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1786.
PRO.PECTUS, 1869.
THE PITTBIJRGH GAZETTE.
This journal enters upon the 83d year of
an existence which has liner been more . Trig
; twins, or rewarded by the confidence of the
people with a more substantial support, than
now., —Always a . leading newspaper of the
:Commonwealth, the present generation of the
people, the. third since the establishment of
the GAZETTE in the last century, still regard
' • • it, as did their fathers, with unabated re
spect, and with an entire reliance upon its
hithful exposition of the soundest princi
pies of political and social eednomy. The
Proprietors need only point to /the
ished record of this journal id the past, "to
pledge, to , their fellow-citizens the same
•
fidelity, to the highest,considerations of duty
for th 6 futiire,
°._ - Our facilities, for' obtaining the latest and
most reliable news, increase daily. All re=
tognize our devotion to those political princi
.
pies which have recently achieved a fresh and
most signal yindiciition before the tribunal
of the people.. The effective services of this
jourial in promoting this , triumph are ae
kaiowledgekby an universal assent.
The GAZETTE enjoys to-day 'an admitted
influence in a wider field than ever before.
It is no longer regarded as a mere local
joarnal, bat has acquired an interest, as
joarnal of the nation, which commands at
tention to its utterances abroad as well as
at home t Its managers will aim' to main
lain and increase ihis influence by e \ very just
• m
mewls. - , lt will continue to be, as the past,
the onlypinitital journal in Allegheny county
•
, which Will be accepted by the people, at home
or abroad, as the faithful, steady, ever•true
exponent of those Republican principles wtich
• one Administration and four successive Con
, gresses lave loyally and successfully
inter
preted, and which the Ameriean people have
just, now once more emphitically approved)
The close of a momentous political strug
s - glo, and tke victorious situation to which
that has brought us, wilt find the .GAZETTE :
acting in harmony with - the new Adminis
tration of the Government in its most in-"
partial depar meats We shall have'access
to the most reliable sources for early, area
rate and abandant infoimation, ou all mai
lers transiaring. at the ; National and State
Capitals, and will make the collection of such
alinding specialty. Our special
and replar. - daily reports from Washingion
and Harrisburg, parlicularly daring the
approaching sessions, will be early, minute,
aninterrupted, and fiom the very highest
MUM. •
The DAILY GAZETTE, at only two-thirds
pike charged by other journals, will
_give an equal amount of interesting matter,
its eight briaid,paies making it the cheape t,
as it is the one of the largest, daily journals
of ihe Common.wealth.
The WEEKLY GAZETTE,withite day
of pubifultion_ so-arranged , at to suit all lhe
mails from this citY, will. glee the same matt
ter in its forty. eight, eolu Inns, to all its readers,
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the State.
Its Editorial, News, Com Menial, Eiver,
Ananciaklieligious, A,gricultural, Bckntifw
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- conspicuously manifested, and which confess
wdly regards the GAZETTE as - the''special
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ing interests of Weitern
The Market Reports of the WEEKLY
GAZETTE are a standard authority . in
Comniercial circles throughout this region..
Its flit are accepted as an authority for ref
crones' in th i e Courts of this County in impor
tant urtiell, to determine the rulings of price:
de any given period in dispute.
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DAILY GAUTTE:,
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Six Months, 4 00
Three Months, • • • 200
Dellrered in any part of the Cities and
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PENNIMAN, REED & pO.,
GAZETTE
84 and 86 Fifth Avenue, Pittsburgh.
Egr Country papers in Western l'ennityl
;eania, Eastern Ohio, or Western Virginia,
_pub/ishing the above and sending a markid
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fhange for one- year. .
MAT HIER
TViria"-.IIVV. O'CLOCK M.
THE CAPITAL.
Union Pacific Railway—T. B.
Florence Appointed Assessor—
Currency Matters—lndlan Visi
ters—U. S. Supreme Court.
ccg Telegraph to the Plttsbirgh Gazette.
WAsmsroToic, Dee ember 6, 1868.
UNION PACIFIC RAILROAD
-Vice President Durant and. Col. Seymour,
consulting engineer of the Union Pacific
Railroad, have laid before the President a
review of the Special Commissioners report
on that road. The ComMisaioners state
that of the six - millions they have estima
ted the road- will require for substituting
wooden bridges with stone and iron bal
lasting, and additional equipment_ to pre
pare it for the through travel wtien com
pleted, they have -not given the Company
credit for any of its works ,in progress.
The Commissioners estimate that of this six
million, about three millions will be re
quired for locomotives, cars, cto. The Com
missioners say that one-half of this is already
being prepared, and the remainder will be
pads , 'when wanted. The Company do not
admit that all of the expenditures recom
mended for additional ballasting, fencing,
etc., is now necessary. but express its read
iness to make the line first class in every
resnect, and consents that the Government
shall reserve sufficient security until the
completion of the road for this purpose.
The difference between the Commission
era' and the Company's estimates is about
one,and a half million dollars on eight hun
dred and ninety miles. The Company re
portan expenditure of over eight million
dollars for grading, iron and equipment of
walk in progress and not completed. It is
understood the issue of bonds to the Union
Pacific Company will nbw be continued,
and there has been no interruption to the
work. •
TREASURY REPORT.
The report of the Secretary of the Tressa
ury has been printed, and copies will roach
the Treasury offices in the principal cities
in time to be delivered to the press on the
day the President transmits his message to
Congress. Secretary McCulloch says the
statements published purporting to give a
synopsis of his report are bogus, as from
toe care taken in tbe printing no copies
have been surreptitiously obtained.
THE MESSAGE.
It is still uncertain , whether the Presi
dent's Message will be communicated to
Congress to-morrow. The greatest care
continues to be taken to prevent copies
from being surreptitously obtained and
published, as last year, in advance of offi
cial promulgation. •
GEORGIA SENATOR S.
The Senators elect from Georgia, Messrs.
Christy and Whimper, have arrived. Mr.
Christy comes with a certificate from Gen.
Meade and Mr. Whimper with a certificate
from the Governor, as members elect.
Judging from the number of Congress
men here, and, those known to be on their
way, there seems to be no doubt of a
quorum in both Hotisea to-morrow. •
BONDS ISStrED.
The Secretarj , of the Treasury this morn
ing issued bonds ,to the. Central Pacific
Railroad amounting to ))640,000 for the sec
tion commencing at the 390th mile post and
terminating at the 410th mile east from
Sacramento.
ASSESSOR APPOINTED.
- 4 The President this morning appointed
Hon. Thomas B. Florence Assessor of In.
ternal Bevenue for the Second district of
PenhsylvaMa, vice C. S. Phillips, deceased.
• CURRENCY MATTERS.
The receipts Of fractional currency for
the week amounted to $553,000; shipmentB
5340,978: amount destroyed 13605,900. Na
tional Bank currency issued for the week
K 84,430; amount in circulation $299,874,409.
INDIAN VISITORS
A delegation -of Sect; and Fox Indians
called on the President to-day to complain
of their agent, who they charge is using his
power for the benefit of traders regardless
of the Interest of Indians.
11. S. SUPRIL2IT4.COMIT.
Chase and several Associate Justices of
the Supreme Court have arrived. The De
cember term of the Court will commence
on Monday. •
STEAMBOAT coLLISION.
Tile Steamers “United States'i - and "Ame
rica"' Collide on the Ohio Itiver=Both
Boats Burned—Seventy...Five" Lives Re
ported_Lost—Partial List oil Saved and
Lost. * 4
[By Telegraph to the Pittsburgh Bazette.l
MADISON,. IND., December s.—The Madi
son Courier says of the terrible accident on
the Ohio river last night; at half past elev
en.
o'clock: The magnificent steamer Uni
ted States, descending, and the America,
ascending, collided at Boyle's 'Landing,
about two miles above Warsaw, on the In
diens side. The United States had a nun
,
tity of petroleum oil on her guards. The
America struck the United States on the
starboard, right hand side, forward of
the steps, cutting into her a .considerable
distance, Sinking the United States to about
the main deck. In two minutes fire was
communicated in some way to the petro
leum oil, and as soon as they collided they
were in flames. -It is said that some mis
take was made In signals.. The America
blew her whistle twice, which the pilot of
the United States apparently .did not bear.
The America again signalled by two blasts
of the ,whistle. Then the United States
answered, but it was too late, the steamers
were at the point of collision. The excite-,
ment wuterrible. •
It is supposed that seventy-five or eight
ty persons have lost ther lives. Several of
our citizens were on the 'Milted States
returning from Cincinnati. Three of these,
Mr. Steele Bright, Lew Norco and O. B.
Sappington, are among the missing. The
receiving clerk, James Johns, ofthe United
States, is also missing. ,It is estimated,
but under the clroumstancesthis must be a
mere guess, that thirty-three women on
the United States were lost. W..C. Tay
lor, clerk of the Anierica, • after securing
the bookii, register and valuables,- went
through the cabin kicking in the doors of
the state-rooms. Through this precaution
and the coal intrepidity o(Mr. Taylor, no
lives were lost on the Amerlm.
Oar townsman, Harvey, Foster, was on
the United States returning froth Cincin
nati. He informs us that he aud a party
from this city had just left the ladies' cabin
where they -had serenaded Mr. Iniskeep
and lady, Mr. Foster • standing in the cabin
near the clerk's office, and Mr. Bright was
on the outside. The latter came running
ba saying, the steamers are coming togeth-
TSBURGH, MO NDA
er; they felt/the shock. Mr. Foster looked
around - immediately and all forward was
in flames, ((He ran aft and with the help
of a deck hand loosened one of the fenders
on which.' both floated ashore. Mr. Jos
keet and ladyjumped "from the United
States to the deck of the America, , a dis
tance of fifteen feet, and were saved—loos
ing all their clothing.
Survivors of the terrible accident write
in praise - of the management of the Amer
ica, after the collision. It was not thirty
seconds after the' boats collided, before the
,United States was a mass of flames from
stem to stern. The America 'might have
been saved had she not attemptedwhich
-was her duty to do---to save the passen
gers' on the United States. Those saved
owe their lives to the coolness and courage
of the officers and crew of the America.
Her engines were kept running until the
boat was made fast to the shore. The.pilot
stood at his post until the pilot house was
burning around him and then left to avoid
suffocating.
The destrUction of these fine and costly
steamers, and the most terrible result in
loss of life; and the fate of the ,missing,
friends, have cast a gloom over the com
'triunity. We still hope .that our missing
friends have made shore at some point be
low, and have been saved.
FURTHER PARTICULARS.
CINCINNATTi December 6.—Further par
ticulars in regard to the steamboat col
lision yesterday show a larger loss of life
than at first supposed. Immediately atter
the collision -the United States was en
veloped in flames, which was instantly
communicated to the America, both
steamers being completely enveloped in
less than five minutes. ,
There were about seventy-five cabin pas
sengers on the United States, more than
half of whom were lost. The' reports of
the officers are very conflicting, but as near
as we can learn forty-five passengers, in
cluding eighteen ladies, and in addition
seven of the officers and cabin crew; were
lost, while only four out of twenty-two
deck hands are known to be saved.
The accident is attributed to a mistake
in the whistle. The United States was
built at Cincinnati, cast two hundred and
thirty thouband dollars, and wag insured
for one hundred thousand. The America
was built in 1867, at a cost of two hundred
and forty thousand; 'insurance one hundred
and thirty-three thousand, principally in
Cincinnati.
Those passengers on the United States
known to be saved are: M. Seickler, and
wife, Fremont, Ohick, James Price and
brother, Louisville, Lee Kahn, Dr. Leslie.
Cincinnati, B. Nelaon, Allegheny City, Pa.
Martin Pearce was saved lkis mother and
brother were lost. Captain Joseph McCa
mant, Cincinnati, was burned about the
neck; Robert Nelson, Newport,' By., was.
slightly burned. Injured—J. H. Green and
ladg, Sol Harris, Louisville, Geo. A. Mid
dleton, Cincinnati, W. W. Hanley, Cin
cinnati, Chamberlain, Cincinnati, Mr.
McF'aran and wife, Nashville, Mr. Mays,
Nashville, J. B. Fisher, New York, S. R.
Clark, Memphis.
The following are missing but supposed
.to be saved : J. Crawford and lady, Mr..
Ragge and wife, Mr. Huddle, wife and
daughter, B. F. Morris, B. Glessinger, Mr.
Otter, J. Maddox, P. Hartman.
Those lost on the United States are: Mrs.
It. A. Jonas and daughter Eva, of Waynes
-ville, Ohio; Elijah Font, colored, A list of
the United States passengers cannot be
correctly - given, °skiing - to. the loss of.the
Clerk's register. Rev. Mr. Parvin and Rev.
Mr. Risley, of New York, are missing, also
Mrs. Harriet Warring. of New Albany and
a young lady in her company; Mr. Higley,
John F..Bnrns, J. M. Lemdower,W. Look.
Wm. Garvin, L. R. Johnson, M rs. Geo. W.
Griffin, G. Heidlaburg, Miss Mary L. John
son, Steele Bright, 0 B. Sappington, L.H.
Vance, M. Elfews, Mr. Hammers,. Wm.
Briggs, Charles Rankl Mr. Pope and Mr.
Hess are supposed to be saved.
The officers lost are. John Fennel, stew
ard; Richard Marshall, second steward,
James Johns, third clerk; James Fennel.
barkeeker. and Dave, colored barber. Mr.
Hays, of Nashville, - was severely bruised,
Out of ten &mien on the United States,
only three were saved.
Ole Bull was among i he passengers saved.
- Vice President Smith, of the Indianapo
lis and Cincinnati Railroad, tendered the
Mail Company a special train for the use of
the wounded-and unfortunate.
The Mail Company has been organized
thirty years, and only two accidents have
happened to the steamers of the line ip that
time.
The wife of Commodore Thompkn, and
a. lady traveling with her, were lost. Mrs.
Hayes, of Nashville, is missing; John Noo
se], of OwenvilleOhio, was lost; Harry
Brunswick, billiard manufacturer, of this
city, is missing. ,1
The yawl of the United States was swung
upon the stern derrick, when the deck
hands made a rush for it, upsetting it and
throwing them all in the river. " ManY of
them were drowned. There were ninety.
six passengers on the America, only one of
whom is known to be lost. /
The wreck of the America lies against
the bank on the Indiana shore. The United
States lies in sig_feet of water about one
hundred yards Above the America.
MADISON, 114/), December 6.—Eight
bodies have been recovered,from the wreck
of the steamer United. States. Seven of
them were so badly burned they could not
be recognized. The other is supposed "to
be that of Mrs. Pearce, Of Louisville, Ky.
The steamer Graham has been chartered
and will leave at two o'clock in the morn—
ing, taking skiffs, draggi, nets, &c., to
search for bodies..
LOITISVILLB, December 6.'.--Besides those-
already mentioned es having been lost on
the United States, are two ladies nut on
board at Cincinnati by Mr. 1V helan, of
Philadelphia, a lamd gentleman and wife
from New Hampshire, and a man and his
sister from Natchitoches, Louisiana.
CANADA.
The M'Gee Assassination—Snow Storm.
My Telegraph to the Pittsburgh Gazette.)
TORONTO,, December s.—The argument
,
on the assignment of errors in the' case o f
the crown against Whalen was held yester-
day in the Court of Queen's Bench. The
judgment will be delivered on the 21st.
About a foot of snow fell last night, and
it is still snowing.
TORONTO, December s.—The schooner
Jane Vankirk went asore on the Island last
night, and is a cmplete, wreak. The crew
spent the night in the rigging and were
rescued by the Island fishermen to-daj.
Whalen, the Fenian culprit, will not be
executed on the 10th as sentenced by Chief
Justice Richards,the proceedings on writ of
error act as a stay on the sentence. If ,
judgment is rendered against the prisoner
be will be remanded to Mowa and suffer
the penalty of the law, to be fixed by the
Judges. ,
Philadelphia Eltegon Friads.
By Telegraph to the Pittsburgh Gazette.)
PHILADELPHIA, December s.—ln the
Court of - Common Pleas to-day two:Judges
gave their opinions denying the motion to
quash the petitions of Tyndall, late Re.
publican candidate for Mayor, and others,
in the election Contest. Judge Ludlow dis
sented. It is supposed the Court will now
order the testimony to be taken,
=I
DECEM BE R 7, Nes
SECOND 11111101.
FOUR O'CL.OOIX A. M.
FROM EUROPE.
l
Start ing Rumor from France—
:lap oleon Reported Billed—
Speech for Defense:at the Rau
din Trial—London Times and
the Alabama Claims—The New
Ministry—Baron Bengt Made a
Count.
[By,Telegraph to the Pittsburgh Gasette.l •
FRANCE. •
• .
LONDON, December 5-S:SO P. sr. -There
are 'vague rumors afloat in this city of a
general ;wizen; of newspapers and conflicts
between troops and thobs at Paris. These
rumors,
_though not confirmed, have
caused a panic in commerrtal circles In this
city.
DECEMBER s—Midnight. —Telegrams from
the New York Associated Press announc
ing uneasiness in America on the reported
killing of Napoleon, were received to-day.
The rumor was entirely without founda
tion, the Emperor not being dead or even
ill.
Dispatches from Paris tad/1(P repert that
the city Is tranquil.
Pettis,--December s.—The panic in com
mercial circles here was occasioned by ru
mors of the Sublime Porte's decisive ulti
matum to Greece.
CRT Steamer.)
Nuw Yong, December s.—The following
is an extract from the argument, by M.
Gambetta, counsel for one of the Paris
editors, in the recent 13audin trial. Refer
ring to the 2d of .Decenaber, 1851, he said:
"Triose who have put the country , under
embargo availed themselves of the new
facilities afforded by science to communicate
more rapidly with each other. Centrariza
tion and terror comPleted the mischief.
Taris was made use of to deceive the prov
inces; the provinces were held up as an ex
ample to jockey . Paris; steam, and the tele
graph became instrumentsOf this nefarious
conspiracy. The news was spread through
the Departments that Paris had submitted;
it was butchered into submission. It was
being mowed down by musketry and grape:
Gentlemen Of the Court: You cannot grant
that, which is Claimed at your bends. That
great trial of the 2d of December cannot
finally- be decided br , any Court. It
was tried yesterday ; it will be tried to
morrow—alwa vs—everywhere. So long
as justice shall not have been done, this
great case will ever remain on its trial lit•
Paris, London, Berlin, Now York,through
out the rorld;- and everywhere human
conscience will return the same un
changing verdict; but there is another
point by which our adversaries are self-con
demned. For seventeen' long years you
have been the 'absolute, the discretionary
masters of trance—that is your own ex
preszion. Wewill not inquire what you
have done; how you have axpended her
blood and her treasures; what her honor
,andglery have behotne at your hands; we
will not .inquire as to, ho w . her prosperity
and her commercial and financial integrity
have faxed, with they financial mines daily
sprung under your very feet. The inquiry
would be suPeriluous; but whit judges bet
ter than we dots the confession of your own
remorse. Yoti have never dared to, cele
brate the 2d of December as a national so
lemnity, because you know the reprobation
it would meet with. We will appropriate
that anniversary. We mean to celebrate
the day on every opportunity until the pe
riod of the great expiation comes to hand."
GREAT BRITAIN.
LONDON, December s.—The Times, in an
article on the Alabama claims, argues
against the British government yielding to
the new demand of Mr. Seward that the
question of international law be submitted
to the commission.
The Times says the American Commbs
sioner will come committed against Eng
land, and claims that by national Jaw the
British Commissioner will be driven to the
oppoSite view.
The Times regrets that Lord Stanly has
been robbed of the glory of the settlement
of these international difficulties, but is
certain that Lord Clarendon, or whoever
the foreign Secretary may be, will pursue
the same policy. \
Lorincov, De c ember Playfair,
eral, la elected to the Commons for Edin
burgh and St. Andrews.
The Times says the new Ministry will be
complete this afternoon. It believes the
following have been selected: Earl Rue
sell, to have a seat without the portfolio;
Earl Clarendon, Secretary of State for For
elgn Affairs; Robert Lowe, Chancellor of
Exchequer; Edward Caldwell, Secretary of
War; John Bright, Secretary of State for .
India; Henry Woods, Lord High Chancel.
lor; J. D. Coleridge, Solicitor: Gen. For
tesque. Chief Secretary of Ireland; H. C.
E. Childers„Pirst Lord of Admiralty.
Ministerial rumors are inconclusive, It
is understood that Coleridge declines to
hold office under Collyer. Palmer is also
excluded by his anti-disestablishment
views. Mr. Moncriffe, Liberal, has been
elected toParliament for Edinburgh Uni
versity.
LONDON, :December 6.—The Observer
gives the following as the list of members
of Mr. Gladstone's Cabinet: Lord High
Chancellor, Sir William Page Wood; Pres
ident Privy Council, Lord Kimberly; Lord
of the Privy Seal, Earl Russel; Chancellor
of the Exchequer, Robt. Lowe; first Lord of
the Admiralty, Mr. Childers; Foreign Secre
tary. Lord Clarendon; Home Secretary,
Henry A. Bruce; Seeetary of War, Mr.
Cardwell; Secretary for India, Duke of
Argyle; Colonial Secretary, Earl Granville;
Secretary for Ireland, Chichester Fortes.
cue; President of the Poor Law Board,
Mr. Gosehen; President of the Board of .
Trade, John Bright; Postmaster, General
D. E. Grey; Chancellor, Duchy of Lancas
ter, Charles P. Villiers; Lord Lieutenant of
Ireland, Earl Spencer; Lord Chancellor of
Ireland, O'Hagan.
SPAIN.
MADRID, Dec. 6.--The Imperial newapa.
per urges the concession Of every liberal
reform to Cuba and the speedy settlement
of the question of slavery, but says Span
ish honor demands the suppression at any
coat of the insurrection; which- t declares
was incited and kept alive by American
iillibustsrs. Carlist movements are orgaiii
zing in Catalonia and Aragon. The . provis
ional government has invited bids for the
contract to lay a telegrapnlo cable - between
Cadiz, the Canaries and Cuba._ '
AUSTRIA.; ,.
VIENNA, Decernber s.'=-The Emperor
Francis Joseph has made Baron Beust, the
Prime Minister, a Count, as an acknowl
edgment of his valuable services.
TURKEY.
LONDON, December 6.—A dispatch from
Constantinople states the Sublime Porte, at
~ i ~ ~-- - ~.,..~..T..+., .; ~~
the solicitation of Russia, continues diplo
matic relations with Greece, but has sent to
the Greek Government an ultimatum
which is supported brt he great Powers.
QUEENSTOWN, Nokember s.—The steamer
Scotia from New. York arrived this morn
ing.
FINANCIAL AND COMMERCIALL
LONDON, December s.—Evening—Cons l ois
for money 92 1 .4a92%, for account 923/ 8 a92.
5-20's quiet and easier at 64%. Stocks fiat,
Erie 2551, Illinois Central 96x, Atlantic
and Great Western 37%. - -
FRANKFORT, November 5.—80nd4 799ga
794.
LlvEnrooL, November s.—Cotton lower
and, closing heavy; sales of 8,000 bales of
middling uplands•at lid., Orleans at 11Xd.
Breadetuffa heavy, with heavy quotations,
and unchanged. Provisions anchanged.
Lard quiet at 655., 5d.,. Bacon 555. Pro
duce, Common Raisins 65., 3d., Spirits Tar-
Tu rpentine quiet, quoted at 28a. Potroleum
ANTWERP, N6vember s.—Petroleum 53f.
liavus, November 5.-4 Cotton at 130
francs on spot, and 122 What-
Lozioos, November 5.-4darket un
changed. . '
FRANIEPORT, November s.—Evening
-5-20's closed flat.
PARIS, December s.—lvening.—Bourse
closed dull. Rentes,7o francs 42 centimes.
HAvnx, Decembr O.—Cotton closed
heavy, both on spot and to arrive; tres ordi
'towel in port, 129 francs; to arrive, 121
frands.
ANTWERP, Dacember 5.--Evenzng—Pe
troleum closed easier, at 52La53 franca for
standard' white.
NATIONAL BOARD OF TRADE
Convention at Cincinnati—Fourth Dora
Proceedings—Resumption of Specie Pay.
went.
[By Telegraph to the Pittsburgh Gazette.]
CINCINNATI, December s.—The Convert:
vendor' . wad called to order at twenty min
utes, past ten o'clock by President Fraley.
The proceedings-were opened with prayer
by Rev. Mr. Moore, of the city.
Mr. Fraley, on behalf of the Executive
Committee, replied that the Committee,
recommepd RichniOnd, Va., as the place
for bolding the next Convention, which re
port was adopted.
The Committee on Credentials presented
the credentials of Mr. Burwell, delegate
from New Orleans, whereupon the member
took his seat. The President, Mr. Fraley,
opened the discussion this morning by re
sponding for the Board of Trade of Phila
delphia. He commenced by reading sev
eral propositions ftiverinsr resumption of
specie payment after the first clay of Jan
uary, in the year 1870; also, that no further
sales of gold shall be made under United
States authority; that legal tender and
national bank notes shall, be receivable
for duties on imports; that after July, 1870,
legal notes shall he redeemable In gold.
He thought that the greater part of:thedif
floulty originated at the time of the adop
tion of thepresent system, but it hag been
greatly aggravated by the policy of the
Government in respect to the payment of
duties on imports in gold. He thought
that had the duties been payable in legal
tender, gold could 'bairn been\ procured for
ten 01i - waive per cent. the purposes'
ofthe Goiernment. He thought that a cer
tain amount of coptraction was necessary
to bring abouethe result that ar)auld have
been realized long ago under lfferent
management. He would-not disturb the
present rates of duties, but by receiving a
portion of the duties in legal tender, an
.converting the notes so received, the con
traction of the currency might be ef
fected without serious disturbance of
business. He thought that the notes
of banks •Should be placed 'Oll the
same footing as the• legal tender notes
of the Government. He would pro
vide also for such gradual contraction of
the currency of bank* as would enable
them to safely resume and not disturb bugs
iness. A basis of one-third in specie is at
all times sufficient to redeem the circu
lating notes of a bank, and would also be
sufficient for the same purpose With the
Government. He thought that under this
system of calling upon the banks period
ically to redeem a limited portion of their
circulation, they would be reminded of the
:necessity of keeping on hand ample re
sources. He thought that on the first Mod
day in May, 187 u, there would be found in
the Treasury of the United States at least
coin to the full =bunt of one-third of the
notes in circulation. Should this, however,
not be the case, the propositions provide
for the sale of 10-40 five per cent, bonds for
a aufficient'supply.
Mr. G. B. Ramo, of Cairo, said that' he
found a great difference of opinion as to the
volume of the currency. It is the opinion
of „some that there is such a disparity be
tween the paper currency and ,coin._ that
specie payments cannot be safely resumed
at an early day. • He thought/resumption
could not be effected without great disaster.
Where are you to get the ten millions a
month for contraction? / It must come
from the business of the country. He was
opposed to the enforcement of all contracts
in coin before the general resumption of
specie payments: The people of the corm.
try can resume specie payments so soon
as the Government shall resume. We can
not expect to resume except by act of Con.
gress.
Mr. Ropes held yesterday that the im
ports must - be reduced so that the influx of
gold will pay the balance to Europe. • The
great body of the peoplewill not be likely
to economize so long as they can be extrav
agant. He thought that the proper regula
tion of trade must be the result of. legisla
tion. The practice of letting foreign m
porters bring in goods, 'and then, when
they find the market overstocked; to allow
them them to withdraw them with the re
mission of duty, be continued, it will inva
riably cause overtrading and a fatal de
mend for coin to settte balances. Every
importer should be compelled to pay
duties absolutely. Let him import at his
peril. [Applause.] The manufacturers of
Europe have their factories in this country.
and they import with perfect safety to
themselves under the present system. The
exportation of gold coin this year will
amount to eighty million dollars. We have ,
in a few years exported of gold to pay bal
ances of trade one billion two , hundred mil
lion dollars, and that, too, to pay for the
rags which our people could just as well do
without, Could W 9 retain the coin in the.
sxturtaty there would be no trouble about
resumption.
Mr. Brown, of the . Portland Board - Of
Trade, was the next •speaker. He watt
from a - region that had suffered more than
any other portion of the country, except
the South. We believein the ability of the .
Government to pay its debts according to
the original understanding at the time they
were created, and we are for immediately
placing the credit of the country where it
should be. The delegations of the noble
States of Massachusetts and Pennsylvania
come here resolved to restore and sustain
the credit or the nation.
'lib.. B. T. Lansob, of Portland, Me., advo
cated the contraction of greenbacks and the
expansion of bank currency. The Govern
ment has for tlye,years sold gold through
.wnwnionm.mmmw
MEM
revoa
ARRIVk.:II OUT.
one channel, at Wall street. They have
been in the "bear" busine-s. He would
have the Secretary of the Treasury, when,
he has a supply of gold, give notice to the
Secretaries of War and _Navy that they can
purchase supplies with gold. This would
not pow gold into Wall atreet. Our banks
must be satisfied with smaller profits than
they have been making. We should tell
the banks that if they do not deal inure
fairly we will putt be screws on.
Mr. Branch, of Richmond, said the aub
stantial people of the South were all inter
ested- in the early- resumption of specie
payment. We of the South don't know
moth, but whit we do know we know as
well asanybody. • We think we know more
about depreciated currency than you do.
He had. paid $2,50 for a turkey and ft 15 for
a barrel of flour. One of the worst effects_
of depreciated - paper's the amount of labor
taken from the productive power- of the
country.. labor taken off in speculation..
The gamblers of New York disorder the
whole affairs of the country. We of the
South have not half the amount of bank
ing capital we load before the war. He pre- -
sented a proposition for relief in this fe::'
spect to the effect that one hundred
were needed, and Congress should author
ize the issue of that amount of bank paper
in return fbr a similar amount of legal
tenders secured by 5.20 bonder..
Mr. Allen, of St. Louis, said that the
Board was about ready to take a vote on
his proposition. He proposed to substi
tute the Ist of July for the 4th of July.
1870, as the proper time for resumption.
Mr. Touney, of St. Louis, entered into a
calculation to show that on a gold basis two
hundred and eighty•millions of legal ten
der would go as far in trade as four hun
dred million does at present. As long as •
,Congress shill -continue to shake business
by as many resolutions and bills As there
are members, there will be no settjedorder
of business.
Gen. Stannard, of St. Leeds, did not-be
lieve the time had come forj fixing the
any day on which to resume specie 'pay-,;
`meats.. A tuition that under the troubles
of the past seven years can maintain &Cur
rency within 35 per cent. gold, need never
fear as to its future condition. He believed
the declaration of resumption of specie
payment at any given time would _cripple
all great enterprises of the country. He
;would be slow in disturbing the currency.
'Ho would encourage the building -of the
Pacific Roads. Be thought ultimately we
would be able to fetid foreign people
cheaper than they can feed themselves.
Mr. Kirkhans, of St. Louie, offered a res
olution recommending the gradual de
crease of the premium on gold by resum- •
in g specie payment of legal tender notes. _
Mr. Drake, of St. Paul, said suspension at
any moment was a national disgrace, and
to continue it beyond the necessity of the
case was a naal crime. Now is the time
to do our dut\The nation has the ability
now to resume specie payment. Let a day
for resumptiOnbe fixed and all classes will
prepare for it. Suppose contraction should
affect business: Somebody has got to be
affected under any circumstances. He
was opposed to any government circulation
that would induce all sorts of speculation
and 'eternally embarraiwing the country.
Mr. Davis, of Toledo, did not believe gold
enough could be had to keep up specie pay
ment twenty days. He offered a resolution -
that the gold interest received"by banks on
bonds deposited should be kept until it
shall amount to as' much as they are • re
quired by law to keep, both of - coin and
greenbacks.
Mr. Burwell, of New 'Chime, said there -
was a time when the South took no interest_
in the payment of the public debt; but now
the had accepted the siteittilort, and New.
Orleans, as the second exporting city of the
United States, is anxious for the resump
of specie payments at an early day.
Mr. Hazard, of ;Buffalo,- offered a reiolu=
lon for the gradual retiring of legal tenders
anfi,increasine . the - amount of gold in the'
Treasury.
,
Mr. Guthrie, of Buffalo, was against the
imniediateresumptionef specie payment.
Mr. Gano;of Cincinnati, said that what
had been said Non the conservative side of
the question waS , in 'the main his yiews. :„
After some explanation from the St.
Louis delegation, Mr. Holton, of
kee, moved to have theNwhole subject,with
all the propositions, referred to a commit-
tee of seven, to consider them -and report
fora final vote:
Mr. Randolph:of Chicago. seconded the
motion. The whole subject sieluld goto a
Committee.
Mr. Ropes, of Boston, thought this the
only way to get out of the subject,
Mr. Holton's motion wa,s unanimously
carried.
,'Mr. dtranahan-then offered a resolution
asking Congress to fix a time for resump-
Lion. Referred. • - -
Mr. Davis, of Toledo, moved the Presi
dent's name be added to the Committee.
Carried. I' -
The President announced the Committed
as follows: Messrs. Holton, of Milwaukee,
Meyer. of Bt. Louis, Ropes, of $0.4013.
Stranahan, of Nevt York, Davis, of Toledo, -
Randolph, of Chicago. and Branch, of Rich
mond.. The President, Mr. • Fraley', was
added.
Mr. Walbridge, by leave, addressed that
Board on railroad matters.
After - incidental proceedings the:Board'
adjourned until,Monday. •
RICHMOND, VA.
Applying the Fourteenth Amendment—ln.
terest ou the State Debt—Jett Davis
`Case. • -
(By T. , legraph to the PllttsbuFgh
RICHMOND, Dec. bib.—lt is understood
today that it is the intention of Gen. Stone
man to proceed at once to apply the Four
teenth Amendment in filling the cocks of
clerks of courts and comnfonwealth attor
'nevi in the State. A list or persons who
are eligible le being prepared by the civil
• authorities. •
*, It is officially stated-that the July inter
est on the State debt, two per cent. will be
paid on January Ist.
In the United States Circuit Court. this
morning.. Chief Justice gave a certideats
of the division of the opinion on the •
motion to quash the Davie indictment.
The case of Davis in this Court was then
continued 'until the May term, in order
that tll - 0 motion to quash maybe decided.
in the Supreme Court before the, cafe is
called again. The Court directed arenew- •
al of the bail -, bond of the prisoner toThe
made. •
DELA,tV" B.
•
The Pillory and Whipping . Pbst -at New
Castle.
(By Telegraph to the Plttaburgh.Gazette.] •
NEW CASTLE, Del., December 5..;40t1ePh
Cleohy, convicted of arson and l a rceny,
•
stood . in the pillory here one hour this
morning and subsequently received thirty
•
lashes. He was then' sent back to jail for
five years.. Jonathan Gravest for larceny,
stood in the pillory one hodr. Ho subse
quently received twenty lashes and was sent
back to jail for six months. George Harris
received twenty lashes for the larceny of
five dollars and was sent back . to jail. The
crowd was not as large as natal on account
of rainy weather