Year: 1873

e" New YORK, October 70.


PROBABILITIES OF SPECIE PAYMENTS.


The fall in gold, and the probability that
the market must still further decline under
the large shipments which have but begun
from England to this country, warrant the
belief that par will be reached before Con.
gress meets in its ordinary course. For the
first time since the disappearance of the pre-.
cious metals iD 1861, it seems possible to
restore coin to its proper place in the circu-
lating medium of the country. The circula'
ting medium does not now seem to be ex-
cessive. We have only to keep it at its
present amount; allow values gradually to
settle themselves to its measure and take
steps to improve the medium itself. TO i'm
prove the medium it is not necessary either
to lessen or to add to it. 1t must neither be
contracted nor expanded. 1t must be held
firmly at the present point, and gradual
substitution of coin for currency be made as
fast as gold appears in circulation at par; a
permanent place must be made for it in the
circulating medium, by a retirement Of an
equal amount of paper. The guage of this
transfer will be the price of money when it
rises above seven per cent. in the financial
centres, the process mast be stopped. When
1T falls below this amount, it may be always
safely resumed without any change in val
ues ... .


The chief element in this process of sub
stituting of coin is, the sum Of specie now
here, or which may be hoped for. In the
course of the coming year. 1t is indeed q
strange anomaly, that this country--the new
Eldorado of the world-the great producer
of the metals which the universal experience
of mankind has chosen as the standard Of
value, should be the only country where
these metals are disregarded and cried down
as relics of barharism, unworthy Of our age.
Yet so long as we make part Of the Gnan.
cial world, we must, in some form, accom-
modate ourselves to the standard Of value in
general use. .


MAGNIFICENT IN THE HOTEL


LINE.


The Windsor Hotel, situated OH Fifth
Avenue, corner of 46th street, is undoubted.
ly the largest, finest and most complete hotel
in the world. The architectural design and
external appearance surpass in beauty.
anything ever yet attempted in hotel build
ing, in this country. Upon entering the
grand hall, by the main entrance on Fifth
Avenue, the visitor is struck BY its extent
and magnincenoe. The splendor Of this
grand entrance hall prepares the visitor for
the sumptuousness Of the upper floors. The
ladies' corridor and drawing rooms on the
story above, are models Of elegance, the ar
chitectural arrangements being n keeping
with the details of the cabinet and other
work. Now that the visitor is fairly in the
hotel, the thing that most attracts his be-
wildered gaze is the unique and and deli
cate finish of the fresco work-the ceilings
of the staircases, as well as the parlors, being
painted in the most beautiful designs. The
cost of this elaborate .frescoing alone was
$35, 900, and it is safe to assert that no such
artistic display, on so grand scale, has ever
been attempted on this continent. Nothing,
vet seen in the industrial exhibitions of any
country, has surpassed the cabinet work Of
this hotel. Like the fescoing and other
matters, there are no glaring colors, heavy
mouldings, or startling creations about the
work, but studied unity Of all with the
various surroundings. Tho scientific, as
we'll as the art visitor, will find much food
for thought in examining the various speci-
mems OF foreign and domestic woods, which
are used in the decorations, some of them
being almost unknown in this country
Throughout this hotel from the lower floors
to the uppermost story, the furniture IS
eqally rich and costly-absolute comfort be-
ing the first consideration chairs being
found in all the bedrooms, and there is moth
ing which ladies and gentlemen expect to
find in their own homes, that is not at thoir
disposal at the Windsor. The gas fixtures
have been manufactured expressly for this
house. Paris and Brussels have long been
noted for this branch Of manufacture; but
here We have examples of what American
skill can produce, which is far superior to
anything ever seen in those capitals. Brass
work has certainly reached high degree of
perfection in this country, when such splen'
did chandeliers and pendants can be made,
as are found in this building The gilt,
bronze, and enameled work are study in
themselves. A novel idea has also been put
in practical working at the ladies' entrance
on Fifth Avenue. Ladies covered with
dust from travel or walking often object to
seeing their friends in the drawing or sitting
rooms, and elegant apartments have therefore
been appropriated for their requirements
where they can await the arrival of their
friends staying at the Hotel. This room is
contiguous to the entrance porch, and ladies
will therefore have all the privacy they need.
There are four grand stair cases, which lead
from the groupd to the ladies floor. In ad'
dition to this ample means Of cOmmunica'
ton, is handsome elevator, the most sump-
tuous of its kind ever manufactured. The
doors and ceilings are Of engraved plate