VOLUME i. Address of the State Central Committee To thr J'ro/ifr of 1 'er, nnylvan in : FELLOW CITIZ', NS ;—The result of the recent election the amendment to the Constitution r, t - t ) ie Htate. allowing sol diers i» the ti e lj (o vote, is gratifying, in asmuch » 4 shows that the great heart of the (Of jmonwealth is right, in the iearful oloody struggle going onto preserve a great republic, and that these brave ' men are worthy to help govern, the coun try for which they make so many sacrifi ces and suffer so many privations. The friends of the Union have brought about this result, while the opposition have used their poweiful organization to prevent it, with the evident objcctof weak ening the Cnion armies by disfranchising the soldier, and thereby strengthening themselves at the approaching Presiden tial election; and i.i connection with this election let us reason together. The campaign of ISijf is now fairly opened. The issue upon which the cam paign is to be made is clearly indicated. The enemies of the government have publicly and authoritatively declared their purpose in tho contest. That declaration places the duty of patriots in a light as broad and clear as that of noon. There is no mistake either the spirit or the ob ject of our opponents; it is the same that impelled tho chiefs or armed treason to attempt tho overthrow of free government on this continent in 181)0-61. Neither time nor reflection, nor regard lor the ]»ence of society in tho loyal States, nor tho desolations which have devouied the prosperity of tho south iu the grip of war. have wrought any modification of their hatred for a government founded up on the opinions of tho people expressed through the ballot box. It is the part of wisdom to anticipate evil, and to prepare to destroy it before it grows too formidable to overthrow. The attitude of the parties to the Presidential contest gives rise to a serious 'question— the most serious of any which can en gage the attention of the true patriot and good citizen. That question is briefly stated:—Shall we have lasting peace, through a vigorous prosecution of this war for national life, or interminable war. through a pcaco based upon disunion'' The issue is sharply defined. ,Thc ut terances of the Baltimore Convention de cisively declare for peace through effec tive war; the utterance* of the Chicago Convention as decisively pronounce for the alternative pieseiite I in the question stated. They mean tli.it, or they are without meaning. The opposition to Mr. Linco n contemplates disunion as a cure for tho ills under which we lie. 11 is de feat would divide the continent into fac tious States. Nor is this mere assertion. The political history of tho country for the last four years is <\ mass of overwhel ming evidence iu support of its entire, its disgraceful truth. And first, in evidence of its truth, we have the declaration, informal but not less weighty, (becausereiterated and unvary ing.) of the rebel chiefs, that the South will not treat for peace save upon the ba sis of a recognition of its independence. The press of the South omits no opportu nity to impress upon us and the world that peace cau only coma through recog uition. Recognition is but another name for separation. And finally, every Eur > pcan nation has come to regard the result of this war as certain to be one of two things—either subjugation or disunion. It is the clear conviction which truth brings to every rational, enlightened mind. It is, therefore, entitled to great weight, second only to the resultant fact. It is due to the opponents of Mr. Lin coln to state that they pretend to belivc iu the probability of peace aud Uuiou through some compromise, the terms ot which are not clearly stated. It will be easy to show the futility of such hopes, if it has not already been done. It will not bca difficult task to show that such a belief does not take root iu conviction. The leaders of the oppo sition are men of great ability aud more than ordiuary sagacity. They cannot, therefore, be ignorant of the facts which are of public record. Those facts effectu ally preclude the possibility of peace and Union through auy compromise, unless the terms involve recoguition; and that would be disuuion. But let us thorougly consider this ques tion of peace through compromise. It is reasonable to suppose that the chiefs of the rebellion would have accepted terms at the outset if at all. It is alleged by our opponents that Mr. Lincoln hurried the nation into war, not only without con stitutional warraut. but even against the wishes of the rebel chiefs themselves. They reproach the Congress then in ses sion with haviug refused to adopt the Critteudeu Compromise measure,aud thus forced the south into rebellion in exercise AMERICAN CITIZEN. of the right of self-defence and self-pre servation. It is unnecessary to pause to show that all this transpired while the reins of power were held by southern men, most of whom are now in arms against the government. Let that pass. The question hinges upon the responsibility of the rojeetion of the Crittenden Compro mise. It was rejected. By whom ? Reference to page 409, part first of the Conijre**ion<tl (Hohe of the second session of the Thirty-sixth Congress, will place the responsibility for the rejection of that Compromise where it properly belongs.— It will be seen that the Crittenden Com promise was defeated by the substitution (in effect) of what is known ns the "Clark Amendment." The record shows the vote on the motion to the substitute was—yeas 25 r nays 80. The vote on the adoption of the Chirk proposition, taken direetly afterward, was—yeas 25, nays 23. I'lie presumption would be naturally, that if the south had votes enough to reject the substitute, it would also have enough to roject the proposition when offered in dependently. There was a falling off in the negative vote on the proposition, as compared with that on the first motion to substitute, of nrriii votes. This is ac counted for by the fact that Senators Ben jamin and Slidoll, of Louisiana; Wigfall and 11cm phi 11, of Texas; Iverson, of (la., aud Johnson, of Arkansas— six Southern Senators—xn! in flit ir unit nam/ re/itsi'l to mlHad these six southern men voted no." the Clark proposition would have been defeated by a major tyof four votes, and the Crittenden < 'otnproniisecould have been taken up and carried by the same majority. It appears of record, then, that the Crittenden Compromise was rejected b.'cau-esix of the leading Senators from the south virtually refused to vote for it. A motion to reconsider was carried some weeks later, and a direct vote upon the Compromise was taken. The proposi tion was lost by a single vote. But oue of the six Senators referred to voted on that occasion nearly all of them having withdrawn on the st ressioil of their re spective States. Had tlioy remained to vote for the Compromise, it would have been adopted. The chief object in alluding to this mat ter is to show that when, before the overt act of war was committed, tho south had the election of compromise or war, she. through her highest dignitaries, deliber ately chose war. The south would not have compromise then. Is it reasonable to suppose that it would accept such an accommodation now? Her rulers have the southern mas ses by the throat, and can mould them to their imperious will. They arc playing for a great stake. They could not with draw from the contest now unless forced into withdrawal. Pride, love of power— both iuibrcd and fostered by the institu tions of slavery—would force them to elect, as they declare they do elect, exter mination rather than submission and un ion. Early in the struggle—before the gov ernment had taken the aggressive—Pres ident Lincoln offered peace in most liber al terms. The terms were, briefly, the laying down of arms and the abandon nieutof their hostile attitude. The world knows how those terms were met. It need not be repeated here. The desolation of southern fields; and the vacant scale in thousands upon thousands of homes, both north and south^.bear the record. Still later, amnesty and pardon have beeu of fered by the President; still the chiefs of rebelliou abate not a title of their energy to maintain themselves in their wrong.— They demand recognition and independ ence of a government they hate. Inti mate knowledge of the directing minds of the rebellion teaches that they will never abandon their wicked scheme until oblig ed to do so by the sheer force of such iron circumstances as control the results of There is no ground, then, for the hope ol peace through compromise; no hope of permanent peace. There is no such discharge in this war. These who go be fore the country upon such vicious pre texts, are not deceived themselves, how ever much they may deceive the ignorant and uususpecting. To chargeself decep tion upon them in a matter so unmistaka bly clear, would be equivalent to charg ing them with imbecility. They do not deceive themselves. The pretext of seek ing the Mr. Lincoln that peace may return to our bordvrs covers a sinister purpose. If they wish pcaeo they can have it but in two ways—iu a cowardly abiiudonuieut of the strugle, followed by disuuion, or by a more vigorous (if possi ble) prosecution of th« war. Thus the true issue upon which the campaign is to be made becomes sharply defined. Nune can deprecate the horrors ot war or desire the return of peace more than do the warmest supporters of the Na "Let us have Faith that Right makes Might; and in that Faith let us, to the end,dare to do our duty as we understand it"—A. LINCOLN. BUTLER, BUTLER COUNTY, PA., WEDNESDAY, SEPTEMBER 28, 1864. tional Union nominees. But they ask for and will acquiesce in no* peace that is not found upon the integrity of the Union and established upon the principles of the Declaration of Independence. They rec ognize greater evils than war, such as this is in which the nation is plunged. Di vide the nation geographically and to what end do we inevitably gravitate 112 With the precedent and justice of secession es tablished, who can presume to say that we shall not repeat the humiliating histo ry of Mcxicoand South American States ? I * nited, tliocommon danger was, and would continue to be. our common security.— Divided, the land would groan with the i wreaking out of individual vengeance.— Divided, the torch and brand would never be idle along the line of division. The country would at last awake to the bitter ; knowledge that open, vigorous war. prose ! euted with a high purpose, is a thousand times less to be .dreaded than an armed peace. As an example, si little a year •ince. when Leo, with his rcbcTminy, in vaded Pennsylvania, and when the fate ol the Republic was decided by the battle of Gettysburg, how prompt wicked and de signing men were to inaugurate the insur rection in New N ork city, trusting in the hope that the Government was not aide to maintain the supremacy of the Constitu tion and the laws. It will be long before the blackness of the crimes committed by that conspiracy will be obliterated. As another example, take the recent conspiracy discovered in the northwest— the banding together in secret of a large number of men, the concentration of thirty thousand stand of arms and a large supply of ammunition. The papers of this conspiracy, which were seized, evi dencing too clearly that their design was. and is, the overthrow of the Republic, trusting that divisitn and anarchy would shield them from harm, but in utter dis regard of the concomitant wrongs to the people—murder, robbery, arson—iu a word, desolation for the time. Now, fellow citizens, in both these ex amples the moving spirits are prominent men in the Opposition, and controlled the nomination and platform at Chicago. Yet it is to such a peace as this that our opponents invite you. They ask your suffrages for a man who either is pledged to such a peace, if elected, or who is de termined on a war grander in scale and bloodier in results than the world has yet witnessed. '1 here can be but two issues cut of the pre cnt difficulty. The intelli gent freemen of Pennsylvania need not to be led like children. They will not fail to comprehend the nature of these issues, and to choose between them. In so choosing they choose for their children and their children's children. Tlicy can do nothing of a public nature iu those pregnant times that shall not cause com ing generations either to revere or despise tlieni. The re-electian of Mr. Lincoln, and the election of Andrew Johnson as his associate, will indibate to the chiefs of the rebellion that the war for Union a ltd permanent peace must goon until those ends shall be attained. It will also signify to the nations of Europe that the people of the whole United States will, soon or late, become an united people and the government remain, as it lias hereto fore been, a star of hope to all the op pressed peoples of the civi iized world, and an everlasting monvmcnt to the wis dom of the grand ojd heroes who con ceived it. If we could basely afford to abandon the struggle now, the world, man kind, could not afford the sacrifice. If we could afford to bear the shauic. and wear the fhackles of defeat so cravcnly invited, our children cbuld not stand erect tinder the deathless reproach of our be haviour. As men, as freemen, as patri ots, we have no choice but to stand by the government as administered. The alter native presented by our opponents iu dis union and dishonor, which is national death. If a man recognizes the existence of the principle of Eternal Justice he could not despair of the republic. There may be some in whom the principle of hope maintains but a feeble existence, un less stimulated by uninterrupted Such must be encouraged and sustained by the; example of the more hopeful and enduring. They must beassured of what the philosophy of history and of events teaches, that danger lies in turning back, as security lies in pressing forward. The desolations, and bereavements, and bur dens of war may be, nay, are terrible, but the tempest which ravages forest aud field, destroying the increase of labor, and even human lite, is also terrible. Yet it isben eficient. With unvarying calm the at mosphere would degenerate into putridity, and the earth would resolve in endless night. So war involves nations in itsfcar ful vortex that social and political reno vation may follow. As a fire sweeping over the fields licks up the chaff aud stub- ble, yet affects not the solid earth, so the fiery trial which we arc called upon to en dure is cunsuining the notorious crimes of society. The nation will issue out of this struggle stronger and purer than before. Wrong, such as confronts us, cannot drive right into exile. Craft and villainly arc not to be the subjugators of wisdom and virtue. And whatever crimes may have been, or may yet be, perpetuated in the name of civilization, it is not now to be proved either a farce or a failure. Hut these calamities are not to come upon the American people, for the reason that the masses are to remain true and steadfast in this great effort to establish their liberties upon a surer foundation than the anomal ies upon which the have hitherto rested. '1 bo victory is to be won by unremit ting labor, and watchfulness that shall be proof against surprises planned by trait ors at home or abroad. We me to look for no fortuitous happenings, no miracu lous interpositions. The friends of the Government, working together, cunnothe overthrown by any combination possible among their opponents. They may seek to divide aud distract, as they have douc, and they may partially succeed. But not if the people remain firm, calm aud sell contained. United, we are invincib o against us. Divided, we should invite defeat, and attach to ourselves the name of having rejected the counsels of expe rience and enlightened reason. Our victorious armies are bravely doing their duty in the field. What is required of the loyal men of Pennsylvania is a great victory at the polls in October and November. It is not only essential that the Federal government and the policy required to crush rebellion should be in dorsed by the re-election of Abraham Lin coln ; but at the coming contost iti Octo ber it is important that in the Congressmen and members of the Legis lature, as many districts as possible should be carried by the loyal candidates now in and to put iu the field. We want the moral effect of overwhelming majorities as well as the prestige derived from mili tary power and force. We expect to close the war as much by the influence of the ballot as the bullet. We hope to stop the effusion of blood by the unmistakable de monstration at the polls that the war is to be waged till the rebellion is ended. And that hostilities will not cease while there is an armed traitor in the field Such a cessation of hostilities cannot be obtained by compromise or negotiation. It must be achieved by the stern influence of force —by the unmistakable, clear and well de fined proofs of the ability of the govern ment to cope with aud conquer oil or any of its foes. Men of Pennsylvania, the issues are now before you for consideration and de cision. You must abide the result as you establish it for good or evil. We ask yitu to support Abraham Lincoln, because we believe his re-election will fully vindicate the authority of the national government, and fully establish the fact that the free men of the loyal States are able to sustain the existence of the Union and the gov ernment against the hazard of opposition from abroad or at home. We ask you to assist not only in there-election of Abra ham Lincoln' but in the election of all loyal candidates for State and Federal offices, because their triumph will recog nize our nationality—a result which must contribute to the maintenance of the na tional government. It needs no argument of our own to establish this position, be cause our political opponents now antag onize us to achieve entirely the opposite result*. Can we hesitate—can there be any trust or confidence in men placed in nomination by such men ?. Men of family, hesitate —men of property,hesitate—young men, who hope to enjoy both these blessings, hesitate before you cast your votes for nominees made by such agencies. By order of the Union State Central Committee. SIMON CAMERON, President. A. W. BENEDICT, ) C . . . WEEN FORNEY, ) Secretaries. A GOOD OCCUPATION. —"Pete," a comi cal son of the Emerald Isle, who carried wood and water, built fires, etc., for the ■'boys" at Hamilton College, is as good a specimen of the-genus llibcrian as ever toddled in a brogan. One of thestudeuts having occasion to reprove hinf one mor ning for delinquency, asked him where he expected togo to when he died. "Expect togo to the hot place," said l'ete, without wincing. '• And what do you expebt will be your portion there?" asked the soph solemnly. "Oh," growled the old fellow, as he brushed his car lazily with his coat-tail, "bring wood and water for the boys." BQf" The Copperheads have startod a story that Grant is going to abandon Richmond. When he does he will aban don Mrs. Grant, too; not before. Disunion Avowed. One of the leading supporters of Gen. McClellanin the city of New YdHk, flic Somfni/ flfrtrury, makes a curious revela tion in regard to certain consultations which took place at Niagaia before the meeting of the Chicago Convention, be tween rebel politicians in Canada and cer tain of the Opposition leaders. If we luay believe the Mireury, which is pretty good authority, the success id' tlio oppo sition would bring about a very singular state of things upon this continent; they are said to have agreed with the represen tatives of Jeff. Davis upon a now "com promise," which would secure to the reb els, in a sort of left handed way, but just as certainly as by direct action, all that they have demanded—the destruction of the Union. The bargain thus made is one of those old fashioned compromises, by which tho J'rec and.loyal states get tlio two shells, and tho rebel planters secure to themselves the oyster that lies between them. Jeff. Davis cannot destroy the Union by war; but with tho help of tho corrupt tricky politicians of Chicago he hopes yet to achieve his purpose Jiy dip lomatic intrigues. The Mercury introduces its story with a paragraph of reflections upon thc "im posibility" of restoring the Union. "On ly a zany," it says, "would ever dream Of its being restored." These Chicago poli ticians seeui to forget that under Grant and Sherman and Parragut there arc sev eral hundred thousand such " zanies," who are offering up their lives for just this " drcuiu," and that these have left at home a goud many millions of relatives) and friend* who are dreaming thesame dream. Here is the Mrrrury'n article; we com mend it to Union men who think there is no danger in supporting the Chicago platform:— "TIIF. OLD UNION IMPOSKtBLK. "Talk as we may of the old Union, un der which the nation attainned such a de gree of prosperity, and advanced at once to the front rank among the nationalities of the world, its restoration is an impossi bility. 011/J/ A ZIIIII/ il'oultl rvtriireum of itsbiimj restored. There#, will, undoubt edly, be a reconstruction, but never a re storation of the Union. The question that are to be settled, the new condition of things consequent upon tlie disruption of the old,thechangcdrelationsof capital and labor, the increase of the quantity of power surrendered to the genqral govern ment by the people, the relation of the states to the federal Union, the influence in the conduct of national affairs, which is sure to be accorded to the military ele ment—all these considerations forbid the idea of our living under a Union such us that under which we lived and thrived from 177<'» to 1861. This statement may appal the thousands of good people who live in the past and dream of days that are no more. These days not only are, but can be no more. lie is wilfully or stu pidly blind who does not see the changed condition of public affairs in this country. W L may hurrah for the Union, but it is not the old Union j'or which we hurrah. The nation has entered upon an entirely new phase of its existence, whether we are willing or not to acknowledge it. " This grand fact was duly recognized by those who formed this conclave at Ni agara Fulls. The problem they set to work to solve was to reconstruct the Un ion on a plan satisfactory to all sections, and to convince the Democratic party of the necessity of adopting this plan or one of similar import. After long and earnest deliberation, in which Messrs. Clay, llol combc and Sanders participated, the fol lowing general conclusion was reached, and was tacitly agreed to by the National Democratic Convention at Chicago. "THE PLAN FOH RECONSTRUCTION. "It was, that what was once the United States bo divided into five separate confed eracies, r#6h independent of the other in the management of its local affairs, yet bound to each other in certain respects, of which I shall speak hereafter. These confederacies, as divided, were to consist of the following states : _ . " 1. The Cotton and South Atlantic states. " 2. The Trans-Mississippi states. "3. The states of the great Northwest. "4. The Middle states. " 5. The New England states. " In relation to the states comprised in this last division, there was no little de bate as to the propriety or expediency of admitting to the geueral Union at all.— Whether justly or not, it cannot be dis guised that they are no favorites with the majority of the people which comprised the old Union. The reasons for the hos tility of feeling which the rebelious states bear to them in too apparent to need spe cification. What are kuowu as'the loyal states have many reasons for disliking their New England associates." These "reasons" why the robe Is and the Chicago Convention dislike Now Eng land are recited. Wo omit them here, as they can be seen in most of the speech es of Vallandigham, Cox, Fernando Wood and other supporters of the Chicago nomi nee. The Mercury goes on : " Such, in brief, are some of the con siderations that influenced the delibera tions of tiiis conclave of politicians at Niagara I'aHs in leaving the question open whethef New England should be admit ted to the New Confederacy which they were planning. The merits or demerits of such a policy is not to the point. I am only narrating what wassaid and done, not what others may think ought to have been said and done. " Another important feature of this proposed confederation is a provision for admitting to it, in case circumstances war rant it, the Providences inßritish Ameri ca and what is now the empire of Mftxi co. But this is an event so far in the fu ture that it cannot claim more than a mere mention of its possibility. I there fore pass onto the conditions for (lie con struction of this Union of the future. CONDITIONS OF TIIK NEW UNION '■ Leaving to the separate confedera cies—l use tlic term in its generic sense —the right to maaago tlieir domestic af fairs as they may choose, they are to be hound to each other hy alliances offensito and defensive. Such questions as effect the interests of all are to ho considered hy a sort of general council, composed of rep resentatives from each confederacy, more nntialagous to our present cabinet or Sen ate than the House of Representatives. There are to be no restrictions of any kind upon inter confederate trade or travel.— In a word, it would be oue grand confed eration of' confederacies, bound to each other by bonds of commercial union, each independent of the other, yot having a share and an interest in tho control of af fairs affecting tho common welfare of all. " It will rcudily occur to tho minds of your readers thot this plan is nearly iden tical in its essential features with the well kuown Zollvcreiu of Customs Union of th 3 German States. "THE NEW CONFEDERACY ANII THE DE MOCRACY-.* " Thin project , I hardly need add, re ceieeil the cnilortement of the leai/er* of tlir Demm ratic party, anil hi/ than wan inhririirrn with tin action if the. Chica go Con Prut ion. ft in uniUmlood that //on. A Hi/tint Belmont teat the jxrtt to ile velop thi' jihin ; probably because of his intimate acquaintance with the govern ment of the German States. At first it was received with surprise ; hut the more it was discussed, the more favor it obtain ed, until at last it was decided to incorpo rate the idea with the proceedings of the Democratic Convention. More than that, undoubted evidence was received that Mr jihin is tijC'tnlil* hi thi. lii wsnj Jeff. Iht lig, though, for ob\iousreasons, he would refrain for the present from divulging it to the southern people. Anxious for peace, but opposed to the restoration of the old Union, the southern leaders to whom this project was broached at once assented to it, and are now desirous for the election of the Chicago candidate, in the hope that it may result in a reconstruction of the Un ion on a basis satisfactory and honorable alike to the North and the South. " Of courso, it wn.s uotdcemod prudent to make all this apparent in the debates of the Convention, still less in the platform it adopted ; hut you may rely upon it that the leaders were well informed of it, and arc pledged to carry it into execution in the ccent of the success of the Democratic party at the polla in November. Tiiue and circumstances will doubtless cause certain changes iu the minor details of the scheme, but they will not alter its im portant features." Now, probably thisstory will be denied by.the Opposition journals; it maybe pronounced a preposterous and wicked in vefitiou. We leave them to deal with the Sunday Mercury, which has always sup ported the nominee of the Chicago Con vention, and docs yet, we believe. But we remind our readers that this plan for breaking up the Union, amf forming sev eral separate confederacies, is not new.— It was proposed and urged by Mr. Val landighaui in Congress in 1871. On the 7th of February in that year he introdu ced in the House of Representatives a joint resolution proposing an amendment to the constitution, which was to destroy the Union, and divide into four sections or confederacies, one to include all the sea board free states and to be called " the North •" another to include all the states between the Alleghanies and frcky Mts. north of the Ohio, to be called "the West;" a third, to include the territory west of the Kocky Mountains, and to be called " the Pacific;" and a fourth, to include all the slave states and the adjoining ter ritories, to be called " the South." This was Mr. VaUaudiyham's plan more than NUMBER 41. three years ago. Ilia joint resolution evolved a project similar to the ouo now said to havo been agreed upon at Niagara; and the acceptance of this by the opposi tion leaders at Chicago is perhaps tho se cret of Mr. Vallandigham's ready gup* port of the Chicago nominee. \\ bile the people are pondering theso projects, lot them remember tho follow iug : " At a recent tneetingof the Democratio association in Washington, Dr. Allen de clared that he would make every proposi tion to the South to come back again, but if they failed he would not prosecute tho war against a people who had a right to declare what form of government they would live under. Amos Kendall, who was present, said 'that was just what our opponent would have us say —that wo were willing to divide the Union, if a com promise could not be bad. L< I us first i/rcl our men ; untie to J>H t ifoim this in iquitous (iilniinistriitum, 0111/ then tee can iln this or 'ln'/ other thing that mm/ bo practicable ' The Uoston ('nurier, in re in remarking upon the proceedings, said : ' Mr. Kendall gives the truo key-note to the democratic music.'" 1 hoy are ready to promise anything for the Union now ; and to doany tiling against it, if they gain the election.— New York I'list. Mr. Fesseuclon'a Policy.* It in now nettled that Mr. FeHsrndnn will run the Treasury on a three year 7 3- 10 Treasury Note, with interest semi-an nually, in currency. These notes the holders can fund into n six percent, gold bearing bond at thccud of three years. With gold at, say 200 as an average for the three years, what are the now out standing gold-bearing bonds worth, as compared with the uew 7 3-10 currency interest notes at par? The notes for the three years will yield 821.i>0 iu Currency for every 8100. The six per cent, gold bonds will yield for the same time 818 in gold, which at •-'OO is 830. Now, as the holdcy of a hundred dollar gold bond is to realize 814. 10, during the three years, more than the holder, of a 7 3-10 currency note, it follows that the Six es of 1881 arc worth 114, and more, as they have earned intcreston; and tho 10- 40s, urawing 815 gold interest during the three years (worth 830 in currency with gold at 200), are worth 108. If gold stands above 200, theso bonds are worth more than we have estimated thom at, but if gold falls below 200, then the bonds are worth as an investment, as compared with the new 7 3-10 notes, loss just in proportion to the decline in gold. With gold at 150, the 10-40s at par are a better investment, and the Sixes of 1881 are Ixsttcr at 105, than the new notes. Gold is now 150. Gold must fall, or the gold-bearing bonds must rise, under the effect of Mr. Fcsscndon's policy.— Thompson's Report er. Vfiy , The Climax.—A clergyman in Wisconsin, one Sunday.informed his bear ers that ho should divico his discourse in to three Parts—the first should be terri ble, the second horrible, and tho third should be terrible horrible. Assuming a dramatic tragic attitude, he exclaimed in a startling, agonizing tone: "What is that I see there ?" Still louder, "what is that I see there?'' Here a little old woman in black cried out, with a shrill treble tone : "It's nothing but my little black dog; he won't bite anybody." A correspondent in Sherman's ar my says: ''An Atlanta papor, of whe li)ti» of Ju ly, found in the pocket of a dead rebel officer, states that the men were dispirited and demoralized at their repeated defeats, and proposed to break up into guerrilla bands. Hood however, told them that their opponents were only a few' '-hun dred day men," and that they would have an easy victory. The result soon showed what a mistake they had made ; and one of them discovering it threw up his gun and was heard to say—"My God! it's those blue star men !" There is not money enough in Spanish treasury to pay the employ* the government whatwasdue them first of August last. Senor Ba' well known to Americans, writ a prolongation, of the present sta' Span ish financial affairs willendan both the institutions and dynastry of . ~ ' m , , Spurn. *ar The folks in St. I • „ . . jousa arc having a lively dance oi terror ; c anacondas, lately "im e , East, escaped from th- P orted ["T had been kept, and * tank in wluch they search, had. at last ' afk ' r a * 5 * ' captured. accounts, not been
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