davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1876-03-25
THE CTPPENCT

While Congress debates and fruitlessly votes
about the currency, the claws of trade are
gradually settling the vexed question after
their own fashion. We have from Controller
Knox q statement of currency issued and
retired from the date of his last report,
Nov. l 90 March 20 inclusive. During this
period of four months and twenty days the
additional circulation issued to banks has been
SO 0O2, ,G6j, and the amount of legal tenders
retired from Nov. to March /, as required
by law, was $2,292,S ,Sj2. Hence, under the
operaton of the law of 1875, of which so much
complaint is made by the intiati0nists, there has
been an increase of currency since Nov.
/ amounting to 500, ,8l3-not Il very alarm
ing imitation, it must be admitted. But this
seems TO be all that the claws of trade have
demanded. Tho door has been wide open.
ANY bank desiring to increase its circulation,
any individuals desiring to establish bank
with circulation, have been at liberty to do so,
and entirely unlimited as to amount excepting
by their financial ability. The men i'll Con-
grcss who continue to clamor for "more
"moncyr ought in dccency to Offer some
plausible explanation of the fact that "suiler-
"ing and starving States' have not more
largely ayaIled themselves OF tnc 11ccGOm 10
expand granted by the act of 1875.
Since the passage of that act, then, the en-
tire increase of circulation called for and issued
80 banks was, from Jan. IA to Nov. !, 1873,
$40, 9S6, ,G75, and from Jan. II, 1875, to March
20, 1876, just $13,9S9,34O Under the re-
quirement of the act, legal tenders were retired
prior TO Nov. amounting to $S,763,756, and
during the whole period since the passage OF
the act the retirement of legal tenders has
been S11 ,O56,6O Thus the result of the act
of 1875 has been an increase of bank notes
greater than the decrease of legal tenders, or
a net imitation of S2,932, ,732. But during the
same time there has been surrender OF circu-
lation far in excess Of the Increase OF circula-
ton under the act of 1875. Prior TO the
passage of that act, it will be remem-
bered, Congress had been besieged by
Western members, who insisted that the
apportionment of circulation was OutrageOusly
oppressive, and. in order 10 open the way for
an increase of bank issues a: the West with
out increasing the aggregate currency, Con-
gress had provided by the act of June 20,
1874, that banks desiring to do 40 could sur
render their circulation by depOsiting legal
tenders for its redemption. Prior to Jan. Ia.
1875, a circulation Of $2,767,232 had thus
New-York tribune., 1876-03-25
gn0es to ADVERTISEMENTS.

AMuspyryTs-om paGs-4th. 5tb. and 9Th columns
BANKING AND FINANCIAI-10h Pdge-2d and "a cOiumns'
BASKISG HOUSES AND BANKERs-l1N Pdde-lst coinlh'
NOAHD AND KOoMS-9 Oh Pdgc-ilh and 1tn columns.
BUSINESS CHANCEs--11H Pu0e-1st column
BUSINESS NOTICEs-6M PGqc-lst column.
DENTIsIKY-l1M P00f-3d column
DIvIDrND NOTICEs-llih PoGe-lSt column -
FiSAsCINL-IOM Paoc-Gth column, and 1lh Page, LIST
column
FINE AHTs-9M PdGe-6tb column.
FURNITuKL-1lM IGOs-3t column
HELP WANTED-9H Pdge-6th column.
HOTELs-9h P0gc--4th column
HoisEs ASD FARMS WANTED-9h Page-3d column
Ice CREAA-11M Pa0e-3d column
Pddf-1st column
IyorrREs AND MFETINGs-9h Id0e-6th column
MARBLE AND SLATE MANTELS-11M Pd0e--ou column
NAHEIAGIs AND DEAFIis-7h Pd0e-6th column -,
MIsCrEILANEoUs-9M TdGe-4th columh 12h Pa9e-oth
and 9th columns. ~
Musical ISsTRUuESTs-9h Pd0s-Gth column
NEW PuBrICAroNs-eh Pa0e-3d, 4th 9TH, ana 0th col
umns-9H PdGe-1st cOume. m ,. .
REAI ESTATE For SNE-CiTY-9h PGGe-2d column !;
BRooKLYN-9M Pdqe-2d column; CoUNIh611oH foge
I'D and Sd columns; AUCTION SALts-Slt fdge-
3i column To EXCHASGL-9h Idge-3d column
RELIGIOUS NorICEs-11M Pace d ana 81 coIuinbs
SIIFs NY AUCTloN-l1h P0Gc-3d cOumu -.
SITUATIONS WASTED-MALEs-9h F30e-oth coiunh :
FEMALEs-oh Ioqe-5th and 9th columns
eprCIN NOrICEs-7h PGnt-6th column -, c.,
STEAMBOATS, AMI kAuROADS-1lM Fa9c-oth ana oth
columns. -, ,
IxaCuRps-0n PdOf-lst and I'd columns.
To IyT-fITY PROPturY-9M Pd0e-3d column BRook,
LYS--9h PaGe-3d column; CousTEf-9h Fa9e-ou
and 18th columns. O, ,,
To WHOM III MAY CoScRRN-11h Pdge-3d column
New-York tribune., 1876-03-25

all oualms of conscience. II they have per-
sonal property in their own votes, it is not for
the purpose of bargain and sale. 1t is given TO
them by the Constitution that they may
exercise liberty of choice, and such liberty
they intend to take. A convention says: All
"Republicans will bring in their votes 1or
"John JONES'" The Independent voter says
81 know your John jones'" or % don't know
chin. and he will get no vote from me. 40
"know John Smith, who has been nominated
"by the other side think HIM an honest and
cable man, and shall vote for Smith," Howls
of horror and ncredulity, accusations OF treasoh'
insinuations of idiocy, will not shake this lnde-
pendcnt voter in his solid mind. He votes for
Smith. and ia remOrselessly excOmmunlcateu
by his old associates. Yet we should ike
to know in what other way he could have
recorded his disapprObation OF the nomination
of John Jones.
An Independent political position. albeit tho
only one which rational creature can
honorably and consistently occupy, necessarily
appears absurd to those who are Republicans
or Democrats, because they also desire 10 De
members of Congress or Custom house porters |;
or because they have private interests, usually
of the pecuniary sort, which can only pe
promoted by lobbying in the Capitol or by
going I'D the back stars of the White House
These politicians, without real politics, these
patriots of the pocket, naturally regard WIN
disgust every man who has opinions, and VINO
puts them into his vote. He lowers the
market value of blind and INSCRIPTIONS
devotion. He makes men in office cautious
how they patronize greedy adventurers.
He helps to preserve the tradition of
that political honesty upon which par
ties nre founded, and which they often
do their worst to render wholy traditional.
When Mr.. Jefferson said, awe have called
"by different names brethren of the same
principle; we are all Republicans, we are all
Federaists," he yielded to generous though
impracticable and visionary sentiment; but
the independent voter comes nearest to real
ization of this noble and catholic idea. lie
cares nothing for names. His alliance is re-
served for the party which deserves it. HIS
vote is for the candidate who is worthy OF 1t.
No caucus owns HIM; while in time the broad
liborality of hs principles will compel the
caucus to consider them, and to be chary OF
experiments upon party fealty and upon popu-
lar crcdulity
New-York tribune., 1876-03-25

been surrendered. But when the Free BANK
"ingr act opened the privilege of issuing pa
per to everybody, upon prescribed conditions
many banks felt that it was 10 longer deslra-
bic to retain circulation which had ceased
to be an exclusive privilege, which they
could not at present use, and which they
could recover at any time, II they
should desire, under the provisions
of the new law. Accordingly, from Jan. IA
to Nov. /, 1875, banks voluntarily deposited
legal tenders amounting to $22,719,6O7 for
the redemption and retirement OF their clrcu-
lation. This movement has not Ivy any means
ceased According to the statement OF the
Controller, the legal tenders deposited for
surrender of circulation from Nov. ] to March
20, inclusive, amount to $11 ,S9S.62S, besides
81 ,5S4629 thus deposited by banks III liqui-
dation. The total deposit of legal tenders
since Nov. / is thus $13, ,1S3,257, and since
Jan. ID, 1875, II amounts TO G,202, ,S6l.
This is contraction of the currency. Though
the notes are only redeemed gradually, the
legal tenders deposited arc practically with
drawn from circulation until the bank notes
come in to be redeemed and retired.
Thus it appears that while the Free Banking
lation amounting TO s., 2,932, 732, the claws of
trade" have caused contraction of the
circulation amounting to $3G,2O2,S6i. The
net result is practically withdrawal of
$33 go, 1872 from that circulation which the
inflatiunists insist is much too small for the
wants of trade But since the wants of trade have
effected this withdrawal, the inflationists will
tell us, doubtless, that the wants of trade
don't know what they are about. IL may be
as well to ask for what conceivable reason
the act of 1875 should be repealed. Not by
that act as we have shown. but by the pre-
vi0us act Of June 20, 1874 these blind and
stupid wants of trade have been permitted to
cause contraction. If the infationists were
not at bottom rcpudiators, their clamor would
bc for the repeal Of the act of 1874. But
they are rcpudiators, and therefore insist
upon the repeal of the act of 1S7j-the very
act by which increase of currency was per-
mittcd. Everybody knows the reason. That
act contains "a solemn pledge of the public
faith.
New-York tribune., 1876-03-25
POLITICAL INDEPFNDTNCF.

The average American politician believes
that he must be either "a Republican or
DemOcrat-a state between these he regards
a. one of lonesome and even di'ieputable
limbo He has no idea of waiting or of re-
signation 10 the day OF small things; nor can
he comprehend that every party, in its first
stage, has been Il third party. The gathering
together Of two or three may be- well enough
IN religion, but in politics it is only lujcrous.
Power itself. represented by hundreds of thou
sands of votes, whether in Il majority or
minority. is tangible and coumnar but 10 be
counted only among the scattering" to bc
abused IA "A marplot aud stgmatizcd rs an
outcas, and to receive daily 4 double dose of
ytuDeration. is more than the average Ameri-
can politician aforesaid can bear. How can
there he more than two sides in a battle of
politics any more than in n battle of armies
So, with misgivngS, many IN honest man
takes this side or that. and surrcndcrs CON
science aud judgment and self-rcapect merely
because he il SO loudly told that he must.
Gen. George Lewis Cooke being nominated
for Governor last week by the Democratic
State Convention of Rhode Island, not only
declines TO be It's candidate, but tells the State
Committee that he considers it "to be- his duty
"t0 occupy an Independent position; cutting
loose from all party affiliations, and cxcIting
"whatevcr influence he may possess in sccur
"ing the success of the purcst and best elc
ments in political matters" To the average
American politician aforesaid, the course of
Gen. Cooke must appear eXquisitely absurd.
Why, the gentleman really consents to be no.
body! Upon no waving banner will his name
bc Inscribed; no torchlight procession will
howl its affection under his windows; no eau
Gus will ratify him and no committee work for
HIM; no newspapers will pronounce him po-
litically perfect, and no bets will be offered
and taken on his success. He gives up the
chance (ghOsly or Othcrwise) of being Cover
nor of the State of Rhode Island and Provi-
dencc Plantations, and all for some underlined
and over-scrupulous notion of securing the
"success of the purest and best elements in
"pOlitical matters" A few more such Cookies
would spoil the broth in the political cauldron
with % vengeance!
Yet there are thousands and tens Of thou
sands of voters who have pretty well deter
mined to do even as this Rhode Island gentle
man is doing, and who think that "the safety
"of our institutions is impcriled by too blind
adherence to party" They arc weary of al
legiance to committees they arc tired Of being
annually disposed of by conventions; and
they are beginning to understand how infini-
tesimal is their share in the selection of can
didates for whom they are expected to shout
and to vote in spite Of all doubts and mauger
New-York tribune., 1876-03-25

voluntarily to assume household service. Hp.
man nature Is the same. even in New-En land
Not one lady by birth and breeding in a thou.
sand would find herself condemned to wash.
ing pans or waiting at table who would not
become morbid, rebel against fate, and con.
trIve in a thousand disagreeable ways to thrust
upon her employers the knowledge that she
was born for better things. Not one mstres,
in thousand would be comfortable knowing
that the girl standing as a menal at her back
was criticising her language and manners from
perhaps higher point of view than her own.
Only in novels is the experiment successful
and even in novels the well-bred cook marries
the son of the family, and his mother takes
her at last to her table and heart.
New-York tribune., 1876-03-25
Netu'Uork Daily Qribna1e.
FOUNDED BY HORACE GREELEY.
SATURDAY, MARCH 25, 1876.
TRIPLE SH E E Il .
TIE NEWS THIS MORNING.

FonEfCy-The French Chamber of Deputies de-
cided to abolish the state of siege. - President
Dominique of Hayt was marching on Jacme where
the revouiOnists were in power. -- The Mexi-
can revolutionsts have captured Jalapa; forced
loan of $500 900 was imposed at Matamoros. -
Egyptian securities declined to zig per cent in
London.
DoMEs1IC-Senator Jones of Nevada is preparing
a great speech on Silver. - Mrs. Marsh testified
Yesterday, and denied that Mrs. Belknap admitted
receiving share of the Kentucky Central award
- Cen Sherman had interviews yesterday with
the President and Secretary Taft as TO the army
headquarters. - new bill to reorganize the
army dispenses with 200 officers. - Gov. 1llden
has issued his message on the Improvement OF the
canals. In the Legislature yesterday the bill pro-
hibting the of the city parks for railroad pur
poses has passed the Senate; an act is before the
Senate providing for reorganization of the New
York police force.
CoYGRgss.-In the Senate yesterday the Electoral
Vote bill was passed nearly by party VOTE but a
motion to reconsider was entered the Post Route
bill was passed Mr. Sargent (Rep, Cali advocated
the franking privilege - In the House, legsla-
tive appropriation alone was discussed; a long and
stormy debate took place over rival amendments to
cut down and to raise Congressional salaries.
City AND SUBURBAN.-The final conference be-
tween American and English representatives of
Eric interests was held. The gauge will not be mar
rowed at present. - Mr.. Moody preached his
second sermon on Bible study. - Controller
Green opposed remitting penalties on unpaid taxes
and assessments. - Representatives of the steam
ship lines consulted with tho Emigration Commits
sispers as to the care of immigrants. = Gold
I'LL 1141l, 114l4. Gold value of the legal-tender
dollar at the close, S7l2 cents Stocks dull and IL
regular, closing with gentle rally.
THE WpATiER.-The Government report predicts
cloudy and rainy weather - In this city yester-
day the day was mild but clustering; thermometer
800 400 399.
New-York tribune., 1876-03-25
omusemsnts ano meetinss Co. Night.

RooTUs THEATER-1:3O and 7:i5 Julius Cesar"
FIrTu AVENUE THEATER.-1:3O aud i: " Pidue'
iYCEuM THEATER-130 and &: "Topkuots Diem
mas" sc.
OLYMPIC TnEATER.--2 and g: Variety.
PARK THEATER.-2 and s Brass
San Francisco MINsTRIIs.-2 and ;.
ToSY PAsTOR's NEW IHEATER.- Variety.
UNION SQUARE THKATEH.-l30 ani 3 Ferreol.' x
WALLACks THEATER.-l:3O: The wonder; g: lso-
nance OF Poor Young Man"
CHIcKYHISG HAIL.: Concert. Won BulOw.
srEINwAY HALL-Symih ihany Concert. Thomas.
TwENTl SECOND REGIMENT ARMORY.-PfOneHane Con-
New-York tribune., 1876-03-25
Dnsiness Notitfs.
NOTICE.

NOTICE.
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will published about May j. No Advertisements ioi INC
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soe advertising agents for this publication
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THE PHILADELPHIA BRANCH OFFICE or lie
TpRTNF removed 7l3 Chosfnutst (od Masonic Tempe)
Subscriptions and advertisements received al tIegusr rates
TRIBUNE served by Garner IN all parts Vi c CS
New-York tribune., 1876-03-25

A bill introduced in the State Sense pro-
poses numerous changes in the organization OF
our police force. The measure is OF import
ance, and its elaborate provisions are specially
noteworthy, since they embody the 'conclu-
sions of the Legislative Committees which in
vestigated the courts and crime of this city
last wear.
New-York tribune., 1876-03-25

Still hankering after the franking privilege
the Senate has passed bill partly restoring
it. OF course there was far less discussion
over its merits than on the bill for counting
electoral votes; but both escaped material
amendment.
New-York tribune., 1876-03-25

We have already directed attention to the
decision of the Supreme Court of California in
reference to the taxation Of mortgages. As
the legislators at Trenton have been wrestling
with the same problem, and as the decision
may be taken as precedent in other States,
we present to-day the full text OF the opinions
of the Judges. Although the decision involves
a close construction of the Constitution of Cal
ifornia, it is based upon the principle that
credits cannot be taxed as property. The
logic of the mortgage tax is that debtors are
public benefactors, for the more the citizens
owe, the richer will be the State If two men
own property worth q million and one of them
sells bis share for half million, taking note
secured by a mortgage on tho whole propcrty,
there will be q million and "a half instead of
million TO be taxed. According to this de-
cision this is an Op OpTessive system of taxation.
Four of the FIVE Judges declare unequiyocally
that the taxation of mortgages as property is
illegal.
New-York tribune., 1876-03-25

The rag baby had but short and troubled life in
the arms of the Pennsylvania Democracy. In 1s7,
they would have nothing to do with the infant and
insisted that it did not belong TO them but wa,
clearly of Republican parcntagc. Their State Con.
vention at Pittsburgh passed a fatfoOted hard
money y-basis-and-spee resumption resolution. A
year later, at Erie, they changed their minds
under the influence of the delusiOn then raging
among their brethren in Ohio, and EN-.
braced the suspicious creature with rapture
To prove the fullness of their affection for it, they
went so far to reject with dersive howls propo-
stiOn to recognize coin AS a desirable basis for
paper currency. They were badly beaten in tho en
suing election. as all the world knows, and speedily
sickened Of their folly. Now at Lancaster they re-
pudiate their declarations of last year by resolving
that gold and silver the only true basis for ths
currency of the Republic and that Congress should
take such steps for the resumption Of specie pay
ments as will most surely and speedily reach that
result without destroying tho business interests of
the people," This return to sound doctrines is cer-
tainly very gratifying but what shall we think Of
the sincerity Of party that shifts its principles
every year. What claim to the confidence of men
of honest convictions can 1T have when
upon tho leading issue before the Ameri-
can people it makes an absolute change
of front twice within twenty.one months !
In June, 1874 the Pennsylvania Democrats de-
clared for hard money and speedy resumption; in
August 1875, they insisted unlimited green
backs and no resumption; in March, 1876, they
turn round again and profess anew their cast-Of
faith Of 1874. We rejoice at thi, last conversion.
but what assurance have we thai 1t Is genuine and
that they will not return to their wallow in the soft
money mire
New-York tribune., 1876-03-25

A correspondent who carried to England a
letter Of introduction from Mr.. Emerson affords
us a glimpse of George Eliot at one OF her
weekly receptions in London.
New-York tribune., 1876-03-25

Much bad blood is stirred up in the House
by the bill TO cut down members salaries
The Republicans insist that to be consistent
the bill should reduce COngressman's pay to
So, 700 instead of to $4,000. This the Demo
Gratis regard as q reductio al obsardam.
New-York tribune., 1876-03-25

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New-York tribune., 1876-03-25

Paris, where he was opposed by NJ Raoul Duvai'
the Bonapartist orator, has served to increase
his influence and widen his fame.
New-York tribune., 1876-03-25

Judge Lawrence having dissolved the injunc-
ton granted on affidavit in the suit OF the
Union Consolidated Mining Company of Ten
ncssee against its late superintendent and
others. different aspect is put upon the case
from that of the earlier reports. The defend
ants deny all the allegations of fraud brought
against them; one of them has suit against
the Company for money lent, and there seems
to be reason for suspecting that the action
brought for million of dollars greatly exag-
gerated any real claim Of the Company.
New-York tribune., 1876-03-25

Gov. Tilden's message concerning legislation
for improving the management of the canals,
contains also an important suggestion for lm-
proving the canal itself. A want of sufficient
uniform depth of water has long been one of
the chief obstacles to an increase of canal
traffic.
New-York tribune., 1876-03-25

Our Quaker neghbors in Philadelphia feel the
spell of the past little even in this Centennial year
that they hay this week razed 10 the ground per-
haps the most interesting rsc of the ancient rule OF
the Friends i'll the days when Penn exercised royal
mower This is or was quaint little building, used
by the Ouakers for a hundred and fifty years as an
almshouse. 1t has been surrounded by mas
sive blocks of business houses, until ITS
very existence has scarcely been known 10
many Philadolphians. Gabled and iyy-elad, IL
stood in the midst Of its garden of od-iashioDeu
flowers bit Of silence and solitude from the dushy
past protesting against the busy present. Ii was on
its threshold, according to Longfellow, that Evan
gcno met Gabriel after her lifelong search. Our
Quaker friends, however practical rs usual nave
lust torn down the old building TO erect block OF
warehouses, quite unmoyed by tho protests OF au-
mirers of the Acadian lovers, of antiquares VINO
delighted in the perfect specimen of early Penhsyi
yanian architecture "Tho buildings" said ono
venerable broadbrm, "will pay per cent ana II
thee sees Henry Longfellow and he mentions Evan,
gelne thee can tell him Friend named scatterpooi
told thee there never was such person'
PILGRIMS to Syracuse, on comparing notes siuoo
their return havo made up their minds that 'n'
delegation to Cincinnati cannot be counted on
to give even complimentary vote soiiu
to Mr.. Conklng. George William 'ui','
for one could hardly be asked to unite In suon
q vote, and there ore number OF Others itVn'
whom assent to it would be rs uhh.oy
There is no end Of heart-burning aoous
the choice Of delegates Laimbeer for ins'a,'o
seems to have been absolutely cheated out oil " arc
he had been fairly chosen. Isaac Dayton mas I'M
wise been in state of mind In some OF the up-'oS
districts there is such dissatisfaction win ''o
made BY the Custom-house people against 'ncli w.
men, that they talk of forming rival orssn.AU s"..
Meantime, the most significant fact abon, ,n0 ...
cation is that there are two sincere DiA'n'
New-York tribune., 1876-03-25

Headstones over soldiers graves have paid
tribute to Washington corruption, and now we
have the sorry story of trickery by which the
contract for them was given to favOrite
There is evidence that the men in power who
helped to rob the living shared also in despoil-
ing the dead.