored by Wash
ington. Let it be remembered that
these extracts are from a journal pub
lished by mon with white skin :
1. Ile represents by his race a sixth
part of the population of the land. By
the simplest principles of justice to all
the people who must share the burdens
and the blessings of this government,
we ask candid mon, and no others will
care to read this article through, if it
is not time this endless blarney about
equal rights to all should be put to
some practical test ? It is duo five
millions of American-born citizens, as
loyal to our flag and our principles as
any in the nation, that some ono of
their number have the supreme con
trol of the executive branch of this
government for a brief period at least.
Fred. Douglass is universally accept
ed as their leading statesman ; there
fore we advocate his elevation to that
office.
2. It is expedient. Nothing would
sooner settle this disturbed country
than a test like this. It would elevate
and make honorable a race that must
otherwise remain as it is, embarrassed
by the prejudices of the bad and the
fastidious, the aristocrats and the sel
fish, and all who hate the principles at
the foundation of this government.
Elevate Fred. Douglass to the presi•
dency, and yon do more to silence
these busy and otherwise hopeful ene
mies of freedom'and this Union than
fifty sessions of Congress and all the
talk of thirty years past. An act is
what wo want; That settles something
Talk does nothing.
It is expedient because he • can be
elected more easily than any other
Radical candidate. We can't trust the
white man in this emergency. Sheri
dan is very well, but be was an old
line Whig, and Andrew Johnson ought
to-be a warning to all future time for
us. A white nian like Sheridan could
carry some military but little moral
power. Fred. Douglass is a temper
ance man; he is an advocate of the
most advanced views of universal suf
frage; he believes that a woman is as
good as a colored man to judge who
ought to rule; he is not a wild,reckless
hair-brained fanatic, but cool without
being willing to sell the truth. We
believe ho could' carry every State
lately in rebellion, the entire western
States; including -Ohio; and all New
England except Connecticut. Califor
nia.Nowlevsey, New York, Pennsyl
vania, Maryland; Kentucky, and the
Nutmeg Btate, wo believe, are all the
States which Would vote against him.
With these States opposed to him, he
would have several doubtful ones to
spare, and would go into the White
House with a party strengthened eter
nally by the admitted consciousness of
having lived clear up to its principles.
The power of radical parties must al
ways be-not in extreme measures, but
consistency. The Republican party
is the party' of progress, purity, and
democracy. Let it live out these prin
ciples to their legitimate conclusions,
and it will always hold the power it
has gained. Let it waver or go back,
and it will vanish in an hour.
General Grant's Opinions.
(From the N. Y. Herald .1
Outraged at the unpatriotic, parti
san, fanatical course of the Republican
party and its efforts to prevent the re
storation of national harmony, ,the
people have, uttered their indignation
in substantial majorities against that
organizationwherever its principles
came before them ; but they have not
yet entirely cast that party aside. It
is evident, however, that it now stands
only on sufferance. It can count upon
no favor except as it may deserve it
from its future course; while if it per
sists in the attempt to force its explo
ded system of reconstruction—its nig
ger and corruption policy—it will by
such a Course make the revolution
complete and sweeping; it will compel
the people to take from it the last ves
tige of power. There aro some indi
cations that events must go to that re
sult. Distinguished' radical mon and
journals declare that the nigger shall
still not be given up. The city organ
of tho radicals says that the nigger re
construction laws now in operation are
of a class With the laws of the Iffedes
and PersianiL-not to be changed; a
Western organ says that the radicals
must "fortify• where they' are," and
Ben Wade says that he for one will
pot retire an' inch. All this is likely
enough to be - only the blather and bra'-
vado of noisy 'fellow's whiStling to keep
thoir cotirager up ; but if it shall prove
to be a party Policy, it is clear that the
warning is not yot sufficient.
In view of this position, it now be
cornes noces'Sarythatthe people should
know the opinions of any man likely
to become a candidate for the Presi
dency, in order to know that he is pos
itively with them, against the extre
mists they repudiate. :It is especially
necessary that we should know the
opinions of General Grant more clearly
than we do. tile is now the Most pro
minent candidate before the nation for
the highest office in it. His patriotism
and honest purposes aro well known ;
his judgment and ability, in certain af
fairs 'are ungetestioned, and he has
shown a disposition. to national econo
my of the happioSt f promise.; yet it
would "he Well if We had from himself,
positiVe, affirmative knowledge of- his
views on the political condition of the
co u n try. In the absence of such know-
ledge of the opiniOns of the General,
Lieutenant General Sherman standS
forward as the n Most distinguished sol
dier whose sentiments are known, and
known to be in harmony with the prn-,
sent ideas of the ,peOple. It is time,
therefore, that General Grant should
come out. Let him develop his lines,
that people may'know where he is.
Six members of the Colored Union
League in Pickens District, S. C., aro
to ho,hiing next month for murder in
a Into riot. Tilightecn , others go to pri•
eon.
A Now York-Sunday paper gii-es
list of Mop in 1.1114, city who have made
largo, fortakos by. thO war,
The National Bank Currency.
[rrom the New York Nation.]
The approaching session of Congress
is likely to become memorable for the
number of financial measures submit
ted to its discussion. The questions
of currency contraction, of payment of
the national debt, of further greenback
issues, and of the substitution of green•
backs for the notes of national banks,
will all be brought up for decision at
an early day; bait unlike the many
financial measures passed during the
last six years, those now to be brought
forward are being discussed in advance
of Congress, and there is a fitir chance
that we shall thus bo saved from fur
ther• legislative crudities such as now
afflict us. The National Bank act is
ono of many specimens of the
blundering legislation sometimes ex
tracted from Congress by ignorance,
cupidity, and party zeal. Under the
provisions of that act many honorable
men have organized national banks
in all Parts of the country, and have
invested in them time, money, charac
ter and ability. The investment has
generally proved a very profitable ono,
mainly owing to the privilege given to
these banks to•issue paper money, the
now well-known national bank curren
cy.,
This currency was at first very pop
ular everywhere, but latterly public
opinion has somewhat changed, and it
has come to be generally understood
that this currency, while very profita
ble to the banks, is also very expen
sive to the people; hence the proposi•
tiou recently made, and certain to be
urged upon Congress, to substitute
greenbacks for the national currency,
seems to be received with almost uni
versal favor. It would seem natural
that the owners of national banks
should feel aggrieved at an attempt to
deprive them of valuable privileges
conferred upon them by law, and
should use every legitimate means to
defeat it. •
Stripped of all technicalities, tho
case stands precisely as follows :
When the greenbacks ok;United States
currency was first issued, it was gener
ally understood that they were a tem
porary expedient only, that they were
in the phraseology of the times, em
phatically a "war measure," and that
with the end of the war the existence
of the greenbacks was to come to an
and likewise. An irredeemable paper
currency was entirely antagonistic to
the general feeling of the country;
and although, in the total absence of
all currency at the time the act was
passed, the legal-tenders or greenbacks
wore received as an inestimable .bless
ing, yet there has been no time since
when the sober thought of the people
has not looked upon them as intruders
to bo expelled as soon as possible, and
has not reverted with natural longing
to the promised return to specie pay
ments and a currency redeemable in
Coin. This desirable result, among
others, it was thought could and would
be obtained through the National
Banks:
They were to be alloWed to issue
bank notes or currency to the-amount
of three hundred millions (the amount
of currency which it was supposed
would be required in times of peace),
and these notes they were bound to re
deem on demand in "legal-tender" cur
rency. As long ae there wore green
backs in circulation, the natienal banks
could redeem their notes in that kind
of "legal tender." But the supply of
greenbacks was to be, and is now be,
ing, rapidly reduced by contraction; a
time will soon come when thero will
be no longer any 'greenbacks but, and
the national banks will be compelled
to redeem their notes in the only kind
of "legal tender" left, viz : gold
_and
silver Coin, and thus specie payments
were to be restored. In order to have
ample security that the banks would,
according to agreement, redeem the
notes so issued when called upon, they
were required to purchase and deposit
in the Treasury at Washington an
amount of United States bonds equal
tea . little larger than the amount. of
currency they were allowed to issue.
These bonds of course belong . to the
banks although temporarily pledged
to the United States Treasury, and
the interest accruing on them is regu
larly paid to the banks, as it would be
to any other owner. There seems at
first . sight nothing objectionable in
this, but there is nevertheless much.
The original founders of a national
bank contribute in greenbacks a capi
tal of a million of dollars. With these
greenbacks they buy a million of bonds;
the bonds aro deposited in Washington
where they draw six per cent. interest
in coin or seven per eent. interest in
currency. The bank thus sesures six
or seven per cent. on its capital; the
same as any other eapitaliu who in
vests his money in bends; ' but 'the I
bank, in addition, receives from the
Treasury a million of 'national bank
bills, which are money in all parts of
the United States, and which the bank_
can loan in Wall. street or anywhere
else for another 'seveh'•por cent. per
annum. It is evident, that capital in
vested in a national bank , gets a double
rate of intertist-L-One seVen_per cent.
from the people who borrew,,lts. bills,
and another seven per cent. from the
United States Treasury for interest on'
the bonds deposited With it. The sev
en per cent. paid by the Treasury is,
ofcourso, paid by the people at large,
and it is this interest, amounting to
over twenty' millions of dollars per
annum, which it is proposed .to save I
by substituting greenbacks for the
notes of the national banks. If, instead ,!
of selling to the national banks the
three hundred millions of bonds,against
which they are authorized to issue
their currency; • the Treasury had in
tho first instance issued three hundred
millions of its own currency—green
backs— it is evident that, there would
have been no more cnrreney out and
no less than there is now; that the to
lid of the national - thibt',Would have
been no larger than it is now; but that
three hundred millions more: of that
debt would have boon free of interest
instead of costing, as they now do,
over twenty millions of dollars annu
ally, which are taken from the people
by taxation, to be put in the pockets
of the national bank stockholders.—
This is the great error, the groat
wrong, of the National Bank act, and
the all but unanimous voice. ott , the
country demands that the error should
be corrected and the wrong redressed.
As matters now stand, a one-dollar
national bank note is nothing more
than a promise" to pay n one-dollar
greenback on demand. 'The popular
argument is, that if the greenback it
self is, as it must be, preferable to any
promise to furnish it, no matter how
substantial or well secured, and the
greenback, the actual thing, can be
had without cost to-the people, it is a
self-evident absurdity to make the peo
ple pay a heavy tax for somebody's
promise to furnish that greenback on
demand. The argumenti, we take it, is
unanswerable.: But . o'e - remedial meas
ure, sir- iieaclily deduced from -this ar
gument, to substitute greenbacks for
the national notes, to let the cheap
actual thing promised take the place
of the expensive promise, is more open
to objection.
In the first place, the practical exo.
cution of the measure is fraught with
great and serious difficulty. The bonds
deposited in the Treasury certainly be
long to the banks. Congress may
withdraw the right to issue currency
against these bonds, but it cannot
compel the banks to sell them. It is
true, if the banks are deprived of their
currency they may be forced to sell
their bonds from want of money, but
they will then sell them in the opan
market and get the current price,
which is far above the nominal par.
value of the bonds. If the Govern
ment declares its willingness to buy
the bonds of thebanks at market price,
who is to fix the price, and which mar
ket price is to be taken—that - tic the
day when the law is passed, or that of
the day when the bank surrenders
its currency, or that of any other day?
And if the government buys these
bonds at •market price,* paying the
heavy premium on them (what injus
tice .to other hondholderi!), why
should not the bonds of the banks alone
be redeemed ? Or if the banks are
compelled or allowed to sell their bonds
in the open •market, what disastrous
fluctuations would result from the sud
den or oven gradual sale of such an
immense additional amount of securi•
ties ! what loss would result to the
-banks and to a thousand •other inno
cent holders !It is very easy to say the
banks shall call in their currency, • but
do they control it ? It is in the hands
of the people, who want it for their
daily business transactions, and who
will not tako the trouble to present it
for redemption, unless compelled by a
threat of depreciation. And what ef
fect would it have on the business of
the country if- the national currency
were suddenly threatened with depro•
elation? Why, every bank and pri
vate banker, every merchant or retail
dealer, every manufacturer in the Uni
ted States would bankrupt in loss than
a month, and thousands of people
thrown out ofemploymont and brought
to the verge of starvation. A cry, of
distress runs throught the land at Mr.
McCulloeh's persistent contraction of
four• millions a month; but to compel
redemption . of the national currency is
equal to contraction of three millions
in a day. We could fill a column with
the enumeration of practical difficul
ties in the way of the measure propo•
' sed, but the practical difficulties rarely
trouble visionaries and demagogues.
We have said that the practical dif•
ficulties in the way of substituting
greenbackS for the national bank notes
will prove very serious, and, perhaps,
insurmountable. We now propose to
show that the object sought to be ob
tained by the proposed substitution
can be batter obtained in a different
mention The real cause of complaint
is none other than the excessive cost
to the people of the currency furnish•
ed them by the national banks. If the
batiks desire to retain the business of
furnishing the people With money, let
them offer to do it at less cost. Tho
banks now get seven per cent. per an
num on their currency from ' borrow•
ere, and seven per cent. per annum on
their bonds from the Treasury, or the
people are at largo. Let the banks be
satisfied with seven per cent. per an•
num on their curreney, and three per
cent. per annum on their bonds. Let
the National Bank act be amerded so
that on all bonds deposited in the
Treasury as security for national cur
rency only one-half of tho usual inter
est be allowed; or, in other words, that
the banks bo required to pay into the
Treasury one-half the interest on their
deposited bonds in return for the privi:
logo of issuing their• currency. They
will still make money out of the privi
lege; not so much as they have been
making, but fully as much as the peo
ple are willing to let them make, and
much more than they will make if the
privilege be entirely withdrawn.
Business throughout. the country is
in a very uosatisfactory condition. The
natural reaction from years of waste.
ful national and individual extrava
gance is aggravated by the wretched
condition of our currency. The cur
rency can only be made wev3e and all
its attendant evils intensified by vio
lent changes now . . It is not to the in
terest of the banks or of the people - at
large that those changes should be on•
forced ; but enforced they will be, un.
less the banks - tineet the popular de
mand-by voluntary concessions.. The
feeling pervalle - s - the community with
almost perfect Unanimity - that , a law
whichi gives to- the national ban kslon r
teen per Cent-interest on their. Rapital,
in the .midst of general'' , depression in
business, is an anomaly and absohitOly
unendurable The difficulties in the
wayof substituting greenbacks for the
national notes, and the indisposition
to tamper with the currency now, in
cline the peoplo. - .to concessions. Let
the banks meet them in a similar spir
it, and they may i still eve, a part of
their valuable privileges; if not, they
.will lose the' wb ale.
Many people, ospeoially ladies, corn
plain at this season of the pay of gen
eral weakness,and debility., Tho use
of Spoor's Port Grape Wino prevents
this. The wine is said to have a most
wonderful effect in. - giving strength,
vigor and tone to the whole system; it
is extensively used by ladies nursing
or about to nurse infants.
Parties from London and Paris order
it, appreciatin , * e it above French wines.
It is said to be unsurpassed for sum
mer complaints and for weakly per.
sons. Our druggists have obtained
some direct from Mr Speer. The price
is low for so excellent a wino, and
every family should have a bottle in
the houso.—,Philadelphia Press.
le-Fairbanks' Standard Scales have
been before the public nearly fifty
years, so that any lack of merit would
long since have been discovered. But
every year has [Wiled to their reputa
tion, and they are now known as the
Standard throughout the world. At
the great Paris Exposition they re
ceived tbp highest premiums.
Pen .and Scissors.
The cost of registration in Virginia was
$239,000. - The cost of the military establish ,
ment in . the State for the last five months was
five million dollars.
The Roman Catholic Bishop of Liverpool
has ere zted. an excitement in that city, by
preaching against low-necked dresses. We
thought they had gone out of date long ago.
. -
General Emory has leaded an order dis
banding all irresponsible military companies,
black and white, organized in tho District of
Columbia. This has been done under the•
special instruction of General Grant.
If a steel pen is too stiff, stick it into a gas'
flamo for a few seconds ; then dip it into wa
ter, oil or tallow. If a new pen is greasy,
put it in the flame for an instant and the ink
Will run.
- -
It is reported that a negru plot, to 'kill der-•
tain white and colored men who voted the
Conservative ticket in Virginia, has been dis
covered nearLynehtiurg: , It is also said that
the negroes are debating in Meeklingburg
and adjoining counties Whether to seize the
lands on the first of-Janurry, ; if they are,not
given them.
Official majorities from twenty-one counties%
in Kansas, and reported majorities in six:
others, the moat populous in the State, give
the following result: For negro suffrage,.
5,995 ; against, 13,558. For female suffrage,.
6,043 ; against, 13,495. For disfranchising
disloyal persons, '0,253; against, 8;603,
The Washington frioilds of the President
say that the dignified and pacific tone of his
last speech is a fair indication of the course
he intends to pursue toward's Congress dur
ing the coming session. They further add
that if Congress will confine itself to legisla—
tion within the constitution, Mr. Johnson will:
avoid taking issue with that body,. and vrilll
endeavor to create - a spirit . of harmony be—
tween the branches of the Government.
NEW ADVERTISEMENTS.
A GOOD LIMESTONE FARM FOR
SALE IN FULTON COUNTY.
The subscriber offers for sale a good Limestone Farm of
225 acres, a portion wol! timbered, situate 9 miles front
McConnellehmg, Fulton coun ty. no improvements or.
a log Lome, log barn, and other out building". There is
good orchard and saw mill on the premium.
0020.31* ' JACOB 1100 BR.
AR kl AT " - PUBLIC' - SALE' IN
I - 4 1 •
TROUGH CItEEK VALLEY. -
Tho undersigned will sell at publleslla on the premises
ON FRIDAY, TILE Gm DAY OF DECEMBER NEXT,
at one'o'clock p.m., a farm of 107 acres situato In Trough
Creek Valley, about 2 , miles welt ;of. Camarillo, 2) acres
well thnberod and 20 acres good meadow. The farm is
meetly in clover, and allay to till: There!. a good young
orchard and plenty of conning water ion the pluming,
and a good spring near tho dwelling. Tho improvements.
are a good frame MUSH, log Barn, drphoume, granary,
and other outbuildingi.
Terms made knun•n on day of halo.
Deference: D. Walker, Airy Dale, lluntiniadn' county.-
n02U•30 SARAH 1100 ER.
JUNIATA
STEAM PEARL MILLh
HUNTINGDON,' PA
rfIIIIS MILT“is a complete success in,
tho ninnuilictitre of FLOUR, dm. It line Ilatily:been
thoroughly repaired and to now in good running order
and in full opuration.
Tho burrs and choppers are now and of superior goal
ity—cannot he excelled. And WO ore 'gratified to know
that our work has given entire satisfaction to our costa.
•
more, to whom wo tender our thanks:
Wo hare in our employ ono of the best millers in the.
County, and a faithful and capable engineer. Thus equip
red and encouraged, ore are determined :o persoyere in
our effot to to accommodate and please the public, turning
thereby to merit and recelvo'a ilboraf share of patronage
to ewutin us in our enterpriao for the publiO'intero3t.
%I Imhof price paid for the different kinds of groin on,
delivery. - . •
Flour and Chop, on hand, for sale. •
JOHN K. 31c6A11.4S to SON
Huntingdon, Nov. 20, 1807
OIUtISON'S COVE FARM FOR
I_lll_
This Farm is situated on l'ipoy Creek about four miles
from Williamsburg, adjoining t pringflold Formica prop
erty. It contnins 105 AOILES,'of which about 25 acres Ii
young cbestn ut timber, altunder good fence.
The intproecinsti Is are a first class DARN, nearly new,,
with Wagon Shed. Corn crib, an.; a store DWELLING
HoUSE, also now; log Dwolling„large and wall eolectod
. .
Orchard, ale., ate. .
There is ugabminlant supply of water by : menns of cit.
pacioui cisterns which Iu sown years impatience bare
error failed In furnishing all the water required; also by
the creek which bounds the farrn.
Further pa9lculare may bo ball on applicattoa io the
undersigned, reeiding in Huntingdon. ,* ;
Huntingdon, Nov. 15, 1867
VALUABLE FATAL. AN PUBLIC,
SAWS.
Tho subscribar will sell at public 81,1 e; • , /*.
ON TIIMISDAY, DECEMBER 1212, 1867,
A valuable FAltll situate in Lincolc township, Ifuni
ingdon miunty, - bouudecron tlio salt by lied of intliarn,,
Entriken; hu the south by laid ofLimorge Lynn, and on
tho north and wait by the ltaystown Branch, (and
in threi-opiarteis of amilo of Eatrikon's Bridge,)
taining 280 ACRES, about 200 nese! el Which cleared.
and in a good suite of cultivation; the I . M.lahee. welt tins,:
bored.
The improvements urea large DWELLTNtIi_ lIOU E,
convenient for two families, a iargo ihnik;BAß.L.and all •
other outbuildings. Togethor with necessary wate'r-fa.l
edifies, not candled by any in the cohnty - for - COlfreal!
once and a good Orchard. • - ' r%• - ) t
Tho Farm dividil4 in tivo - lrilets, IMving
another spring of never•fadling water peribli.,
For fat ther information Inquire of - ' . • ..
MAO BRUMBAVGII. , •
Near liarkiesimrg, Nov.lB, 1.807-30' ,
FARM FOR ; SS LE
THE undersigned offers a Farm for
sale, being apart of the ono he resides on in Hun
tingdon County. about one mile west of the tow, of Or
bisonia, situated on the Aughwlck Creek, containing
about 125 acres; about 70 tierce cleared and *in a good
state of cultivation, with a good two story log hence,
and 11,, masonry work of a bank barn. Also a young
apple orchard (la trees.) of solo t varieties. with a good'
site for grape culture. 'rho cleared land is good amble
bottom land of an caitern slope 7
TIMMS—One thousand dollars onirtinfirmatieprt
tho'brtlance In two equal annual- payments with interest
secured by bond and mortgage, &pod title will be giVt,
en and possession on thiviirst day of 71prirherti: -
.O:7Y-For further particulars apply to thr snbicriber og
1110 premises. JOHN 11 .111ENEFELT.
MBZ:=I=IIE=MMI
PRAYED AWAY..
kj Two yearling CALVES, one a steer and tho. oath's
a heifer, both red iind %yloite, eirnyeol front the Aranlisee'sr
tho undersigned iq tiohderson township. ahnitt the fatter
port or April. Any inforinatiou qs to their wheieshinitil
will ho rewarded. • 1 •D. GROVE.
n013.3t
DISTINCT COURT Of TUE UNITED STATES, FOR, TUE
WESTERN DISTRICT or PENN'A.
N TILE MATTER OF FRANKLIN
N. BURGHS, Bantwupt, Western Distiict of Penn- .
1,3 ss:
THIS IS TO_GIVE NOTICE: That on the eighth day:
of iNoreniber. 181,7, a Warrant of Bankruptcy was'lssued` -
out of the District Colin of the United -totes for the
We tern District of Sennoylranist, agailiSt the estate of
FRANKLIN M. BUlLtitat, of McUonuellstown, in the
county of Huntingdon, in suit District, who has been ad
judged a Banftrtipt on Ida own petition: That , the pay-
moot of any debts and the delivery,of any property, be= ,
longing to said Bankropt, to him, c or for his use, 0411 the'
transfer.of any property by hint, are forbidden by lbw ;
and that a inset lug of the creditors of said Bankrupt. to
prove their debts, and to cheese ORO Of 111010 Assigueet
of Ins ,estate, nil I be hole at it,Coqrt of tLiukruptcy,ro be
holden lu the Count House in,Huntingdon befur . e, JOHN'
IntLiTIIKItLENE Coq.. Itisgiker for said district, Ori the
II:MOAT OP D1531:3113513, :8t37, at ll,o'cleck,,a.
THOS, 4: IMAYLOY, U. S. Marshal, •
By S. THOS. ELut.lt, Deputy ,
MEM
LOG) ACADEMY., •
A First Class High Sc'hooi for Boys.
Ito location is healthful, romantic and convenient,
seven utiles mist or Altoona, on the Penna. Central rail
road.•
JI/V•ilev.t term begins NOVEMBER 4th, 1867;
Apply to ' • ' It. 11. PULTOii; Principal,
. AittletOwn P. - o.o3lair ed., Pa. •
II: R. BRYAN.