Northern tribune. [volume] (Cheboygan, Mich.) 1875-1885, 1875-09-11

SOME California capitalists are organ.
izing national telegraph company
which proposes to transmit dispatches
Of ten words within $50 miles for from 10
to 20 cents, and its highest charge will be
81 for 1000 miles or over. II this enter.
prise does not get devoured by that cor
morant monopoly, the Western Union
line, it may be able to compel great re-
duction in telegraph rates.
THOMAS Ell. BENTON, one of the great
pillars Of the Democratic party, was con-
slant in his advocacy Of hard money.
He bears this testimony against an ire
deemable paper currency: 1t tends to
aggregate the inequality of fortunes; to
make the rich richer and the poor poor
er; to multiply nabobs and paupers, and
to deepen and widen the gulf which
separates Dives from Lazarus.
The charge that the Democracy of
the South is in favor of initiation
is pretty well met by Charles Nord.
hoff, a Republican who has taken a great
deal Of pains to familiarize himself with
the condition and sentiment of the South.
Mr.. N ordhOff says that there is a strong
hard currency element in the Democratic
party in North Carolina, and that he be-
lievcs the prevailing sentiment Of the
Southern Democracy is in favor of specie
payments.
A GREAT hue and cry came from the
Boston nabobs about Collector Simmons.
The Boston Advertiser, that kicked up
the principal nabobbery about the matter
says that the system adopted by Col
lector Simmons has won golden opinions
not only at home but at Washington,
and that Secretary Bristow, in an auto
graph letter, announces his intention to
send two commissioners to Boston for
the purpose of investigating its details,
and subsequently patterning other GUS
tom-houses after this fashion"
THE condition Of the Bank of California
turns out like the failures Of Jay Cooke,
Duncan, Sherman & Co. and other 'fnan-
cial kite-fyers, to be Ear worse than at first
supposed. It is extremely doubtful
whether the assets Of the bank will be
sufficient to even pay its depositors in
full. II our financial bal.lunatics could
succeed in their efforts to secure perma-
nent irredeemable currency greatly in
creased from its present volume the coun-
try might reasonably expect constant
repetition Of similar financial shocks to
those given its business interests by the
above failures-all broughtabout by reck-
less, wild speculations.
THE liquor-dealers in Detroit are not all
happy under the new tax law. They want
ed a tax which did not check their bust
ness,-a tax like the wet day which the
lazy boy admired: "too rainy to work, but
just rainy enough to go a-dshing." 1t is
not so pleasant or profitable fishing for
topers under the new law as they expect
ed. No less than Is saloon-keepers in
that city have applied to the common
council for the revocation Of their licenses
and the return of their money on the pcr-
ton of the year not expired. They want
to get out of the business. One of the
liquor-dealers at Sparta, Kent county, has
been fined $75 for refusing to give the
bonds required by lava
The Lansing Republicans thus peril
nently gives the cause Of the heavy bank
failures: Meddling with outside business
is the prominent cause Of bank failures.
The great and all-powerful bank of Cali
fornia, with 100000 in gold as paid-up
capital, and doing business of $50,0O0,000
a year, failed last week because its presi-
dent had gone into the hotel business,
being himself principal owner Of the
Palace Hotel at San Francisco, one Of the
most magnificent In the world. RalstOn,
the president, has committed suicide by
drowning. Duncan, Sherman q Co.
speculated in cotton, and Jay Cooke q
Co. set out to build the Northern Pacific
Railway. If these mammoth bankers
had all stuck to legitimate banking and
kept clear of outside risks, they might
have been fiourishing to-day, and thou
sands of trustful, innocent people have