The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-11-28
ENGLAND.


George Penbody,s FuneraI-The War ship
Observation-Disclosures for the Reception OF the
Rcn,nins-1icccption, Salute, Procession and
Escort.
From the Cork Constitution Nov. 1871
Mr. Peaoodys remains VIII arrive at Portsmouth
early on Friday morning, the z6Ch insL where they
vii be received with due funeral nonors aud De Tor
warded TO the d0ckyard direct whence they VIII be
taken board the Monarch. seven guns, arnor-clad
turretsnip, captain john Il. Commere 1, O. b., v. c.
establishment
inc stern cabin OF the Monarch win meanwhile
have been properly prepared Tor the reception Ut the
CONN. The CABIN Is Of an empirical form, twenty
four feet wide at It's greatest width twenty
S,s iss scr 0ng gos s0oSf witch Gn s
seven inch six and hall ton gun would be used for
drlng. VIII oe stopped up; tine gun itsel which ordl
be moved more anldships, aud the 6ulKhead through
which It's mulze projects whi be closed In. 1he
cabin, is understood, VIII be lifted BY the dock.
the body, on its arrival at the Lanoport Railwsy
station, WILL be saluted win minute guns from the
garrison and from the ships In harD0r, the firing OF
which will be continued during the progress OF The
c0rtege 10 the dockyard.
friends, tue Minister, the Consulate and the Vice
C0nsulates Of the United states from many ports;
the naval and military port ami district c0mman-
derS-ln-chiek and other officers OF the army and
navy; the principal officers or the several royal
establisnmeDts In the nei1nbornood ana the corpo-
rate body OF the borough OF Portsmouth. The
Monarch having received the remains wlll on tine
afternoon Of the Goth, steam slowly out to spithead
under salules OF minute guns. and wl there anchor
Boston, United Sta'es
1t Is expected that at least four ships Of the Ame-
rtcan navy VIII have arrived ut Spthead before the
day on which the Monarch will weigh anchor; and
OF these tue America Ticonderuga and the Sabine
are spoken Of as being certain 70 be among the
voy. Currency II given 10 report also that French
man-ofwar or two viii accompany the Monarch;
ana u II believed that number OF yachts viii
assemble 1t the anchorage and proceed with the
0Otll8 TO certain distance.
United States Finance and Bonds In Europe.
Prom the London Times (clty arliceD. Nov. III
According to recent STATISTICS the UnlLed states
etin continue by the remittance OF bonds pay
An excess Of importatlons from Europe OF tue rate
q many millions sterling per annum. The principal
financial writer's or New YORK and Philadelphia
from time TO Time urge their readers to CONSIDER now
long this Is to 70 ON.
question Is tQudav monentOus. trdnsierence
Of several millions sterling OF bonds from American
90 european holders amounts simply to the
fact that for every future year the United states
government must remit to Europe proper
ticnatc sum In the shape OF interest, which, II the
bonds had noI been SOLD, would have been payable
10 parties at home. Hence although the national
debt may be stationary as regards It's nominal
amount Or may even W., ns steadily reduced iss
the country must rapidly increasc. Such increase
however, will OF course not be ie 30 long AZ the sale
OF bonds continues W be Kept up in more than pro-
p0rtonate degree But II does not follow that
sale Ofnatlona obligations to foreigners, and the con-
ocQuent croatOn O1 Nh annual lfaDllty 10 remit an
amount OF interest to them muar necessarily be
. OBSERVATION-DISCLOSURES. The bonds sent to Europe are
sold, not Riven TO the takers and the point IS, 90
the Americans get commodity in return that may
be equal IN annual productive power 10 the amount
Of interest they have agreed TO pay In consideration
tor III II such he the case there is no injury to
either party. supposlng they elected to receive
gold, aud were to lock 1t up, there would then be
dead annual loss OF the Interest they were paying;
or Bupp0slnV that instead they to eve con-
sgaments Of silks, wines or other perIshable or
aumable articles OF luxury, they Would then be
worse on, since they would have through al time
tue dead weight Of anpuai interest in place
Of having gold or It's equivalent In store, By part
Ing with which they might at any given period ex
tlngusn the liability. ON the other hand, II tho
money received from Europe for the bonds were
expended in improvements In land, In the con-
structiOn or profitable railways or other public
WORKS, or In the Importation OF labor, tie results
from augmented production might not merely CON-
pcnsate for tue payments 10 De made. but Yield o
constantly increasing surplus. IL IL for those who
ore interested, clther as investors or otherwise to
form their own opinion As to the degree In which
these several modes prevail. At the Same time 1t IL
always necessary 10 recolIect that people who are
liable for debt are apt to complain OF Its burden
while they entirely forget the benefits Il may have
brought ~ them and that an annual heavy pay.
ment 10 foreigners has much more dangerous ele-
ment Of unpopuarlty tnan would exist IN the case
OF liability nela exclusively ~ home.