New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-04-09
FROM PHILADELPHIA.


Certain circles here are ia iiat'er Of exo''e~sa'
touching the great California .sad claim TO the ste
on which San Francisco hss been built Toe im-
pending final juoc,ns ON this claim oy The sigaest
Federal COp-1t has intensihed this excfemeos 70
fever beat The Company boldiog toe claim IL Oh
yi.,ed into 500 shares, most of which are Id by
p,,ties here, some in sums as high near 100000
by single individual These shares were s'ld
originally a. SO 800 each, and previoosto 1857 we're
eaqerly sought after at that price They were
prime coateIals n those dave, good for al advance
of $4,000 per share, at which figure numbers of
them were hypothecated. The crash of 1857 csn-
verted tenders on Them into reluctant owners, who
still hold them. Since that conversion they have
been gradually sinking in price, until they now
command only about $500 per share This fall is
the more remarkable, as in the interval two decl-
sions have been had in California confirming the
claim The final argument has just been made at
Washington, and now all parties here are on the
qu riue for the granl result which will make or
break some Of them. The claim exceeds lO,OOO
acres in extent, embraces nearly the whole SIT: OF
San Francisco stretches to the Pacific on the west,
the BAY of San Francisco on the east and some
six miles south, taking in vast number OF what
are now improved farms besides thousands OF costly
stores dwellings, wharyes, and Other improvements
constituting the city. The assessed value OF the
| land is $4,000 COZ. All these numerous owners
will be Ousted or compelled to buy their property
second time if the Land Association gain their
cause Such decision will make tbs latter enor-
mously rich while it will probably ruin thousands
in California If it 90 the other way, the shares
will be worthless and with the bursting of the great
bubble there wild undoubtedly be busting of another
kind No wonder then that with such an issue at
stake and on the point of being decided there should
be a futer here where large an interest Is held.
Without doubt the suspense is equally painful IN
California But our Philadelphia holders are un-
| shaken in their confidence of gaining the cause al
| leeing that nothing has yet transPfed TO weaken
the evidence which, up to this time, has been good
| enough for them
| So far as regards the vote of Pennsylvania for
| President you may set it down sure ching that
no candidate can receive IL who IS Lot an 0pen Hat
| footed advocate of Protection The coal and iron
| interests have resolved on this as Indispensable
| They remember Mr.. Dallass shameless pledge,
made TO q large assembsge the steps of his own
house in Walnut street. that Mr.. Polk W as as good
| tariff man as Mr.. Clay, aid that he knew IL.
was in that crowd and heard the declaration for
myself They remember, too, that when this same
Dallas came to decide the nicely adjusted equlpolse
by bis casting vote Vice President, he belied al
this fine profession by voting with the South to the
striking down of these plepOnderating interests OF
his native tate If bis vote killed them, it killed
him with them. Politically he has been dead man
ever since and Pennsylvania intends that he shall
stay dead Now this enOrmity, though 1t may be
forgotten elsewhere, is remembered here. these
great interests with many collateral Ones require
as much profession now as they did then. There I
is a resOute determination to make them an issue,
and woe be 10 us in Pennsylvania If there be any
thing short of absolute assurance on thus question.
We want no sudden conversion to this dogma of enc |
whose record relation t. IL has been marked by
lukewarm uncertainty. New-Jersey sympathizes |
=. MIA ,ltp
pivot on which the great issue reyoyes. No Presi-
dent has ever been elected unless aided by Pennsyl
vania. Recent events admOniso those VINO hold our
nominee in their hands tbat extreme prudence is yet
necessary TO success.
There was some betting here on the Con- |
necicut election but less ON the Rhode Island as |
he latter expected TO result as 1T did. Repab-
leans do not regard It defeat, but the inevltd-
bic termination of q mixed up fight IN which the |
Democracy were TOO weak TO 90 III under their
flag. They have really elected an OLD Wing. But the
lesson taught US by Connecticut is an Impressive
one, giving warning that extreme prudence in the
future must be the watchwOrd. On this subject we
ubscrbe heartily to the teachings OF The TRIBUNE.
is useless to advance particular names, YOU have
wen liberal ventilation TO the views OF the friends Of
al The candidates 1t is not only natural but proper,
hat before the Convention meets, each state shOdld
urge its own favOrite 1t may with prOpriety be
continued in the Convention itself. But 1t must be
done there without xasperating antagonlsm or
mpetuOus urgency, yieldlOg personal or geographic
cal preferences for the accomplishment of an Ovec-
shadowing result, 50 that when the solemn decision
has been reached, all murmurs shall be hlshed, TO
be succeeded by exultant chorus of political har-
mOny. Our confidence III the decision at Chicago
is continually growing stronger. We feel and know
that that body can secure Pennsylvania If Its ac-
ton be as wise and prudent as the signs Of the
times are clear and definite.
The new Free Banking law produces no partcu.
lar remark in this city. We have more banks al
ready than are needed. The new ones have much
of their capital yet unpaid, there being no heahul
demand for money in tbe present national stag cation
of business Some of these institutions are now
forced into taking eight and nine months paper, 10
order to employ their means. But III the interior
towns the new law will lead to the organization Of
numerous banks; and if business ever should revive
the number will be very large. The old banks will
die out their charters expire and system will
ultimately resemble yours
1t would seem that there is no unmixed evil
When Mayor Henry awed the rnffians VINO sought,
some months ago. to choke of free spec oh in our
midst be was denounced by the doughfaces as the
embodiment Of all evil designs, Bat they little
thought how soon the energy that thus enforced the
law against them would be required to carry out
another in their defense. When the mob attempted,
The other day, to rescue the trembling fugitive Hor
Der, the deed would have been done but for the
Mayors admirably drilled police Coming just be-
lore election, they now see that IN the administration
Of justice he is cOnsceniOusy impartial: and it will
DriAg him maDy votes which had been half alienated
by the free-speech difficulty.
The slaugbtering of silk goods at the New-York .
auctions is making the article so cheap and plenty
lere that cur leminines crOwding tine retailers ,
counters more anXiOusly thaa ever 70 buy not what
hey want or need, but SIMPLY because these trap v
,iDgs are cheap. Looking IN at these crowded ba- 4
aaIs, one is struck with the large proportion of
eryant girls who spending their money for silks.
ndead The cousumntiOD of these luxuries among q