The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-11-16

Trade. and there appeared to be no conflict OF
testimony as to the fact that the contested
notes were given in the "Option' settlement,
md the only question before the court was the
validity of the notes madeor Endorsed for such
n n,,rp0ge The criminal code Of Illinois I'M
noses a fine that may range from $40 to
$1,000 for dealing in "options' or gambling
contracts, and renders void oil contracts,
notes. bills, or other securities, the whole or
any part of the consideration for which arises
from u gambling transaction. In deciding
the point, Judge McAllstcr said: "Perceiving
no reason why this species Of gambling,
though wearing the more respectable aspect
OF business, should be looked upon with any
less disfavor by the courts than any other
species, am constrained by the facts OF the
case to sustain the defense" The judge held,
further, that it was immateral whether the
plaintiffs were innocent holders" or not, the
tho paper being made absolutely worthless
by the statute,
Rev. Henry Ward Beecher recently re-
ceved o letter from Tom Green county,
Texas, signed III. G. b. in which the writer
says: "Nearly two years ago l wrote TO you
saying that God had sent me to you for $3.50;
I have not yet heard from you. ~rd,, 0 and
God viii reward you" TO this Mr.. Beecherr
replied as follows: SIN reply to your letter OF
November g. ] will say that await the proper
commercial documents any araac wy n 1,,,aii
esteem it an honor to meet promptly. AS
yet have not been notified by the alleged
drawer nor has any draft been presented
through tho regular channels. 1t may be
worthy of inquiry where the hindranco or
| mistake lies iuasmuch as / receive hundreds
of letters like yours informing, me OF the
Lords will, but without the Lords signature
and without authentic commercial paper.
The Chicago Tribune of the twelfth Instant
says:
The grain traffic exhibited q marked falling
off last month, and the result. therefore, is
diminished earnings with such roads as the
Chicago, Milwaukee, and st. Paul, chicago
and Northwestern, and the Illinois Central
lines; Wabash alone holding. its own, with a
slight increase The Canada roads Grand
Trunk and Great WESTERN likewise show q
decline. On the other hand, nearly all the
Southwestern lines, such as the Kansas "a
ellie, Missouri, Kansas and Texas, st. Louis
Iron Mountain and Southern, and Atch1se n,
Topeka and Santa Fe, make better exhibit,
the increase in some instances beng 1ulte
marked Central Pacific likewise Is on the
right side of the account. The prevalence OF
yellow fever throughout thu month, south OF
Memphis to the Gulf, must DO taken into con
sideration in comparing with the correspond
: as have connections in that quarter. NOW,
that quarantine restrictions upon traffic and
; travel nre removed, a decided improvement
throughout the current month may reason
| ably be anticipated. Turning to the gross
| earnings from January TO date the result Is
far from discouragng. With an excess Of
earnings Of upwards Of $5,500,Oo0 over ocio
: Der, 1877, the progress to something like Old
time prosperity with the railroads Is as un
= mistakable as it is gratifying.
BrsrNEss ON A GOLD BAsIs-Now thai
United States legal tender notes are practlc;aiaI
/ ]y at par with gold, and that there Is no oil
q ence between gold and the paper currency IL
. nee there is no obstacle in the way Of quoting
goods and commodities In gold. It is tru
p that so long, as the parity remains rem 1t WI
not. 1t is equally true that 1t will now COS
{, o nothing to do it; but, while there may be NJ
% present advantage in it, there will certainly
10 come a time, il the laws respecting silver ar
70 unchanged, when the advantages, OF uslns
70 the money Of the commercial world will b
70 clearly apparent. IF the Cotton Exchange
y, NJ the Produce Exchange and the minor trad
N exchanges will begin to specifically quote on!
=, y members, it will be q great help toward tn
"a establishment Of @ gold currency lt Woul
also make it easier for the banks to thro!
r their influence on the same SIDE Should tn
u at discount when the difference between tn
II gold and the silver dollar Ia made practlcal
70 apparent, instead of gold being quoted ct
T. premium, the trade Of the country would
\. largely protected against the worst possditb
II effects Of the demonstration of silver. I'll
I'd for the interest of all in trade and for ever
le one down to those who work for wages tl't
h. the gold par shall be maintained, and Tia
= every form of currency shall be measured
N it, and that the inferior kind shall be quote
10 at discount. The present is an opportu1
NJ time for merchants ard bankers to consldt
-, ~ this subject and to take action upon IT'D
- Y.Post.
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