davidaulloa/AmericanStories huggingface dataset:
, 1873-10-04

Another infamous attompt at polticnl blaok-
mailing has beon exposed, this time at Balti-
moro. Tho Government Surveyor, nnmod Gil
pin, and the Naval Officer, named King, inti-
matcd to their Hubordinasos that contributions
from their September salarioa at certain Office,
which turned out to be that Of tho Secretary Of
tho Republican Executive Committee, would bo
acceptable, aud that II tho contributions were
not forthcoming their designations must be.
Some of the clerks accodod to tho outrageous
demand, but others Indignantly refused. sccre-
tary Richardson approves tho action Of tho lat
tor, and says that they shall DO sustained. 1t Ia
not stated whether tho OCCASION Of tho aaacss-
mont was the samo as that Of Postmaster Filley's
at st. Louis. Wo have not heard that Gon. Grant
has rocently made state visit to Baltimore.
, 1873-10-04

We print on tho second page Of to.day's paper
tho speech delivered yesterday afternoon by Gov.
Washhurn at tho opening Of tho fall campaign
ut Fond du Lac, WIS. There arc many points in
tho speech worthy OF attention. Gov. WASH
burn takos hopeful view Of the financial out
come, though ho. confines himsolf to gonoralities
on this subject. Ho sympathizea with tho Re-
form Movement in California, led by GOV.
Booth, but he naturally fails to recognize
tho necessity for o separate movement
Of aimilnr nature In hts own State. He be-
noyes that the people of Wisconsin haye tho
right under tho State laws to control tho rail-
roads. nfr. Washbrrn makes a good record
for himself In tho Credit Mobilior atea by rofor-
ring buck to hia speeches In Congress- in which
he gaye warning Of the dangers incident to tho
scheme, and deprecated tho worry action which
mado tho Credit Mobilier frauds possible.
His answer to the charge that he voted
for back-pay in 1906 is that ho WIS not q
member OF Congress at that timo. He WAS q
member in 1885, and voted for tho increase from
tho per diem compensation to $4,000 year. No
one has ever thought Of condemning that action.
His expressions on tho subject Of tho tariff are
worry conservative. Flo Bays distinctly that he
desires protection for no class, and does not OBJ
iect to tho removal Of the duty on coal, iron,
salt, aud lumber, even though ho ia personally
Interested in the latter commodity.
, 1873-10-04

DO wol for Acting-afayor Bond to orgn1llzo tho
movement to-t1ay. Tl,oro Is no time to loao aud
no occasion for dolay. Money Is nootl-
cd. THO oitlzons' nppoa1 from Memphis
suggests tint tho Mayors Of tho several
citios inloroat thnmsotvoH in tllcir sutforinga.
Chicago has already forwarded very respectable
s,ltn Of money to Shreveport, La, COLLECTED by
private effort. It is nluo oroported from Memphis
TINT 81 900 have boen received from tho Chicago
Doarl of Trado. If Mayor bond will tako hold
Of tho matter, ho cnn lutoroBt tho mer-
cantile community. and money 1nay bo Hont to
A1omphis tonight. Tho churches can do their
part tomorrow, mud send their contributions for
ward Monday. Chicago muat now remombor tho
glorious charities aho received In tito day of hor
nf1itcttnn
, 1873-10-04

The Chicago produce markets wore firm yos-
torday, under Il continued good demand for caBll
lots, but the upward movement In prices was par-
tially checked. Mess pork was quiet and strong
ut s14s7]h9@14.50 cash, mud 9t3.25@13.5o so'lor
December. Lard was quiet and firm at 756@
794o per lb cash, and 7alo sollor December.
Monts woro nominally firm at s16@s1ao for short
ribs, 81{c for short clear and 0@1015o for sweet
picked hams. Highwinos we're quiet md
stronger at 91@o2c por gallon. Lake freights
we're active aud 16@1c higher, at 90 for wheat 10
Buffalo. Flour was quiet and firm. Wheat Was
IN good. demand, and 1114@2o higher on cash,
which closed ut 9100, while options were easier,
closing at 91.05 seller tic month, and sl.0511G
seller November. Corn WAS quito active and
flrmor, closing ut ss1zo cash, and 4o1(c aoller
November. Oats wore in fair domand and 14@
10 higher closing at 81 cash, and seller
November. Rye was active and steady at Csc.
Barley was more active. but declinod 4@Go,
closing Mt 31.30 for No. 2, md s1.co for No. o.
Tho livestock markets were moro active, and
cattle and hogs advanced. Sheep were firm and
unchanged.
, 1873-10-04

LIABILITIES,
213,328.02


Excess OF hAsels. ,l7893
Wo presume tho circulating notes Of thoban k
are to be deducted from this sum but, as the
amount of said circulation Ia considerably losa
than tint Of the bonds deposited to secure 1t,
thoro will bo surplus Of ore7 one million dollars
after all liabilitiea aro paid, or sum equal to
tho entire capital Of tho bank. lnasmuch as tho
stockholders arc hold for another million, II noe
essary to pay debts Of tho bank, it is perfectly
certain TINT the dopositors will get ovory dollar
Of their money. It is probable. also, that tho
capital OF the bank will DO returned to tho
stockholders unimpaired.
It thus appears that the bank was in a sound
condition at tho time tho panic began, If any
bank can DO esteemed sound which holds largo
balances due to country banlts on demand. Such
balances arc species OF financial nitro-glycor-
inc. It waa this sort Of explosive material
which brought down the Third National, aud
which forced tho New York City banks to sus-
pond, aud which still keops their certified clocks
below par. Tho payment Of interest on do
posits is not banking. It is simply speculation,
and should DO prohibited by law, fur rs tho Ma
tional Banks arc concerned.
, 1873-10-04

The reports from tho Iutor-Stato Industrial
Exposition Indicate tint tho enterprise will bc
gratifying at,l profitable to those who havo
gtvon timo mud money to 1t. The number of
visitors, Hinco tho opening, layo been mostly
resdonts Of Chicago, for tito reason that tile ro-
cent financial furry las interrupted general
travel, md deferred many poop1o from coming to
ohicngo for tho special purpose Of visiting the
Exposition. Now that tile " scaro" " is oyor, md
busness Is returning to its customary channels,
1t Ia probable TINT thcro viii bo NUMEROUS
daily arrivals from tho country, and
especially from tho noighboring districts
whose inhabitants can make tho trip, including
MI inspection Of the Exposition, within ono day.
Tho oxporonico thus far has almost demonstrated
that Chicago eau sustain an annual exposition
without any othor help thatl lts own RESOURCES
aud tho ordinary rim Of transient travel.
, 1873-10-04

1872 IL unconstitutional. Tho act In Il general
Quo, Affecting oil claRsos in tho Stato undor tho
police powors OF tho Legislature, and is author
tzod by tho Constitution.
THO above Ia tho substance OF tho dociHton,
and although tho pointu mado by tho ap-
ppllnrt nro tocllnical and outside tho gonorn1
bearings Of tho law, tho affirmation
of tho Court ia sufficiently broad to
cover the whole ground. Tho samo points in
substance hayo been decided boforo thin In Ohio,
wlcro tho law III almost identioal with tho law In
tflls stato. 1t Ia decision which III In tho in
forests Of public morality, md 1t will, therefore,
bo gladly welcomed by tho 1aw-abiding and
orderly pooplo Of tho Btate, especially in tho
country districts, whore tho decision will havo
tho widest application.
, 1873-10-04

The "acare" is oyer. Tho sanlo stoady and
uniform progress toward full resumption Of
the banks, grim trade, railroad shipments, and
commercial business generally, reported for tho
past throe daya, was noted yesterday In this city
and elsewhere. The moet important local rovi-
wi OF tho day was ut the Stock Yards. Notice was
received from New York bankers that they we're
again prepared to furnish their Chicago custom
ors witl reasonable accommodations, ind Chicago
was able to give the samo assurance to country
dealers. The result WAS q lively dispatch Of
business, New York exehango, which has been
at q discount for sovoral days [aou1otimes Us low
as por cont otf), was taken at about par an tue
afternoon. This resumption ut tho Stock Yards,
which transact all annual business OF noarly
$780, 1000, 900, will bo groat roliof to tho West.
The grain trade Ia aotiye, and 1t is probable that
tho price Of wheat rules "a Alghh to-day
as it would hayo been at this time It there had
been no financial disturbance. The BALES Of
tlreo weeks ago for September and October war
rant this statement, Tho bankors report that
maturing commercial md accommodation papcr
Ii nGlHH lAaA tAO4APk*4 A3 RV@hA A4A'N
been expected after tue extraordinary strin-
reuoy of tho last two weolts. Deposits
arc increasing. ~ q mattcr OF course,
with tho restoration Of public confidence,
and some of tho banks aro doing y largor deposit
business than over. A visit to the quarrymon
md stono-cuttors royoa]B tho faot that there has
bcon no reduction Of forco. though, IN aomo
cases, tho wages are not SO high. Tho whole-
salo merchants give favorable accounts Of coun-
try trade and tho payment Of matured accoansa'
It Ia reported from Indianapolis tARt Certain
persons 10 that State have boon advising tho
country merchants not 10 meet their paper but
to hold their currency. This tnaendlary advice
should not bo hsedol, It is at once unsafe and
Immoral.
New York is rapidly righting itself financially
Ono million moro Of loan.cortlQcates havo been
retired, and they arc quoted at only one-half OF
nor cont discount. 1T this rate they will bo as
good a. groonbaoks today. Gold has declined
to 1O9X, which ia lower than at any tmo alnco the
panic came On. Something was doing in call loanH
, 1873-10-04
SECURITY OF THE BANKS,

Currency il pouring into this city at tho ratio
Of from three to four millions per day to pur-
chase wheat, corn, flour, aud other nocossarios
OF life, which tho EaBt must have, md this flood
Of currency is IN roaty the key to tho situation.
II tho holders Of this currency lock It up, the
striugency must continue, with possibilities OF
more failures. To roliovo tho present situa-
tion this money must go into tho
banks, and got onco more into circu-
lation, that tho wheols OF buBnosa may
move again. There ia no reason why it should
not take this course, unless tloro is doubt In
the public mind relative to the solyency OF tho
banks. II this doubt can bo removed, tho Bitua-
ton is clear. On this point tho provisions Of
tho National Currency act arc explicit. Tho
twelfth section Of the act declares that: "Tho
shareholders Of each association formed under
tho provisions Of this act, mud Of ouch oxisting
bank or banking association that may &C.
cept tho proyieionB Of this act, ahall
DO hold individually responsible, equally and
ratably, and not QUO for another, for al con-
tracts, debts, and engagements Of such associa-
tton to tho extent Of the amount Of their stock
therein, at tho par ualtte hereof III addition to
tho amount invesfed il, such shares; except tho
shareholders Of any banking association now OK
listing under State laws, having not less than
e5,000.0o0 Of capital actually paid In, and
surplua Of 20 per contum on hand"
DO. The latter clause concerns only tho
Bank OF Commerce Of Now York, for tho
benefit Of which 1t WIS made, and has no refor-
once to the general question. Tho remaining
portion of tho Inv, however, rendering stock
holders Liable for tho amount Of their stock,
and an equal amount in addition, ought TO re-
move ovory doubt as to the aolycncy Of the Ma
tioual Banks. The stockholders Of tue Union
National. Third National, and others which hayo
suspended, for instance, arc worry wealthy, out
side OF tho amounts they may huve invested
In bank stocks so that tho security Of dopoaitors
extends a long way beyond tho assets Of tAe
banks. Thig bcing tho casc, thcro is no good
roaaon why holders of currency should koop 1t
in their stockings any longer. Put 1t In the
banks aud Bct 1t moving again, 20 that business
may onco more resume It's Legitimate functions.
| The sooner this is dono, tho sooner will things
| take their normal course again.
, 1873-10-04

Of gold md ourronoy Mt por cont por annum,
with Lilo II day promium, which iH1,ot nn unusual
figure. Moro gold ia coming In from Europe,
and moro than 75 ror cont Of tho grain receipts
Mt Liverpool arc reported to bc from America.
Tho Unftod Statos NIintB IN Philadelphia and
California aro hnrd at work coming American
gold with whiol, to tal,e up tho English Hovor-
ognH at tito Assny oilleo in New York. Though
yesterday was tho last lay Of graco OIL tho Stock
Board, tlloro woro but few snles under tho
rule. nud but ono failure among nil tho brokers.
Tho resumption Of tho National Trust Company
is announced.
Tho ncws elsewhere partakos gonorally Of tho
salno roaBauring ohnraotor. Tho only exception
OF any Importance ia tho resolution adopted by
tho Pittsburgh manufacturers to Withhold ono-
half tho wages from thoir employees for tho
prosont. Thia action will, no doubt, DO roason-
ably accepted by the workmon, as 1t is tho fafrost
plan that could hive boon adopted In tho
temporary scarcity Of currency, aud as
they cannot but feol confident that
thoy will receive thoir money in full
within as,ort time. Jay Cooke t Go. announce,
through Gov. Cooke at Washington, that tho
monbers Of tho firm propose to turn out NIL
their personal property toward tho payment Of
tho firm dobss. a conservative Government
policy Ia indicated by tho refusal Of soorotary
Richardson to nond Charleston, s. G., tho
s5,oooo0o deposit it demanded for tho purpose
Of buying Now York draftH. He announces TINT
the Government will not go into this sort Of
business.
, 1873-10-04

Our spocIal dispatches from Washington give
some gossip about tho vacant Chief-JusticeBhip.
Mr.. Conkling Is said to desire that Judge Ward
Hunt should have it. Judge Pierropont and hlr.
William hl. Evarts are also prominently men-
toned the only objection urged to the lattor be-
ing the fear that he will not keep the place for
nny longth of time. Butler's opposition to
Judge Hoar ia thought to be sufficient to dofoat
tho lattor's prospects, while Jnatice Miller Of
Ohio. and Senator Howe, Of Wisconsin, are re-
pari1ad az ahead in tho race.
, 1873-10-04

tt is reported from Washington that majority
Of President Grants Cabinet are III favor OF ro-
storing tho franking privileges to tho Depart
monts. The Possmastor- General will oppose tho
restoration, however, In his next annual report.
Those who favor it argue tlat tho present system
adds to tile revenue o! the Post Olllco Department
at tho exponse of the other Departments, aud III
In the interest ouly of those who hold mail con-
tracts. T4oro is not much prospect that Con-
gross will give the Departments franklnG privi-
lego without sharing 1t In somo way. President
Grants salary, 1t will bo remembered was only
Increased by giving the Congressman @2,ooo
qear each to vote it.
, 1873-10-04

Tho atntomcnt TINT ex-presidont Johnson lost
sG0, 900 by the failure Of the First National Bank
in Washington has been confirmed. As this sum
comprised tho bulk Of hts moanB, which he has
saved from d long life devoted to public services,
and as tho above bank is not only helplosBly
broken but also diehonored, We havo no doubt
TINT the o1-prosidcnt will roceivo very general
sympathy in his loss. Whatever aims Of omission
or commission arc to be charged to Andrew
johnson, it has never been intimated that ho
was dishonest. II he had been, his fortune
would probably havo been larger thnn 600. 900. In
financial matters, and especially in the matter
Of donations, 1t will DO remembered that ho waa
acrupulously particular, in which respect ho dif~
fers from Government officials of tho present
day,
, 1873-10-04

RA1LR0AD-FAN1CS In GREAT BRITAIN.
The fact is now worry generally recognized that
an exaggerated expansion Of tho railway system
of tho United Statos, tho construction Of thou
sands Of miles Of track leading from fixed
point to nowhere in particular, and speculation
In tho worthless bonds hypothccatod for such
construction, procipitated tho recent panic
upon this country. Tho additional fact iB also
very generally admitted that, after this sovero
losson, money will flow into aomo safor chanuol
and sock Investment In soundor security.
Railway panics, however, arc not peculiar to this
country. Thore Is ovory prospect that Great
Dritnn will shortly bo plunged into financial
confusion in tho same general manner. but from
difToront causea. As with US, railway mis-
management is tho daugor Which throatons that
country, aud 1t has ut last roachod such a point
that crisis ia imminent. Tho particular phaeos
Of mismanagemont, howovor, Which arc imporil-
ing railroad and financial interests thero. diifor
essentially from ours. In tho first place, tho
travelling public iB In panic over tue cxtraorli-
nary incroaso of railway accidents. There has
boon scarcely day for tho pa't two months
without a serious accident Ill some Of the Eng
liah roads, aud, as the Englisll public il much
moro sensitive upon tho subject Of railroad ac-
citlontB than tho American, 1t ia bringing a
proHsuro to bear upon tho railroads which
will ultimately compel thom to use some
degree Of carofulnoas In running trains
aud to roduco tic ratio Of spool. The American
traveller takes his cl,ancos Of being crushed or
boiled with cheerful degree Of fatalism, but
the British travelor has strong prejudice
against any such operation.
but tho panic is not confined to tho travelling
public. Tho managers. stockholders, and bond
hoI1ora arc alAo In 4 panic. Tho great iuoroaso
in the prico Of coal iron, and steel, and tho rise
IN wagos OF every description of labor, have
forced their expenses up to r.linous point.
Tho companies hayo sought to Offset 1t in yari-
GUS ways. First they tried tho experiment of
raising faros, only to lind that whom they passed
n certain point it Ind tho immediate effect
to tloorcaao tho amount OF traffic, and eyon ut
tho safe maximum, tlat tho Increase n receipts
loft only worry small margin ovor tho increase
in expenditures. Second, tho companies iuau-
guratod destructive systom OF economy and
retrcnchmont, by using deficient rolling-Htock.
nogleoting to mako repairs in tho roadways
Which woro needed, aud charging everything
possible to capital. but this policy las brought
about tho crop Of accidents which, as wo have
already said, haH plunged tho whole travelling
| public into panic. Dy such shitts as these,
/ however, they hayo contrlyod to koop pp divl-
donds but oven these shifts aro preferable
| to tho patent plan Of tho Lako shoro Road,
, 1873-10-04
CoNsr1TuT1oNA11TY OF THE LIQUOR LAy

C0NST1TUT10NAI1TY OF THE LIQUOR LAW.
We print elsewhere tho decision Of tho Blu
premo Court Of this State, pronounced by Judge
Scott, affirming tho constitutionality of tho
Liquor Inv Of 1879. Although the points mado
by the appellant are merely technical quibblos,
tho decision is broad enough to cover the ontlro
construction Of tho law. The caso WIS ono
where satoon-koepor, doing business noar Of
tnwa, but outside tho limits Of an incorporated
town or city, had sold liquor by tho glaBs with
out giving tho requisite bond Or taking out D
license. Judgment was ontorcd against linn
by tho Justice of tho Peaco aud also
in tho Circuit Court, whore an agreed
caao had boen made. Before tho Supreme
Court, tho appellant made these points First,
that the pllrasoology Of the sixth section, impos
ing tho penalty, rendered 1t necessary that ho
should DO convicted Of having violated tho first
md second sections, whoroas thoro was no proof
that ho had violated tho second section, which
conditionally prohibits tho salo OF liquor to
minors. On this point tho Court decided that
1t was not Indispensable that he should 10 cou-
yiotel OF having violated both. Tho Inv being
mainly q copy Of tho Ohio law, and this point
having boon decided already in Ohio, tho con-
Htrucsion Of the 1aw must DO adoptel with tho
text Of tho law.
Second, tie appellant urged that tho abatlng
Of saloon ii tautamouns to tho destruction of
private property henco illegal. Tho Court
held that thero was no destruction of
private property, and that 1t wAs constitutional
for the Legislature, through tho exercise Of itB
police poworH, to abate nuiaances which woro
pro1udicial to the public morals or welfare.
The third mud most important point which tho
appellant urged WAS, that tho act ia In conflict
with the Constitution Of 1870, prohibiting tho
passage of special laws granting to individuals
or corporations any special or exclusive priy-
loges. No law bcing In force ut tho passage Of
tho oct In 1879, other thqn in tho chartera Of In
corporeted cities, touching liconaos. and
tho appellant bolng outside incorporated
limits, ho could NOT obtain license,
hence the law actod unoqualy, and
WAS void. Upon this point tho Court
decided that, even IL this state OF facts were
established, It does not follow tint tho law Of
, 1873-10-04

Judge Whitney is reported to havo said, in tho
excitement Of debate in tho Michigan Constitu-
tonal Commission. that it is practice Of Illinois
courta to call an attorney to tho Donch whilo tho
Judge goes out to got q drink. It is possible
thut Judge Withey regards this as d "modorn
innovation" upon tho anciont practice of his
day, when tho Judge took his drinks on tho
Bench, without going out or in my way inter-
rupting tho progross of business. The Michigan
Convention has not yot decided which practice is
to govern courts in that State for the future.
, 1873-10-04

A1f. Charles II. DiclsouHon, Of Mclean County,
WHO has been acting as United States Revenue
Collector ut Springfield Binco Mr.. Harpor's dis
appearance, has boen suspended for refusal to
aistrain on tho property OF cortain Pokin disti}-
Ie1s, He declined to do It on tho ground TINT 1t
would involve him in 3 law-sult, and, as Col.
Merriam will assume the Office in n few days, ho
did mt think IT incumbent on him to do thls, 1t
ia said that A. Fl. purdio will bo Acting-Col-
lector until Col. Merriam takos hold, Which ho
is expected to do by tho 18th inst.
, 1873-10-04

The Republican Central Committee OF Cook
County can't make up its mind what to do with
rerard to tho local election this fill. At meot-
Ink Yesterday afternoon, resolution was oror-
ed to tue OBJECT that 1t is nexpodiont for the Ro-
nuhlican uarty to hold convention. Tho roso-
luton was amended aud discussed, but finally
costponed for consideration 1t Q future 1neeting
OF the Committee. Tho prevailing aentiment
soomed to bo opposed to the holding Of a con-
vontiou On tho ground that thoso ts no National