ON THE BESTORAPTION , or , • • , -BTANDARD,fOP VALUE 7 AND THE PROPER LIMIT TO THE "mg. oF, BANK bREDITAS MONEY. • •. • . BT W. P. TATHAM. .4' hiat4a'rd of ;'aloe Must be of Rca rabic?, ` i The evils resulting from abandoning the gold Wlldadard of vahreare so many and so great, that .nearly all are agreed upon the expediency of rd. turning to it. These evils have been so frequentlY dere:abed that It is needless to recapitulate them. The chief annoyance is, that the paper substitute 1a variable In value, and therefore no standard at all forfora variabk etandar&is a=.. contradiction in terms. Bence, no manwho contracts to pay or receive a dollar can know the future value of What he is to pay or receive. , By, the ilactuatiene - "orate value of paper money all time contracts become gambling - contracts, and prudent men feel-coroptilled- to, -hedge their regular busineas • transactions by counter :Operations in gold, which, in New-York alone. are estimated to coat the Merchants there about 100,600 dollars per day eonfailssionst.' Tho Merchants, of course, transfer the tax to the consumers. Every bond, public or private, now'sent abroad, is sold for ;„about 5 cents•in the dollar, to the great loss of the nation; for, the interest is paid in gold,' and the principal, if ever paid, meet be paid in the same 'way. ."'All.tigree is to the expense and annoyance of a depreciated and variable currency., Pew agree in their Method of cure. 'Mho 'Writer thinks, anffwill endeavor to prove, 'that the plain way to return to the specie standard is simply to retrace the steps by which we wan from it. There IS no shorter cut; no deal 'Vet nor easier Way; no royal road. When the first issue of legal tenders was made ' they were, for a tame, nearly equivalent to gold."' It was maintained that !their legal tender chat racter would prevent their depreciation, and hasty minds concluded that they would never de -0,--aproclate, however plenty. This led to, farther issues, until the country became supersaturated with paper money. The natural result took place. The, supply of paper money being superabundant and its circulation forced, the ‘'!llattle fell. Paper was at a discount, or, In othe • ,' , irrirds gold was at a premium, and so it has bee Meer since, changing in value from various el ' camstauces. New, the reverse precess would beta withdraw :`'•and•deStroy the paper, and as soon as the amount ; etuthretaling shoula became insufficient to effect the exchanges needed by the commerce of the ~,Scenntry, and it should become necessary to eup plement it with gold, the value of the legal tenders would become about equal to gold and the treasury might assume their redemption on ' demand. , This withdrawal cannot be instantaneous. It toady be either slow or rapid. The effects cannot be pleasant eitherwhy. Neither can any pleasant method devised of resuming the specie stand ';eird of ivelne. A specie standard requires specie price% and specie prices are lower , prices, and no reduction of prices cap be pleasant during the ;transition. All schemes which promise to avoid the cOnsequences of "the transition from a paper scale of priees to a specie scale, are delusive: Let us „taken extreme cave. :If the whole mass of legal tender notes we re redeemed in gold tomorrow, there would atail lie . disaster. Prices would fall, and those who wete in debt 'would suffer. ln the first place,. the prices of all things exported and all things len ported would immediately fall to the specie value. Then the prices of American products, competing ` with foreign products, would fall. This would , reduce the price of American labor Matt, add then the price labor sof all the moducts of Americen Now, it is certain that if you reduce the prices of an things bought and sold (other things being equal) you diminish the whole value of the cur rency which is employed Su buying and selling. The currency would therefore be reduced, either in volume or in peaty. But by the original su position, the pail!, of the legal tender w its p s raised con se qu en t having been substituted for peper, uy the reduction would be in the volume, and this is contraction. The fall of prices, though inevitable, would not take place ., without a struggle between holders and those who sought to buy; and during the etruggle, the volume of tbe currency would grad ' nail,' diminish, until the country having 'arrived 'w ould specie prices, the volume would ( peat, such as he due to theee prices. To repeat, this Is contraction. It makes little difference whether you begin with contraction or end with It. Con traction you Inuit have if you 'return tallier specie standard, provided that the commerce of otthe country remain the same. If , the com merce of the country should be materially la , created, it, might grow up so, that lie require ' meets would appreciate the currency to the specie standard , without contraction. But this , process would be accompanied by all the sorrows - '-oftontractlon, the fall of prices, and the injury , to dehtorn It would take place very slowly, for falling prices arc not favorable to active trade. - We should: therefore, for a long period, have all the ennoyances of a depreciated and Elucidating currency, and probably an - amount of disaster in the aggregate equel to, what would be caused ily a Mere'repid movement. This let-alone plan would entail the necessity of preserving the printing apparatus at Westi n:ll*e, mikes it were designed to let the paper decay on our hands. The existiug premium on gold would seem to 'show that the commerce of the country would 'have to be increased by one-third of its present extent, and under Ter; adverse clrcumstanceS, before prices would fah to , tue specie standard, end the currency be raised to par, without con traction. it is probable that the beginning et this pro cess %now felt in the frequent spasms which al ' diet the money market. It is no answer to the foregoing arguments to say that we have had•frequent and great eliangts in the premien' on gold without corresponding changes in all values. In the first place, the changes In the values of things Imported and exported did take place &El the value of the currency changed. The great fluctuations of the premium were Ise ' transitory that they could not have their due effect im other things before a new change took place. , There was no etringency in the , meeey market ..hefOre the elm of 1867. Previous to that time we were merely taking up the slack of the rope, .snd did not feel the pull, The volume of the currency, on the sth of Qc ctober, 1868. may be estimated from the debt ~,atatement, of the first of that month, and the re port of the Comptroller of the Currency, as fel- Tows: (See Report, p. 607.) fyeiten Mateo Lesed,Tenders and fractional eurrenes........ ..... $388,965000 held hi Imanke A 4,716,000 essaasswei ..Idationst &Panther bank natal.— eres.eanooo Leseisel4 by banks 11,510,00 $200,833,560 Vercalte in bankr s6o,Mume .yam cheeks held by banke.., 148441,005) ---- st% Mom Tata1.......... ~ .. .•..... ... . r . . st•OalitiLooo .Or, say, in round num bers, one thousand mil lions of dollars is now employed by the people as the Medium of exchange in the United States (leaving out the agency of gold). This is the aggregate amount of money, such as it is, which we all of no have, or imagine we have, either do posited in bards, or in our safes, or in our ;lockets. If it be assumed that this thousand millions of currency is worth 75 cents in the dollar. ingold, the gold value of the mass is seven hundred and fifty millionsii and the amount •of ;contraction ' following table exhibits the dates of the Acte lin k emrielna the tense of Legal Tender Notee, and the deore , SiStiOn AO abOWP SC the premium on gold: pate._ Amount. _ price of Gold • reb.45...0110:10D,100..Feb..T2; tO July. 1.0% . l6o.oooAoo..Jolf,'et. lit% to rob., "eh. 1110.000,000. .Feb ,453 172)4, and fluctustting S up Id lath 3.. 360010,000.. and down to the =Alum P.l' 14:e. 490:00/ , 000t. 0 4 .,/ iirgool3o.;.'Whooo ,ooo t.july. l4, lltbloer cent, Maxlmulh. `,47) eitorieltbearing. 4 . , a t a d lhleypnoupt • 1011$OP.r ;heac/dfe n*c tPeOnr eyele ep 3 e 7 c te e tandasd w e ould wo o yg lieuwltLsueK estsuth f criit tei , dmet t an i d r )04kitir itout ottit7"43- • 1 ' , /` -? '" --- ' ---------'----7----- ' '__,„a *emery to revue thettpecie standard wonld be 0 'Anro hundred an fifty kull li ones_supposini '; bus _Xere tnerintinuelflto actiiin as it lessoW.„ `.O f Iliorlyibisitse *Odd ;Old continue asitetilebsda;., , rioW,'lmitlAile ccitibmellbila of theewhiale Chtsrancy,l , ' lisequisiteln reack the spe cie standard s would •be stiorei thanss2so,d9o,43oos matie.andflenWis' ' , SsA, distinguished:Senator heehndeedfealrelliddh he,relatekte the,!SelialeSlß 'tc.spiebb • liiled , with , .' h expreselone of onest "purporles and jest views. lie desires to "descend the mountain by easy' elopes and gentle curves," so as to "return to specie payments without a crash." Thiel is eldenitahle. ' ':' Ills plan begins by axing the time of redemp tion by law on the let of July, 1871, which is two years and a half in the future. Be dreamed that - the Fringe - of his bill would "fix the value of the greenback note," and thereafter "thie value can be ascertained any day by the ordinary rules of discount," and Shat irregular fluctuation of valise • would thencefortheease by act of Congress. Re ut dreamed, oreoveisthaethe greenback note "will be et par on or before the day fixed for redemp tion by gradual appregiatiOn," and that our peotle win le e voluntaril pay their debts, and by 1 est means "the chang will come so gently on, that the people will a lm ost have forgottenit when it arrives." II 1 This dream assumes perfect faith on the part of the people, faith amounting to certainty. that the scheme would be carried into effect notwith ttending its -inherent difficulties, and the changing temper of Congress. There can be no such faith. It such faith existed to the extent and with the effect imagined by the Senator, so that upon the protege of his bill the value of the greenback would appreciate . froze its present price, up to a value to be ascertained by the or dinary rules of discount, say from 7.5 cents in the dollar up to 85 cent a, the change by the process hereittbefore described would occasion a fall in contrasf ;nearly 12 per cent and a cOnsequent tion - of the currency- fr o m ts present bulk of 11/1,000 000,000, worth at 75 cents in the dol lar, $180,000,000 in gold, to a lesser bulk o f about 5882,000,000, worth at 85 - cents in the dollar, the same aggregate value. The contraction due to the first effect of his bill would be 118 millions of dollars. The le would be of that, and als p o eo o p f the furtherprobabl contractions aware to follow. But it is not in the nature of things that the value of an irredeemable paper currency shall be fixed by act of Congress. Its velu mendke every value, will be determined by supply demandl, as it is now. l The existing supply would be redundant at the specie standard with the existing demand, and therefore it is that you cannot so soon raise it to the specie standard except by reducing its volume. An immediate destruction of the money mills at Washington, and a gradual reduction of the paper outstanding, would be the simplest plan and most easily watched and controlled. Anfgfan, as soon as its operations were felt, would cause violent outcries from those who are interested in preserving the present state of atfaire, or who would be hurt during the transi tion. But it is not probable that the specie standard can be reached by a withdrawal of the legal tenders, without a bbock to all values and credit, involving the failure of all the banks to redeem sir obligations; and the attempt would most ilely result in substituting the bad faith of the antis for the bad faith of the government, as the currency of the country. Therefore, the best plan to be pursued would be to begin thesson traction with the banks, by an amendnienr of the 31st, section of the general benking law, which fixes the proportion between their re serve and their demand liabilities. The amend ment should require them to increase this pro portion one per cont. every month so that at the end of twelve months the two daisies would have a reserve of '27 and 37 per cent.' of biles In-' stead ot 15 and 25 per cent. as is now required. Each bank %sin arriving at a fixed points of strength should be relieved from further contrac tion. The banks should not complain of a law which would compel them to invest In a security to be , made more valuable by the operation, and to col- 1 lust their debts at a time when their debtors were I, best able to pay! - Suers an amendment and the payment of the 11 per cent. certificates, would be enough for one year, and at the end of that time, ' we should probably be able to see the promised land. But this amendment is not by any means All that the banking laws require before they will attend us the best earrency. They now eollStl tete a el stem which acts by jerks and spasms of short duration, but great intensity. From the ettetalshmeot of the system until the close Of 1867, there was never much pressure in the money market,and this continued ease was ascribed to the supposed fact, that the currency being irredeemable, its fluctuations were felt In variations of the price of gold ratner than in a high rate of interest. But prices having ad vanced and business having increased, the real operation of the system begins to be felt. The dangers of the system are felt to be so great that it is even proposed by thinking men "to place in the hands of the Secretary of the Treasury 1850,000,000 of fresh greenbacka, to be temporarily used in critical emergencies." In prac tical English, this would be expressed "to place ,heeds of the Secretary of the Treasury for the time BVltg, 855,000,000 of greenbacks, with the power to manipulate the, market for the benefit of his friends." A system which needs such a supplement needs radical reform, and pith a view of pointing oat such reform let us inquire what system would give ns the best currency, and in the first place, What is currency? what Is a dollar? A dvllur, sneer the specie standard to which we seek to return, is a piece of coin weighing 05 8-JOths grains of standard gold, 01 width 0-10ths are fine gold and 1-10th alloy., The government, by stamping this coin with its image and superscription, adds nothing to its value except a certificate of its weight and One nets, so thet it may pass from hand to hand with out assay or weighing. The ,currency comilets of such dollars and multiples thereof, end also of the combined amonnt of bank note sin circelation, and deposits in banki, both payable on demand i gold coin. A mixed currency such as this, with safeguards and limits to secure the certain and immediate pestilent of the paper in gold on the demand ot the holder, without such demand causing a dledi- GllllOll 01 the whole volume of the currency ley reason of the wants or fears of the payer of the gold, would Polgeos all the beet qualities of the best cunt ec): unlfortoity of value, portability, cheapness, divisibility, etc. The reasons for Including both deposits and circulation under the term "currency" are" that although they are differently created, held and trapeterred, yet they both perform the Bailie fade- Coe sof teems; the larger sums, deposits, being lodged iu bunk, and used for larger payments, and the metier bums, In bank notes, composing the cilcitlatiwn, being carried in the , pocket and used tor smaller payments. Beth represent debts which the batiks owe, and owe to the people. Both are mutually convertible at will. Both are payable oe demand, and not, like credits payable at a Noe e day, revolts d in uncertainty. Both constitute the money of the people, being the means by which they buy and sell all things, and pay duet collect their debts. The differences be tween them are only formal; the resemblances are essential. if we wpuld make our currency scenic, we must treat them both alike. During the debates In the British Parliament in 1844, resulting in the passage of the Bank Charter Act of that year, Sir Robert Pee) held that the currency, with which the public had to do, was merely the promissory notes of the banks pay able to bearer on demand, and that the deposits lu banks wore of a different nature, and mere analogous to what lie called "paper credits." - le therefore dealt with them on different principLis. Let us see with what success. Tbc bank act of 1844 separated the business. of the Bank ot England into two departments,' to wit: the lieu° department, which is automatic, and has every thing to do with the' issue and re demption ot bank notes; and the banking depart ment, which banks upon the notes issued to it by the haste department. The banking department Is entirely unchecked in its opera lions, which are not limited In any way by the bill. The issue department, on the other hand, is limited to an issue of .0.4,000,000 sterling on credit, and a further issue of note to the extent of:the gold bullion held by the depart ment. If the issue department have £10,000,000 sterling In gold,tbey may issue £24,000,000 of notes to the banking' department,• that is to say, 110,000,000 sterling upon the gold on hand, and £14,000,000 eterliegsmon public securities lield by the ite. Pertinent. ;., . , . 11, ~t :,;•; • . >, At,the , time Of...the:lmVsage of‘the act it eras found, by the bank returns of her circulation for the spresent century, that at no, period within that gum s nor even at the times of greatest wife and suns upon the bank, bad the opt ' THE DAILY EVENING BULLETIN-PHILADELPHIA rIJESDA.Y, JANUARY 26,1869. fitsb inglUnk notes been lesa than X 16,009 10 0- )30 2 1Inft: In fact, for their own. convenience or &':iloteessitiee. the people wont aetenat, 4 ,0 :deign which were no*fited forlfeeenq A was, therefore, con edetthat teAle o cpinitancee could the Ecotthe bank d tented in such amount ad:to ignee th4ofi tanda,, ',lng'elrculation below 'X14.00;009 rliu nun , consequently it was coeildeeed'stafef,,te permit tdtd..' , issue;of that amount dnry, of securities , and to 'require alt beyond that bo:'ltpOti gold on band. In concluding bis speectUnpon the introduc tion of the bill„Bir Robert Peel expressed a hope "tbet'the wkdout df irstilialifenTleill" at' letigth" devise measures which shall inspire just mil-% demo in the medium of ./aXellingeVatittlfpnt a check on improvident speculations, and shall in t sure, as far as legislation-can insure;the just re wards of lenuetrY.": _ Twenty-five years' exPerience of: the workings. of the bank act of 1844 pt•ciree that:this hope was. a delusion. It was too much to expect , by any such means to avert commercial disasteri; but the act, al - though it placed the nonvortibilityof the ban notes by the tome department beyond' all doubj, and so far has been of immense benefit, has utterly failed to guard the country *met finan cial disasters, occasioned by overbanking and • overtrading. In December, 1847, Bir Robert Peel, in revievr ing the operationof tho est of 1844. said: "I do not deny that one of the objects contemplated by the act was, the prevention cd the convulsiode that hitherto occurred, * * * "The bill of 1844 had a triTe, object„ , ltsiirYt Watt was that in which admit lthas namely, to prevent, by early and. gradual, eevete and sudden contraction, and.the panic and- con fusion inseparable:from _ But,the bilthad %yip other objects of, id tenet equatirnportatteet the one, to maintain and guainntee the-convertibil ity of the paper , currency' Inter_geold; and the other, to prevent, the difficulties; which arise at all times from undue speculation being aggra vated by-the nee of paper credit in the form 9f, promissory votes. In. these two objects my be lief to that the bill hers completely succeeded.' The act, then,was a partial failure, and the reason is plain. it ,and mecm :the eine lation of the bank upon .credit u ,,and therefoto people who have notes carialwaysget gold for them upon demand. But it leaves unlimited and unsecured the liabies of the bank for deposled. and consequently people cannot always get gold or notes for their checks. In fact, the act closed the window,, bet left the door open. Reason and experienceth enboth teach us that if we would control the currency - by law, we must treat alike both notes and deposits, payable on demand, as currency. • The national' banking acts of the United States have partially recognized this; truth, and they require theta, certain propor ti ons (( 1 5 per cent. in some cases, and 26 per cent. in others), of the cash liabilities of the ,banks, including,both de posits and circulation, shall be held by, the baulta in various paper legal tenders, or gold coin, as a reserve for the prompt redemption of these lia bilities. The recognition Is a great step towards a etable currency. But lot us consider how the present rule works. The average reserve of the banks is nominally something over 27 per cent. of their liabilities; but practically it is considerably less than that, because the 3 per cent. temporary loan cerufi caws, and the reserve funds of country banks de posited with the city banks, are neither of them reserves on hand, bat reserves to be recruited or emergency, and then they may not be tortticom- ng. Assuming the practical reserve at 26 per cent., then four times the reserve will be the limit to which the circulation and deposits may go. Let the reserve increase one million, the banks may increasetheir demand liabilities ' four millions Let the reserve dituinieh one Million, the banks, if at their limit, must reduce their demand habit ides four millions. Or, if $l. party should draw 610,000,000 of legal tenderstroth the bmikqben the banks must withdraw ; n multiplied argon tof currency from the people in the shape of deToeits i . and circulation. 'Recent events in New York have illustrated these truths in a painful way. Let it ba remem bered that the demand liabilities - of the banks constitute the money of Me people ;and it msy be seen how cruelly this multiplying rule may be made to act. In fact, the multiplying rule Is like a multiply Ma reel, and those persona who trust to banks for the irloans trequentle wound up un comfortably fast.will if they be not landed in bank ruptcy. The safemultiplying riile is wrong altogether. a safe rule is, the rule of addition, which Sir R. Peel applied to the eirculation of the Bank pf .fingland, and thereby made the bank note really convertible into gold.' It we should apply this rale to both deposits and circulation, we should have a ,banking sys tem free from financial panics and sudden strin gel net'. tis perhaps impossible to avoid conessercita panics, or the difficulties and disasters which arise from over:trading, and the abuse of credit by business men. Bat Ms considered quite feria ble to make Ptancial panics impossible by so guarding and limiting the demand liabilities of the banks, that no doubt can be excited among the people of their prompt.payment on demand. It is quite certain tbat the absence of financial panics will mitigate the severity of commercial' ° panics. In order to explain the application of the rule suested, we ust go-back to Sir R. Peel. INI • found that there m was a large sum . of bank notes which could - not possibly be presented for pay went. Be. therefore held that to each an amount, and no farther, credit . might safely be used us money. In like manner we will fl wit nd is ' a largo sum of money on deposit h the there banks which cannot possibly be drawn out, and to that extent credit may safely be used as money,and no further. , At one time, in November. 1867, the acti've business of the city of New York rf virtually word have from dearth of money. It - was all needed to settle past transactions. Grass have grown in ' all the streets if those days h d not been shortened. Sterling , exelniuge sold or 16 per cent. below par. . In some cases, goods juste arrived from Europe were returned by the ;first packet, although thd consignees in New Yorkwamed thorn more than anything else,f xeeptmoney. 1 Yet, at that time of greatest searcity, the to turns of the city banks showed— Notes in circulation Deposits =drawn $50,783,45 This amount does not include the notea , of country banks circulating in the city, and con stituting most of the small change. I Allowing for these. and for-the Increased busi ness of the city of New York, it is probable that at this day the money required to conduct the business of that city would be over ono hundred millions at the specie standard. The Comptroller'l 4 ., report for October bib, 1868, gives the deav4na j liabilities of 56 banks'of that city $206;164,90f the existing currency, euivalent to abut, 4150,000,00 1 3 in gold. It may therefore be assumed, that before the deposits and - cit culation could be redgeedi to $100,000,000, the scarcity of money wouldp such that foreign exchange would fall so low a to compel the importation of gold. In other wo ds. the paper money in New York would be more valuable than gold in London, and therefore might safely be left with only a reserve , for re deeming the excess over one hundred millions. This amount, being the trilninaura amount of de.- posits and circulation required by the people of ,New York, we might safely permit the banks to become liable for so much on credit alone, ut any Increase of demand liabilities beyond t at Bhcrald be upon a reserve of gold on hand, doper for dollar. The returns of the New York city banks or December stb, 1868, exhibit— Aggregate of depoeith and circula tion $224,098, 76 Reggriro of all kinds 77,136, ,40 The following table is inserted to show the iilX pungion and contraction of these banks under the present multiplylng rule, and under the sug gested addition rule, assuming their minimumn! to, he $100,009,000. Mel/posed reserve. Possible circulation and depos t ire. Multiplying rule. Addition rule. $77,136,740 $308,546,060 $177136,740 60,000,000 240,000,000 160'000,100 '50,000,000 200,000,000 150,000, 00 40,000,000 160,000,000 140,000, (Hi 80,000,000 120,000,000 180,000,000 20,000,000 80,000,000 120,000,000 . , It Is evident that now the banks are require& to make a multiplied contraction whenever , their reserve is diminished. The habitual conditiont of . Mayor ahem' is one of undue expansionj te which they are led by a desire to make ,large' profits. Under•the existing system, any anarchy of money or credit from natural causes' is In4n i ; r 1 IP 31:1, '4ified by Inc condition of the be,nke find :'f dit4ittit., of the law. The penalty tor nOtetpaystie bane . , Ithtf,deffith 0, theLbank, tlinXiagAirr no fill *live ',White n'tetted„burltipreskflieSe)'WhOlif e lifinn t mt •in a',lflur old #roltor if. ',,,?!:' l'so; ' r',, f Under , eyeterti,--Augg tedi'- to e bank is ;OW not ;tear e diminOon f; 00 reserve 4 wAch ' I would' g •;'Otep.,sitep with the diann4tiobegk! NAlieli Ilabfittles,ad 'they Ott Id filwoysideAd Ahdet feedlots 'from bills iteeliiibre. 4A sdblettYlit money from natural causes would not be aggro.: valid by a further scarcity growing out of the necessities of the banks,and the timidity of note holders Mod depositors. -- - - ---; - _ A demand by such parties for payment would "rift leiseli 'the) whole volume of the currency. The nee of credit for the purpose of money would bb so - limited that great expansions and great contractions mould be unknown. ' ...1116 - ,use of Predit es Money is a measure of economy, and, up to a certain point. ft is bene fetal to a nation because it costs next to nothing, and ; when usedln connection with gold, answers the same purpose; but when the currency con tains tho element of . credit in excess; it becomes •too- sensitive; and, althefigh more" profitable to the banks, it costs- the people so much,-that on he whore?: the nation loses by reason of. the ex gess. _ The proper lintleof credit Is the sum of the notes wnich•will nev s er.be, presented, and of deposits which Will never , be Withdrawn. ,It wee easy enough for the British Parliament, in dealing with one great corporation, like the Bank of England, to fix the issues of the 'bank upon'credit, within safe limitsL but it would be impossible in this country to decide upon such limits for every locality, or to fix limits which the growth of the country might not noon render too restricted. ' Any arbitrary saotment of banking privileges 'would be obitetionable and unsatisfactory, as is now the allotment of the priVilege of issuing bank notes. , It is necessary, therefore, to suggest some relf- Acting,_plan, which would distribute the banking capital; as needeiVilifolfglieut the country; • --- It Is believed that a rule by which the demand habllities'of the banks In excess of their reserve should"be limited to the amount of their capital stock, And be secured by a deposit with the Corplitroller ',of Unitedßtates bonds to the fated funount, and taxed by the government to I'llie extent of'— p,er cent, ,' to be retained out tor Of the intereeit'accrding oil the bonds, Ss a . price the privileges granted; tbgettfOr wlth'a change of the penalty for failure to redeem, or for other violations 'cif the law by any bank; Into a he r of all interest on her deposit of bonds during her delinqueney, rind also' the complete abolition of the usury !awe, which prohibit coo tracts, or impair the obligation of contracts for the loan of money, would furnish a self-acting plan under which the banking busineis could be thrown open to all, free to the banks, safe to the p ch eopleof these and profitable to the government. provlsione demands some illus tration. roller's First—The limit. By the Compt report: The capital stock of 1,64 D banks in October. 1868, was $420,635,000 U. S. bonds owned by banks 414,665,000 Difference e 5,970,000 In this particular the rule would make little change. Second—The security. The banks would hold reserve on hand for the same amount of demand liabilities, and the Comptroller would hold U. 8. bonds for all beyond this: The worst that could happen to the people who were creditors of a faiUug bank would be t that they would become creditors of the United States. The capital, reserve, and liabilities protected by reserve, of 1,645 banks, fu October, 1868, 1 ' were Liabilities.. 0854,947,078 Reserve.. Capital. Difference 099,550,151 To bring the banks within the rule, the capital and reserve would have to be increased, or the liabilities diminished. 7'hird—The taxation. This is the most im portant feature of the plan, for several reasons. It would be a gauge by welch the amount of bank expansion could ne regulated. It is evi dent that if there were no tax at all, the deposit of bonds would be a security, but not by any means a limit. It is c" - ally evident that if the tax were to the full amoilnt of the interest on the bonds; it would absorb all the profits of banking, and if the law could' be executed, it would tax the banks out of existence. Now, between these extremes one which would leave banking with out limit: - and the other, which would destroy 'banking altogether, there is an intermediate rate, 'Which tvoiliffpreserve it safe limit, and restrain banking within proper bounds by the self-interest of bankers. The Bank of England has the privilege of issu ing £14,000,000 sterling of notes, based upon a like amount of government stock, on which she draws 3 per cent. per annum interest, amounting to £420,000 sterling. This is the gross profit of the bank upon her circulation. For this privilege the pays annually to the go vernment the sum of £lBO,OOO sterling, leaving as a profit to the bank the sum of £240,000 sterling. That is to may, of the whole profit, the govern ment takes 3-7ths and the bank keeps 4-7 tbs. It must, hoWever, be 'remembered that the bank Prints ber own !total, at an amnia expense, esti mated in 1844;iit fronr.£ll3;ooo to £117,000 ster bug. This,ingether with the Commissions which the pays to" other banks issuing her notes, itinountleg £24;000 sterling per 'annum, re "daces ' her net piofit on circulation to about £lOO,OOO. By-the same proportion, the rate of taxation upon the bonds deposited would be three-Sevenths of 6 percent. 'in gold, together with the cost, of printing bank notes. This would yield a revenue to the government of from 18 to 21 millions per opium in gold. on the present business, leaving a like amount as profit to the banks, besides in tercet On their capital. D. is impossible to Say betorehand what rate of taxation would Produce a safe limitation, but 8 per cent. would be a good rate to begin with. The penally ,should be exacted without any dis t credo!, anywhere. Then fte to the usury laws. There is a school of financiers in New York who desite an "Elastic Currency," which they would define to be a currency capable of bug apanded or contracted to suit the"requiremeets of trade," They profess to claire that this paper currency may be uniform In value, but variable in quantity. It le believed that these two quali ties are incompatible with each other.' The true way to furnish a supply of money, , to suit, the requirements of trade, is, in the first place, to take security that the thing which we call money shall really be so, and, eecondly,qo repeal all laws hampering or restricting in any wad the free employment of it. No system of banking can have free and healiby action, the usury laws exist, and titigge'etionreir the 'safe limit, 4o which' credit why=be tiled lid perferim the functidnis , of money may be properly folltiftdibY few 'words in re lation to the evils resulting from laws restraining the use of money, and the benefits which-would result from perfect freedom. . I The whole sidelect is so fully treated in the mei:portal andleport of the ts Philadelphia Board Tr ade, and' , the eocumen, aceompanyieg of dated )day 21, 1866, printed by the House of Be preseratatives, 139th Congress,. let &salon, Miss. Doc., No. 124, that a brief synopsis only of that paper is needed. It shows, let, that in Holland thorn have been uo usury laws for 175 years, and in Englarad none since 1854. 2d. That it is impossible to enforce the laws against Maury; inch laws merely haniper trade, Bd. That there is a natural rate of interest for trtotoy. Which varies, ' with the supply and de meta; which,again,dePend uptaa the profits open money employed in other ways than lending. 4th. That the restriction upon the rate of money haft a tendency to drive capital away to' countries where it le allowed to earn its natural return. sth. That the usury laws tend to raise the rate of interest by the cost of the additional risk,!or expense incurred in breaking or evading the law; and by the fact, that the quantity of money eat. ployed in lending, is diminished by the operation of the law. It shows, further, from the experience of corm triee which have been relieved from the restrle- ) than, that,. Tat: 'The batiks are able to discount all good paper offered in times' of difficulty : 1 Exceseive °Beth: l p are checked by raising, the rate, and not, by On arbitrary+ rejection of peper. , 2d. That, in tlmes - of great praiser°, fewer fell ' uretaecenr than had happened ' in similar emer ' getelee Wore the, change, inasmuch as capital is no* perWtted floW freely to the points of the , irabit interisivret4uto.'' oCeraditroltersßetiortexvi‘, 58,087,44 .42,696,0 k $234,761,927 420,635,000 655,396,927 - ad. That the cbangelhirs a" ent.the amount of mot ey employed in tbe, mme !al market. 4th. That. the eate.of int& t. pod Arpoll raert „., ekages remaint., p, u octet:ll,y tit, , n 7... ,oent. changes the; oney,Marketi _.'”- -:;:,,, .L . t . :,,fi:'sllr. That tl‘chto is &Orally opriliV.und '.that a return" ee t the d system won t be deckled' , iik grievance atrOt Oh &drip. rt i i .;,l tit, The wisdocrifol the lala,tAr4 ' knactedtipt, 4, 1 „1 although monr*mit ~ tocellne fell co, li. sha ll Pot' trtcome dear. . I;.i-,,,...„. ,, , What is really 'Wanted le to make money free. Then, a demandin any locality beyond the sup ply,.vottlit raise the of hatemst, - mad - the TWO et the rate would attract a new supply, and make it all more active. The reform of the banking system and the abolition of our usury laws would give to our currency all the "elasticity" which is consistent with uniformity of value. The cry for elasticity ban grown out of the hard operation of the existing system,' which le elaatie the wrong. way. It Millets money super. - ahubdribt 'when not 'wanted, bnt .. - veryscaTee as soon as any real demand meats:'"'' ~ . -' In fact, before the war., when the..bauks %were paying specie on demand, the currency never was practically convertible into gold: , ' The ,eur reney for Which gold''-was actually ,` de Mended, was redeemed and converted Into gold; but,upon •tbaa(Thapd" being made, other - mirtency for Which gold' was not demanded *as redeemed by aktorptum, and ceased to be. So that the practi cal workintr of the system was that the currency was convertible) partly into gold and partly into air. The ex:biting currency is much the darrie,exceM that there is nogold lb ,It iseenvertible prac tically, a poetion into legal tenders,•and the rest into thin air. , ' If the propesed,systeth were adopted, the cur rency, for the first time, would be practically convertible,' After th e return to the specie standard, there would be a smoothnese, end ateadincee, and WOO , in btisidessheriitefore un kootern—Soliflity_irepriente affairs , .would begot confidence in public matters. debtth pinblic ldenable andus to redtieti the • litereet on lighten its • burden. It, is not expected that this system will meet the approval of bankers generally. Their object Is to make money, and the present state of at fairs suits them very well. The government pays them Interest on over 60 million° of their 'reserve." , • , The country banks got interest on neat fifty millions of their "reserve" lent to city banks and re-lent to.stock operators owes& •It is not sur-' prising that they are in favor of ; letting things mend themselves. The brokers, too, are not averse , to a state of affairs which by constant attrition, yields them a revenue out of the national wealth. But for the government to take the advice of ban advice brokers in these matters; Is to take the of interested parties, and it would be unreasonable to expect them to be indifferent to their own interest. There are, however, many among both classes (and they would be found to be the governors of the strongest institutions) who would not be averse to a safer system than the present. The plan recommended in the early part of'this paper (while treating of the return to the specie standard) of requiring the hanks: gradually to in crease the proportion of their reserve to their li abilities, would be the best means of transition from their present condition to a conformity with the new system. The banks might be alidwed to lucre:tee their capital at pleasure. When any b ank should arrive at such a state that the' sum of her capital and reserve should be equal le her demand liabilities, further contraction should cease. After strengthening the banks by this, process. the law might permi the holders of greenbacks to convert them into t 640 bonds, and provide for the final destruction of the notes so received. This act would be operative when the interest on the bonds exceeded the market rate of money, and would cease to operate during a money pressure. The troubles to grow out of an early return to the specie standard are somewhat magnified by the imagination. The shrinkage in nominal values would amsunt to nothing in the absence of debt. - Most com mercial me have debts due them, as well as debts to pay , and they would go far to balance each o th er. 11by a preliminarystrengthening of the banks we should avoid a financial crash, the change could be made with more safety than in any other way. In considering the whole subject, we should not forget , the cases of those persons to whom fixed money payments, such as widow's dowers, annuities, interest,- rents, dm, arranged under the gold standard, are still payable. Upon each persons. the abolition of the standard of value operates like sheer robbery. The restoration of it would be simple justice. The people, with the same courage with which they encountered the horrors of the war, are not now afraid of attacking and destroying one of its annoying results. The conclusions arrived at in this paper. are: 1. Every plan of returning to the specie stand ard involves sereduction of prices. 2. Every reduction of prices Involves con traction of the currency, either preliminary ,to it, or consequent upon it; except one pian,which is a lorg and dreary waiting until the demands of commerce should increase, seas to require a currency of the existing volume at the specie standard. 3. That this do-nothing policy would merely lengthen out the agony, and copid not avoid the reduction of prices, nor its consequences. 4. That the safest way to contract the currency, is to with the. banks, and in a strong begin position . and to dealplace withthem the leol teeders afterwards. b. That the present banking system is a dan gerous and oppressive one, owing to the false principle contained in It. 6. That the proper limit to which bank credit should be employed as money is the sum of the deposits which never will be &awn oat, and' of notes which will never be presented for payment. To use more credit than this• in the currency .inzikes it too sensitive and elastic the wrong way. 7. That all depositeor bank notes issued be yond this limit should be upon reserve in hand, and nut upon credit. 8. That all bank credits employed as money. either in the shape of notes or deposits beyond the amount of reserve on hand, should be limited to the amount of the capital of the bank, and ge cured to the full amount by a deposit of Units d States bonds, which should be taxed by the government at such a rate' as to.keep such credits within the proper limit. 9. That a complete abolition 'of the usury laws is necessary to .8 correct financial system. 10. And finally, that the people: of this coun try, who cheerfully endured all the dangers and hardships and burdens of the late war, will not now shrink from the comparatively easy task of 'removing one of its evil consequences, , namely, the destruction of the atandard of value. , Philadelphia, Santrary, 1869. , sikiEclAL risolriuiPts. • MR. DARNES'S SERMON ON LIFE AT THREE SCORE AND TEN," For Sale atthe Presbyterian HOLM; No. 1831 Cheothut street. j M. analip• INSURANCE COMPANY OF l'clE STATE OF PENNSYLVANIA. JANIIATLY The annual meeting of the atockhohters will be held at the Company's office. Nos 4 and 6 Exchange Building, on MOND"Y. February 1.1869, at 12 o'clock. noon. WILLIAM LI ARPER, 35V-6te Secretary.. CONT-------NELLNIVILL----E GAB CUM. COMPANY. -Puct.suxLrais.Jan. 22, 1801 The Annual Meeting of the ntockholders will be held at 0 their office. No. 8106 Walnut street. on M0N0.2.2. reht rv usrz tor the 8, 1869. a ensu t 12 i o'c year oclk M .. to elect live Wrathy 144 e ng . NORTON JOIINBON, tiecretary. ja23 eamweti) OFFICE 'HUNTINGDON AND BROAD TOP 1 145 :r MOUNTAIN ItAILRvAD COMPANY. 417 W 1.1.• 14 la ATREET. `Porr.anirirtna, Jan. 18th, 1569. The annual meeting of the Btockholdors of the Runt• inadon and Brood Tap Mountain Railroad aid Coal Com ny will be bold at the Office of the Company. No.. 411 WALNUT Arcot, Philadelphia, on TUESDAY, ebrnary 2d. at 11 'O'clock, A-. M.. when an olection.will be hold for a Prtaident and twelve Directors to oervefor the enatdog joiey ,p. AORTBEN, a to th trifle Secretary. ultlp. ----liff.FE----Ile THE 1301113YLKILL NA.VIGA '"'" T1 ( 0 ) N COMPANY. NO. SU 'WALNUT' TRE. 11111.ADIWPIIIA. Jenuarr 12 , Ira , romp is hereby given tont the Annual Ideation o the ' Stock b olden and Loanholdent of gas Company., and the - election of Officers for the ensuing, year , will 'he held at . this , .oMo° on TUF.BDAY , the ninth day:of .February -I.(1 , at 11 o'clock A. Al.' W. M. 231.4111 MAN. ilecretary. 1P.12-tu th a fedil • - . ' , . . s i oir i NOTICP..---OFTTCEI MUCK 31.ClUNTA IN ( . 16:111- 2 . , ~‘... ~,,,,,,. 1 "-" . r.f'"'" 4 ° • • . j sway i5t.1262 • . ' Pnri.sintr.tura. iiik .., ._ _ ..., The annual Meeting of ' tho stockholders or tag num : Mountain Coal Con:marl a ill be he1...,t1 a e.n t t N he ea oill. s c A e l ie , r t o li tl. e company. No.,' t ..% Metall , . oh., 9/. 3 1 .,‘,""" - t - -1-',.f. , - p,. runty Sid, 1/139, nt 11 o'clOck A. ps. , An de tti o n. my. , kesen directore to. coro n a .the .eitanhail year will be held on the Caine day. Perigee t he Aionre o 111 A. rd and 2P.M. t. - T. ii, Tll 1 . X011 , R, , ,- ~ kincretary. Jet 1. rr, tu 10t* •/ r . D tr,; I L U . o.oll''..ialD GORILLA ,HUNTDiO; • • - •,/: ,1 a 4 - • '.. e on, yc IN EQUATORIAL AFRICA. Xlc.'R,iklit.,tliDtfOßAlLLEl will give ONE LEUTUILIZ on the nbneo tittbjitt,profneely illustrated with Pala' nlO4 an. and desiribinghlkunique and thrilling adven tu res in Africa. at • " CHESTNUT STREET, , AytovE TWELFTH, j3;.rtFar. MONDAYEVENI&G. February Ist. 1869.- Tickets of Minthisien. 60 goti6; .itesertekoo4o4§erits. The Bale of Tickets for Reserved dean will take Place at TeUMPLEIPS. fl2tl Chestnut street,. ost Wedpesdai. Tbuisday and Friday of this week; where aim a faecal TvAlcalt VOUPOlpapirly be 1:m.3,410d , si the &fall the eveuttei of we Lecture. , . a istiAt• ser - ANNUATMLETING OP= TOO- , HAYS FAkM OIL COM ANY wilt be bold at the Wtth aril' Douro. lisitsom. above Slithton FRIDAY. SehruarY 12, at O'clock, P. Id. 1ja85.11A9 J. B. WADE,l3offetan. afis. PHIDititELPEIFA "*"••• Railroad Compatty.—Tha - next trial Meatina the Stockhoidan of thu Company will held in the. Mall of the Delaware Cortaty ,Institate Science. , in the Morough of Moab.: on MONDAY. ' tbelth'dare Sabra. ary. log). at 11 o'clock. A. M., at which timo and place en eleo ion will be held for ofticers to , servo the sionista Year. rlttitre c ip f l t its., e .1411. x. h oard. A. LEWIS SHIM J'a"b at eB{ necrelaiy. skr , PITTaBINVOTI, Cit 4 CINI4ATI AND RAILROAD GOas PANIC. firgasintrnza. 0.. Jan. 18. eta 'NOTICES la ' hereby anon to the Stochheildera of the Fitteburpb. Misclunati and St. Lotds hallway Company to meet at. lim office in litenhenville, 0., on. AIONVAL. 'February In. 1848.'bersnext the hottra , Of KO 4 teclont P. M., for too purpose of clotting TtiligtfiEN DARPA:TORS to terve for the ensuing year: and for the traasattion of nth other business as maybe W& before ahem. J.O. MAW& /Secretary. )a7l•tfel tar OFFICE OP rKilB FREEDOM IRON &ND r, NO, too toura THI RD. , STBRET. ‘• • reetutriiir.rni4Janntiry 20.1839. The Animal Meeting of the btockboldors of the Veers dem Iron and Steel Company will be bold at the office of thelieniinsiny:No._l3l) : Routh-Thir d street . Philadelphia. on littilli3D.dY. Febrility - 4thilbeic - sit - 111 - Veloalt:M. v hen an election will be held for Directors to servo for the awning year., The 'Mader Book' will be, closed for fifteen days preview' to the date of holding said Oleo. Don. VASA& WEISTI)ri, . .jallt fel§ hecretary. „ , ser cs iIII NoT T i: TO HE lIOLDERB OF T 7 PER EMT PHILADELPHIA. AIM ERIE BONDS. PAIED,OtasT lit. IESb. Pirmansuenu...lsui; The Philadelphia Mad Erie Rallroad Company ore now prepared to exchange,. or purchase from. the holdess thereof. the Ronda of said Company dated le t de/ of July. 1865, Issued tinder anther*, of the Act of Assembly sp. proved March eth, 113415, and will exercise Abe ,optlon of hityltrit tholooltgage securing Rio exam .to per mance of the agreement and condition endorsed en said bonds . 6P.0. P. LITTLt. Treason:a ED Walnut street._ 151836t4 ser THE PARMEP , S • AND EDII.ANDIr 'NA TIONAL BAWL • SI • e ..; ......., . P111.1.A 2 ,11.1.111A• Jan. IA Imo. At an election hellion tha-l•th... day of Jarman'. 1f a. the following named dtuckhdldens are elected DireetOrs of this Bans : Pawn] M. Lewin, Jorbas D. Lippincott, John Aehbuht. .L Edward Fannin].. Anthony J..antelo. George W. Farr, Jr.. Benjamin A. Parabola. Will iam U; WoedWard, Fratirla Tete, Charlet IL lintchintam. Lindley Sml th. II curs , P. !Sloan. Richard C. Dale. And at a meeting of the Directorsre-electe this day. P EresidenD WIN M. LBW ID. Eq.. was ututnimounlv d t. Jall-leti W. RUSHTON. Jlt , Cashier. ' ter I.X.4I.6IONWSALTIL "" Man election held on the tlemen were elected Dir Chita. ch erten. V. P. Mitell. L. N.ifturronalia. W A. Bolin. Peel P. Heller. Jno. Wanamsker. And at a meeting ot the B F. NOhTON.Ece..wne • )05 Or N O XL I 7 ( 111Liffi l :firi d nItilitt l ir Mri reitaru.rute. January 16th. Ink NOTICE. ~ _ _ . .. the Aimual Meeting of the ntocinsolders of the Tre mont Coal Company will be held at No. 33 PhilaielPhis Exchange, in the Lily of nbiledelphle. on TLIExtioAT. the tecood day of Eetounry. et 13 o'clock,_llf., et which time and place the Annual Wootton for rrnldent end Directors to serve the ensmng rem will GO heheldi x IL Q. ET. 1a1.301 Beerefeel. . nair- THE BIG MOUNTAIN IMPROVEMENT COM PANT . ..,,. ... PILIZAXISUZERA, Jam:Lary 141 b. imk The animal meeting of tha ntocineleent of the "Bie Mountain Improvement t'omPanY" will he held at their office, No no INalnut etreet, on fttON JAY. tbettret der of February next, at 4 o'clock P.M. when an electton I will 113 held for Sae Directors , to eerie for the areminit , yeet , 1 he ?render Books will be tinted frets Monday. 26tb lent. to Monday. Ist prox . both dare inclusive ja18.120 W. r. JENKS. President. wi r OFFICE OF TIIE'LOCUBT MOUNT EN 00AL AND molt COMPANY. rattan 'struts. Jemmy 9,1808 The annual niectina of Abe btockholders of we Locust lilountaln Coal std' Irunt Compax,iy ho held at the office of the Company. o. 200 Third autism MON DAY. the tint day of February nest, atlll o'clock, WiltD laltieCtlOU will be held for Diteet4o spwAsi) swim COMMERCIAL EXCHANGE Or PIIILADEL sor yhts.—The annual meeting of the Commercial Es armee will be held on TUESDAY. jaw nib. 1360 ho Annual Report of tho Board of Managers will be read et 113do'Cloch. • The polls will brooms from 10 n.,11.50 3 P. M. for the election of caws weave for the ensuing Year G. IL Tusem.i. !Secretary. wsin- OFFICE OF VIP. 'HUBRIS CANAL AND IiANKINO COhLPANT. Jangler Ctrr Jan.l4 WS. Notice is hereby given that the Board of Director have day declared s Dividend of TEN PhD CENT. on the amount of h o Preferred stock. payable In scrip, redeems ble in twenty years from the ant day of ffebraarYnalls bearing tntervst at the rate of severt per , etlif-Per an num, payable selbtarinnalb - . upon the first Tues day of August and th e first Tuesday of Feb ruary . then following. Certificate!! ,of this Scrip will be delivered to the bolder* of the Preferred Stock on the fire TUESDAY , (the gd) in Parc ary next at the Office of the Company. In Jamey City, and or the Office of Id. W. CLARE & O. ,•in Philadelphie. to eimh dteekhOblers resident to and near that city. • ' • The Transfer Boob' will be closed from this day until the eecond day of February next. jatetle3.l) JOU ssi N 110DGE, Secretary. OFFICE 4 , F Tuu NORTH. PENNSYLVANIA RAILROAD. CO APANT. 11IIIADEIX.1114. NO. 401 WALNUT STREET.. Janos - 11v o, IND. DIVIDEND NOTICE, • The ?render Doak" of this Company will be-closed on SATURDAY , the fh lost lit II o'clock P. and will be reOpened on eATURI)AY, the leth inst. A Dividend has this day-been declined of FiVe l6) Per Cent., clear of taxes, pay Ale in scrip bearing no interest, and convertible into Seven Per ; Vend. Mortgage Bemis cif the CrannanY, in thins of not Ws than Elundred Dol lars. on and after Nay Ist next.. _ _. The said Dividend will be credited to the Stockholders ILP they shall stood registered on the books of the Com. winv on SATUNDAV, the etti inst. (signed) , WM. WISNER. jai' tie§ , . Treasurer. Roar THE DELAWARE AND RARITAN CANAL •""" COMPANY, AND THE CAMDEN AND AMBOY RAILROADt eAr,ND TaAN 3PO 89R,_ TA h T COMPANY. lON a o ove nda tlari Neb o Ja L uar t 6,, e tB,are h en er t s ed to ff s dividend of ME (OP. It CENT., payable at 11l Liberty street, New York. or WM South Delaware avenue. Pbila- BIGHAIMsToorrqN. . • Treasurer. PIIILADELPDIA AND,RFA.DING RAILROAD "Or COMPANY. 0D10,221 9. FOURTH street. Dec. 30.180 a. . . `DTVIDEND LIUTICE The tranefer imolai of thin Company will be closed on the 4111 of January next and be reopened on Tneedatr January 17th. A Dividend of Five per cent. has Wilt declared on the Preferred end Common Stoek.chier of , ethane tinekthater 11 axes. t,ayitble in Commen Stock on and after January 7Ltb 1889 . to the holders thereof as they shall stand reels tei ed °tithe JLitiolta of the iiomvany oa the 4111 ot January next. All payable at this office. PtrlAll ordent tor nividende must be win:mined and stamped. Ilea° lmf B. BILS.DEORD:Traftefir" or. s i r O ` T IC E . WEST:: . .IF,RBI6IY. RAILROAD OOMPANY, OFFICIO. OF THE TItEABURER,. • ' Cannes. J. January loth; 1851 "The Board of . Directors have this , day dealstretta Semi- Ann ual Dividend of FIVE PEtt CENT.. clear orriational Tax, payable to tbo stockholders of this d 1589ats,on and at the after WEDNIttODAY. ,the. 8d day of Fehreliri. . Trea,urees'Ofticti in Camden.' Tbe steer. transfer books will be closed from the dato hereof until the 4th day of Febniary. 1869. ' ••' OFARGE.Z. ROBBII4d,_ js t fQ4 • :Trimaurer W. J. E. 11..00. NOTICE. PDIVIDEiIILADELPfiIti AND.TRENTON, RAILROAD COMPANY. Office, 224 Beath DELAWARE avenue. ,- , . Plittoinni.Pl3o , .. Jan. 20th,1862. The Direetera haie this day 'deelared a semi annual dividend bf Five (5) Per Vent. upon the Capital ock of the Company, clear of taxes, from the profits of the six moathelending December Met, 1855 ; PoYable on and after yob; nary:lste:lmo, toehe holders thereof as theY stood registered o nth ahooks of the' Company on the 15th lust J e w itt4- ' A4 Z;PAIIKER CiOttltld„--Treasurer. 014 T OR INIISLAID-L-PERPETUAL POLICY No. 5.608 iJ leaned by the Enterprise Flre Insurance Company on HENRYd.'2I_EVREEN streot, now itethe name of W. TYLER. AnY , persort- having said Policy will please return to the above address, Reapplication has boat/ made, fop Anew one. . „ Jal9 tu th e T ORT OftqIthiLdID—OERTIFICA.TE OF DEPOSIT Jut fr et coin , Eacharige National Bank, No 516; dated Slay 1 85 1881. tot Thirtyetwo thindrad' aid lorty-two WOO 242'82) dollars, to the order of jO3: Itt Paul and W. uvenal jointly. All persons are cautioned rajah:wit , negotiating , tho same; payment „having been stop e , de99.tu•ht• -- . QUEATEIING FELT FOR BAL.—TEN (10FRAIRES IJEngliati blumthing Felt. by yErER WRIIikIT Ac, 150N0415 Wattle, Area; nol7 it , • &i~.`{ ''CONCERT liaLth NATIONAL BANK- - . inzi.rula. January 1.5.3kal 13th inat., the fallowing 'gds are of thla Bank: C. IL Ouhtll4, , .' Theo. Wileon. IL W. Qtliy. BACIEMeI K. likahton. elm. F. Liar aell, It‘bert B. Blerllne. oard, held this day, Cherie+ Limously meleeted Pre/Meat ILL U. YOUNG. ()ashlar. DavwEx~ cWaEa. LOST. Titusexatiratav reinytge W. Oris thousand miles of liiOnßin Pacific Rail- , road are now finished and in operation„ Tim health of Gov. Geary la improving but he is not yet able to attend to business. Tun bit in dgettA r cirkintsestrlidk higher,. vitaileb;,s, ,r ftl, SisriAxon Monnow B. Lawny had an attack of aralysis yesterday. ONit thousand distilleries are in operation In the UnitedAtates. CoirinAcrirhave been - niade for carrying the malls between Sydney and Panama. BEVII.LE and Cadiz, it Is said, have proclaimed ,n favor of Duke de MOOPeluder for Jung oAminft M. Al DREws was 'arreited at Buffalo. on Sunday afternoon, charged with issuing a largo amount of forged checks on business men. E. El. BAsitiAve, postinsaten ..Pottland, Ore eon, hasteeti sentenced to twelve years laiprfs: onment for robbing the malls. -- Tuatonse of ex-Sheriff King, in Robertson, county, N. C., Wail attacked , by „robbers,: and A. Z. Ward, a visitor at the house, was mortally wounded. BLAISDELL AND EeKELI,COLIVICted in NOW York of ddrAtididleilte.tteiterimienitif" the Whisky tar, weroletteMay sentenceireaeh to thtee years' im prisontnent in the Penitentiary. Joim WHALEN and wife were fearfully burned in a basement house in ,Sauds , street, Brooklyn, on Sunday" night. They went to bed drunk, leaving a candle burning near the bed, which ti oon caught fire. Tun steam-tug Hercules ran down a small boat in NeW....York. barber, yesterday morning, eon, tainini s Capt. Osborn, of _the ship Warenoutti, with - his Wife and sister-in-law. The latter, named Mies`White; waldrowned. Almon; from tiatt Domingo via St. Thomas statc ! .that ;President , ,Bset has sold theisland of Alta. Vela to a French company, ignoring its previous sale; that the &mail Consul hael_pro tested and sent for a'war vessel, and that Baez had entrenched himself in his capital. Grin. BTUNEHAN has appointed a board of three gentlemen at Richmond, Va., to investigate and report upon the qualifications of applicants for Thus far 721/ officials have been removed for political disability in 'Virginia. leaving about 3,000 in e lig ible to be unseated. Imo Case aft she oprglisa Senator. Tho Judiciary Committee of the Senate sub mitted yesterday a resolution recommending that the Hbn:lostins Hill be not admitted as a Sena tor foam Georgia. Accompanying the resolution is a lengthy written report reviewing the events in Georgia, political and otherwise, from the date of Gen. Meade's proclamation declaring the adop tion of the Constitution ap to the present time. In coneldefingthe matter the committee says : The case of Mr. Hill depends upon three con siderations - Firat—Dld the Legislature of Georgia, regu larly organized In accordance with the Constitu tion of the United States and the Constitution of Georgia, duly ratify, the Fourteenth' Amendment, and comply with the various conditions Imposed by the act of January 26 1866? Second—Have the Legislature and the people of Giorgio., subsequent to such compliance, coat milted such acts of usurpation and outrage as to plath the State iii a condition unlit to be repre sented In Congress ? Third—Whtther, in the whole case, taking the action of Georgia, both before and since the pre tended ratificatioh of the fourteenth amendment, a civil government has been established In that &ate which Congress ought to recognize ? These questions must be answered by the law and the feet& The committee then proceeds to quote the pro clarciatlot.• of General Meade, calling the Legisla ture together ' and his correspondence relative to the eligibility , of certain of its members, and also reviews, at some length, the action of the Legia lawn) itself on the same subject, and expresses the opinion that doubt exists that the number of disqualified Inembera wnstarge, but that all of those members who were allowed to retain their Seats did so In direct violation of the Fourteenth Amendment. In the electicin for Senator, Mr. Rill received 110 votes; Jos. G o Brown. .94. and` Alexander 'AI. Stephens 3; - 'arid it is extremely probable- that this majority re ceived by Mr. Hill was , made up of members who were disqualified by the Fourteenth Amendment. The committee next refers to the exclusion of the celortd reembera, and states that it is not possible to hold that no remedy for this wrong fir in the* power of Congress, a wrong by which more than one-half the people of Georgia are deprived of the rights and privileges to which they are en titled. In regard to the condition <of affairs In Georgia, it Is believed to be one of anarchy. Tee committee, learn from the, agents• of the Freed men's finnan, thet in,, that State there have been three hundred and • thirty-six cases `o murder, from January 16, 1868, to November 1, 1868, and for all those outrages there had been no legal redress, and the civil government has evinced its total inadequacy or its total unwil lingness to protect impartially the rights of all the citizens; and under all the circumstances the committee have come to the conclusloo that Georgia Is not entitled to representation in Con- green. Mr. Hendricks, the Democratic member of the committee, stated that he *voted givehisviewa in opposition when the subject came before the Senate, having been prevented by, ilineas from preparing a =lnertly report; ' , • „ The Chairman of the committee, Mr. Trumbull, submitted a minority report, which is also very voluminous. He quotes .from the official pro ceedings in Georgia, the lettersof,General Meade and the orders of General Grant on the question of the eligibility of members of the Legislature, maintaining that Georgia was reconstructed ae:. cording to the prescribed fortes. He also quilstes the act of January 26, 1868,1eclaring entitled to representation in Congress and as serts that it is not Competent for the Britian:tuba to exclude the representatives of Georgia. The unfortunate difficulty between the Freeldeot And. Congress was concerted on this very point, the President holding that each House must decide for itself as to the admittance of its own members, and Congress holding that the two Houses conjointly most pass upon the question of representation, and Congress had rettereted, this position. thingreas having declared that Georgia Is entitled to admisslon, it is not corripoi tent for either House to refuse admission to. the regularly acereditea Deresentstives of that State, The Senate has iso right to revise the action of Congress. As to the charge that the Fourteenth Amendment was not ratified in good faith, it is not sustained by, a particle of evidence. The fol lowing are appendeil to the majority report 1 concur in the conclusion of the report that Mr. Hill ought not to be admitted, and agree, that the retort ought to be made. &MeV& CONKLING.. r I concur in the conclusion of the report that Mr. 11111 ought not to be admitted, and agree that the report be made. F. T. Fannurane rags. Miralre in . Cuba. HAVANA, Jan. 25.—Sarlous troubles have re cently taken place in Jeans Marla ward. - Yester day afternoon , the disturbance broke out again in the same quarter. Some people on the house tops fired upon the•volunteers in the streets, and the lattct returned the fire. It is not known whether 'toy. one was killed. At a late hour in the evening•the house of Senor Aldana, a rich planter, suspected of giving old and comfort to the revolutionists, woo entered, by police officers, Supported by a guard of. volau teers,'andkearched for arms supposed to be hid den there. The building was badly damaged by the troops. The Spaniards assert that this house was one of those from which the volunteers wore tired at. At 9 o'clock on the same night, In the vicinity of the Louvre Coffee house, and Tacon Theatre opposite, shots were fired at some volunteers who were passing through the street. The lower hall ofthe Louvre was crowded with people, who were utterly ignorant of what was going on outside or on the upper floors of the building. Tho detachment of volunteers halted, faced the Louvie, and fired upon the guests indiscrimi nately, with fatallettults. Several Spanish gentlemen, government em ploy& and officers of the army were, killed. Two German merchants, Messrs. Itochling and Lap ipenberg, and , many other persons were danger ously wounded. Samuel Cohner, a well known photographer from the United States. was at tacked and killed near the Louvre, about the same time, by some armed men who are imp posed to have belonged to this volunteer force. While the audience wore leaving Villa Nueva Theatre, shots were flred, by whiclt two' ladies and severaiOhildren wero killed. , • - The American schooner Artists; formerly Key West wrecker, has been brought to this port as a prize by the Spanish' gunboat Dolts, - O nP . 01 3 carrphik l etiPpllee r When discovered they preteidqd to be engaged in wrecking a efilifl,ot-, orCilJollirledtifeetaffs:, The Sisel Arilsta cleared from Key' Wolff, ()tithe - Bth for I thtvArta, Thin. 25.—A meeting of the nommen dera of the volunteer forces in this city was held --lI tad tßettip, presefit; and deplored ho remit .Wurft wieretiolved4ttt all volunteers, excepting those on guard, shattliero after remain at their homes, and only come out when a signal of twelve guns is fired, or at the , ) .Ainmand of their chief eitlicers, until the arrival of additional itetops from SPhin.' Sailors frcird the Spanish men-of-war in the harbor areilo per form patrol duty, and they are now patroling tho streets outside the walls. Business has been suitiended since the com mencement of the dloturbanees with the' volun teers, but thepeople aro now greatly relieved,snd the feeling of security is growing stronger; as the sailors are,well disciplined, sober, and faithful, and perforsi(their &idea, to tine satisfeetion of pal.. The city is not perfectly quiet.. ' BAVARIA, Jan. 25, 10 P. 51.—A1l quarters of the ,city, inside and out , the walls, arc quiet. Nothing , has owurreil - to4ilght to disturb the ptiblic Vaa -1 The killing of Mr. Cohner is the general theme of conversation, and is looked upon as a cow ardly assassination. _ lussliedStatesSupieme Courri On motion of Hon. William L. Sharkey, John W., C. Watson, Esq., of Mississippi, was admitted to practice as an attorney and counsellor of this court. On motion of Hon. George W. Paschall, John D. McAdoo,,Esq;, vf Texas, was admitted to practice as an attorney and counsellor' of this court. On motion tif Hon. P. Phillips, Samuel EL Torrey, Esq., of Louisiana, was admitted to prat lice as an attorney and counsellor of this court Oil motion of Hon. B. R. Curtis J. J. Markiand Esq.,(oC.lthode bland; was admitted ; to practice as atilitterney arid counse'or of this court. No. 17. The United. States ex ref. P. S. lien bow, plaintiff in error, vs. The Mayor and Alder men of lowa City, in error to the Circuit Court of the United States, for the. District of. lowa. Mr. Jostle° Davie. delivered the - opinion of the court, reversing theudgment of the said Circuit -Court in this case with posts, and remanding tile cause for further proceedings in- conformity to the opinion of this court. No. 22. The Louisiana Mutual Insurance Com pany, pLaintiff in error, ve. John% P.' Tweed, in error to the Circuit Court of the ;United States for the Eastern District of Louisiana. Mr. Ater Me Miller delivered the opinion of the court; re verging the judgment of said Circuit Courtin this case, and remanding thecanee to the Cirealt, Court of the United States for the District of Louisiana, with directions for a new triaL No. 21. The Stearniihip China, 'appellant, vs. Louie Walsh, a al. Appeal from the Circuit Court of the United States for l the Southern Dar triet cf New York. Mr. Justice Bwayne delivered • the opinion of the Court, affirming the decree of the said Circuit Court in thetocanse, wick costs and interest. No. 37. The St. Paul arid pacific Railroad Com pany, plaintiff in error, vs t 8.. Setitirmelor, in error to the Supreme Court em , the State of Min nesota, and No. 38, the St. Paul and Pacific Rail road Company et aL Appeal from the Circuit Court of the United States for the District of Minnesota. Mr. Justice Clifford delivered the .opinion of the Court affirming the judgment of eaid Supreme Court and the deem of said Cu cult Court. In these causes, with costa. • No. 4L Henry Kellogg, appellant, vs. the United States. Appeal from the Court of Claims. Mr. Justice Grier delivered the opinion of the Court, affirming the decree of the said Court of Claims in this cause. No. 49. The United States, plaintiff in error, vs. Michael Shoemaker et ca., in errouto the Cir cuit Court of the United States for the Eastern District of Michigan. Mr. Justice. Nelson de livered OPIDiOIi of the Conrt, reversing tate judgment'ot said Circuit Court in this Cause. No. 179. The barque Grapeshot, appellant, vs. WallersieLn, Masset et CO. 'Mr. Chief Justice Chase delivered the opinion of the Court, over rttlir.g the motion to dismiss the appeal in this The Belt°Ober• Alicia et 'al., appellants„ Vs. l'ho. United States. Mr. Chief Justice Chase delivered the opinion of, the court, overruling the motion to docket end dismiss the appeal in this case. No. 55. The United States, plaintiff, vs. John McElwee. Certificate of division of opinion be tween the judgto of the Circuit Court of the ,United states for the Southern 'District Of Ohio. On motion of Mr. Attorney-General Everts, it was ordered by the court that this certificate Of division be dismissed. No. 6 Ethan Allen, appellant.va. Rollin White, e al. The argument Of: Ibis cause was contiou, d by Mr. Stoughton, of 'counsel for appelees, and by Mr. Curtis, for the appellant. ittestemeni. The following le the weekly statement of Inc Phila. delphla Banks, made up on TV , mday afternoon, which prmenta the following aggregates: • Capital Stock.. . ........ ........ sum:n.7 160 Loans and ....... 54531,018 Specie.. ~............ ......... 411.897 Due from ether . p r anio: ........ ......... 4.4 .. ,0.50.010 Dee to other . '6.087.739 • 33117 le3 ............... . Circulation. •• • • . . ....... 10.532,914 U. B. Legal i'entifr;r and Rolm; 14,094,810 Clearillda. • • .. • • ......... .............. 84,810,634 Balance.. ..... 9,603391 The foliciwings . tleii . fwe the . e . o . ridition of the Banks of Phidadelphla, at ration times daring the lard few months : 1868. Loans. Specie. Clrculatio. Dopoelts. Jan. 6.....52,002.304 235,9111 10,639,00 38,521.274 Feb. 8....62.609.919 148,678 10,638,921 81.90,287 liar. '9..1.66,458 911.366 10.630.484 915.798.814 April 8....52.209.234 915,835 10.642,670 31,218,110 May 4-0,333,140 314,366 10,631,044 35,109,931 June 1....116,668,449 -239,011 10,626,937 16,5144451 July 6.4..63.653,411 298.996 10,628,488 8028,205 Aug 3....54.341,163 161,281 10,623,848 40,425,611 Sept. 7....511,664.068 222,900 10,622,316 38,015,607 Oct. 5......54,258.518 195,689 10,609,330 26,381,508 Nov. 9. . :94,78L6f6 229,901 .10,612,612 34.517,805 Dec. 7.-52,184,431 243,406 10,600,067 32,934,744 1809. Jan. 4.....01,716,999 659,43/3 /0,693,1111 31,982,869 0....51.642,337 644,691 10,693,372 32,829,874 18....62,122,732 476,462 10,596,564 33,6,1,429 " 25 .153,037,016 411,88 1 10,092,914 88,517,729 The foll owing is a detailed statement of the bad. nose of the Pkillsilelphla Clearing House for the past week, furnished by B. IL Arnold, Esq., Manager : Clearinst. Balances. Jan. ...... 6.219,8E0 60 496,904 34 19. .... ............ 0,803,567 97 307,612 09 6 264,678 OS 473,023 11 6,267.341 43 046,783 83 6,130,242 52 660,695 19 5,039,914 27 419,189 46 REBIOV4III. .14 E6IOVAL.—THE LONG ESTABLISHED DEPOT for the nimbus and sale of second ' hand doors. window/. store fixtures. &c., from Seventh street to sixth street. above Oxford. %tem such articles are for este in great variety. Also new doors. sashes, shutters. &e. jal343m • = NATHAN W. ELLIS. ri 11 , 1154. f 11r. JAY= IL winoirr. rnoinrrois ELIEM. aL12,1111111 L. °MOON T117.01)011P. vinionlk FILLNIL 1.. NZA-LL. PETER WRIGHT & SON% . liiiirrtzeg Earthanw,ape ; Lad t / / _ Snipping and o)mmiselon hteronsaU t • - • No.llg Walnut iitniet,'PhillidelPain;' ( 1 0T ON BAIL DUCICOV EVEMY WIDTH. IMOM 211 inch to 76 inches wide. all numbers. Tent and Awntnispac%, raper.maker's Welting Bait Twine, dm.] JOLIN W. EVERNILAN, = No. 103 Church street, City Stores. PRIVY WELLS--OWNERS OF PROPERTY—THE A only placo to got privy wells cleansed and disin ocYond a e t v te r .Go ow s mths Hall. LiYSSONt reMtufacturer XIANA.I. STORES. (107 TON BAT'fING.-14 BALES corn )N BATT(NG k-) lo etoro and for 8010 by COCHRAN, RUSSELL, db CO, %3 North. Fropt tartlet, ja26,8„ C; PIRITB TURPENTINE—WO BARRELS BL IRITSTBR gentine now landing and for sale by EDW. IL NOW. LEY, No. 16 South Wharves. au2l.tf Qpiurra TUIWENTINE AND ROSIN--no BARRELS 10 Spirits Turpentine ;. 142 bbls. Pale Soap Raefill; 11505 bbIS. No. , ll.ll3hlypitg Rostmlanding from steamer Yippee'', or este by ka)W. 1.1, ROWLEY; 10 &Wharves. n 02.1.1 COITON.-100 BALES COT) ON FOR SALE BY COW/RAN, RUSSELL,e2 CO, 22 North Front street. Tp• osiN AND NAVAL STORES.-200 BBLS. NO 2 Rosin;lt 260 bbls. No. 1 Rosin; 160 bole. Palo Rosin; 100 bbls. Pitch ; 100 bbls..Tar; 101) bblit-Spirlts.Turpenticie. , For eale by ()OCIIRAN; RUSSELL '42 , ..00.,22' 'North Front street. GAN FIX!' UiIES. A 8 FIXTURE 'MERRILL dr G TH MIKA Hu. No. 718 Chestnut street, manufacturers o f G oo wittures, Lamps.~ dim, dge, would call the attention of the public to their or_ge and elegant assartmoof o aa chandeliers, Pendants, isracketeoke.. They also introduce gas pipes Into dwellings and public buildings: and attend to extending, altering and reusdring gas pipes. All work --- • -- ------_______. 110 °BERT SHOEMAKER - & CO., WHOLES/MU .11 , Druggists. Northeasst corner Fourth and Rem atreeta, invite the attention of. the Trade to their large stook of Fin° Drop 1 9 34 cheOcala , Pmentio4 01146Pongetarko., THE-D:mo..,tv.::o.tso::o4,ofiprtpmpg;pooptmftwTsi:,p.z.pAyj-Atwiatryi,fn;f.tB6o:,i..:::..,:,-,..•t ~.i.:11:11. $34.912,684 84 $2,603,161 96 El) sEouRITY: _ ivroillus T ABURANOEi. COMPANY, OF PENNSYLVA' Offtee s Southeut ()or. Fifikand ciies4m,t, PHILADELPHIA. Capital, - - $1,000,000 DIREUTOILS GEORGE STU ART,...EbRadeIpILIA, GEORDE w. CHILD, " • s ' - r.lttrtgcuirrm WM. V. MaKE N, THuMAS W. EVANS. i • " S. 11. HuRSTIAAItI.I. A. J. DREXEL; • , JOSEPH PATI.ESSON. WM. C. HOUSTON , S. J. POLMS..- •"• • ' New York — JAMES M. mottitisON. 'rreoldont Idamhat.. tau Bank. " JOSEPH STUART, of J. &J. Stuart .& Moutons. Boston—Non: E. B. IHBEY Sate Prauldtint Board Trade.Y Ottuinnatt.-A. E. CHAMBERLAIN, or Cluuttlierlalnls Chicago—L. Z. LEITER, of Field, Loiter AL CO. C. M. SMITH. of ,Goo. C. Smith A - -Brothers. . . GARVIN, of Garvin, Bill Co. Bt. Louia—JohiEti YEATMAN. Cashier blecchanfo' National Bank._ . • ikattfinal*:--W Line n PititatArnuilldlTO,- 13 tanintoodent Consolidated Itailway New York to Waahmaton. . " 8. B. ~ ra biIUEIWI.F.B. of Ad a ms & Co. Ex - w. (lad' VitANCIn T. NANG. President Central Savings_ Bank. Bon. J. W PATTBI3.BON, U. 8. BonetoF from N. GEORGE 11. STWAT, President.. , C. F. BETTS, Secretary. J. L LUDLOW, M. D., Consulting Physician. R. M. GERSTN, M. D.. Medical ' Examinees. JOSEPH F. EOPSPER. AL D., C. STUART PATTERSON/ Comm/. RICHAED LUDLOW. This Company isnot Policies of Life _lnsurance upon all the various plans that have been Proved by the expel deuce of European Ord American Cbe eat iN Ad and reliable, at ratee as LMW Coand UPON.RMiii Ad eVolicifiEE as those of My ComPatlY of elus; etability. .. L policies are non forfeitable after the payment of two • more premlunin nos th a to Sm tELAWARE MUTUAL B&FETY INSURANCE COM I/ PAN Y. incorporated by the Legislature of Pentunivanit‘ 1830. Office .8. E. corner of THIRD and WALNUT Streets. Philadelphia. . MARINE INS UnANCES On Vessels, Carilarid N rEe l 10 8 11:Unto of the world. On goods by river, canal, lake and land carriage to all parte of the Uuton. FIRE INK:RANCES On Merchandise generally' on Stores, Dv:ldling& Holum. &c. ASSETS OF THE COMPANY; November 1.1808 . . eamcoo UniteSatre Five Per Cent. Loan, 10 40 , 0 52113,500 00 120.000 United States Six Per Cent Loan, 1881 1118,801 00 50.000 United states Six Per Cent. Loan (for Pacific Railroad) .__... 50.000 00 200.1:00 State Of Penni* Brants Six Per Gent. L0an...... 211.816 CO I=ooo City of Philadepa VOT Cent. Loan (exempt from Tax) ' MUSA 00 60.11041 State of hew JgrenySix. Per Cent. L0an.......61.6 00 CO 20.000 Penn.). ivania Railroad First Mort. gage Six Per Cent. Bonds 20,.2430 25,00) Pennsylvania Railroad Second Mortgage Six Per Cent Bonds.. • SLOW 00- =PO Western :'Penpeylvaniw kaUroad— • fdertgage -Mk Per' Ceitt..Bonds " (Penns. R.R. guarantee).— . 20.6.0^'00 =WO State of Temente° Five Per Cent -Loan .. * .-7 mow o MOO State of SUFir6a Loan 6.031 26 '15.000 Germantown Gas Company. prinel. pia and interest gueranteNt by the City. of Phihdelphia, _,4 shales etock_ ... "WOO (XI 10.(0) Penneylvania Rallioad CompanY" D'O eharee stock. . 11.300 00 ()MO North Pennsylvania Railroad Com pany. lOu shares stock Wow oo 30.000 Philadelphia and Southern Mail Steamship Compaq, 60 shams atock. . n . ' . i . i rot =OW 00 2/1,900 Leav n on o C d ty Propertlee gi 257.900 00 , 1 . 1e9 . 900 Ni l , • Market value, 181,1210.333 ffi Coat. 5L093.604 - % Real . 28,000 EEtatu... **** *** Milk Receivable for armee - ,E; 8 22493 94 Balancea due at mimes on Marine Policies—Ac crued Interest and otber date due the Company.... 4... r. .. 40378 28 Stock and Strip of einadryCorpora tiona, 313,186 00. Estimated 1.8115 00 Cash in Glob in Drawer. . ........ 418 ES 116,863 73 ' DIBECTORB i Thomas G. Hand: , Edmond AL Bonier. John C. Hay% ' - SamnetE. Stokes. Jumee C. Hand, Henry Sloan, Theophilne Paulding, William G. Ludwig. Joeeph H. Seal. George G. Leber, Hugh Craig. Henry C. Hallett, Jr., John R. Penrose, John D. Taylor, J e cob P. Jones. George W. Bernadou. Jame. Traquair, William G. Boulton. Edward Darlington. Jaeob Riegel, - 11. Jones Brooke. Spencer Ai'llyain% Jamee a M.E'su - land. ' John B. Semple. Pittaburgh, Edward Lafoureade. D. T. Morgan. do. - THOMAS Joshua P. Eyre, A. C. B. Berge r HAND. , Presidant do. . ; " JOHN 'C. HAWS, Vice Preeident. HENRY LYLDHRN: Secretary; , - HENRY BALL. deal Secretary. VIBE' INSURANCE EXULUSIVELY.—TIIE PENN- E eylvania Fire Insurance Company—lncorporated MB —Cbarter Perpetual—No. 510 Walnut street, opposite .1n• dependence' , • :; This UutoPani: favorably known to the community for over forty years. continues to insure against loss or dam age by fire, on Public or Private Buildings, either perma nently or for a limited time. :Also. on k%rnittue, Stocks of Goods and blerchandlee generally; on liberal terms. Their Capital, together with a large Surplus Fund. invested in a moat careful manner; which enables them to offer to the insured an undoubted security in the case of lose. , , DIRECTORS. • Daniel Smith.Je, , ' John Devemnx. Alezhnaer Bcnson, Thomas Smith. Isaac llaziehurst. Re c, ‘ Thomas Sabine, • - •J. inghare Haddock. r. _ DANIEL SITS , Jr., Fresident. Wn.nam Cnowria., Secretary THE COUNTY FIRE INSURANCE COMPANY—OF o. he p i o. o I l i n e im at r Y . VlF4t 2 ret a k tree. ti rbelowCTC2lngtnotikila delphia," r lucorpor Incorpora ted by Compa ny Legislature of Penneylva nia lgaq, for inde mnity against 10E8 or damage by fire, exclusively; • - CIaRTER PERBETUAL. Thie old and reliable Institut ion.with uncle capital and contingent fund carefully invested, coati's- - I to imam buildings. furnitute, tuerchandiseAse., either permanent• Iy of for a limited time,againet logs or damage by tire, at the lowest rates consistent with the absolute safety of its customers. ^ Losses adjusted and _paid with all possible despatch. • `L, DIRECTORS : Cita& J. Sutter. Andrew H. Miller. nry Budd, James N. Stone, John Born, 'Edwin Realcht, Joseph Moore. Robert V. Massey. Jr.. George Menke. Mark Devine. . (MARL S J.. BUTTER, Brceident. HENRY-' BUDD, Vice r President. BENJAMIN F. HOECKLEY. Secretary and Treasurer EFF ERSON FIRE, INSURANCE COMPANY OF J N 0.24 North Fifth street, near Market street. incorporated by . the Legislature - of Pennsylvania. Char ter perpetual. Capital and Meets $166..0 , 00. Make lase ranee against hoes or damage by Fire on I üblic or Private Stocks, Goode and Merchandise, on faverab terms: DIRECTORS. Wm. McDaniel. Edward P. Moyer. Israel Peterson, Frederick I.4adner. John F. Beleterling.' Adam J 7 Glue. Henry Trootuner, Henry Delany. Jacob Schandein. John Elliott sa t Frederick Doll. • Christian a Frick. Samuel Miller, George E. Fort. William D. Gardner. WILLIAM MoDANIEL. President. ISRAEL PETERSON, Vice President. PrinsE. COLltnal. SeeretarrandTreaeurer. FIRE ASSOCIATION OF PHILADs. & phis. Incorporated Hsieh 27.18!0. Office. cvv No. 84 North Fifth street. Insure Buildings. Household Furniture and Merchandise ' generaßY. from Loss bY Fire. . , Aseets Jan. I. lea— • • ........ kr. •• • .„ 41.4eS 090 (18 - - !rap , • • William H. Hamilton. Samuel Sparhawk. Peter A:Keyser.. _ John Carrolv.` Jease Loln George I. oung. , Robot bincHnicsier. geeph R. Lanai. , Peter , Armbruster. P. M. H. Dickhauson. " CPA 'star Wi I meon._ • Wbi. lIAM,ItTON,PreeIdO t. SAMUFL SPARHAWN. Vies President, WM. T. BUTLE.II. !bantam Tho Liv'erpod , d9n, & Globe 3Q Insarance C'ompany. rhe RePort of this „corn pah; for._l 868 shows: Premiums Lges - - - and after paying a divi dend of 30 per cent„ the Total Afets are, in Gald, :'517,005902 4TWOOD SMITH, Ilia. 6 lIIERCHAWTS' EXCHANGE, Pawkiphia. ETUAL. 1829. - c'TERvERP • VIELANIICILLIN. FIRE INSURANCE COMPANY OP ' PiIiLADELPIIIA, Nos: 435 end 457 Chestnut Street. Assets on January 1, - 11.808, 152,003,740 09. . . .400,000 00 Accrued 5urp1u5................. . ........ 1408,393 39 . .......... 20 utionTLED mum, ntoomP. mit u 69. e 53,69". . swam. Logien Paid Since 1829 . Ovei 5,500,000. Perpetual and Temootary Policies on Liberal Terms. MEW OE& Chm. N. Bandon, mr.d.raapier;,.. Samuel Grant. Geo. W. Richards. Wm. 8 Grant. lonse Lea. Alfred G. Gaon . Geo. Pales. CHARLEi N T .EirN a gEV. i t4esidemt. GEO. TALES. Vice Pr ost ent. Mcni.LLUSTER. Secretary pro tem. Except .at Lexin i kton, Ketitizekr• Company has no Agendas west of tta burgh. THE RELIANCE INSURANCE COMPANY OF PHIL ADELPHIA. Incorporated in 1841. Charter Parpet tat. 0111ce CAPiTAL , No. 808 We3uo.alnutooo. street. Insures against loss or derange by FIRM on ElollBeff, Stores and other Buildings. limited or pornetual, and on Furniture, Goods, Wares and Me.chandise in town or un co. LOuSES PROMPTLY ADJUSTED AND PAID. Assets.. Invested in the following Securities. viz.: First Mortgages on City Pro_perty. well secured. 5168.600 00 United btatea Government Loam ....... 117.000 00 Thliadelphis City 6 per cent. Loans_... 75,000 00 Pennsylvaniasa.ooo.o t. L oo 6 per cenoan.. ..... 60.000 01 Pennsylvania Railroad Sonde, first Mortgage- 6,0 000 Catodenand Amboy Railroad CoriammY's 6 per Cent- Loan- • 6.000 00 Loans on Collaterals. 6OO 00 iiuntingdon and Broad Top 7 per Cent. Mort gage Bon& ........ • ... 4.660 00 County Eire Instcrancet.lompanre 1.050 00 Mechanics' Bank 5t0ck..... ... 4 . 000 00 Commercial Bank of Pennslvanis Stock • - 10,000 00 Union Mutual Insurance Company's Stock..... 38 0 00 Rslianceinearance Company of Phlltulelpia Stock-, 8,250 00 Cash in. Bank and on hand 12.232 32 Worth at ..... Worth this date at market prima Clem. Ringlon WI.. Simmer, Samuellifsuhenu B. L. ILITSIME4 WM. etevenson. Benj. W. Tingle% _ E,PV7IIr Tnomes tin.r ft Betrey IP4u.Anal.riu.s. Decor' AtiTIURACITE INBURABUZ COMPA.NY.—OLLLR TERIFERPETUAL. Mee. Na Oil W4LNUT street. above Third. Phila. `MD insure agama Loss or Demme by Fire on Band ing" either perpetually or for a limited time. Household Furniture and hderchandhse generally. Also; "deem) Insurance on Vessele, Cargoes and Freights. Inland humrance to an parte of the Union. ' - DIREUTORd. Win, Eater, Lewis Audenried. D. Luther, John Ketcham. John IL Blaklaton, I J. E. Baum. Wm. F. Dean. John B. IleyL Peter talegec. Samuel tL RothermeL '"" ESHER. President, F. Mali, Vij M ce Presidtmi t aglt.tu..atf WU. M. 8311 m. Secretary 81,647.3 , :71 'UNIT FIREKENTI I-,RBILADELPIILS. This Company takes risks at the lowest rates consistent with eafetY, and Confines its business exclusively to FIRE INBVEANCE IN THE CITY OF PHILADEL PHIA. OFFICE—No. 723 Arch attest. Fourth National Bank Building, DIRECTORB. Tbunsa 3. Martin. Charlet! R. Hmltb. John Hirst._ Albertan King. Wm: A,_Bolla, Beery Bumm. James Idongan. James Wood. William Glenn. John dhallcrom. James Jenner. J. Henry Ankin. Alextuider T. Hickson. f Hugh Alulllgn. Albert t.;. Bob erte. 1 ?Mg kltzgatrick. CONRAD B. ANDREnid, Preeldr. Wu. A. ROLM, Trees. Wm. H. legonui. Be ,y. 1' I p CENIX INSURANCE COMP- Tr OF PHILADELPHIA. INCORPORATED NW—CHARTER PERTETUAL. No. 224 WALNUT Street, opposite the Exchange. Tlds Company insures from losses or damage by FIRE on liberal terms on buildings, merchandise. furniture, As, for limited periods. and permanently on buildings b deposit or premium. The Company has been in active operation for more than sixty yeam, during which all lame have been promptly adjusted and paid. DIRECTORS: John L. Bodge. David Lewis, M. 11. Mahon!. Benjamin Etting. John T. Levrts, Thos. ii. Powen4 Wm. Grant, A. R, McHenry. Robert W.*lerardng, Edmond Calumet) * D. Clark Wharton, Samtiel Wilcox. Lawrence Lewis, Jr., Louis C. Monis, JOHN R. WUCIIERER, President. S /mum, Va.oox., Secretary. 1 406 tiaNWPR N E G E PILILAV FIRE INSERA D NE. Chas Richardson, Vm. R. Mama, Francis Iv. Buck. Henry Cowie, Goo.' a.. West, Nathan ILUIO, • DRAG. RI Wfl. 11. Et WILLIAMB r. Butaw A BERMAN FIRE INSURANCE COMPANY. 'NCO& An- notated 1810.--Charter perpetuaL No. MO WALNUT street, above Third Philadelphia. Having ' a large Vold -up Capital Stook. and Surplus in. vetted in sound and available Securities, continue to in sure on dwellings, stores, furniture , merchandise, vessels in port, and their cargoes, and other personal property. All losses liberally and rgemptly adjusted. , • HARM; ofts, Thomas it. Maria. • Edmund G. Elutilh, John Welsh, Charles W. PoultneY, Patrick Brady, wad Morrie, John T. Lewin. John P. Wetherill. WilliamV. Paul . THOMAS R. MARIS. Proaldent. Ammar C. CsAwronn. Secretary CROSS~. CREEK LEHIGH COAL. 'PLANTED & MeCOLLIN, _ No. 1033 CURSTNur Street. West Philadelphia; Sole Retail Agents for Core Brothers & Co.'s celebrated Cress Creak Lehigh Coal, from the Buck Mountain Vein. This Coal is particularly adapted for making Steam for Sugar and Malt Boutlea..Breworieg, &c. It is also urusur• paned as' a Family Coal. Orders left at the Mlles of the Miner., N ct. 841 WALNUT Street (let floor); will receive our prompt attention. Liberal arrangements madg with aummfaeWreni us • a , , van 5'...:, 18tt B. !JASON ENE JO D V. EIMA ia.nzrGNED INVITE 'A'TTEN TION ' R, r.eis ~prin..249untalni Lehigh and Loin:let Mountain Coal. 1 1 7 ic h t igt. o rigi le t: ei bti preparation Liven by ne, WO think can- Office, &Nikki Cti 3 tuter lb S. tievtaitti street.. Hts BiIEAF_ haus ; ' " itren is ta treet wharf. echtiilklll. L INE moms' taraißi.7-11iirrfaillrautiftWitto PBrand on consignment and tor sale birJOB: B. DIM 8188 & .00. . 103 limatra Delaware slum - .551 . 4792"7 8 : 3,344,7.28 General Agent, DTIMCgTORS. Thomas H. Moore, Samuel Cashier. James T. Yomigi . Isaac F. Baker, Christian J. Hofhharl. Samuel B. Thomas. BEM lter: TINGLEY. President. Miry :omber .1.1853. th tt or3ZN COMPANY. tiFFIOE NO T. ELPHIA. EXCLUSIVELY. 'TORS. Robert Pearce. John Kessler. Jr.. John W. Everman, Edward B. Orne, Chao: Stokes. Mordecai Busby. HARDSON, President. HAWN. Nice• President. Secretary IVerali AWCWI O S SAW_IPU 11611 TfitElAirdiAl.loFlONEE l l 4 , • • ' ''''' ' Aim s _ - rtes:warld HI South earth Streets` , F.STOCRS AND RSA), STATE. - bliorsaleir et theltiladelpkiaftr.,ehenuno AY tit IS *Vont. it , .. • :TiT a l.`-t Or' Fttreattint Sales at the , sinotion , Otero EFEEE THURSDA. ' • • , ,1 . far Saki. Y' at, IteddenimmeehreCeermW Attention. VALUABLE CR MIS A CELLANEOUS BOOKS. ILLUS. •.. Enitlish . _ • TED WORKS. dut. , • _ . . kid American EdDions, including ... British Poets; 190 voNAWerverly Novele,`DicketuPs Works, de. Also. two euperforylllere4eouss: .- ' .• . ,orty.pEakittic AguattooN, Jan. 4 }t'4 tettotk.. Sale at the Audios Rooms. Nos. 139 and =l4lBouth 'Vomit' HANDSOME notratnr LD FURNIVEtEL PIAN O S, et ' MIRRORS.' FIREPROOF FAYE. HANDSOME VELA IIET. lIRUSBELIPAND OTHER CARPETS. dtc. ON .THDREIDAY MORNING, Jan. 2s, at 9 o'clock. at tho auction roorruklrY catalogue, a large assortment of etperior= Howehold Furniture. compriting-Han dsome Walnut Parlor and Lehrer,. Furniture, nov. red with plush reps and hair cloth; ••died Walnut' Chamber Suite, French Plato. Mirrors: impeder Rosewood seven octave Piano Forte. elegant Walnut Ex tension, • TOW, bandsome Wardrobes. Bookcase and Sideboard, China and Glassware. 13.ds and Bedding, 0110 Bair Metres/eailarge.assortment of Office Furni ture, large Fireproof Safe, Mada by Farrel dr . Herring ; Gasnoneurohig and, Cooking,litoves. Counter Suet Shel m - ving, Plate tae hhowes.ise. six Marble Top Tables, handsome **vet. Brussels and - other CarPets.dr.c. .' ~ .•-•-- LARGE BALE OF fIPLENDID OIL PANTINGS. 91:4*UNDEtY , AND TUESDAY EVENINGS. . - • February land 2.. - - We willed' by catalogue for accountof Mr. IL KRUM LER, succeleor to GOUPIL A CO., New York, the finest collection? of Oil Paintings over- offered in this. city. Among the eminent eaten' represented in this Collection will belound Ow following, viz... 4 ' Willems, Platnner F.seocura. Landed% Pitchers. Fauvelet, ' Hanson, Noterman. Dupuis. ir envie Cali". Mertz, Dißenbach, • 13n1lonin. Kewanee. mro, le rriderickson. Merle, Kuwasseg, file, Dolattre. Herzog., , Moorman , Desksfes. Chaplin. La . bidet Caine, Deer OSA • , ) obrichon, Devour.. Beranger Brest, Gaumo. Conder. . • Wee. COS :do, - Schloteer. Coutourfer„ Do Bens*, Le jeune. Lomeli°. Devious. Brion, , Ranh", Bakelowitz. D. tette., Jacobsen. Antigua, earned,,,---,-_ : __Litechauer. • ~, . Schoenfeld. - Plassim.Derbstoffer. Ramsey; Bakkeikorff. • ' liilittost; • - • • Holitlick. litimmtur, Leikert. Denteert, Midon. • ' • Jacemin, ClaudeX Letorpena, Lot. Blum, Zubor Buehler,Lamb ids,' Bacon. Verbockluove, Hue. Auf ray, Vollon. linemen. Viardot, Von Willie, litiverdink. Von Babes, Ten Rate. Clot Hubner. Lichtenfele, Casten. Guillemer. Bell, Bargains. Fiche'. . Warders. Selene% Hoppenpreuwere. iteynaud. Bridaerean Giraniet. Boyer. W The Paintings are now on exhibition in the . Eastern Gallery of the Academy of Fine Arta, from 9 A.• 111. till 5 P. M. Admission free. JAMES A. ERKUIAN. AUCTION EER. No 499 street BANE, STOCK.. . ON WEDNESDAY, JAN. 27. Pa At lit o'clockwill be sold at the Evehange, UV shares Stock Exchange Natiotuu Bank. REAL ESTATEI3BI2 JAN. 27,1E09. This Bale. on WEDNESDAY at U o'clock, neon, at tbe Exchange, will include the °Rowing— WILaRF and DOCKS on the river Delaware, south of Almond et.. 9834 feet on Delaware avenue by 200 , feet deep. Sale bp_ Order eight Or hang Court rend /f/464U. tore of D. .t C. /McCarthy, deed. 22a PINE ST—Three-etory brick store and dwelling. lot 15 by N/ feet. Orphans. Court Sala—Betate of Walter aouthatue, &eq. 614 1-'164,E. I) I —Threader/ brick dwelling and dye home, lot 17.5 t, by lilt feet Orphans' Court Safe—lfstate of Frawrlsl"htAbsrt, deed. B - CUB. 161 11 and BROWN 878—Modern three story Inick store and dwelling lot 18 by 6734 feet. Or phans' Court Sale— &tate of William Haines. dro'd, VALUABLE. ORO, ND RENT of $B4O per annum, well seemed out of lot on Cherry at.. above Tenth. Orphans" Cowl Estate of Pt - rex - Heim - - - - .251 a 2520 and 2522 DESIDR , G ST.. 26th Ward—Three neat two-etory brick dwellings, lots 16 by 88 feet. Sub lect to_bMgmrind rent per annum LOT, AGAI E i F.. with Traitif - oitWeshrioreland -- arid Culvert e'a. 940 by LO feet. $75 ground rent per annum. Orphans' Court Sate--Estate of Jszard minors. 11(1,61P11/B and CULVERT wra—Lot at the N. E car nee, 32 by 50 feet. $lO per annum ground rent Same Estate. AGATE and CUI VERT STS—Lot at the N. W. corner, 205 by 50 feet. Subject to 564 2A per , annum. Same &- tat , . LOT. WEST end 'NORRIS 18TI1 WARD-17 by 79 feet Soave Eetate. Clear of locum brance. tir" CATALOGUES NOW READY. A VALUABLE TRACT nF 20 A.CRF.4II OF LAND. WithAdansiorellonse, Rising Sun Lane, intersected 'lb) Eighth. Ninth. Tenth and Eleventb, Ontario and Tim streets within 200 teet 0 , he Old York 'Road. Valuable dekosti of Brick Clay. Terms easy. valuable busineea property No. 819 Arch street BURLINGTON.—A Bandeeme Mansion. on Moto lot 56 by 71)0 feet UNTING. MIIIIOIIO A & 0.. AUCTIONEERS, B Noe.= and 234 MARKET e ect. corner of Banc et. Summon. to JU' 74 B. MYERS C). FIRST LARGE SPRING SALE OR 2000 CA3ES BOOTS, titiOES, TRAVELING BAGS, &a. ON TLIEBOAI •MOPIYINu. February 2. at 10 o'clock, on four months' credit. ADMINISTRATORS' SALE OF FANCY OASSI. • MERES ON WEDNESDAY, FEB. 3,.. Will be peremptorily eold. on four Montliti credit, tom. mencipg at 10 o'clock.by order of George Bullock and becca Ann P. Hunter; Administrators of P. M. ERIN. TEE deceeeed, late atirlivitet Partner of P. M. BUNTER & ed.; ONE TO TWO T,EIOIIBAND PIECES $437.588 E 8 4454.3 n Ap or PERKIOMEN AND STAFFORD MILL CASSIMERES, being balance of stock from the male. The Goods are all fresh and sery'deairable style& LARGE SPECIAL AND PEREMPTORY SALE OP DOMESTIL; (P , oDS. IN - ENTIRE PACK AGES ON WEDNESDAY MORNING. February & commencing at 10 o'clock. we ENTIRE PACKAciES COTTON AND WOOLEN DoMESPIC GOODS. Particulars hereafter. • AT .PRIVATE BALE. 60 cam INFANTRY OVERCG a sDiect. 60 bates GRAY burr ARMY SH IRTS. THOMAS.' BIRCH • di SON. AUCTIONEERS' AND COMMISSION MERCHANTS. No. 1110- OtIESTNUT street. Rear Entrance N0..1107 Samom street. HOUSEHOLD FURNITURE OF EVERY DESCRIP TION RECEIVED ON CONSIGNMENT, Salmi of Furniture atDwellings attended tor on the moat reasonable - terms SALE OF FINE •SILVER PLATED WARE AND • 1..; . TABLE. CUTLER\ • • ON E WELNY,BPAY EVENING. At 734 o'clock, At the auction store, No. 1110 Chestnut at, will be sold— A Stock of elegant Silver Plated Ware. comprising—Tea and Coffee Services, of new and elegant patterns Wait err of all sines, Dinner and Breakfast Castors, Ice Pitchers, Tureens. Cake Basket% Urns. Liquor and Pickle Stands. Butter Dishes, spoon Goblets, Sorry Dishes, Ept rgnes..dtc. Also, Table Cutlery, Silver Plated and Plain Forks, Spoons. Ladles. dm The goods can be examined on Tuesday. IT A. MoCEELLAND, AUCTIONEER, • 129 CHESTNUT street CONCERT HALL AUCTION ROOMS. Rear Entrance on Clover street . Household Furniture and Merchandise of every de. ecription recolded on consignment. Bales of Furniture at dwellings attended to on reasonable terms. BALE OF PINE FURS AND OARRIAGE ROBES. • obi WEDNESDAY MORNINO. Jan. 21, at 1034 o'clock. will be sold by catalogue. at No. 1219 Chestnut street. Ladies'. Misses' and(ihildren's Furs, in. Mink, Sable, Royal Ermine and Siberian Squirrel; Mt ifs, Collars and Capes. • FINE CARRIA'tE HCBES, Alec lined and unlined W. If, Buffalo and Fano,. Car. risme Rebels. BALE-OF BOOTS. SHOES AND FURNITURE. ON FAIDAY MORNING. Jan. 29. at 10)4 o'clock. will be told by catalogue, at No '1219 Chestnut street 60 packages city made soots and Shoes ; also, elegant New Uoueehold Furniture B. SCOTT, Ju., AUCTIONEER. ' SCOTI 4 I3 ART GALLERY 1020 CIiEfaNDT street 'Philadelphia. BALE OF MODERN PIDIVREB, FRAMED CHROMOrS, gro ON TUESDAY and WEDNESDAY EVENINGS. :fenuary 26 and 27. At 7,%e o'clock,. at Scott's Art Gallery. N 04020 Chestnut erect will be 'sold. without reserve, a number of hand eomely &slued Modern Pictures, by celebrated artiste of the American and ,Eugiish del:mole, together with some by oldmeetets. • FRAMED FRENCH CU ROW) 3. Also, en invoice of Framed French Chromes , . 'Now openjor exhibition. Parties wishing to contribute to the above ealo can do so. By BARIUTT & CA S HQTIONEERS. AUCTION HOUSE,' No. 230 MARKlNittreot , oornor of RANK street. Comb mis•oncod on eonslaruoentm without oitr. .harse. NOTICE TO CITY AN D,COUNTRY MEW MANTEL, r LARGE STOCK OF MISCELLANEOUS Go' PDS. Ono pritdo g 1300 lota Dry .0 ockt o. Clotho. Calsohnerett,Shirto, In swore, Mocks of Ooodo. Army • lothlsg, Cutlery. 10Q dozen Balinorsafttcypoteady.lll",olo.,..thßtAttng, ON. WEDNESDAY MORNING. January VI. cbmmenclng at It o'clock. FURS, FURS. At II o'clock; 100 lota Mink Sable. Siberian Squirrel Amyl icon and German Fitch, &c.,in lota to suit the trado T. L. AMBRIDGE di CO., AUCTIONEER% No. 5a5 MARR KT 'crest above Fifth. SPECIAL SALE OF BOOTS. SHOES, &o. " ON WIDNESDA 1. MORNING. J an. 27; at 10 o'clock. ae win cell by catalogue., about 1000 caeca Men's. lioya , and Youtha , Boots,and list.uorais; Women's. M ',WOO and Children's Balmorals. Gaiters, Boots. dtc„. from city manufacturers. and country astern make. to which the attenlion of city and buyers !ensiled. .. THE PRINCIPAL = MONEY ESTABLISHMENT. 8. E. corner of BIRTH and RACE streets. Money advanced on Merchandise generally—Watches, Jewelry, L laroond 5, Gold and Silver Place. and on all artionts of value, for any iongth time agreed on 4 _ WATCHES AND JEWELRY Al PRIVATE SALE. Fine Gold limiting Oase.Double Bottom and Open Face English, American and 8 ivies Patent Dever Watches! Fine Gold Hunting COS° and Open Face Lopine Watches! Eine Gold Ennio*. and other Watches; Fine *inver t Hunt ing Upon Face Fnalish, American and thrill Patent layer andLepine Watches; Doable Casa English Quartier, end' ethet , Petite:root Ladies' Fratcy Watches! Diamond , Breastpins; Finger age;.Rl Ear Rings; Stasi &A; Fine Gold Chains; Idedalilons L Bracelets ; Bea l l rims Breastpins; Finger Rings tPeactil Cada arid Jewelrl • generally. Felt SALE.—A large and valuable FlroProM Cheats suitable for a Jeweler twit Bah ;Also, several Lots in Beath Clinlon.Ellth and lawiti3sl eASARTIN BROTHERS; AUJITIONERSE--- -- - . •• -...--...-,, • ~I,YA, • (Lately. Salesmen for IL. Thomas & Botts , 2 'VA P - o'4 , ~...fitt. MlSCUESTNUTaltreeLrearentranceftm&Ml ' .. go chestant itritta , nEtirgerr . *whiz la- noir asatialb .VI H. , TRENCH:PLATE MANTEL:' PIER AND OVA E. R(..Rfiki . FIANUSOM N. , B4OREWOOD PIANO _,„; rHATC- "INFOS, IRON CHESTS, ,U.A.blH4o4lfy ,miuguaus • .:. A ND OTHER OARPETs. ket ' - ... "- ON WEDNESDAY ilattialla,' January mat IA wetoek„-, at the suction isterVita :9 .. - obestant .1111, bytmtalogue,. very excellent Feral re. , , 'eluding Nandeome Parlor and Library Farniture.s Sethi '. - el , .extt Chamber Furniture, large and:elegant Wardrobe. • Walnut and Oak ExterialcrnTablet,' Dining Itdouvrittainty , _:'( ' elegant Rosewood Plano. Forte. fine French Plate Mantel. ' Pier Bud Oval )Sihront, gilt frames, ikon •cheetcolk 'mtg.,. .., , Bingle Corrie_go ..Finmettriaironze.Chnedellersill_andgerfak:,,, Velvet and urunteh,ii( f lrflete, handsome Cigar._ Omni: . '.--,.- Feather BON IRring • Nate+, China andGlasi.Yfer,&&q -... Sale No. 409 South Eighth street. HANDSOME WALNUT FURNITIRE, SO, I , titi .TEICIRSDAYr.MORNIN , , it . .. ~ ' Jan. M. at 10 o'cleek,-.e.t. No .409 flout Ergh . 111,,.W. ,:' i. catalogue., the ;entire - SupOrlor 'Furniture: ' mo tldbig--.• liand.ome -.Walnut and . Bp:metal° ',Porter :IFurnitare‘. ... /....: Lw go Centre Table.: Elegant Weiner' intanabll'oa; r L. rge Wardrobe. VerY fine:: FkeriOha Plate, Man i' , '"„ - , Pier Mirrors, handsomely' framed. HandscitnalideditilielC;,' ' ,•'• Velvet Brumehiand 'Other Car9 ol 4 g lauV r a "* .Kltalkilli. ' Utensibs. dm. " The'cabinet fu rn iture Wig esdi t. 0 ... cul er t hy , All en , ,:,,.; e..,.,. -Maybe aeon early op morrdnifef , gale, • ..`. " . '. ~; ....., ; • .. , " , ' . Sale N1:1r406 North Fifteentlietreet.. - ~--,..' „,,,,„_„- , ' ELEGANT WALNUT FURNITURE, HANTISOM.W.4 ..'! - • MIRRORS, ELEGANT Ro •EWOOD PIANO. VERI - ^-' FINE OIL PAINTINGS, RICH' BRUSSELSICIABPATe, ;,... FINE GLASSWARE AND 0141N4c..443; Z :-.-. , .- ' ,:i •..r) On TUESDAY MORNING...,_' - .„„„...' February 2, at to o'clock, at NO:, t 404 3 ,,, North Fifteenteti..;-. - at., above Master et., by catalogue, _Uie. entire Farniturato.v.i .': including -Very Elegant Walnut-end - Maroon Plash ''' - 'laming Roomluit. Centre -Table, Handeorrie.Wahnit Chamber Furniture. Two, Handsome_Walnut ilideboardth Superior Library Furniture, Booketuse. Elegant Rosettoodt Piano by Ramm. Very-Fine French Plate Mirrors, hand aomely framed, French Mantel Clocks, Rogere's Group. Fireproof Sliver Cheat, Hair Matrentee, ItiehillAttfilaaa...»...-.- v, are:Fine ' White F'rench f China. ; Pitted.. Ware, -: .• • BrustehrcarpeteCottegoSulti itchen UtentilLuit&O"' - i - ';&ii.l .ELEGANT 0114 PAINTINGS:* '_:- '''..", i_.,- , -; Alto. several fine subjects by Wm. &Oar:: Verboelc.7 .. 1 .. bo.ven, Bonfield, Dyke and others: Fine EugraviuVi &CF. ._ - - -So' furuitore WelitflaSe - ;t. 0 titil Or 1464.10 e1 e r. ,, ..g.q - 4. gent condition:- ' . ' . •. - .- . ; ‘l - , -, 'it'W-T May be seen early on the morning of_eale. ' ''' ' ''-' .; , .'t ~.`..:t,...‘,1, HANDSOME' ODERN RESIDENCE .' ' '. '''' ' • Immediately previous CO the sale of the Furniturext ' '1: - .. ~g _clock TEANDsosin MODERN TIIRERSIC ~......,„„ 4 BRICE- -ItEEGDENCE:- Double:Threwetorn - Rackril '.' , Lti inga side yard, lot of ground. 2M4 feet front, by_loo fee ~,.-;.'!" deep. No. 1406 North - Fifteenth etreet. above Alaaterit.;l';' . The house la in elegtuat,conditiont lase all.the mode rn etm.....,-, . veidencee and improvements, underground drainage. gm' ' . ' ~.,,, DAVIS dt ALCTIONEEREL ' • Late with IL Thomas &Sons: . Stone Nos. 48 and 50 North - SIXTH street. Bale at Pio: 7e5 Nohlestreet— surmuoit FURNITURE. TAPESTRY CARPF:III. BEDS, ATREdiI 138: grn. - - • - ON WEDNESDAY NORNING4 At 10 &clack. at No. 705 Noble street. the,euperier Per niture. Walnut Parlor Sultaapestry Carpets. flue Feather Pear Hair etatressea large Looking Glass. and Meehan Furniture and Utertribi.: C.D. EdoMILEI3 dr, Wi tt mums. 608 S ET street LIIRIBEU. MAULE BROTHER & oat 2500 South Street 1869 PATTERN MEW E 69 CHOICE SELECTION Oa ISIICHIGAN CO= ?NB ' PUIt PATITUINS, .1869 EPRI CF. ANDEMILOCK J. SPEUCEAItp!ipktdOCK . 18690 - L - A - R4E . BTOCit 1869. FLORIDA ELOORING. FLORIDA FLOORING. CAROLINA_ FLOORING. TIRoI NIA F L OORING. DELAWARE FLOORING. ASH FLOOR/NG. - WALNUT- FLOORING FLORIMASEFFINIARDS4-- 1869' , FLORIDit HTEP BOARD& • RAIL PLANK. RAIL PLANK.. 1869. 1 WALNUT BOARDS AND PLA.NK. IB69: ' , WALNUT - BOARDS AND PLANK. WALNUT BOARDS. WALNUT PLANK.'. At.S FU OR R TED CIABINET .LDER M S AKE &C. RS.' BUILDERS ' 1869 UNDERTARERS. LUMBER.. 1869: . UNDERTAKEREP- LUMBER RED CEDAR. WALNUT AND PANE. SEASONED POPLAR. sEASONED CDERIIY. ASH WM= OAK PLANK AND SOLED IDENORY:,', •- ..75 1869. CAROLINA SOAN'ILING, • ! 1Q 61 D CA RO LINA H. P. ILLS. NORWAY SCANTLING; - 1869. ,CEDAR SHINGLES. CEDAR' SHINGLEs. ' CYPRESS SHINGLES. -FOR ASSO AL RTMENT. SE LOW. 1869. PLABTERING LATH. 186 4 1 PLASTERING LATE. . • 11A11118 11"°.2soowlisoEuRrad'EPTRIVRT.. 1869. f 3 IMJ.I ri FRENCH MEDIOINgB riumumazr .l ORIMAULT 45 CO.. CHEMISTS TO 11. L 11, TBINOE Prkrormoti, IL RUB Iz&IttOtERLIF.X. DISEASES OF THE CHEST. • ' SYRUP OP IIYPOPHOSPHITS OF USE.: GRULAULT tSIC CO G11141418T13, PARIS— A syrup compotmaed with this neWI malt had been fro. IC! troduced by Dr. Churchill for the treattnent of palmttnair yhtlibis. Recent trials made at the BromutortConteentlf.;•" ,- - tion tiospitaL an lustitution taPecially devoted to, thill treatment of diseases of tho ' ebest.bave abundantlydso monstrated the absolute necessity of obtaining thiellear, therapeutic agent in the most _perfectly pure 'and Wetted condition. Each tablespoonful of eyrup contains foury , grains of perfecUy pure hvpophosphite of limo;" and se con pounded bl ty Otlmault ' (Jo.. ' of PULL flits. syrup is the on preparation which guarantees to that medical profess on all the properties required itv thlsr valuable medicine. Agents in Philadelphia. ,* FRENCH, RICHARDS di C 0.., N. W. en. Tenth and Market streeta. nPAL. DENTaIrJ.INA.—A SUPERIOR ARTIOLE•FOI . z. A./ cleaning the Teeth. destroying animalcule, which In N i ; feet them, giving tone to the gums, and leaving a feeling • of fragrance, and perfect cleanliness in Otts tironth..J.trerp.x,k be used daily. and will be found to strengthen creekmee breeding gums. while the aroma and.detersivertese Will recommend it to every one. Being composed with the' assistance of the Dentist. Yhysiciane and Micreatepht.it.. is confidently offered as a reliable substitute for, the en. certain washes formeri.v in vogue. ; s.k r Eminent Dentist/4 acquainted with the, eturetituenit* • the Dentelftst. advocate ita use ; it cons •nothingins prevent ittMrestrained_employment. Made Oar by, • Jam si T. %LUNN,- Apothecary, Broad and Elpriur eirteelet For date by Druggists generally, and • . • Fred. Browne, D. L. Stacithousi„ •, ; •• • assard & C0..l Robert . C. Davis. C. B. Keeny. eo. C;•Bower. T , • Isaac FL Kay , has. Shivers, C. B. Need S. B. M.mh T. J. Eart . B. G. Bunting,— ~ • Ambrose Smith'• :Chaa. 11_, Eberle, • Edward Parrish. James N. B. Webb. , E. Bringfrunt & James L. lalspham. Mott do Co., . • • t" •,, Hughes di Dombe. ' H. C. Blair 's Sons. - Henry, A. Bower. Wyeth do Bro. ' • • - 1 BABELIA MAEL9NNO. M., D. DO N. TWELFTEI 'Street. Connaltations tree „my9.l, mOP/►STRIESBHIPB; , . 7 pEiIIADEITHL9, JANUARY !Emu, 180.• , No. 104 EIHESTNUT 'STREET. The firm lately doing business at .No. 900 Ctiestnutr street, under the inure of HOWELL & BROTHERS, 1* this day dienolved. The business Of the late Hitt will, closed up by the present manufacturing Trip or 110 WELL •a. BROTHERS (composed of .OEOROE. , ZOPIIAR C. WILLIAM. DARIUS ; , U. HOWELL. an& . WILLIAM WILSON j. who are authorised to settle all accounts of the lute &rm. HOWErL, • GEORGE J.OPHARU. HOWELL. , ' WILLIAM 1101 YELL, DARIUS C. HOWELL, 'WILi LAM WILSON, • FRANCIS T. , 110 WELL. HORTON IL COOT E. PHILADELPHIA. JANUARY 14th, 1060. The undersigned will still continuo their business ad Manufacturere and NYholeesle Dealers in pAeltit &e., under the name of HOWELL & BRiiTHERS, aud are to be found nt preeent at pro. 104,,,i CHESTNUretteet. All unfinished bueiness ot tno late thin will be closed up, and allordens tilled by too present/1 fl.m. GEORGE HOWELL, * ' ZOPIIA it C. ID )WELL,' - WILLIAM floWle.Gl,i, DARIUS C. HOWELL, wiLLIANt Ititi , l)Ltal. o l4. THE CUL'aft'rtiEltSllle llEtt Zt..c, JJ fore existing lu thel name of JOHN( W. EVEttMMt & CO. le diebolved this 18th day of January, led % by tual consent. rho buelue , ll will be continuo& at $O,, Church street. by JOIIN'W. EVERSIAN, vital willtkanutrdi ' all liabilities of the late firm. and le authoTioneell to Make all moneys and dobta due tho ettid fun]. . JOIIN Evinh 3 / 4 4.11.„'' , HENRY ' K. STANDlttuutiE: • .oAleiriNNAilicii-,..,2'., :I'''-'i . .: ; : . ( .. -'.: . 7j.... 4 , -. .!. , i . 7 -,;.4 r+ "DODGERS. AND WOSTESHO4._ N POCKET ' .11, KNIVES, PEARL and STAWBADLES, of bean." Mut finloh. RODGERS , and 'i/oLADE do +IAIPPINIEW% and thn CELERRAUD I,Ecouv ritE RAZOX SCISSORS IN DARES 'of ' th e blest ' Baum, Knive Seinore end TableCutiery, (Round and Pottihod. FAR INSTRUMENTO of the Oat approved cotololtkoto, to meint the benne& et P. MADEIRA'S. Cutler an -our. . Meal Inetrument Maker, US Tenth street; below ' Nee,- udDirti AND SKoE-8, . ERNABfft. EIQPPt- 2 NOUTII ago on handhand 4loBo lan fil 'd gtEer n _of Gentletnea'a Benda and Moak the `7 0 4 lisl4lAon andwr n tataan etd made ( 0 oT3er.. p; slog . 4/4110:14 1869 J '' -186%,1,,
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