The new Northwest. [volume] (Portland, Or.) 1871-1887, 1879-12-04
LETTER FROM NEW YORK.
-FRoM OUR REeuLAR CORRESPONDENT.
NEw YoRK, November no. 81.


The speculative fever that has been
affecting business and trades Of almost
every kind within the month or so past
is giving place to more settled, and
therefore more healthy, condition Of
things. Not only is there a healthy
pause in the Wall street BOOM" but
also 10 breadstufis, provisions, iron,
some descriptions Of groceries, and other
staple commodities, with more or less
shading of values. The Wall street
craze at one time threatened to draw
into the maelstrom Of speculation almost
everybody that had moneyto lose,while
the clique manipulation Of exportable
merchandise sent prices up so high as
to well-nigh arrest the shipping move
ment altogether. The reaction is not
violent, but it is real, and its effects on
general trade, as well as upon the public
mind, is wholesome. IL is quite possi-
bic that there will be further advance
in prices all along the line, but it is not
in the interest Of regular trade that it
should be so rapid as has already been
witnessed. In progressing toward our
formal national prosperity, it is Of the
first Importance that We should retain
the ground We have recovered, and not
drift back to the slough Of despond,"
and to that end the best way is "slow
aud sure"
Brave old Zach Chambers death made
a profound sensation here, and, coming
just as it did, on the eve Of the triumph
he had done so much to achieve, it
placed the practical, hard-headed old
political campaigner, for the first time
in his life, in a dramatic situation. His
retort on Ben Hill, in replying TO the
latter's States rights view, was quoted
and laughed over a good deal in the
Union League Club and about town.
You will doubtless remember that he
asked the Georgia Senator if he were
east on an Algerian coast, which flag he
would hoist for protection, the stars and
stripes or the State flag Of Georgia.
States rights, though, is a question
which the forty millions Of people in
the United States will settle forever and
aye il it makes itself again Extensively
obtrusive. The lack Of equality Of rep
.resentation in Congress Of the States at
large is a matter which is Of far more
immediate interest to those States
which will be affected by a change in
our system. It does seem a blind obe-
dience to the dictim OF our fathers, al
most to the pitch of absuriity, that a
flshing-coast like Maine, little peach
patches like New Jersey and Delaware,
and mining camp like Nevada, should
be represented in the Senate by two
Senators, the same as States OF vast
population and commanding resources,
such as New York, Pennsylvania, Ohio,
Illinois, and-well Georgia, Mr.. Hill.
That elegant side-whiskered gentle
man, Clarkson Potter, who was the
great investigator, smiles as he never
did before, and shows to even the casual
observer that he regards himself as a
possible candidate in 1850. Every body,
however, has heard about New York's
and Indiana's claims, aud one more line
on that subject would be an hour long.
The Epson gold cup, won by Loril-
lards celebrated horse Parole at Epson,
England, on May SOth last, which had
been detained at the custom house
since its arrival, has just been released
on payment OF the duty. The cup was
entered by invoice, aud was valued at
g. 500 The duty charged on it was
forty per cent. Mr.. LOrillard's agent
had written to the authorities at Wash
ington, asking that the cup be passed
free Of duty. The request was refused,
as the authorities could not see how il
was entitled to free entry. AS a piece
Of manufactured silver, it was dutiable
at the above rates. Mr.. Lorillard will
try to get back the 81 900 duty, on tn,
ground that the cup is, in the proper
sense Of the word, memorial, and, a,
such, like prize medals, is entitled t.
free entry.
The ex-boss, Kelly, is now on tina
slippery incline called the descent t
Averuus, and it seems unlikely that hi
pig-headed egotism and mulish vanity
can get him out of the hole he has sli,
into. Tammany lost the shrievalty
county clerkship, and three coroners
thus barely saving a part Of the iufu
ence which was once entirely its own
1t is in the power Of the Republicans t
crush Kelly whenever they choose, b,
leaving him entirely out in the cold
and giving the Democrats the opportu
nifty to kick him out for good and all
squelch his personal influence, and cal
hack into the fold the Tammanyite
who choose to disown him. I hay
heard hundreds Of people on the street
talking Know -Nothingism, not fror
any sympathy with the former move
ment in that line, but because Of IN
incubus riding New York City in th
shape Of organized foreign adventurer'
arrogantly capturing a city for th
spoils Of office. AUGUST.
An old lady, seeing a sign over th
door Of an umbrella shop, "l m brella