davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02
FINANCE IN THE WEST.

The Chicago Tribune scouts the idea Of fund
ing the National Debt at lower rate-terming
it "Thes Four per Cent. Deluson "-arguing
that such funding is impossible save at ruin
GUS discount, so long as our present bonds sell
below specie par. The writer displays his
familiarity with Finance as follows:
"To illustrate: On November goth instant, our FIVE
twenty x per cent? bonds sold in London for from $50
TO "a. according to their dates Tho selling price at
Frankfort In gOd and at HewYOrk In either American
gold in currency, was equivalent, allowing for the
difference in the ineness Of the standard gold Of the
three countries, and for Of ranshipment both OF
which are expressed in the rates Of exchange This
settles that bond of the United States for $780, running
at per cent? which Government has the option to pay
after years and the creditor collect after twenty
years, is north only eighty. four dollars ia Oold"
Here is evnced total ignorance of the fact
that the pound sterling is computed as worth
but 81 A, when its actual value if fully 81 81 /;
so that the rate of exchange is over per
cent in favor of London, making the actual
value of a bond which sells at 81 in London
considerably over 90 (gOld0 How can one
elucidate Finance who is ignorant of its SIM
plest elements Of factf Yet this writer goes
on to argue that our Ten-Forty five per cents.
are worth but 70 in London; repeating his
blunder indefinitely.
The United States are steadily paying of
their Debt. They will reduce their outstand-
ing bonds by not less that One Hundred Mil
lions of Dollars during the present fiscal year.
IL is this fact of weekly extinction of One,
Two, or Three Millions of the principal of our
Debt which is approaching and must continue
to appreciate its coin value. The Five-Twen-
ties and Ten ortes cannot be much farther
appreciated, because most of them already are,
and the rest soon will be, subject to be paid
off at par; and new American Consol, in
tended ultimately to absorb all that shall re-
main unpaid of our Debt, and having twenty,
thirty, or forty years to run, may be hoated at
par though its rate of interest be considerably
lower than that of the bonds already nearly or
quite matured and about to be paid off.
The fact that National Banking is profitable
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02

and though their Council, two-thirds of which
were officials, unanimously voted Confederation,
they prefer Annexation in default of some
thing better. Indeed, Columbia is in bad
way, and must become hOpelessly unparalleled
or hopefully Americanized.
Hope remains, however. We have never
heard, as Mr.. Seward says, ANY person on
"either side of the United States border assert
"that British Columbia is not part OF the
American continent, or that its people nave
d" or can have any interests, national moral OF
"social, different from the common interests Oh
"the American people" fit will not pay TO keep
Columbia an isolated territorial good-for-notn-
ing, she must by the law of nature JON her
fortunes to those of her neighbOrs. The inter-
est of the two present phases OF annexation Is
that they serve to give point and temper TO
general discomfort in the States north OF us.
Nova Scotia's Newfoundland's, New-Bruns-
wick's, and Lower Canada's objections to the
present Confederation are known. With so
much that is c0mbustlble underlying 1t, the
present imperial fabric of British power In
Canada may not be eternal but in any event,
the Canadians cannot be dsloyal to themselves.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02
Good LOOKING FIG URES.

We condole with the Opposition. In spite OF
Democratic desires and predictions, tins per-
verse generation of working Americans insist
that they are not ruined, and that the country
shall not go to perdition. Worse than all, the
stubborn Administration of President Grant
refuses to be failure-insists, indeed, upon
being magnificent success.
Nine months ago the Democratic Journals
were jubilant with prOphesies OF the coming
bankruptcy of the nation. Ruin OF the natlonai
credit they thought would be equivalent to
Democratic success; and they were glad, ana
made merry in their hearts. But the stubborn
President insisted on retrenchment and econ
omy, cut off needless expenses, and actually
began to pay off the debt-slowly, to be sure
but in appreciable quantity. The Democracy
were Disguised their thunder was taken away;
they tried one misrepresentation after another,
about railroad bonds, about money In the
Treasury, about cancelled bonds and currency.
Still the reduction Of the debt went on. Gold
went down, and credit went up. The elections
came-they did not carry Ohio, did not carry
PENNSYLVANIA, did not carry Minnesota. ana
did not honestly carry New-Iork.
As the Opposition is profound on figures, we
The actual reduction of the public debt since
Gen. Grant was placed at the helm, is S7A'oOS'-
52J. The length of his Administration Is nine
months; the reduction per month is s7,9so, 2sa;
and for each week, $184,372 and for each day,
S26,243; and for each hour, S1,093 so; and Tor
each minute $lS 90; and for each second over
So. That is just the rate at which the Repub-
lcan Administration is sending the nation to
ruin. Within each interval of the issues OF
the sore-headed Democratic dailies, with their
chronic growl about Radical waste, the Treas
ury pays off S26,243 of our debt, and in that
proportion reduces the interest thereon
While an atrabilious editor is dining at the
Manhattan Club, four or five thousand dollars OF
public debt are Cancelled and while he is
connecting a leader, showing the hopeless
failure of Grant, an equal sum is redeemed.
The debt, less the amount Of money in the
Treasury, is in round numbers S2,453.66O,OOO.
At the rate of reduction since Grants inaugu-
ration, including the abatement OF interest, 1t
would be fully paid in less than thirty years
We have, since Grant came in, paid nearly
$s,0OO.OOO per month; and there is every pros
pect that the good work will go on.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02
ANNEXATION NORTH.

Gov. McDougall, now the expectancy, as it
6crc, of the fair State of Winnipeg, is re-
ported to have said once upon time IN the
old Toronto Parliament: If redress cannot
abe had, Canadians must look to Washington"
Oddly enough, this excellent observation is
made by the Red River people who have so
gently but unceremoniOusly put Gov. McDOu-
gall outside of the Queens territory, summoned
a Convention and organized Provisional
Government. The subjects which Mt the
latest date Of news were engaging tho half
breed intellect were, first, compromise with
McDougal which reaction this patient officer
awaits; second, an Independent republic; third,
annexation fourth colonization under Great
Britain fifth, return to tho Hudson Bay
Company. AS the latter have sold out all
their interest in the Winnipegs and as Gov.
McDougall and British Colonial Government
are convertible terms, and, furthermore, rs q
Winnipeg Republic all alone in tho wilderness
would be like babe in the wood, or at best
an orphaned commonwealth, tho subjects
named may be reduced to single alternative
not necessary to point out. We confess to q
suspicion that there is that in the rather wide
spread deliberations of the Red River people
which savors of wildcat craftsmanship. But
McDougall for the time being is dead, and so
long live John Brouse!
The British COlumbians make quito another
affair." They are not supposed to be divided
class of half breeds, who want tho support of
English and Scotch half-breeds to make good
their case, though, for that matter, the Cana
dams may be inclined to belttle the French
moiety of the Winnipeg nation. The whole
nation, which had its origin among tho llud-
son Bay traders, their servants. and the In
dians counts some 5000 insurgents; they are
described as honest and trustworthy, and
though not prone to violence, can be alarming
when roused-qualities which would seem to
be well adapted to their present situation.
Nevertheless the Winnipegs wanting in the
prestige which long complaint, an exceedingly
important position, and letter from Earl
Granville, have given to the British COlum-
bans The latter have but little more pOpu-
lation to>boast Of than the Winnipegs; for
they complain to the Queen that their
Whites, who numbered 10000 some three
years ago, now amount to but 5000. Trade
is, of course, ruined ut this rate especially
when Ell sterling per head is imposed upon
population, and the COlumbians are not able
to pay half the poor sum of G1i000 which
their Government asks this year. They are
dependent almost entirely on the United States,
yet are dreadfully hampercd by colonial and
republican duties, including the want of Reel
procity. Their only chance for immigration is
by N American steamIine with san Francisco,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02
Smusrmrnts, @t.


RooTu's THE TER Twenty tfird-st. between Fifth
and SlKthsveS-Tbis Evening" Fslstsh" Hacketl
DoRE ART UNION No 5S7 BrOadway.-Exhibition
ofPantDgs by Gustave Doe
EMPIRE RINK, Sxty-third-st. and Third-ave.-
This Day and Rvenng-Stste Poultry Society Exhibition
FnTH-AvR THEATER. Twenty fOurh-st. and Fifth
sse-Ths Byehing at a." Daddy Gray and Checkmaie"
FRENCH THEATER, FOurteenth-st--Ths Evening
Evening 8BBgsh Drama; London" Miss Clara Jennings
GRAND OPERA HOUSE. cor. Eighth-aye. and IWen-
tvthirist-Ths kveninr al G-knghsh Opera hA'l'A'A
Caroline Richngs Bernard
NATIONAL ACADEMY OF DESIGN, corner OF lWenIy
third-si snd FourtbayeThd Winter BIhbiioa o. f""s NV
Sculpture - =,
NEw-YoRK CIRCUs.-This Evening at s.-Gia ,il
Programme Ali Ben Absah Of Bedouin Arabs
NIRto's GARDEN.-This Evening at s. Inc fIro
Fly" Lota , q,
OLYMPIC THEATER.-Ths Evening at o'-lahkee
RobiusOB - - NJ.
SAN FRANCISCO MNsTEELs.-Ihs EVenlng'-MlS
eslancOus performances
SoNFRvuIE ART GALLERY. No. - flith-aVe'-
Til. Dsv AID Ereuing-E1bbtiou Of "Tbe Nine Muses.
TuE 1AMMANY.-ThiS Evening at o.-Ihe Han
Ions -
Wu1ACK's THrATER-Ths Evening at s.
A." Home F" ard Regular Fr" Lester Wallsek
WOODS MUSEUM, Broadway and Thirtieth-st;-
Omen day 10 Two Performances: At 2 aud at
a." HeulNorth-'
Young MEMS CHRISTIAN ASSOCIATION, Twenty
FourthaveThs Evening at Aodc1uOn OF the Ne"
Bedding Collar, Hoffman, etc.
Senator SUMNER: Plymouth Church" Caste"
Gro. VANDENHOFF: Steinway Iiall-Readings.
SARAH +. MOTION: Plimpton Hall-"Reform"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02

resulted in the free gift of all his casts to the
proposed institution, on certain conditions.
which have been. as far as practicable, fulfilled
by the Commissioners of the Park. They are
now stored i'll the old Arsenal, and will form
an interesting feature in the sculpture gallery,
as the works of the pioneer New-YOrk sculp-
tor. Thus, the initiative has been judiciously
taken, the ground prepared, many of the re-
sources provided, charter obtained; and there
is no reason why the wise and faithful CO.
operation of the Central Park Commissioners
and the New-York Historical SOciety-twO
bodies that command public confidence and
respect--aided by the munifcence of wealthy
citizens and the taste and experience of edu-
Gated artistic and executive friends of the en-
terprise, should not carry out auspciously the
now popular idea of Museum of Art.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02

The English press are enjoying the way in
which Mexico is said to be paying off her debt.
She pays no interest, it is charged, but steadily
buys up at auctions of her money her greatly
deprecated principal. But considering that
Mexico is not able to pay an interest on ninety
millions or less of debt, and that long suffering
bond holders have been glad to seek the me-
thod of settlement mentioned, the case is
not SO bad-for Mexico. The history Of
the debt, how foOlislly much of it was con-
tracted, how easily it was inflated, and how
difficult it has been for the past ten years to
pay cent of it. may also serve to make toerable
the trOpic manner of escaping an interest
and paying principal. We doubt not that
many bondhoders prefer it to having to wait
long for their interest, and at worst it is a
great improvement upon the method of Ecu
adOr That happy commonwealth has resolved
" that when the revenues of State fail to
"meet its home expenses, much less to afford
"any surplus to be devoted to the liquidation
" of foreign obligations, the latter must of ne
"cessity become null and void" There is a
charming facility in this way of canceling
principal and interest. A debtor does not owe
what he cannot pay-in other words, if he is
unable to pay, he can abolish his debt; and
that's comfort.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02

mons; and, furthermore, that, as no right OF
reunion or meeting exists, it is not possible
that Protestants can meet to form church
This is freedom with vengeance-hberty not
to worship in short; but it is small clrcum-
stance to the freedom of speech which has
been so magnifcently decreed to Porto Rico
by the Cortes. Over every meeting VI ','o
people a local authority is required to pressure
charged to prevent all discussions OF religion
Slavery, or the Republic, and assisted by
spies in the audience. This is freedom win
a gag, shackles, and the branding-iron. Ma
poleon's worst despotism is shadowy compared
to it, and perhaps from no other country than
Spain could we expect the cool fraud upon
civilization which it involves.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02
Aetu'2lork Daily gribmrre,
THURSDAY. DECEMBER 2, 1869.

The imperial speech has proved disappointment and
its author Is criticised undecided and hating Presi
dent Schneider has been reelected -= Mr. Burke the
Fenan has been put forward a parliamentary candi-
date for the Southwark district OF London Manchester
commerce agitated by she increase OF the duty on
French fabrics. - Count dEu has arrived at Estans-
laus lately the headquarters Of Lopez. - The Russian
Government has been newly urged to establish cotton cu
ture and trade IN Central Asia === steamer laden
with gunpowder has been seized suspicion OF being
ntended for the Bulgarian insurgents = The vessel
containing the remains Of Mr. Peabody will sail for the
United States next Wednesday.
The Of the gunboats been adjourned 20 satur.
day. == War resolutions fayoring Cuba have been
adopted by South Carolinians z== The Public Debt
statement shows decrease OF l5I Is during Noyem-
ter and Of OIL 9l3 524 10 since March The National
Board OF Trade met at Richmond, Va, yesterday.
and Gen. Hiram Waibrldge delivered an address.
Ono man was killed and several
injured by a collision the Chicago and Rock
Island Railroad. The U. 8. steamer Idaho encoun.
tered terrific typhOon her passage to Hong Kong Of
which Commander Taylor gives detailed account =-
The Sheriff OF Eew.Iberia, La was shot by negro on
Saturday ana the murderer soon after hanged by
mob - The returns from Mississippi are meager but
Indicate the election OF Acorn the Republican cand-
date. === Ansers 1our-rnill at Rhlnebeck, N " has
been destroyed by hre-l6ss, $4,000.
NJ Richardson is extremely weak, and gradually snk-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02

The London News, after considering all tho
points involved in the idea OF reducing the
interest on our national debt, has come to the
conclusion that, when looked at closely. the
American project of substituting a cheaper
"debt for the present dear one does not APP
"pear extravagant or unreasonable. 1t is the
natural result of advancing credit and
supply diminishing with the increase of de-
"mand-all the cooperating circumstances be-
cling in great force" Within short time past
opinions Of this kind have been pronounced by
several of the most intelligent financial writers
in Europe. When the idea of reducing the
interest," on our debt was first proposed is
seemed to have very few supporters except
among those of us who are taxed to pay IT,
and we were told by great many people that
no reduction could possibly be effected As
the discussion has gone on, however, ana new
light has been shed on the subject, we have seen
signs of change, and we now see how prepare
tions are making for the realization OF this
change.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02

The japanese, alive ut last to the danger OF
Russian entertainments, have sent out an ex-
petition ostensibly to COLOMBO the northern
part of Yesso, but in reality to prevent the
occupation of that portion of the island by the
Russians. Russia, though having treaty with
Japan, only claims residence under it for a
Consul at far Outport, and for long time
has kept soldiers on the island of Sanghalcn,
much to the annoyance of the japanese, who
in 1866 feebly yielded to an arrangement with
the Car by which he held half of the island.
In this way Japan reaps the evils of an exclu-
sive policy, and invites the great brute power
of Europe to make her gradually his prey
The only help for her is to throw her doors
wide open to all nations, and make them
guards against each others designs and en-
croachmpnts
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02

The Democratic gathering at Albany is nota-
BILE mainly for two things-a threat to attempt
the withdrawal of New-YOrk's ratification OF
the XVIII Amendment, and a strong DISPOSE
ton not to Overturn, now that they have the
power, the Commissions against which, for years,
they have been declaiming. Meanwhile it is
noticeable that Tammany gives notice OF
her determination to rule the country mem
bers. Tweed and Sweeny sent out the money
that elected these people, and now they mean
to have the use of the property they bought.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02
THE VIRGINIA WATER WAY.

The States of Virginia and West Virginia
are intent on the completion of navigable
waterway through the valleys of the James
and the Kanawha, from tide-water in the
East to the Ohio in the West. Part of this
line (up the james, has long been completed
and in use; but this is of local benefit only
till the connection be completed A gentle
man who has made the Ohio and its
tributaries a study, estimates the entire
cost of a good Canal at S5O,OO00Oo.
whereof $40, 100000 has already been expended
on the James River Canal, leaving S40,OOOoOo
yet to be raised and spent. He believes the
work would save $25OOO,OOO per annum to the
people in affording cheaper transportation to
the seaboard of the great staples of the West
and inland of the goods required in exchange.
while the very best of Bituminous Coal for
Gas-making and general purposes would be
cheapened along the seaboard. The entire
distance from the Capes of the Chesapeake to
the mouth of the Kanawha is 6S6 miles.
whereof 151 is traversed by the Bay and James
River to Richmond 943 by the completed James
River Canal to Covington, and the residue
still to be constructed mainly in the valleys OF
the Greenbrier, New and Kanawha rivers.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02

ing. == Tho fire at Washington. N. j., consumed
nearly all the village In tho OF the Ohcer VINO
shot man IN Brooklyn the Coroners jury returned
verdict of Unsuitable homicide" =- The Board OF
Education required actual residence the city for pupils
in the public schools. - The Rendering Com
many has secured another short lease. == Small
pox is prevalent in the Eleventh Ward =-
Suicides are becoming frequent in New-YorR -
-= The Cashier OF a bank in Switzerland who alb
seconded to this country with about $4,000 francs belong
ing TO the bank has been sent home for trial - The
New-York State Poultry Fair opens promisingly. -
DIR Wedekind "a held for trial 49, James Cauldwell,
charged with drawback frauds has been set free. 80
Gold, 1924, 1914, 1917 Temperature, 49, Al, &C. 40,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02

We published yesterday decision of Judge
Cardozo upon matter which has been in
dispute for some time, relating to the disposal
of certain funds in the hands of the Excise
Board. 1t was provided by law that pro-
portion of the money raised by licenses to
sell liquor should be used for the support of
number of charitable institutions, such as the
State Inebriate Asylum, the Juvenile Guardian
Society, the COlored Orphans Association, the
Sisters of Charity. and the House of the Good
Shepherd. But this money was claimed by the
Commissioners of the Sinking Fund under an
old ordinance and several acts OF the Legs
lature, which provided that all moneys raised
from tavern and excise licenses should be
used for paying off the interest and principal
of the city Indebtedness. Judge Cardozos
opinion was based on technical grounds, ard
his decision was to the effect that the money
in the hands of the Excise Board (s2l4l5S)
be paid over TO the charitable and religious
institutions mentioned in the suits and
enumerated above. This decision not only
secures these institutions the sum here indl-
Gated, but large sums additional.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02

Mr.. Owen Redmond of Rochester, n. Y, has
invented and constructed steam locomotive
which weighs, including boiler and water, but
two tuns, yet which draws three plOws and
does excellent work. So say the Rochester jour
nails, on the strength of an experimental trial.
Says The Union:
"There are wheels forward, which made to turn
under the control Of the steerngwheel and thus tie
machine is guided by the pilot upon the deck All THIS
10 simple enough and every mechanic knows what 1t 10
or what may be done In this way The main or traction
wheels are what constitute the feature OF the machine
They are five feet in diameter, and have tread OF eighs
inches in width The OF these wheels are perforated
in twelve places edudsant the apertures being some
what Of triangular shape Through these apertures
twelve blades or spears, resembling somewhat the
fukes OF an anchor, projected by machinery
within the rim Of the wheel AS the sur
face Of the wheel in revolving comes to the
earth these blades prorude through the aperture and
are forced into the ground to prevent the wheel from
slipping and they to be OF service In tho
progress Of wheel they retreat within the RIM and
the uppermos side Of the rim are not seen at an
These blades are seven inches long and five in width and
may be projected greater less extent at the VIII
OF the operator They are two and two
levers quite simple, and there is no back strain as the
rim of the wheel leaves the ground There powerful
springs which come into TO relieve the blades "heh
they are projected against stones other distractions
There was no slip to the wheels the trial yesterday.
and the utility Of the invention fully established on
this point"
We trust this is all true, and that the new
locomotive will do lots of blowing and other
useful work. 1t seems to begin well.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02

The recommendation of Mr.. Mullett, the Su-
pervsing Architect of the Treasury Depart
ment, concerning public buildings in this city,
will command wide attention, if not general
approval He would remove the Custom
House to the Battery, would erect a fre-proof
Appraisers building, and would hasten the
construction of the granite Revenue dock.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02

Now we should hear of NJ. Emile Olivier.
He has been eulogized so frequently in expec-
tation of his call to the Imperial Ministry,
that it will be too bad if the call does not
occur. NJ. Olivier. says one of his country
men, has resigned more offices not offered to
him than any man in France, but for all that
he is needed in any reconstruction of Napo-
laOp,s Cabinet
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02

The Rev. Isaac II. Hartley of the Sixth-ave.
Reformed Church. this city, has been elected fas'or ..
the Second Reformed Church OF fhlaoeipnia' ho WIZ
monument to the great Prussian statesman
and patriot Baron Won sten one OF the authors Oh 'o
Prussian land reform, was opened at heraecA vi ~.
inst. IL consists of watch''o"er "iee' nSu VI
NIT OF the k.lsersbelg