davidaulloa/AmericanStories huggingface dataset:
, 1870-05-26
American Ika11road SpccuIations
Abroad.

! ,Our foreirn mails furnish detailed accounts
Of he statements on which The recent tele-
grams referring to American railroad bonds in
foreign markets we're based, Tho Lonion
| Times of Die 9tb, in its money article. ssid
..WThe Frankfort advices STATE that 1t the
| Her1in Hnnrae an the ri inst. The fo1iovin-.
coYnmunication ~ from fhn Aldermen of tb9
Merchants (analoeous 10 an Engliah Chamber
~ Commenca9 "a 2 noetai m
6aynx cos 70 peare ony tn5wedue that vet
larger expiorat1on Of our markets Is Contemplated
Ia America and England BY the sale. Of unsound
the detrtment 81 nc pnnllo, " ale thereby q
@ 70 a ON rg gdaid
Of AmeIican ta,taaT mo4traaa Sonaa @ # tnsY az
not guaIanteeI b. lie GoveT1ment of The United
States. Notice his Leen given Ut the same time to
brokers that they Should abstain from dealing In
sgsn bonds, and that no quotation Will be allowed
nencHtea !. r q aso t4,. +,,., ~.
it.Nt ots tepotsso nat tae % commun3eauon l @ Inus
+rae +aEi1su Taa ~ :. Sae toa tns. Ao1a 1el- a
19 man Soasnl Al Ne# 1o5k.. measure OF tne
,1a1a hanI a1u GeGn eaESessa 1ps. some ume, nne
MgG1a Riouapsy ELL aave oeen aeta5po ~ tne
, 1870-05-26

fvTy r ~ a n Cf n
~ g.. sao.;a1r - cano~a1 ca-sa1a,,
@ 7s He~o " - 49, - - -
: uuulug pM' INV pe.g.e n. .ns noo u Tgu1 49,
~ osneuci, ano ousA1 ~ ,1xe I'ass, eos soy
nopuse eao nea 70 autnollze 'ne ",'na"al " ~
v9o'oo' u let'ai tenoe1s' aoou' oue-lh., =. ".
w. 'a a.e gfeenoacks' ano lne olhet nAu
s.e.a 90 r.. cen1s, and me ,ssulnR' N aneE
-. al 74uai a,aoan. oi .sa'1on" '.4. osnA
sam noo ooo .so -, u 1''ng, Us no"' noo
oon ~ ~ 49,, tsnaos1 ~ nH - noecs ano so''oU'-
Them We shona 1hsn h.~a tsn eoo 20 ooo 1enee@ Gae
1eoa1 tenaers and s1oo ooo S9oo,Voo'osv ~ u
notes demandiup reae1nn.;ou ,o'' a =. oanh ~
bsnss must mainta5n ta1tn, 1aaa1 ,aaao, AZ es ne
of 25 per cent Of their c;rcr1at;aa ~ aas 2,'i =" "
posts this requirement vonld n1'so,t 1 ahoa. ~
$3.50, 600, coo of the greenbaeks. 1eaysnr us
only S15o, ooo, 900 in circulation for The Ta,
dernntion of &4nO- ono OfN1 of hon1, vt.
, 1870-05-26

ing into market to buy Slao, oo0, 900 .of ad-
rhona bonds dsnsthe basis Of the 9s5, ,o30, 900
ot new cureucy to be issued IN tbs vsu1.
ons fluctuations Of government credit, th55
ereenbacks have, generally, borne the same
value as the bonds, less about one years
interest Whatever enhances the value of
the interest-boasing debt very soon raises
the gold value Of the promise which bears
no interest, and riee persd.: The call of
the bankers. Of the Southern, Western and
Pacific States, foz S12o, 600, 900 more Of
bonds therefore, would enhance their
pnce, and. especially IN connection with the
lessenlng OF the'volume Of the greenbacks
anoat, would tend strongly to raise the value
Oh Inc gzeenbacks, and remove the premi-
nm on gold, and bring Us nearer to specie
payments. In short, the removal Of the
premium and the resumption Of specie paw.
mems are one and the same thing What
ever is adequate for the one is abundant
for the other. So far, Mr.. Garfeld,s bill is
well
: Now, if the House VIII strike ont all CO.
erciye efforts to compel any class Of cred
1tors to lend the government at 4 per cent
when THAR money is worth G.; II it Will
simply authorize the Secretary Of the Treas- !
nry to offer bonds bearing a lower rate of |
interest and on longer time, with power
TO sell them for gold at par, or exchange
them Tor outstanding G and per cents at
par, and allow the public to take these as
aud when they find it profitable to do 30.
.hey viii hive done everything towards
tnnd1ng the debt nt q lower rate of interest
hat can honestly be done To do more is
. lower the dignity or sully the credit OF I
he nation
II my addition is then needed to the hill
ct 1t embody provision requiring the sale
u our surplus gold IN the Treasury, The
.1ploded dogma on which this idle hoard in
iept at an expense of $4,000, 600 a year
loss OF interest alone, is that it keens |
lown the premium on gold. In fat .stula-
lcation of this dogma, the Secretary iaises I
ne premium as he increases his hoard and
educes it Whenever he sal1s The more
old he wlthdraHs from the market. the
ess there is for the gamblers to carry. and
he more easily they control its p1ice, Jay
'ouad's testimony before the Gold Con !
piracy Committee shows that ii requires
lore capital to buy s., ooo, 600 Of roal gold 6
ian to buy $50, ,0oo, 900 of fictitious gold. {
no hoard now kept by our government is
rger than is maintained anywhere.- on |,
nth, except in the Bank of Franco
1t Is astounding that this dogma Of the ne .
sssity OF a vast gold hoard, which is not :
led for any nurpoen re ,.oa--a-- ty
, 1870-05-26

r tne sententious saying Is attributed to
s.eta1y Boutwell, that Congress will
na1oy care to adjourn without passing the
funoing bill. since it has been shown that
several million dollnrs per annum can there
by be saved in interest, When Andy john
son recommended that provision should be
made FOR repudiating the whole debt ut the
end Of sixteen years, he prohab1y y thought
TINT Congress would not dare 10 adjourn
, 1870-05-26

The success of the Siemens furnace.
which has been for five years under expert
mcnt, IS all that is needed to render the
cheap Goals of Illinois as available for
smelling ores and other manufacturing pur-
poses as the best and highest priced Goals of
Pennsylvania. The method Of the Sie1nens
furnace is to reduce the combnstible ele-
ments Of the coal to gas and bum them
in gaseous form The report Of Nj. Shade
to A. Hewett, United States Commissioner
- t1.o rna;o E1tt's1t1uu, thus duscribes the
progress making in the use Of the Sienens
furnace in England, more especially in the
establishments for the manufacture of
Bessemer rails, He says:
t. The Slemens furnace Ia coming extensively into
use In steel-Works for heating tnRuts At present
they are In operation at Crewt. Bolton. barrow,
The !AerseT works, and some other places. They
require certain amount Of care IN their man-
agenent, but yield very satisfactory results In
thefr WORKING. They are expensive IN f1rst COST,
Lut in districts where coal slnck Is abundant they
are M eN7eeedingly = economical IN respect Of 1oei,
since they allow OF the Use Of this cheap material
instead Of better and more expensive coal. but
even where Eood coal Must he employed in the
d1ced By combustion 1euder1 the saving Of fuel
very considerable as compared with the ordinary
reyerberatory furnace. For steel, an excessively
y
OPERATIONS, and which alone the siemens Tegener-
0p1s are able to give fs not necessary, and where
much steam power is Required Il may be quite rs
laces for healing the boilers as to pass through
for the purpose Of heaung the lnc0M-
Ing gases Tor the furnaces themselves In such q
,ase. as much mud more expensive fuel might be
'e4Hifed foT generating steam under Independent
ociiers as would be saEed at the furnaces by the
tse Of the regcneratorH. In this 'conuet-
Ion my be noticed 3 plan that has been adopted
It tile Bolton works with good results, namely,
he heating Of boilers By gas drawn directly from
he gas producers This, of course, gives the |
anne economy In respect Of slack as already re- |
erred to- Where sufficient steam ls already OBJ !
aimed, Is not required Mt all. the regcnefatIre
urnnces are of undoubted advantage. MT. Webb, |
t Bolton, states that 1t Is stil IN open question
Fith him whether 1t Is prefcruhle to hest Ills boil
Es, IS already mentioned, BY gas. or to place them
YER furnaces fred in the ordinary way with coal"
When this process Is perfected, the State
f Illinois Will hare the largest and the
heapest supply of fuel for manufacturing
IN the world Asthe transportation
f fuel is more costly than that ofany, or in
eed, all the other elements that enter into
compelling the manufactures
} seek the locality where the fuel is de-
osited, it is perfectly obvious that it is
ntten in the strata Of Illinois that she Will
ne day be one of the. richest States in
in the Union.
, 1870-05-26
TIE HNIAE FOLLY.

The Fenian movement against Canada is
beginning to take shape. It appears that
General ONeills branch of the brother
hood, acting in opposition to the "Legfs-
latiTe Department. andalso at loggesheada,
with the @'savage faction" Whatever that
mny be, has concentrated about one
thousand men at St Albans, Vermont, and
another column Of unknown strength at Ma
lone, New 1ork, with small force at Buffalo,
to invade Canada! 1tis reported that the
St Mbaus detachment have already crossed
the Line under the lead of ONeil1, who
promises to return as conqueror or a
corpse. :
Looking upon this 1aid in MI sobriety,
and suppoaing that General O.Neill is sane
man and responsible for his acts, we say that
his ambition to become corpse ought tobe
g1atlhed in the most summary manner. He
has enlisted one or two thousand fools in
sn enterprise Of bzigandage aud land piracy,
and, with this feeble force, he has hurled
himself, not merely against the Dominion
Of Canada, but against the British Empire.
Ihe man who conceived this. Lish wake |
would, of course, not stop to
consider the attitude OF the United !
States toward his enterprise, else
he would have perceived that tbs eoy-
eminent must Immediately put forth its
energies to arrest aud prevent such m out
1age against our own laws and the law of
nations. No country can afford to become |
emb1oaled N war by the unauthorized and
unlawful acts Of its subjects, or Of aliens
residing within its jurisdiction The Presi-
dents proclamation. waning all such per-
sons to desist, and directing all
officers Of the United States to
Use all lawful means to prevent
'uch raids and bring the marauders to JUS
ice, ~ns timely and proper It should be
ollowed by the prompt movement of
rooPs to points where the crazy followers
# ONeiu are congresated, and. if neces-
ary, by calling out the militia Of Vermont
nd New York, to aid in collaring the bed
a1nites before they do any further mischief
o themselves or others
, 1870-05-26
The Philadelphia North american con-
cludes an indict tment against the free trad
ers with the following terrific charges:

&@>@A+-~
"l0. The free tIalers are all opposed to the an-
nexatioa OF San Domingo, which would give us
formidable position In the West Indies, and ena-'
Bile Us to nanGusre with navy to great adrant-
age aEalnst Jamaica, the Bahamas Or Demrrara,
La case Of var with Ehgtund.
I'll The Tree traders are a1l opposed to the an
nexntton Of the Fejee Islands, which would
gire US q. naval station in the South Pacific,
"heIe the british now stand alone and supreme.
"1a The free traders Fere all opposed TO The
r.: ss1atioa of Alaska which placed British Column
manded perfectly on the coast By both. They
now oppose Ill appropriations for naval or mill
tAry purposes In Alaska that could render tue posi-
aon @ useful or formidable In case Of war with the
! The free traders viii doubtless blush to
find themselves discovered in the commits
sion OF these dagrant acts. But we may
plead in mitigation our utter ignorance, up
to the present time, that the annexation Of
san Domingo, Us means of manmurrine
ngainst England, or the conquest Of the
Fejee Islands, or the purchase of Alaaka,
we're protectionist measures.
, 1870-05-26

me following named Republicans voted
tor MI: Juda's resolution to suspend the
iales that he might introduce and have
passed bill to reduce the duties ON I'M
ports as follows: On syrup, molasses and
al sugars, and on salt, 334 per cent on
eohee and tea, 20 per cent; on pig and
scrap iron, 2224 Der cent.
, 1870-05-26

REDUCTION OF TAXES.

REDUCTION OF TAXES,
There is abi1l now before the Senate, har-
ing for its object the repeal or. reduction of
various items Of the internal revenue taxaz
ton The taxes proposed to bs repealed
include the fo1lowing:
, 1870-05-26

sponsible for ny n3d1ament OF anyact;on th,t
led to the present negotiation.
20. This article, game ~ before, in rel3ttou
TO no extya tax for five ycars except on liquor.
Peua5na il6ey IL Caxrtspozsdeslec ef eae Sc {auf
Prw,
The Red River Government b7a received
private information that the Dominion viii
grant tho Red River demands II thss be COZ
rect, Of course the Northwest antsrs the Con-
tede1ation- But, il rejected and coercion ,be
n astttempted By Canada. the people will deSaod
themselves Is hest thev can -
, 1870-05-26

' A very astounding statement vas that Of Mr.
James Brooks the other day, that ha had never
been q Know Nothing- He ssys that his h1u-
sher Erastas had been; but, as for him, he waa'
, 1870-05-26
MISCELLANEOUS.

r T. Barnum has been lectu1ing the Nor
mons at Salt Lake City, on the "Atof Money
eattiug."
, 1870-05-26
RAILROAD AID,

IecnrEument of the Cases In tho
Michigan Supreme CouFt-Posixion
OF the Railr0ad-The Conz3i&u.
tlonnl Question.
, 1870-05-26

constitution which are ns followB:
SEE 6 The credit OF the State shall not be grant.
ed To- o. In aid Of any person, association, OF cor
pnfauon-
SEC The state sha1l not subscribe to, or be in.
teIested n the stock Of any company, association,
sEG9. Tue State shall not be party to. or In.
te!ested in, any wolk OK Internal Improvement.
1t is argued that the word State" Ii these
ration, and not to the Inferior or subord;nsto
municipalities within the State. The case Of
FrettymAu cs: Supervisors, 10 H. 416, is espe-
cially referred to, and the opinion OF Walker,
J.. IS very fully quoted from. The case has
b ao ge esss II y SIZE sna5sqgeat dss
Lexington Railroad, Is Monroe i, and Ctarko
6. City Of Rochester, q Barb. 1872, are also
cited.
That these provisions apply to the State in
it's corporate capacity only, is argued from =
vides that, "So member OF the Legislature
ahall be interested;, directly; in any contract
With the State, or any county thereof, author
led BY any law during the -time for which he
ia elected, nor for ons year thereafter"
Section e provides that, "The Legislature
eha!l provide by Law that the furnishing Of
fuel and stationery for the nsa Of he SAFE.
the state printing, etc, sha1l be let bT contract
to the lowest bidder"
It further provides that, The Leeislature
shall prescribe by laEthe manner IA Which,
5tale pruning Ahall be done. No member OF
tho Legislature or officer Of the State shall be
interested, directly or indirectly, in aaY guch
contract" As to the meaning OF tho Lecigture
IN the secton IN question, counsel say.
u was not the object OF Section to str1re at the
whoe system Of credit and to forbid ia extension
70 persons, associations, or cornn7atons- Int tn
present the State, as corporation, f,um ,oanine
~ 3ts Sseal!s IneEe Eould be more plaushtsty TO
the argument On The other side II ne act in Dues
non contemplated that all The tgwuships IL th.
slatee acting Jointly, slsanlI pledge thtr credit,
taea me persons liable foE its payment would
0e co-e1tenstre with the pe4sons forming the
ahd there would be some plansblllsy ln say.
!nH tnat they were the State within the meaning OF
tals secuon; but how tho township Of Salem CAD
9 os unaeIstooa as meant by the word state, u aoy
o. me senses n which 1t = employed IN the coos-
tu1ion- It Is difficult to comprehend
49,. Ine same argument applies 10 sect1en =, plonlo-
ltlhg the State from Subscribing to. or oeinE Nset-
es1ed II, the stock Of any company, as8ocfaou, of
corporation. -.---.
Tho object Ha8 not to dlscou1te1anee stock a.
scc1auons: On tho contrary, such corporations arc
favored BIZ, the constitution by prnYtaton that
they may organize and do bualne3s under gen
eraf law and without any specified charter.
The same argument applies also to Section o.
rruy1dIofs that the State shall mot be party tns
Or Interested In, any work Of snte7sat fa1pspse-
tdenG ...~ ....ot- = = - :.
civilization aud property In II countless WI: y
, 1870-05-26

the Pacific coast, Is o New Yorker, and brother
Of David Dudley and Cyrus ". Field He is
q, hanasons 1;9s .;+h man, IN 1.-The! the Prime n.
hair, aud he wears gold spectscies. ' He thss has
probably the finest memory and Is the most
vnEacaoua reader amongst our public men. His
wife is highly accomplished, aud both OF them
are people Of foreign travel aud literary cui-
ture-. Field is the most positive man on the
bench, Of distinguished courage and. adven-
turei and htA circuit duties make him travel an
nual1y over distance equal tohalf the ci1cum-
ference OF the earth He is very rich and of
somewhat arrogant temper, whereby he has
frequently made enemies, and, during the i'm
peachment trlnl, be was charged with having
expressed great contempt for the whole move-
meut and ita managers
DAVID A. WELLS.
Every attempt the pig iron people make to
infure Mr.. David 4. Wells EXPOSES their naked
ness q posaeri1i.: DanialJ Moren, and some
other email created, beings, resolved to make
recent :series q Letters, ,inquairing into,
for terrific onslaught from the Manufacture
ing Committee. These letters Were al E1ittan
IN the Office Of the Iron Age, ! sheet edited BY
> genial old gentleman named Cooper,
. steel manufacturer Of Pittsburgh, and
formed part q general plot to blsckgu&rd
a1onef, Oakes Ames, and Negley, made sixty
pages, and xaa thought to be up to thu full
measure Of bitterness. The minority Of the
committee asked leave to print their views il, :.
he sa1ne document with the minority, and 10 !;
when the book comes out it is found thai the
minority report is twenty pages longer than
the majority "a,
The m.3 3o1ity feel that this ineoz7ig1he Com
missioner must be wizard for, as nearly AZ
hey can make it out, Mr.. Wells hinseN wrota
sho vieNs Of the minority with the proof f-sheets
II the majority before him. Here is q docu-
nept, therefore, which Will have o vide circu-
alton and make misery nom the Conampugh
% the Schuylkill.. BY the WY, ace that the
hiladelphisl harury promises to revive md
,rint some thrilling FREQ taan speeches of
IL. Wm- D. Kelley, delivered lew years be-
ore the war, when Mr.. Kelley was = raging
Democratic politiian-
Three members Of Grants Cabinst are al |
eyed to be heartily in sympathy with the
movement for revenue reform: Hoar, Of |
Fiab, Of New York, and Coz, OF |
]hio. The President has made one OF two :ef-
o1ts to examine the subject dispassionately !
,ut it is too plain foS him to nasterit.
EEpoES ON noMx !
A very astounding statement w.s that ct Nj.
lanes BEooks the other day, that ha had never
,cen n Know Nothing Hs ssys that his bao-
her Erastus had been; but, as for him, be was
, 1870-05-26
RED RIVER.

Important Speech by President Ricl-
His A1tusion to Canadian Threats
The List OF Demands Sent to Can.
I1dn by thc Red River Delegates.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1870-04-19

- war, but if they do, and should meet the
Macedonian, would try and convince you TO
the contrary. o,,o,o, , tr, s,ins
.;S meet and after the British ship struck, as
u .ha vessels were nearing each other, Decatur
. nho vas examining the strange ship with his
W." ",aos exelaiued,:it is the Mae sdonian, see
s Sont Garden. He soon after halle ard de-
,narnded the name OF the ship. The rcpIy, was,
Wis Britannia Ma ,sty's late irga'e Mace
aanian." Decatur then asked, is Capt. Gar
don we'll ? The reply was. The is well.
John Bull then hailed and asked the name
g the American ship. The reply was the
r. s shin United States" He then as ed:ls
G.nt Decatur we'll? The reply was, 'CaPt.
naraiur is we'll" When the British Captain
anne nm board and rendered his sword, D. catur
retnsed to accept the sword OF an cttlc.r VINO
had 50 eallantly fought his ship, AMI treaties
him with distinguished honor<.
IA At dinner soon afterwards, CAPT. Garden:
,sho was ir very low spirits 'utt!n& lis hand
70 his forehead sail, Capt, Decatur, am ai i
mined nan. Why so, said Decatur? 3
canse am the only commanuer o. bflI.Sd
fripatc who has surrendered his ship 10 aHotneF
frigate OF any nation, not cny "''l''h ''i'ns
memory, bu, even in modern lmeS' Ill" a.
though yon know that ha'e n''uG a. EU'' -
fpht as could have been made, tic c"uh''s
Will not be satisfied and | shall be COURT mr. G,
Jailed I and the rcsui, Is not druh,tuL 'O1
no r said Decatur, do not taI"k 50; wnen
lett Bristoc, not lopg since, Capt. Dtcrc' and
the officers and crew Ct the fr'Ea'c GueF:irrc
were then brou.ht in by The iIiEatG OnHH W.
ton" And the ship, asked CaIien y ~
said Decatur, "Huil disabled her so much 80 q
mnsh shorter action than ours, that size c9Nd
not be brought 10 and 50 he burned her. ~
British Captain spirits rcse at oncc i've hnn
dred per Ct and he fe't Saf!
There is venerable and raan; commodore
Ga townsman) yet with US, who We hope yet Il
sec an Admiral who was young ndshiP
man on board the United States in that actor
and Was also 10 the bloody fig lit OF the II Ii
August 1914 between the feican ana Argus
As far as known he is the Only survivor .
those two Actions which tended 30 mucn IL
raise the character q our lit!2 na1yln tn
eyes Of the world. W.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1870-04-19
9sEsErNA Ns;Ss 3.

W. learn from the Norfolk papers that DR..
Ftarcis l.. Gait, ia son OF Major John NJ
Ga.t,) has received commission as surgeon in
the Peruvian navy. He has been assigned tc
auty as senior medical officer of an expedition
Commanded by Admiral j. II. Tucker,
formerly or Virginia. which the government
O! Peru is now preparing for the exploration
of the head waters Of the AmszoE, and vii
leave the u. S. about the st CT July.
4 fire has broken out il the woods nea
| namiiton's Crossing, on the Richmond
Frederick burg and Potomac Railroad, il
Spotsylvania county, doing much damage t
tao FARMERS in that ucghborhood, burnln!
| fences weed. grass. Sc.
R.v. john Cosby mas resigned the Rec
torship ct Eulmanuci church at Har!isonbuig
The Vcs.rg of the church are prepariog tt
c,l ano;hrr g3utlcmlu t. ii his pulpit.
Co.. K L. Withets has accepted an In
vi:a.iou to deliver the Annual Address be
fore the Literary Societies OF Emory ant
Henry College, on the S:h of June next.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1870-04-19
NEWS OF The DAY.
"7o sAoo the utry age ard body Of the 1'rns''

The will Of Rev. DR.. John McCliutock was
admitted to probate by the surrogate OF MOT
ris county, New Jersey, last week. Commeno,
inc lie in slraightcned circumstances. anu
engaged always in "preaching and teaching.
he t5nnd time to compile works upon eoucaI
,ional and thco'o :ica! sui jscts, the SAFE VI
which brought him considerable income.
Careful investments increased his gains, 80 Una.
hn was at the time of his death worth aoou'
$3.50 900.
Henry Ward Bscchcr preached sermon on
Sunday evening upon official corruption' ano
illustrated! particularly the New York hsglsle,
tire. lie said that mot IN fu!ton nIath u
meat hung up and sold more openly tilan ni'l
are chartered and hung up in Albany
The L. s. steamer Iroquois arrived ID
Hsmpton Roads on Saturday last, l3I days
from Hons Kong, China, She broughta mum
of sailors and marines whose term OF service nae
expired.
The banking house of Scott, Williams Il Co.
at Columbia, S. C., was robbed to the amour
Of 500 900 on Sunday The bank loses abou
SO 600 and special depositors the remainder.
Among the nominations sent to the Senat
yesterday ny the President was that OF alr. j
Guest King, Of Annapolis, to be Collector 0
Customs at that port.
TIE Northern Central Railway, hetwee
Wilamsport and E!mira, is said to have bee
injured by the recent tleshet IN the Susque
hanna.
Tae .hrec candidates for the presidency nov
ia the field are Daniel Pratt George Francl:
Train and Victoria G. Woodruff.
Colonel Mack, OF the Regular army, has bec1
appointed Inspector Of National Cemeteries