New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-01-12
escaped this owl ct least. even though they have
other causes of dissatisfaction.

The Iroquois Club of Chicago, the Joy and pride
of the Democracy Of tho Northwest, has just been
passing lot Of preambles and resolutions begin
ming Opposition to Capitalization" By so doing
the club has obviously laid itself liable to be sued
for infringement OF patent by Senator Bayard.
Anybody who knows anything Of the Senator Is
aware that he claims the phrase Opposition to
Capitalization his own all rights reserved. We
shouldn't be surprised if he demanded $50,
damages from the club.
The new plan of clearing stocks, which seems thus
far to work quite satisfactorily, will have an i'm
portant influence upon the operation of the banks
and upon the volume of bank exchanges. Ii 1T
succeeds so that the greater number of traders in
the Exchange effect their settlements by means of
the clearance certificates, one result will be that
the banks will be called upon to certify checks for
much smaller amounts than hitherto. Thus the
connection between tine Exchange and those banks
which are still required to observe the National
Banking law will become much less liable to obJec-
ton. The volume of exchanges will be greatly
diminished because payments will be required only
for balances, which may be due at the close of
days trading, aud probably amounting to less than
one-twenteth of the market value OF securities sold
during the day. Thus far the experiment has been
confined to two stocks the New-York Central and
the Union Pacific. but it has worked 80 well in the
main that about 800 brokers have signed the agree
ment to make their exchanges by this plan, and
other stocks are presently to be added.
If the advice Of Mr.. A. A. Hopkins be taken, the
Prohibtionsts will nominate tickets in every
town of this State TO be voted for at the spring
elections. Mr.. Hopkins for Governor on the
Prohibition ticket in 1892 He is one of those
temperance people who endeavor to commend
temperance in drinking by intemperance in
politics. An apostle Of moderation, he lets his
immoderation be known unto all men.
"The Southern Confederacy is in the saddle
again. Geographically shouted an enthusiastic edi-
tor when Mr. Carlisle elected Speaker. The first
characteristic fruit of this chance we have In the
passage Of Mr. Reagan's Interstate Commerce bill.
Mr. REAGAN it will be rememt ered was the Post
General of the defunct Confederacy If there
was any appliance of modern civilization which the
Confederacy had reason to hate more than another,
it was the modern railroad, which transported troops
and munitions with rapidity previously unknown.
Mr. Reagan seems to have retained his pardonable
antpathy to the modern railroad and supposes that
the first fruits of Democratic victory should be
punitiye raid on the institutions which have so
afflicted his soul In the Southern States, where
railroads arc little known, and their advantages
have been but little realized by many Of the people,
Mr. Reagan's notions of legislation are likely to be
popular.
Ono of tho correspondents writes to Philadel-
phia ne wsDaper. you must take my opinions about
the Cleveland Cabinet for what they are worth"
This is the first timo since the landing of Columbus
that a newspaper man was ever known TO lnsiDh-
ate that his forecast Of Presidents Cabinet was
not clothed with tho conclusveness OF an axiom.
The incident has cast gloom over the journalism
OF Pennsylvania.
The Ne1r- York Uorld has been sternly demanding
that the Cleveland Inauguration ceremonies should
be characterized by severe simplicity. But word
comes from Washington that Il, 900 tickets at %
ticket have been issued for the frivolous amuse-
ment known as the Inauguration ball That is to
say, the new and improvedera ofDemocracy is to be
introduced by an expenditure of 100000 upon the
light fantastic toe. VIII not MantOn Marble or
some one oblige The World by ringing the
alarm bell, and ringing it loudf