The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1875-01-28
THE YEAR REVIEWED.
Twelve Months of the Worlds Political.
Social, Mechanical and Theolog-
ical History.

DOrtant events as the last snow storm,
or the last great haul of fish. f a SINH
lar practice prevailed i'll the United
States, most of the chronology OF the
wear which closed less than month ago,
would be referred to the panic of
September, 1873. The opening of the
year IA found the industries of the
country FRUSTRATED. The iron furnaces,
cut off from their principal market by
the stoppage of railroad building, had
blown out. Holders Of dry goods IN the
commercial centres had been compelled
by enlbarrassments to throw an immense
stock Of goods upon the market at rates
from the losses occasioned by this cause
to dealers themselves, it so thoroughly
supplied the wants of consumers
duced by the forced economy of the
times, much below their usual level
that the mills have found their occupa-
ton gone almost up to the present date.
The imports were in a corresponding
condition.
The undue extension of railroad build
ing, which by tying up capital had caus-
ed the panic, had at the same time
brought such considerable areas of new
Land under cultivation as to lessen the
prices of produce. 1t cost three bushels
of corn to carry one bushel to market.
The agricultural classes were dissatisfied
and combined by oranges and other
wise to obtain cheap transportation.
The oranges number 90, 900 and have
membership of over 100000.
The 43d Congress was expected to de-
vote its chief attention to matters con-
nected with financial and transportation
questions, order to relieve the pressure
upon the business of the country. Con-
siderable time was consumed in repeal
ing the salary bill Of the previous ses-
sion-it is interesting to note that this
was done by majority of 80 to in the
Senate and 226 to % in the House, and
matters OF minor Importance. The fin
ancial action comprised chiefly PROPOSE
lions to initiate or contract the currency
by fixing maximum amount to the gov
ernment notes and to provide for the re-
denption of the notes. The various
views upon the latter point were repre-
scented by those OF KELLEY who pro-
posed to redeem the notes in bonds
bearing $50 interest, fisherman who
would fix date Jan. l TT for redeem
ing them in gold, or 5 per cent. gold
bonds and 3-the majority who favored
leaving the whole matter in statu quo.
The last course prevailed. A bill infat
ing the currency by fixing the maximum
amount at 800, 000,O 900 passed both
houses and alarmed the country but was
defeated by the Presidents veto, The
amount was finally fixed at $685., O00,0 600.
The national banks were at the same
time released from their obligation of
keeping d reserve On hand to redeem
their circulating notes.
THE TRANSPORTATION QUESTION
brought out in the House Feb. 9, a re-
solution asserting the power of Con
gress to regulate commerce between the
states in the interest of the people, and
March 26, bill instituting a board of
commissioners to prepare schedules of
maximum rates for Interstate railways.
a variety of projects for cheapening
transportation by providing double track
freight railways and improving the wat
ar routes of the country were introduce
ed- Only one of these, the Fort St.
Philip canal improving the mouth of
che Mississippi at an estimate cost of
SIC, 900, 900, was authorized.
The bankrupt law was amended in
such a way as to tighten the expenses
OF proceedings in bankruptcy, for the
benefit of creditors. A fertile source of
corruption In the revenue was removed
10y the bill In reference to the examina-
lion of merchants books and the pay
ment of moieties to imformers. Sum-
mers bill for securing the civil rights of
the negro renamed on the Speakers
table as date of adjournment. 1t has
been strongly condemned by Democratic
conventions, and Senator Brownlow, of
Tennessee, writes that its passage will
be the death of the Republican party at
She south. There has been
DISTURBANCES AMOUNTING TO REVOLT
TION
In Texas, Arkansas and Louisiana, and
= long chronicle of outrages which
however, are so strenously asserted by
some authorities to be pure inventions
for partizan purposes, that one hardly
Anows whether to credit them or not
from all parts of the South. The course
I the government, except in tie Louisi-