davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09
ABOUT BONDS AND INTEREST.

"This bank money costs too much" say many
men who are sensible in other matters. They
find fault because the Government pays inter-
est on bonds deposited by the banks, while
the people also pay interest on the money
borrowed from the banks. Putting both
amounts together, as "the cost of keeping
"bank bills in circulation" these persons
fancy that this sum could all be saved if the
Government would issue greenbacks instead
of the bank notes. The misapprehensions
here involved are wonderful. Who pays this
"double interest 2" The Government pays in
terest on its bonds, but it would have 10 pay
exactly as much If the bonds were held by
anybody else. Should it compel the banks to
sell the bonds now deposited by them, il
would still be necessary to pay the very same
sum as interest 10 those who might buy the
bonds The beginning and end of that matter
is that the Government has borrowed money
from the banks and pays interest on it.
The Government needed money; the
people who organized National banks had
money and the Government borrowed from
them, gave them its bonds, and pays its in
terest for their money loaned. Not a cent
could be gained, by the Government or by
the people, II Tic DAnhb huOulu DC IOTGeu 10
retire their circulation and sell their bonds to
some other persons. The debt would still re-
man, and as long as the Government Is not dis
honest it Will still pay interest on that debt.
But the people also pay interest Precisely !;
and why mott They borrow from the banks,
and pay interest because they can gain some
thing by doing so. For example, q man wants
to buy farm, but lacks 81 900 of the capi-
tai required. lie goes TO the bank. borrows
the capital needed, pays $50 or $50 yearly,
and his land yields him a profit of 5000 or
$500 yearly. Why should he grudge the trfe
which it costs to employ the capital of othersi
Sometimes, of course, borrower does not
gain by his operation. But that is because he
does not wisely invest the capital borrowed;
perhaps he has borrowed more than he can
proftably use. If So he has only himself to
blame. If he is judicious, he will borrow only
where the use of capital not his own will ena-
BILE him to gain more than he has 10 pay for
its use.
Suppose the Government issued all the cur
rency, and the banks issued none, where
would the man who wants capital go for it
Not to the Treasury. The Government bOr-
rows, but does not lend. Necessarily, he
would go TO a money-lcnder; perhaps to the
very one who now manages National bank.
Moreover. he would pay at least as high in
terest as he pays for money borrowed from
q National bank. Nobody will go up and
down in the land lending money for nothing,
or for smaller interest, because Govern
ment has issued more greenbacks. He who
has capital will still demand pay for the use
of 1t, and be who lacks capital viii still have
to borrow it as best he can. The men who
are now national bankers will, of course, take
their capital out of that business, when they
can no longer Issue currency being ac-
quainted with the money lending business,
they will naturally become private bankers.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09
PERSONAL.

Senator Blaine is having his portrait painted
by willard, the Boston artist.
Messrs. Richard II. Dana, jr., Richard II.
Dapa, 3D. and o. W. Holmes jr are arguing case be-
fore a Maine court.
Mr.. Ira ID. Sankey, it is rumOred, will go
abroad next month. and spend the coming Winter in
England with his family.
Adile Hanun, the heroine of the late war
in Turkey Is a native OF Bagdad aud a Mohammedan by
religion She Is rich, and enthusiastically devoted to
her country and faith the yasmak veil aud is
brave as she Is fair She gave instances OF
her bravery ana endurance during the battles Ia Ar
menia
The Count de Chambord, in reply to O let
ter from the Missouri Historical Society informing him
Of the proposed celebration or tho discovery OF the Mis-
slssippl River, sent autograph letter and a gold
medal of event the society has named ITS
collection OF modern medals the Count do ChambOrd
cabinet"
Mr.. Joseph Jefferson viewed the eclipse
from tho vicinity Of Pixies Peak and writes that he shall
never forget the He also discovered photo
graphic genius In Denver young German artist named
Gohner who invented wonderful though simple
conlryance for taking instantaneous photographs OF the
sun during the eclipse"
The Rev. b. NJ. Palmer, of New-0rleans, it
Ia said rarely consents 10 take vacation, and when
pressed TO- makes his arrangements that he may get
back 10 his people before tho scy season begins. Az
ter his settlement in that city In 1887 he organized
tho young OF his church into brotherhood ~ as
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09
Jnoex 10 AopsrnsemenIs.

AnursEMlSfs- PaOe-6th column
BAsRRUPT kOTICEs-3d PACED column.
f,OARD AND ROOMs-3d PGge-5th column.
BusINEgs CHAECEs--7h Page-6th eOiunh
Business NOTICEs-4Lh PGQe-lst column
DANcfNG ACADEMIEs-6th Paqe-5th column
I,rVIDEND NOTfCEs-7M P00e-6th column
IcxcFRsIONs-3d PGge-6th oOiumn. -
EUROPEAN ADvE KTIsEaENTs- IN PG0e-Oth cOiuuih
ETSANcIAI-7M Pq0e-5th and 9th columns
FfTRNfrURg-Gh FGQe-5th column
-(sRATEs AND FENDERs-3d Pd0c-6th Column
HELP WANTGD-7h Pd0e-Oth column
1NsTRUcrION-Oth PdQe-2ds 81 ana 4th OOidhi"N
LAW sCsOOLs-6fh Pa0e-4th column.
LEGAL NOfICEs--Bth PGge-5th column.
LOS AND FOUND-6fa PaQe--5th column.
MaRnIAeRs AND DEATHs-5fh Pd0s-5th column -
MIscEILAEEOUs-3 30 Pa0s-4th column; om Fa0e-0'"
slTsIoAI lssTEUMRNrs-3d Pa0e-6th column.
NFW PUBLIC ATIONs-6M PdQe-Sd Column
PRoPOsAIs--6M PG0e-5th column, q, ,,,, .
IFAI ESTATE FOR SAIR-f'IrT-3d fd0e--zO coIu'"H
CouHTRY-3d ragged column To EAchANOE-'"
Pd0e--2d column.
SPECIAL NoTICEs-5M P0de-6th column - -,
BITUATIONs WANTED-MALEs-7h fd0e-Oth cOiuinh
FEMALE I'm laOe- 9th 90 umn - -, ..A
sgyIISRoATs AND KAnRoADs-3d Page-3d and 4th
columns
sTEaMERs OcEAN-3d PACED column.
STJAiMBR BOABD-3d Pd0e-4th hnd oth oOlulhnS
IEACHERs--GM Pa0e-4th column q, ,., rom,
10 I.ET--CITY fROPERTI-3a foQc-zu coiuHin NO'N
TRY--3d Pdgt-2d column
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

OF course, they viii sell the bonds now on
deposit ; they cannot afford to have money
drawing only A, or Az, or 8 per cent interest
when they can lend 1t MS private bankers at
or s per cent. Somebody else, perhaps IN
Europe, will draw the interest from Govern
ment. The banker, getting back his own
capital, will lend 1t as he does now, and the
man who needs it and borT0ws will pay at
least as much for it.
Who, then, will be helpedf Not the Gov
ernment; it Will pay to some holder OF Its
bonds exactly the interest which it pays to
National banker. Not the borrowers; they
will 60 to the banker for capital, as before,
and will pay him as much for it as they pay
now. Possibly the banker for he Will then
be engaged in business which no knavish
repudiator can imperil. lie will care nothing
for the credit of the Government, except as
any citizen may care. He will be lending his
own money, and will take care to get good
security. The race of mOney-lenders never
made gain as rapidly as in that age when the
Door tried to extOrt wealth by fortunes from
miserable Jews. The more harsh, unjust or
brutal the public sentiment or the laws the
higher will be the rate of interest demanded
by those who have money from those who
need it. In a country of great undeyeoped
resources and many hopeful and enterprising
borrowers, the man is public enemy, and
particularly an enemy of the borrowing class
who tries to disturb the foundations OF credit
or to impair the security of capital.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09
MR.. KEAREER'S BOLD And HEALTHY
PROTEST.D

There are bad things, of course, about what
are called "maehine politics" Machine poll
tics are especially bad when used to pack
caucuses and control conventions in the In
terests of cliaues or rings Of politicians who
use the name of a great party for trading
purposes, for the perpetuatlon of their own
power, and for sitting the genuine sentiment
of the masses who make up th9 organization.
They are bad, TOO, when they are made
instrumental in defeating the ends Of justice,
in concealing wrong, and protecting the DIS
honest and corrupt. Against this sort of ma
chine politics THE TRIBUNE has waged always
uncOmpromising war, and will continue to do
so. But its hostility to machine politics is not
of that blind and unreasoning sort that
aims at the destruction of all organiza-
ton, and the leaving the control and
direction of parties to chance. CIrcum-
stances not necessary now to detail, but
which all reading men are familiar with,
have conspired during the past six or seven
years to make this feature of our politics
tae rule Of the caucus and the dictatiOn of
rings and ciques--a very prominent topic OF
political discussion, aud TO arouse against 1t
very strong popular opposition. The course
of President Grants administration was such
as to extend and intensity this feeling, until the
election of Democratic Congress embodied
the protest and gave the leaders of the party
unmistakable notice that the dissatisfaction
was genuine and universal. Though des-
perate resort, that seemed to be the only rem
edy, and THE TRIBUNE, while 1t is thoroughly
aware of what the consequences have been in
the wild work which two Democratic
Congresses have made OF legislation, eontem-
plates its share in bringing the Republican
party to its senses with entire satisfaction.
The party has sObered down to a sense OF its
duties and responsibilities under the lessons
Of defeat.
The TRBUNE's opposition to machine poll
ties never went so far as to advocate the
breaking up Of all organization and the
adoption of the plan of helter-skelter, happy
eo-lucky, which seems to some minds TO offer
the only safe and sure escape from the eylls
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09
FRIDAY. AUGUST 8, 1873.
THE NEWS THIS MORNING.

FOREIGN. -Suleiman Pasha is shut up in the
fortress of Irebigne, Herzegovina, with 1000
Asiatic troops. - Prince Louis Napoleon is to be
married to the Princess Thyra. Of Denmark. -=
The general provisions of the proposed Franco
American treaty are published. - Prince Bis
marck and the Vatican are reported 10 have come to
terms
DoMEsrIc.-The South Carolina Republican
platform declares that it is inexpedient
TO nominate a State ticket this year.
So No serious trouble is now anticipated
IN the South Carolina revenue cases. == The
Bankers Association at Saratoga, passed resolutions
upholding resumption - The Saratoga races
were won by Inspiration, Vrginius, Charlie
GOrham and Waller. 80 The West Point grad
mates have been assigned. - Cashier COnant has
been released on bail in Boston. - The Vernon
Brothers. Paper Mill near Northampton, Mass,
was burned; loss, $112, 600 = Auditor Ella will
be q candidate for Congress in New-Hampshire.
- The Indian war in the Northwest Is practically
ended.
CRY AND SUBURBAE.-R. III. Bishop & Co. make
a complete surrender to their creditors. -= Ex-
animation was begun yesterday in the case of the
girl supposed to be Minnie AubTy. == No
further information was obtained in regard
10 the Jersey City murder == Gideon j.
Tucker accepted the National nomination for
Assoeiate Judge of the Court Of Appeals.
- Largo numbers Of people visited Coney
Island = Gold 1OOl2, 100l2. 1909. Gold
value of the legal-tender dollar at the close,
5000 cents. Stocks inactive and without feature,
closing steady.
THE Manufacturers local observations in
dictate clear or partly cloudy weather, with slight
chances of an occasional shower. Thermometer
yesterday 74o, 800, 7So.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

The Republican party dies game in South
Carolina. The scheme to recommend Gov
emor Hampton for reelection was evidently
smothered in committee, and that official must
be content with an absence of Republican OPP
position where he wanted open Republican sup
port. The convention declared that no nomi-
nations would lie made because two years OF
rifle club rdlen had made it impossible
for South Carolina Republicans to hold
meetings or to vote with safety to
themselves; and they disbanded, stoutly
reafirming all that they have ever charged
upon the shotgun Democracy. So Governor
Hampton did get an Endorsement after all,
but it was of a queer kind, and its vigor ran
the wrong way.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

of England would be brOtbers-in-iaw; to say
nothing of the King of Greece and the next Gar OF
all the Russias Meanwhile the Prince OF wales
will have TO be more crcumspect when he visits
Paris He invariably treated NJ. Theirs with eour-
tesy which was rather CALLING to the Bonapart's's
but recently he has gone far as to breakfast
with NJ Gambetta, who is now the central figure III
FIR nch politics. He may have to choose between
the Republican champion, who may become Pre'i-
dent, and the o..ssible brother-ln-law. the I'M
peral tramp Of to-day, who may have destiny--and
then again may not
Not word has been heard from Mr. Iildens
coparcener" in denial or in mitigation OF the
palpable fact that be, and none but he, must have
been the inventor of tho incremabe contingency
promised in the Gobble dispatch to the
Oregon reformers, if they would sell
vote for the candidate who would not raftle
for the Presidency. We speak in the interests OF
Colonel FELTON, who has been styled that bad young
man, Governor Tildens nephew" too long. de Is
not bad young man. He is saint, or ne would
have forced Mr. Marble to shoulder his own increma
BILE contingency long ago.
Mr.. Tilden IS reported TO spend much of his time
walking unattended and talking TO himself. II this
is true Mr. Tiden probably hears more plotting aud
completing about the next Presidency than any
other man in America. Where is his "coparcenerT
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

Persons Ioariag tOwR for the season. and Svamer
frareIlers, can hare The DAILY TRIBUNE mailed 10
them. postpaid, for 81 per month the address being
.chQpged as often as desired.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

DAILY TRIBUNE Mail Subscribers, $40 per annum.
I-WEERIY TRIBUNE Mail Subscribers, So per an.
WEEKLY TRIBUNE, Mail Subscribers, Sc per annnm
Terms. cash in advance.
UrOwn advertisers can leave for TUE TRIBUNE
aflZSe Broadway SssL 5OS W 23dst. cor SHAVE
BRANCH OFFICES OF THE TRIBUNE
NEw-YORK-No. 1 ,23S Broadway, corner Thirty
frst-st; No. sos West Twenty-thiTd-st. corner
Eighth-ave. /; No. $50 Third-ave., corner Forty
seventh-st. No. 2.3S6 FOurth-ave Harem.i
MAsHINGrON-NO. 1.335 Fist.
LONDoN-No. 20 Bedford St.. Strand.
PARIs-No. II Rue de Ia MOnnaie
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

A bad man--we know he was bad man by the
remark he made-said There is no reasoning
with this Administration except with club" He
might have said il Of street railroads without any
body's finding fault But let it be observed to the
credit Of the street railroads, that at least they
understand the argument OF the club perfectly,
and that the mere display of il brings them under
conviction Here is the Fourth Avenue Road abol-
ishing its horse-car poetry, taking down all its
placards about punching "a pink trip slip
for three-cent fare, buff trip slip for a six
cent fare and blue trip slip for eightcent fare"
and announcing that it will charge nobody
over SIX cents and children under four years moth
ing at all. Then the Third Avenue puts on a
better fashion Of open cars and takes pans TO have
the old cars clean. II these things are done in a
green tree what shall be done in dry To what
heights of fairness and decency may not the street
railroads attain, when the elevated road on the
East Side actually gets to runningi
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

The urchin who received once upon time the
sensational baptism Of fire Is now TO have "Sea
Kings third daughter from over the sea-" That is
to say, according to one report Prince Louis Napo
leon is TO marry PrnAss Thyra, the daughter Of
Christian TX. of Denmark, and according to
another he Is not. II Republicanism in
France goes TO pieces and Third Empire is
established, this would be o very nice family
alliance for tho Emperor OF the French aud the King
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

The general discussion of the maneuvre
which has come to be known as the battle of
Lookout Mountain, recently started by stray
remark Of General Grants, gives interest to a
narrative of the affair, printed on another
page. This is by a competent and careful eye
witness of the engagement, who sustains Gen
eral Grants epigram.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09
9uslness Monies.

WHAT SHALL WE Do WITH OUR FIvE-TwEN-
uRsl
The rapid calling in Of the FveTwenties Of 1855 by the
Government and the fact FveTwentes Of 1857 OF
which there are over three hundred millions outstanding in
the hands Of investors come order is causing gen
oral inquiry among holders Of these bonds as to which
sue Of Government Securities they shall select making an
exchange while they realize the present premium
The desirable the Fours" -Four
anohalfs" Fives" "Ten-Fores" skies Of 1881 (sec
Ond and third series) and Currency skies"
In addition to this from holders Of Fiver|enties
there large demand from new widespread
than for many years
We therefore naturally look fer gradual advance IN the
prices Of the issues which most desirable
We have just published the fifth edition OF our MEMO
RAMA CoScxRsNo GOVERNMENT BONDS" DESIGNED to onswer
all questions in regard to these securities and TO give full in
formation intending investors copies Of which can be hal
ON application at Office
FISK & HATCH,
BASKERs AND DEALERS IN GOVERNMENT BONDS
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

of the five hundred men, nowadays, thab Ihe
courage to make such remark is worth no.
ticing
In general the provisions of the proposed
Franco American treaty are based on reel
procity, and would tend to simplify our com
mercial relations with the French Republic.
The proposed revision of the duties on French
products contains, however, the germ OF the
treaty, and must form the principal suo)ecC
for consideration. In the absence OF details
as to the contemplated schedule, the scope Oh
this clause cannot, of course, be estimated
In Michigan, too, the sudden prosperity OF
the Nationals makes the next election some
thing of a cOnundrum. The Republicans can
hardly fail to elect their ticket in state
where they have always had majoritles' but
the prophet whose utterances are recorded
elsewhere does not venture on any predlctOnS'
even of a Republican victory. There If one
SIGN of success, however, in the fact that Mr.
Chandler who has certainly never been ac-
cused of lack of energy, is at the head OF
the Republican organization. To use the words
which our correspondent quotes. "when Mr.
"Chandler gets hold of the party crank, the
"old machine has to go or get smashed"
Gideon ]. Tucker must be one Of the best
of his party-which is a hard thing to say
about the party. If any other greenback adj
vOcate had been given the chance to write
letter of acceptance, it Is safe to say that the
newspaper does not exist which could contain
it. The National party believes in plenty OF
words as well as plenty of money, and there
never was such party before. take it alto
gether, for uninterrupted gable. But Mr.
Tucker, being offered nomination, says
simply that he has received the communica-
tiOn, that he accepts the place on the ticket,
and returns thanks for the high honor con-
"ferred." Mr. Tucker is an old politician.
and knows when a nomination isn't worth the
cost of q little ink.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

Secretary Sherman has been talking sense
about the paterDal plan of bringing better
times He reminds the people who want the
Government to spend millions of dollars on
forts and pubic buildings and river and har-
Dor improvements, that such a scheme of
folly would not afford even temporary relief
10 zone man in Eve hundred who needs
york. But the average politician is so afraid
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

Prince Bismarck is now represented to favor
the German ecclesiastical laws, but to be
willing to foregO their enforcement. If this
be the case, the Vatican. which always prefers
the substance to the shadow, is likely to come
to terms with the German Chancellor. AS the
Faik laws give Uinbrage to all denOmina-
tions, the Princes proposal may fOreshadow
religious peace throughout the Empire.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

Is Mayor Ely smitten, tool He closes. in
this way, his letter to one Of the working
mems leaders who had asked permission to
hold open-air mass-meetings during the cam
paign: " | believe that such meetings of work
"ipemen for the discussion of questions so
" vital to their interests those your party are
" agitating cannot but be productive of good"
That depends, Mr.. Mayor, upon the spirit IN
which the wOrkingmen approach those sub
iects, and the methods by which relief is
sought. These agtators have the same right
of free speech and peaceable assemblage as
other people. but if they propose an assault on
the rights of property and the National credit
and it is to be feared that they dot would
be Just as well for Mayors who may be candi-
dates for reelection not to encourage them.
There may be few votes to be gained by
that operation, but there are a good many to
be lost.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

The Porte's order to admit the Austrians
peaceably into Bosnia ought to render the
occupation of that Province comparatively
easy, although the insurgents appear to
acknowledge no higher authority than them
selves. The overwhelming force in which the
Austrians are advancing is, after, all the best
guarantee that the Province which precipitated
the last Russell Turkish conflict will be recon.
structed peaeeably.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

DoN'T GO in the country without good
supply Of bo1s Shoes CATERS bathing and nda rub
beers and place in New York 70 obtain them Is al
MILLER q Co =. $40 Broadway, Domestic Bnlldlng,
TRIBUNE EXTRA No 40. now ready, con-
far among other things AnOds Illustrated Lee
ture Photography the latest gift OF science sent 70 any
address, post paid receipt OF lOeens TIE TRIBUNE Nov"
York.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

of the five hundred men, nowadays, that the
courage to make such a remark is worth no
ticinR
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

General Ewing's speech in Ohio takes him
half out of the Democratic party and half
into the National party. He is Democrat IN
Ohio; in New York he would be National.
This is certainly fair construction of his re-
mark that he has not a word to say against
the greenback movement Gin those States
where the Democratic organization is
in the fist of the money power" But
it is evident that he does not propose
to GO any further. at present He hopes
to convert the Democratic party to
Nationalism. and cOngratulates himself that so
large a part of the work is already accom-
plshed. "In almost every State" he says,
"from Pennsylvania southwark to the Gulf,
"and westward to the Pacific, the Democracy
islands firmly and practically united upon the
platform of opposition to the mOney-power."
General Ewings claim is, for a wonder not
in the least exaggerated. 1t may serve to
remind Eastern Democrats of the rapidity
with which the whole organization seems to
be travelling toward the ideas recently pro-
mulgated at Syracuse.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-09

BANKERS AND DEALERS IN Government BONDS,
No z nJassan Of Nav York ont,