Newspaper of The New York Herald, February 20, 1867, Page 5

Newspaper of The New York Herald dated February 20, 1867 Page 5
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THE NATttMAl fWAKCES. m present fleaaclei oeodlUoc of (Km ?o ?ptry || earh MM n *e treads the Mti?M etieeuee of |?7 Otnaea, IB vail to every eredltor of the (orentMW t, ?bread er u home. In epproecuiug th'a tot Dm parpoae or throwing opos it whatever II/at wo May, bower er feeble Mil lndUt ri'V wo wo evirated by M ttttr motive thee a sincere and patriots* desire to e? ptoe the tratb, the whole truth and *</-h'eg but the towth, ao far ae wb may bo ahio ae to do. IT ib* mom oat mtj auiponslou of tho law of grat Italics weald prodi e The wreck of matter and tho crei h ot worlds M trust wo ohaP not bo regar dod oa bnduglr.g tn hvper halo whoa wo eay, that a diygged portisteece ta vii lat-ag all known lawi of political economy la tho management if our national flnancea, wiU produce the unirorool Wrack of every Industrial tateroat of tho nail >o, and oo Maali tho laboring oIomii of thla country aa to aoorawa ?U aeutiraente of patriotism, and bring oa a criola that wwald poaalbly Involve tho very fhte of the government ttaelf. Wo speak advloedly. We know it to suspected hg loading membara of Congroaa that there io o po'ltloal ?aweplrmcy at work, with a view to bring about fit on ?M1 dis'.reea, diaaator and rutn, for parttoaa parpoeoo, wharg ing tho aamo to the now dominant t'nion party, ?WWamtd iho general wreck to inotal the administration In power with all li?robeiik>uo affllioUona. It is on established rule In tho practice of tho low of Www. with a gale constantly increasing la violence, without aay chango in Its direction, that whatever lb# MagtecUvs oowso and velocity of tho ship or tho storm May bo, tho reauliaat Is a direct approach of the "hip and the centre of the storm to each other; and If there ho no cbpiwe In the course or velocity oi either, the ship will ho plunged headlong Into the vortex and perhaps laol. Under oooh circumstances tho prudent end Intellt gNt seaman will not hesitate an instant to change tho ?euno ol his ship, knowing that any change must be for the better, and, if ihc change bo timely, thet It wtll'ee M safety. Lot oa thou Imitate the prudence of the Tbe Secretary of the Treasury in his report used thle Imguage:?"Strong as la hie" conviction" that we hnvo Me for aotne time, and , and atill are, moving in the wrutw ?Ueetiuii, and that nauoii of our prosperity ia unreal and WellahiOL his confidence In the ability of the country to Boht Itself speedily Is nnahaken." klgbt iieelf I How i the country right Itself T If the ship ia beinc steered kaadiong into the vortex of s storm, under all sail, how ?an It r.ght itself f la It not the duty of the Secretary to ahnnge the oonrae of the ahip at once, or to advise Con i ao that they may aeiae the balm and do what m'.st a be done f And yet, In the faoe of this assertion i Secretary thinks, indued he is ooetldent, ibat if cer o '?remedies" pointed oat by blm ere adopted ?? can nn> specie payments wit bin two years. With the wt possible deference to him, we ere bonnd to ox i oar belief that this Is the moet prepoaerous idea promulgated by the flnanciafi minister of SDy nation. The "remedies" pointed out by him are Are in number, as follows:?first, The par redemption of the nailonal bank circulation M the mnney centre; second, The curtailment sf the currency; third, the revleiou of our ux laws foertb, the issue of five nor cent bonds, principal and Interest payable abroad, In place of lbs six per cent beads now held there; fifth, the rehabilitation of the Southern States. With regard to these remedies we will pemerk that in our Judgment the first Is of no practical Importance whatever to check the disastrous tendency: the second I- Impossible to any material extent; tho fihird, though the most important of all, Is utterly Inad 2R ,te to the purpose; the fourth is puerile, and the a question of political philosophy rather tban of We have for some time past looked anxiously to eeo MM measures suggested by Congress, sinoo it would ?asm vain to look to the executive department of tho heveroment, and we have boon very mncb gratified bv Ma able and statesmanlike speech of the Hon. Mr. Kef lay, of Pennsylvania, in the House of Representatives. Apart from a tons of rancor that rathor detracts from fibs tolly style of tho speech, and which may peihips ho dharpeable to persona! affront, or, what Is more likely, fio n keen, deep and indignant sense of tbe suicidal maii i of our finances, It ia the ablest effort that we have seen emanate from eltberthonss for many a day. We have not apace is devote to such a notice of tti apace is devote to such a notice or tho sol points of the speech as 1 we would wish, hut w ll t ourselves with saying that the honorable gen t Jn?tly condemned the whole policy of contract tbe volumo of the current at pre?-nt and while the Sirs of funding la going on, and that he also con led what svugr sensible and PrssUcol nan shwld enfn?toe placing of Inch enormous power 111 the iwnwisry ui iriw i ssanrs,, and has been p< tds of any one man as that which Is now vested in Aseretary of the Treasury; a power which he may jts "useless, widespread and dan eOnree which the Secretary Is pursuing seems to be briefly 1: tbe contracting of the legal tender oirculntlon by a fbw milffons per month; the conversion of the mntnr lm indebteduese into loug gold bearing bonds as faef as snrid for conversion, and the selling of gold from ttmo fio time, together with tbe holding of what remains In fika Treasury m t/rrorm over the head* of the commercial nemm unity, with s view to depress the premiums on aeid or to state It more oorrectly, to inflate tbe value of Bt Irredeeroabts paper cnrrency to a point tar beyond IB natural value, we are ready enough to admit that fib# general sentiment of the ootnmuulty favors a low ?namtuna en gold; bnt If public sentiment has strayed ante devious end dangerous paths It Is the high offloe of fibs statesman to aetTt right and land It back to safety. salable end inexorable lew Is not to be controlled by pUbtlc sentiment. We are also aware that there is a very ml opinion, vague and undefined, that tbe country 1 go through some terrible crista or other before " 1 payments. Hera again we think public swkaioala wrung. We do not see why n nation produc r *0 largely of theMMBd M ' " M ft so largely of the precious metals need be subjected amy serious tneonvsaiancs, much leas to any distress, b do not regard the application of the thumb screw or fibs administering of drastic purges as very promotive of Wealth to a convalescent patient. We suppose that such fisnatmeat may toll, and are quite certain that It cannot ?ova. with a refinement of cruelty that merits univer sal condemnation the country is now being subjected to fiMs spsciee of charlatanry?this proasns of venesoc ttsm, which la not merely useless; It Is Infinitely worse then useless, far 00 far from approaoblng n resumption Of spools payments, tho country is further and further Anas tho desirable consummation every day, seoording fin the admissions of the Baoretary himself. Let ws see if we can throw any light apaa this floanetal problem which so fhr transcends all other problems In Its Baronaaee that M Is supreme fife will stats at the outset that the ourrsacy of the Hatted Bates is on Irredeemable paper currency, pos ?matag aa iotrtnots value Wa suppoaa U>nt the total Minimis and dspsstta ameaat to about 1,MO,000,MO ?nsreecy dot tare We shall ssssrm also what is not mrw, wo beltsv?, seriously dmpoted, that deposits are tauellcaHy curreuev, so that the reel amount of the cur ianey of the country la oirculntlon piut deposits. A brief ?lamina of this point will audio*. If A parch aeon of B ha gives In paymant n check drawn attains! IB deposit account m the bank. B immediately deposits j perhaps In the saaoe hank, to his" own oc tal, er if net, ha denotata It la some other bank, sad Ma shack is exchanged next day at the Clearing House ffisw hers is* transaction of exchange efieoted entirely kp dspoaita?by tha tnaafsr of a deposit from one indl uidaal aosount to aaather Individual aooooat la the same beak or some other beak. No currency was assd In tho fimaaaetioo. The check was ourrsacy for the time being, ?hi as the check represented deposits so dspoaita become I 4sy business man wUl understand this. The | bads' of widi street wUl have observed how large a Ltaa of the earreaoy has been esmpesid of certified l ether checks. And seta the geld certificates of de an* be regarded as currency to the extant of BwSr fees, plus the premium on gold. Phase deposits sad rtreulaitea, then, Will bo used sMOet ?ar domestic oommerotal exchanges. And, as banks fiMonr little or no roeponskbtllty in putting out their notes, IBs ehrcslatiea and denotata will all, or nearly all be aasd for tho purpose. We am* except, of course, the > of the astioasl baakn Ws asy that banks Incur little or ao iespoa*bUlty. It is true | 'clr I beaks assy tail, but, notwithstanding lb la, their dten te secure, sad by fhiiure they caanot inflict ddamMa eaMrlsg sa tha earn a unity, We are hi ?any beak-J I paper money oasnot vanish I The banks eannH 1 snnnot snspend, be l The paper money amsn* go abroad, no matter hew largo the Importations; B adM set be hoarded ibr say length of time, no matter what political alarms may exist. It is true that there Boa boon some shrewd practice lately in sealing up legal Balis*, bat somebody loess tho interest thereon, and it ~ sals te a jteasse of speculation of short da I te amount to 1 end dspsstta, wo will observe _j the re* wains or ishdlva pries of dona sella products I a* changed, except la eaaooqaeaco of aa over supply fesM* the exchange. If industry la prosperous ?day's BMW wUl gtvw the tabertag ma a IIvtan " he can find gJVSr sSars wy~ or eipan-lon of tbs cnrrency. 1???Id he eflbctad by >700,000,000 well aa by |1,000,000,000 ourreoey. And __ dtaeted by >1,100.000,000 00 well m by OM It to trae that there will be fluctuations be avoided, be eeitsatiy is by the vary law of lts| eurremv, and It would 1 rot (Im iDOiottloiiP. lo itfirol (_ Imied th* the elraalauoa sad depmtta era I earrsaey. and, ooaeaquendy, may be truly ?aMl ally earrsaey, and, concequently, may be truly Imsrded aa tha staoatauag eapitai or the not km. Mow. Ms gsrsrnmaat eaa and dues inks, In the shape of ^^^m inu to a certain per oentum of I I During the pa* Hfi.dfiM* of earrsaey la taxes, or forty per centum th# store let tag capital. It wastee mncb. The people Ma* sad use swab taiaUea anions tbs industry of the he km ta a fiearisMag eeadlttos. But >t us th* me < " i ksFSiSSi : zT'r-i.rrr!"' ~ ftsx IRSais'?? ?32t2 ??>? by this ? bp, Ms I wweid < adhsrnd V maahtaas'wlii be Ma MOT HMW af BO aa emoh mtai' esshanged, er, te state ear prepesttloa as IsmaMmHy, ws sOaald my th* th# hardsa of wxaloa m sum ts ahi dearassm la taearm proportion to the dhBaof the asdms of tabor, leher being tbe mly ?jams of waaMk. ItBf ee*fy be sssM, tbsa, tm^ mmtnm of '*4 .miry. It aanld C*' Ml SB nB*?- t verf fo?! ?e has* '*** HiWiri fuaw thai ta* C">*nim?alci.o inks a mats c?at i? at tbaaCkafeU ??g-u*tm*i v{ ihu &* Mill* ?? Um end ?j iom as the T.agal Tat. Art art MWMias oasapeatwd th* p*p-f dollars. though tl -? mi ha o*!y a . nh flftv cnta will ba M *v?il?t>:* far u,? agiKia M lb* dabi a* if Okay vara raal Uullan*. I . '...aa, U.* cMvitMiBg casual bo rwductd by a con ? c of tb? MMRR th* receipt* '"rom taiw will b? '?i cad, aa matter hoar prospermia the condition of tha oeulrr mar Se If lb* err listing capital ba kayt M fl VX> two 00a, ?? i mdmtry hi ? ? . pe . ???, tha yavpia mm p?y to: ty pre eeatam hi taxe*, or <*.0. If t ? a rlro-,?I Of apilal 1* reduced la $700,000,000, m -i Mm trv ta tha aaata ec ? tin a of pr.aperity, tb < people eau atiM |<ay forty farce turn of tha cirimlotin? S|Ml?4 ?? haai bu. >o ?? case R v. :i am?uni to aaiy |J*> W.**' 8 >t tha tad-sry M tha country to not prosperous?It W p ra'a-i Tha ntait a of our Industry ato bain* MMRMMffta anchor, the puW c rovin ie* are festi t diirnr'.'>?* dav by day: publ c credit ut being ataadi'T aadanntart aau destroyed fey tba gradual trans fer of oar feondu to a-'taa people. Tba indu*'t#sl does-a are t? ?>- ??1 ??' raaylorioeul sn4 . Mtgrd to tell tha tot irMtaa of tha go* ?raa ?tt that they lava, and for tha praaer-wx* of afcxsfe th*y ?a?a wui.n* to lav dor n Ui-ir ttva* IT aead bad been Tha ?wurlt.aa bava goae, and aro going, into the ban !a of alien I-aopia, and. wo re<rat to aay it. ana aa*ir aa, tha pm,f<;cu of whose labor w* feara Wn nowprhed to ooM'im*. Why, bra, ta oar tt .l i-trv pr.?-irated' Tha money value of the eoraawey ta -v-esatvw Thla ta the reason ? tha only rssi.'S. *# aay tha money value of the cur rency, mm-shw Intr asl-ally It hw no valtia, and It value aa a currency a led" alaj by the r ?e and fall of tha pn mi.? <?a gold Tlia mo.iev aalua of tho currency, than, muit be ? ?ntrao ad How can thia t>* donef It eon ba doo? n |.po?iriN- tha debt fur dad) fey curtail ng the voi iru.'of U?e c jrrvo.-v or raffing the drrulailon, but tlala eaarattoa aal.l alao ba reducing the volume of tha citetUattng <a? of the nation, aud mil oonFO q len'ly redaea the rat pu ftnm tares. Thla to not deal n.ble. Wa do nut rrtob t? reduce the receipt a frpm U\e>; wa wtoh to r dat the b rdea of taration if poa aibla?b it, above alt, wa wi?h to pay our debt. Wo wish to receive aa niaer paper dallawi a< imwibia in the ahapo af taxation at tba leant |a>a*IM? (Mat lu raal money to tho people. Let us auppoaa that tha people pay^OOO.000,000 paper dollar* la tares. With go'd at twenty-tea par oant pretntirm the dollaea are worth eto'i'* oant* each, and the <100,000.000 paper dollar* would ba equal to $480 000 "00 in money. Tba people could endure no ?uch taxation a. thla It would break th in down, it is breaking tlicm down. And tha mora gold go** down the blgh 'r the paper dollar* rl.-e la value, and the worn* it become*. But auppo-e tha premium on gold la on* hundred. Then Uto paper dollar* will ba worth fifty cento rach, and the t?>00.0C0.000 p*|or will be a>]uvl to $300,000,000 mousy. Tba people would not b: disirvs-vd by aay Mich taxation aa tbto if industry Is prospermia, if thev can find a ready market for tbo prmtuciR of tba proiluciR of their labor, If fore gners aro pro Vented from uudorselllng th"m If foreigners un '.enell them they will stop producing and be*tn afiaenlaMng. If they cannot soil the products qf tho'r own Imh.stry, they will buy and sell the products of foreign Industry until their means are oaten up by taxation. What good purpose then can bo effected by contracting the volumo or the currency f The contraction of th* volume of tho currency ctniiot Changu real values or relative puces. The barrel of pork will still be worth two barrel* of flour. Tho days' wages will still givo the Ufevitng mao a living. And here lot us say that the aiarnal Taw of anpply and demand govern# prices. The real prte* of any thing cannot permanently remain above the coat of pro duction. nor can It remain permanently below the coetof prod ictton. And It Is the real pre* we mean when we speak of price. It Is ns-lees to found any policy or build any argument upon currency prices, when the currency Itself has a flotitlo is and arbitrary price. Since It would be Injudicious (even If It were possible) to contract the volume of the currency than, we must contract the value by depreciating it or raising the premium on gold, l.ct us seo what effect this will havo. Will it enhance the pri a or domestic products f Bare again we must plant ouraeives on flrat principles, Tho Immutable law of supply and demand governs prices. We must keep within the radius or tbreo foundation principles. We say, therefore, tbat unless the supply of circulation and dope?)!* be increased, unless the circulnting capital be Increased (business men will not put nut their paper when gold Is high), 'lie currency price of domestic produota cannot ba materially increased until tho specio price has fallen so lor, owing to tha drcroa ed value of tbo currency, that, there will bo an export demand. Then, indeed, they may advance, and theu It will be the balance of trade be ?omen changed in onr lavor. A practical illustration of our argumon'. is shown by the palpable fact tbat while the ci*t of living is not materially lower than when gold was ?60, the dltllouliy df procuring the necessary means of living have been Immensely increased, sn<l the protlis of noorly all classee pf merchant*, tradesmen and ' Id aoi mcchaulcs have dwindled down fo a very small point. There Is an apparent exception to this principle In tbe article of cotton; but the exception Is apponnt only; it "ile. Supi' is ralhor a confirmation of tha principio. Supply and demand govern price. The and govern ndce. The great demand for rottgn > coming from KngTand, (He chiet ?onlUmiiig country; tpecle price oi ouroctujo IB England will depend upon tliea i the specie l . . __ the d mrnd thftfs; and if the price of ?otter, to fifteen pihee slefTing, ft will sell for that sum regardless of the premium on gold here. At or abovo tho coet of pro duction, England fixes tho specie price of cotton In the Amerleun market the same aa the does the price of black tea to tbo China market. At or below the coet of production, America flies to a gxeat extent tbe prioe of cotton In tbe English market the same aa China fixe the price of black toa in the English market As w axiom, it may be laid down that at or above the coat of production the price of any article of commerce to regu lated by tbe market of tbe chief or only consuming country. And at or below the cost of production the price of any article of commerce is regulated by the market of tbe chief or only producing country. It will be seen then that a rise In th* premium en gold win If gold ah benefit tbe Southern people eapaeaOly. If geld should go to one hundred premium It would urobafeJy make a difference of $60,000,000 currency to the Southern peo ple la tha remainder of their crop, and they will then be enabled to pay their portion of tbe tax?*, aa wall as their ~!ortb. We bailer* tha Southern paepl* debt* to the North. . . bar* lost money ao far, and that cotton to below th* cost of production, and offer* no inducement for cultivation. Cotton to as useful for th* payment of our foreign debts aa coin, but unfortunately the specie coat af production ban to so high In oomvquence of tbe Inflated value of onr currency, that It cannot be sold (or Alteon pence In th* Eagltab market at a profit. It may aiao well be doubted whether w* shall be able to work our gold and sUvtr mines, if tha currency remain* long la tto present condition. Will tb? rtM In th* premium on (old chock Imports, lion f MkoliesUy It will, for the currency price of foreign good* will (unlike the price* ol oor domootle pro ductal advance with the cuienoy price of geld tn equal proportion. The roaaon of thi* Is that the currency of foreign nations la a currency of Intrinsic vales, while our currency la on# of credit value devoid of intrinsic veins. Will the rise In the premium on gold aback specula, tlon T Manifestly It will, for the rise in tho premium on gold Is a depreciation of tho currency, or a direct and immediate contraction of tho value of the currency. AIdo as Importation become* chocked, the products of foreign labor will have ceseed to di pia> e the product* of American labor, and the bom of industry will again be heard to drown the clamor of speculator*. Why do our people speculate r Became they are Idle and have nothing elae to do. The proverb says " an Idle mind is the devil's workshop." Why are our people Idlof Be cause they can produce few articles that cannot bo pro duced cheaper abroad. Will tho rise la the premium on gold facilitate and hasten the conversion of the seven-thirties t Manifestly It will, for It will Instantly change the relative values of the seven-thirties and dve-twenties, aad enhance the currency value of the latter, notwithstanding the supply thereof la being Increased. What are the affects of a low premium on gold? A low premium on gold prevents th# rapid conversion of eerm thirties, checks asportation, onconrapsn Imports nation, throw* i tlon, proetraten the industry of the of people ont of employment, promotes Idleness, speen latfon, poverty and crises, aad brings about the bank ruptcy of tha nation. The amount of circulation and deposits Jnat be fore tha was brokn oat waa $400,600,000, against 88,000,000 specie bald by tha banks and perhaps 7.000.000 specie (prebably overestimated) by the people. Mow we suppose tha circulation and deposits amount So gl,500,000,000, against 6100,000,000 specie The currency problem, than, may ha aisled la mathe matical formula thus:? serosa ms wan. BftcU *a BoaJb and Circulatum and hands of I'oopU Currency value $400,000,010, specie valoe $400,000,000*. $100,000,000 Currency value $1,400,000,000, spade value, gold at ISO, $1,160,000.000 14S,*? Currency value $l,600.onftjOaa, specie vaiue, gald at $50, $600,009,000 100,000,000 Supposing that $600,000,000 specla value Of olroula tlou aad deposits (or about thirty per cent more than before th* war) to be oafflcleut for a sound, henlUiy and active condition of trade and Industry, tban It la beyond dispute that tho premium oa gold should be 160, or that tfc. siuisuey snuuia depredate to about forty cants op the dollar, la order to lift tho nation out of tho slough Into which It has bean gradually sinking for tha past twa years sines gold got below 900 at tha eloaa of tho war, aad to restore In our flavor tho balance of Ado, now so fearfully against us, aad bring* back th# enormous ajnount of bonds that Is suspended like n writ of oioeu* tlon over our heads But if It bo mid that tho currency problem cannot bo stated with mathematical precision, we presume none wMt deny that tha value of tho currency to Inflated for beyond Its natural point, ana tbst It mast bo adjusted speedily or It will adjust Itaalf without assistance. At adjustment, we repast, must coma, and If it eomas un bidden It sun swaep awar tba Hon. Secretary of th# Anaaury with his pollay (If ha baa any) Ilka chair before the wind. If, therefore, our good ship of state, either Ignoraotly or with barratrous design, to betflg steered 'Dl? '*? vortex of n Unsocial storm, wa pray that Congress may Instantly aarame command aad put ?bMt whils yet tha vessel la manageable. But it mar naturally ha aaksd are wa asm going M moms spade payments* Until the debt to funded and funds now held abroad come back te ue la tha natural oouns of oommsres consequent tn tba establish* meat af a favorable balance of tntda. It will bo impoa slble to pormananUy resume specie paymente And la s fovorable balance of trade and fkclll tate the fondUtg of tba maturing Indebted uses, it will bo depredate tho ourreacy. aad wa think wo may aafoly challenge tha ingenuity or man to point out say other expedient. The further depreciation af tba currency to the remedy, end the only remedy abort of '??fo l*?*)**tlon itself. In order te deprecleto tha curroocr lt will be noooamry fas the governmant to hoard every dollar of gold; aad sot only this, but tba tariff saaejbe ao adjusted an imported commodities of pro dactlva ar reproductive eoosnmptlan aa te absorb as sees ?a peaabto th# sold latareat paymanu of tho Traoaury Dapartmanl The Importation of foreign com modules Errs (aeu&3ss.wj&.?s3u! the gold Interest Itvcrmt, ul will floally reach an an nus! sum ($120.000,000* 0D?-half greater Ibaa *??" ??l*l produetiin of our gold unties. It should alW?WI??> btfied tliat wa hava cola lataraat payments to make abroad to tb? exteut of parti*pa thirty mil tons per annum, and that tbaraalil always t>e aooin balance reeling against ua in our commerce with tlia uncivilised nations or Asia AU, or n-ariy all, of which reymenU moat ha ma Jo at tha money enitre of lha world?London. It wul ha wlib tha greatest difficulty that wa *?all be M*>ad ?? establish a favorable balance of trade in^halac*? or such obstacles. Wo undet stand that tha t?ln ret., customs wore onpiuallreel apart by law and hypoiho ratal to tha holders of tha gold hearing bonda. M se curity for the internal thoreon, and wawannot hut re gard the whole policy of selling gold, from begtnuing to eu.t, as morally wrorg, prejudicial to the 1 csloulated to impair public credit, ^a ??anrtlnary depletion of the Treasury In May last, during tho Eng lu-h parlc with fti# wpenittviciibte objact of re?** in* tba Engltah money market, wa. tha moat iDatmn a almeeof power that could woll he oonre red- Tb* 8? wmmhM at 130, and went lmmadl.tcly out of tha? = try. and It probably coat tha taxpayer* at tba average rale of 14.1 to repla". It, thua making a net loss to the ne jple of not leas than four million, of dollaim In cur ler. It Is scarcely reasonable to ezpeot the American people to take care of the English money market. If tnev can manage their own ao aa to avoid general bank ruptcy, U will ouly be by giving affair* a very <l'ff"reot tore I rem tha roc we la wh ch they are now directed. N,.r waa the sale or gold necessary to protact American credit. American credit rests upon tha resources of a continent, that if rightly used, will amply sustain it Bit evan tha roaonrcoa of a continout, if shamefully a Mi sad will ba ltiadequalo to ettpport that, which It wou d aaem tbero ero determined efforts neing mado to ^But^whanoe thia axceaalva anxiety?thla prurient desire for the resumption of spoele pay moms ? CUi bMtnf Do our fellow cltlzent anppose that the resumption of apeoia payments is to ushor In tha gswn of bliss ? Hare they fully weighed tba oon aniuoDcns of the resumption of apeclo payments with all our o Islanding Indebtedness f we have eteuid elsewhere that tlia process of resumption need not necessarily produce serious inconvenience. But ? w# suppose that the national d?bt *u contracted In a depreciated currency Worth fifty cents on tho dollar, then the rsw iroption of specie payments, with IU ennee quent lmt>osltlon of the debt upon the people at Its faoo value In speele, will huva the effect of doubling the debt at oDCe?a proposition, we suppose, that will be retarded aa self-evident We quite understand the anxiety of foreign bondholders for the Immediate resumption of specie paymeuu. We suppoae that, naturally enough, tbey are to a hurry for their money. It Is of email con sequence to them what b'comes of th" countrv art r they have obtaioed ths specie equivalent for too face or tbalr bonds. But will th e ho Just to the producing claaaes up^n whom, after all, the burden ot tho debt will rest? The Issue of paper money by the government was a great but necessary evil?by far th? lesser of two ovum. A gigantic civil war haviug broken out. tho contest bo csme ouo that Involved tho validity or ilia government Itself, and hence it was driven to the desperate expedient of paper money, as all governments in such tremendous crises have hitherto boon, and probably always w II be, driven Tito legal tenders uro a revolutionary cur rencv. and our debt Is a debt contracted in rovolu tionary ourrvney. If, then, tho legal tender currcuay has b-eo a great evil, and has imposed heavy loasee on the producing classoa alroody, wiil It not ho regarded as a gratuitous outrage to impure upon tho people, at Its full value In specie, a debt thnt was contracted in such n currency ? There Is no instsn-e in bisiory wham these colossal war debts of nations have been paid off. The debt of the American Revolution disappeared with the continental currency; that of the French revolution with the wr.vna't and momfuf*. Among those debt* thai survive tho wars which created tbeui may lie men tioned that which hangs like a millstonei on the neck of France or those that are crushing Austria, Italy, and Turkey. But the most gigantic of all debts is that of England? which, beginning w,!b Orange, in 1???, attained its maximum ol ?8116:000,000 under George ifc, In 1815. Tho larecst incroave to the English debt took place betwecu 1797 and 1815. during which time the Bank of England had suspended specie payments (and did not re uma ttll 1821), and, with the exception of a brief Interval, the nation had been engaged in foreign war. It Is Important to observe tlmi England was engaged In foreign war, and hence was not obliged to rtrort to paper money; and although benka of issue multiplied very rapidly after the suspension, yet tne depreciation of the Bank of England notea did not CSS. % ?W8 (SSM'SffiVSS vartlble bank Mils are practically bills of credit, yet they are not ao in ateobnlcai aenae, like paper money, *'Although tC English debt waa Imposed on tba English people at tta face value in specie, which face value was enhanced by the improvident system of tund^g for the purpose of gaining the aet-offof a low rate of interest, yet it is Important to observe that the currency in which in tha old sundard at the termination of the war, that the return haa vary greatly enhanced 7J** currency; and that this enhancement, by addlngjropor ttanal ly lotha fixed burdens ?n th* Indnatriou. classic haa been meat injurious to their Interests, Bat the bondholders carried tho day, quaace, the laboring clamee of Great Brtuln and Ire land hava been proatruta under the relantleaa heal of a titled and moneyed aristocracy for half a qantnry. Wo will only add with regard to tba English debt, Emt la no human probability of its aver being peid off, or betng materially rrdueed; and wa hazard tb^predlctton that before the close of the present century, p rhapa, England will have substantially.changed.her formioT ?xTendeSSe eoffrage, abolished her laws of aalallment I^ghta tJ ^nm^iure, thus changing ber teuum, and ao tweaking up her aristocracy an to reeult In ajsub stantial change of bar form of government . NotUnghamcanUe hlarilmudU Hrtrtol a bmpcf aahaa. monarch, and ministers moat bend. The Rrnrn bill matt then pern ^hrwgh TJrt^ment or the stgnlflcant words of Lord Macnnley , ana ut" whether the oonstituenciee are met or smslL If Ui*government wm neceemrtly obliged to commit Iniuattce^o the industrial cleans by adoptlnganarbl tnry and false standard, and contracting a IomaI Droporilooa by that standard, will It not bicom milling inJoaUoc afrvah to ratnrn to tba ?JJ^ects standard when the moment arrlvee wA whlcbL .t mhauin reducnc that debt by taxing tha people? If tho people have managed to set "T* JJ?? a mlUlon lb. DWt wm In 2iVrI. 'c. #onr ? Ava years longer with the same onrreucy, and by puiung a million of meu in the workabops and *tsiii? ao Increase the producing power of th* country H'r^i^^OiVenormous debt to msnageable i^por tiona? It la not the lrrodevmahle pai>cr currency that hm* broocht the Industry of Ih? wnntrt to a It U iho actual aod **.v?l.a $,-Vto it flitnl tha Titluo of tho curroofy "?? do and pn veotlne tba rapid conv.rrionajtba 3s c . .. OBt? br ehannlng occasions of siynw, hut &VSr^l?Mm in J of iwnce, to dimhny ^ ?nT2L>nd JVg U. uZni be<'im^b^ ?? ^y^LWg5L'P!a payments ml the maturtaa indebtedaeoa ts _ oar bonds * frufa''markit fbr of foraign tabor, dlmlntahed re^ue-iawnai^ay M vsmolly?and in the ganatnlly blighted wndiuoo or ?? ?"TWrn. policy jj. roncy to forty evjftyenntaon a till the malurtne tneeoteaaeas ta ruooea ana la brought hack from Europe, and until then the r ealllng goM from lime to ittne end menacingly lha cent ante of tha Hub-Treaaary ready to launch unable ns to extinguish It entirely in twenty or thirty gears, provided we see not involved is ii|s?Ire 1 ~ But ir spec e paymenta ba mnail at ansa (an Idas which in simply preposterous! or If tbey ba nmnmod erttb the whole of onr present debt In eimtenra, the annual internal charge will exeeed $110,000,000 and tho wrta olpal $11,000,000,000 If ew debt aero bearing only tWeo par cent interest, are oould doubtlem manage H even at Ra Ml mine Is gpealn, bot mttf at grant A of perpe tuating lie sxisteeoa. It may be aatd that the oohkei lathe we shall be able to pay ear debt at all. We maat make the moot of those conditions, however, far It should be remembered that unto every one that bath snail ba given, ad he ahull have abandanoo; bat from bim Mm* bath net shall be taken swap even that eh Mb be bats. tk Mia mi tmu. Ottawa, a W.f F?k. If, INV. The reporta of Dr. But aad In Mtchaol, at thoOew luteal Hurray, a* Ota lladoa gatd rogloa, pabHahad to day, oaya UjU gold baa bow found Is teteo dlObreat a? aoc tat Ions?In Mack aartanaoatat matter, ta nNkt oebervoxtde of Iron and ta oryntalltaa Miter agar. ?Na lb# Btobardao* tnlaa carboaaeoom matter Wtmtit ytaldad from fifteen to twenty daUanot Mid te tea tea. Tit gold ta of dnil raddtab eater. Report atatae teat gold kM kaaa Man mat ta aaiaaal other towaabtpa tlllll VARCMUSC RVIRII Rl MSTM. Boortm, Pel If, WfT. i entail wirteeuea aear federal awaot. eoatetataf

$40,000 north of oettea, mm deatwyd by fro aarly te?e laorntBf. Pan at tea cotton waa eaeed la aaod ana dlttea. It waa falle taaarad FIRE INSTTEAUCB. lap*riut Artlan of the *iee??lT?C???HC*? of the N?iIomI Ilettrd ?( Underwriters. Tbe Escontlve Committee of the National Boturd of Ftre Underwriters helj a mtoting at their rooms, No. 166 Broadway, yesterd ty, for tbe purpose of receiving several reports which are to be presented to tbe grand convention of all the Ore Insurance companies to day. Tba following named gentlemen were present:?O. H. Curtis. Boston; Walter Paiae, Providence; Mark How ard. Hartford; 0. R. Satterlee, New Haven; E. Froeinsn, Sprint. Qald; D. A. Heald, WiUlaut Conner, Jr., E. W. Orowell, A. J. Smith, P. W. Ballard, New York; O. A. Van Allen, Albany; Charles Piatt, Philadelphia; N. P. Campbell, Baltimore. Mr. Heald presided, and P. W. Ballard acted as sec retary. The ehairman of the Committee on Local Boards, Bates end Commissions, read a lengthy report, In which the number of local boards organised since the forma tion of tbo association is set down ss 21# In a few plaoes, the report says, between these boards there Is some jarring and friction occasioned by Jealousies and suspicions of rival agents. In addition to tho organ I aa tlon of tha number of local boards roferrod to there bed been a vast amount of bu ineai done by sub com mittees sent out by this comml'tee to survey and rats dIvi dots of country where Jo nl boards oporate in turgor section* than those embraced wuhin the limits of a single town or village. These rob committee', as a rul\ tho report finds to have been more efficient tlnn agents. Of tbo mailers referred to this commit tee by tbe Execu tive CottBilitoe at its last meeting, the former reports:? Ti' tt?That It baa uned upon compagies rcprescn'ed In the National Board to Instruct their general, special and- local agents to use their influence to have local boards formed In all placea where no such ontai Izations exist. Companies have promptly seconded our requ??te wherever it hat bnso lu their power so to do, and It has to acknowledge the aid it baa received from companies in this dire' lion. S<u- nd- In regard to securing municipal action as to the' storage of petroleum and t?n proincia. Circulars have bean sent to alt the local board.-, and in many" pl'icoa where kno boards existed upon thUsubject favor ablo responses have been received In regard to the mat Vrr. Third?The sublet or local taxes and licenses, aleo referred to tharo, has been attended to in the same mann r. Ftivrth?Ju regard to the formation of a I xstl board in Chicago tho committee would report that the local ooard In that p'ace, which, at your t i?t meeting, only em braced forty-is <ht o >mp"ini?s on' of 'eventy-dvo doing business there, now cirapri-csiall of said companies in one harmonious worklug Intv. the bencfl lal etlccts of which have been demonstrated by the advance of rates in that city on an average of about one hundred and fifty parent. Theettl. t of ibis Chicago mm em?nt is not alone valuable to tho underwrite? roprcjcnt'd at that place, but to 11'e undirwrlters represented In all other localities of tee West that aro subsidiary to and con nected with this Western metropolitan city tu butiu* ? matters. How and why it is valuable it Is not necos.-Nvry to say to ko illtell,geI), a body as yourW-'vuntlttoe, who are familiar with the int'mn'e ret-tion?bip there *?|Hts be tween t'iitcaito and most or too Western and North western town- un I cities, especially those of Illinois, Wisconsin, Minnesota and Iowa. Tbo report i lien concludes by advislug, tn oompltsnce with a resolution passed by the Executive Committee In Hirford on tbo 9ib or Acgast, 186rt, as to tbe best mods of making "a s-'lodule of common rales to be used at po nt? where lotvl boards do not exist,"' and by alluding to the various boards of underwriters of several of tho largo cities In the United States, in comparison with which boards that of New York is said to be far the su perior. It also advlaos that the Executive < ommlttoo should take some steps In regard to a better fire under writers' organisation in Philadelphia, Sb Louis, Cincin nati and Boston. A scale of rates which was affixed to the report for various classes of bottseg and different kinds of property was the subiect of much discussion. The Chairxax called the aiteutlon of the oomm'tteo to the storage of petroleum oil of a bad quality In oitlea and tbe risks Incurred by such storage. A resolution was oflered by Mr. Piatt providing that In cases where an insurance of .more than three-fourths of the valoe of the property is granted an Increased pre mium should be paid. Tha resolution, with tbo report, was then referred to the National Board. A resolution was also offered and (adopted requesting tba hitter board to increase the Executive Committee to fifty members. A letter from J. B. Bennott, one of the members of tho Committee on Amon. suggestlog thai the National Board i>-sue a circular reeommouding lbs closer inspec tion of bnlldtngs that are to be Ipsnrqd, was read. A report against dver Insurance was presented by Mr. Howard, Chairman of the Committee on Forms of Policy, tn which it Is declared that tbe contract of Insurance against loss by Ore was not doslgned to assume the entire rfsk of the subject Insured; but It is Intended to leave in the hands of Ita owner a sufficient portion of It to guar antee his vigilant Interest in tne preacrvstlou of the pro perty. This report was signed by two oat of four mem bers of tba aoasmiUaa. The subject of Um report was then fully discussed, nftor which, tho following resolu tions was offered, which, with the" report on over Insur ance, was referred to the National Board, which moeta todays? Resolved, That tbe Executive Committee do earnestly re commend to the National Board the adoption of the three fonrth* rule, that proper relations may be restored between the insurer and Insured, so that the latter will have a sub stantial Interest In the safety of Insured property. Tbo mooting then adjonroed. VETROrOLITAlT TOE DEPABTHEfT. TO TBK EDITOR OP TBI HERALD. The fearful Increase and extant of Area occurring In Now York daring the laat two years have excited the alarm of oar clti*>na. They hare naturally appro handed, if this great and growing evil be allowed to con tinue and raffer no abatement, that It will become, nest to war and pestilence, the greatest calamity that can afflict a people; but they hare at the same time been hopeful that the resources of modern art and science would he folly employed to combat this terrible enemy and arrest lis progress. They were encouraged to cherish this hope by the success which attended the scientific efforts made to mitigate and avert the affects of the visitation of that terrible scourge cholera, which so recently threatened to decimate the Inhabitants of this city. They could see no reason, providing that equal skill and energy were displayed, why the lament able destruction of so much valuablo property which has so long prevailed in this metropolis could not be equally controlled and proportionately prevented. The secon d annual reports of the Commissioners and Chief Bngtneer of the Fire Department Just published, have, however, ' done much to dissipate these reasonable expectations. These documents ere so Inadequate, defective and meagre la tbslr suggestions as to prove vary dishearten ing to the public who support ths expense of the organi sation, and 1 there 'ore trust that I shall aot be deemed presumptnous in atiemffttns at least to make suggestions for ths Improvement of the work so Imperfectly exa anted. aoAsn or oomiiMiosxi'a. As the efficiency ot Ute paid department depends al most wholly upon the organization of tbe board of com mlsaloners. I would respectfully submit that an Interest tn wbicb Is Invested capital amounting to fifty million dollars, nightly Jeopardised, and represented by men who have spent Uielr live* In the study of the subjects which occupy tbe attention of these mortals, ought to have a voice la ihe deliberations and action of the Breed. The unprecedented number of Urea which have occurred during the peat year, the extent of the devas tation tber hers csuasd, which threatens to annihilate the protective and benevolent institution of Insurance end to Impoverish ths merchant, the widow and tbe orphan, wheat capital, and In many Instances chief de pendence are involved, will Justify the Oevernor la discarding for the general welfare mere political eon ? cede rat ions aad la appointing, through the Board of Underwriter*, or otherwise, one or more persons con h the ? neei?<l with ibe letter body, authoritatively representing ?e the Board of Fire Commissioners the eombtned ex perience ef the Insurance profession of this city Of the fires whteiTbave* dostroyv5*in ma etty property valeed at several mbhoa dollars within the inst two veers, the greater portion have occurred in warehouses located ( " - ? - - ??? la etraets adjoining or near tbe river frontage. I The vast and still Increasing commerce of this port baa mng these extensive etrsoleras to repletion with Ira of -0U00, oils, and all kinds of In tone nfem the supply of water far extinguishing fires In the districts they occupy has been diminished in stead of being Increased, aad, anpoeUlly whan ths pines fall draegbt, la found to be totally Inadequately ^^?qetremcnta of tfce*f1ro Departments. Tbe preeefl the reqslramrnu ^ thoTtrc Department!. Ths pre sent mains, which voire laid down when n comparatively ?mall supply wne needed, are new In many streets only eapahie of formatting water for a limited number of en gine* The iatredectom, for the parpoee of extinguish ing Area, of steam power, which requires a mere copious ?apply than the ffleoerdai manual eparaUoa, the lal ere seed beishl and extent of bo lid lop,' and haitced vain* of their coalntta, demand the construction ef^tarpsr ?in ef our ssmmtras principally accnmuista.| Thee mefae, an la London, Liverpool nd other large cities la Europe, xtmuld he laM down aicluaivsly for fire which greatly feci I its tee purpnaso?en arrengemtnt wh the extinguish meat of tarapfsai ewgleca, wboa n la siaanj at eempastea o^ks^yg^t fis^r ^^osfiaul^Ntn i reived, it wtfi appear to hatha it ?t Arse without tbe aid of understood that insurance ?eeeerdlag to the risk In it will appear to he the leteraet of the public to make foe outlay necessary to effect Ulte improTeoi'ot. evwiw noiram nan inrusai la sdditloa to the eoawructiooM mam and urn mm ifrwi^^H Man ef large mala* aloog feoatage, 1 would suggest the ex; idlsdtp of sun typing all toe urn end ferry heme with srparaiue calculated to reader sfferi.r^^^^^M'tardfiB <?? eeeervta^ miner am.of er ta etsasSa eentagnoM in th# rtvar. The foifilmeut ef tits regulatiea might he ?at by wtthhaldiagaHisnss ISMi snch hama an AM sa wato with th# require meek It went# hi imp isfflklo tn over estimate the ad the adoption ef th When the eepeetty of MMn eepply the 32 i nf ment of nro >ktyn and that of this clfy, both should be placed under (bi control and tuanafemout of the Hoard of Flro ComtulSr louerc. TULNUiUPH 'lUVAL B in, Hie operation of sxtlngul-htng flees cannot be too ?otaelesaly performed. The clantor, license and riotous proceedings cf the old system created an unhealthy ?x Citemeut, and not ualrtkjuenlly led to iueeuJurmut. The nwuttoii of the practice of ringing alarm bell* la ol>je<-. tkmable. Iita, n< -es? rv during the exsteneof tlio volunteer organization, but la notv more of an Incum brance then a utility; for upon the reception of an alarm at a lire ration. Hie message is Immedia'ely telegraphed to t o wa'ch tow r, and then tho goal Indlcattoj the district >s struck, not to give notice to tho tlromen or police, hut to uie public, that could well ettard to Fjrsre the cofi <>I the annoyance, wbu h indeed only serves to direct thieves to a promising Held Tor their operations. T'K PIKI MAIMHAL. The anomalous position and proce'd'ngs of the Fire Marshal iu this city arc not rrcdiialde to our municipal government. Ho is engaged by a portion of the local Insurance companies, and collocts a certain mm t early for his services. He U destitute of legal authority or powor, and encumbers, If he docs not sometimes pre clude. the action of the police In the Investigation aud detection ol arsoo and incendiarism. The Judicial provisions of tho ninth section of the In surance act, April 15, 1857, authorizing and i>n nrlng tho General Superintend -nt of theNewYork Police to make an investigation Into the origin of every Ore occurring m the city, lam Informed, Is not only unconHtllutlunal. but at variance with the provisions of the law of 1S57. Creating the present Police Department Under them circumstances the Legislature, at present in session, should immediately provide for the appointment of un officer legally qualified to Investigate every lire. lln should be a gentleman possessed of legs! attainments, thoroughly acquainted with ths law of evidence and cm powered to compel the attendance of witnesses, to Wire testimony and prosecute offenders. The captains of the police could, in their respective districts, efficiently co ope rat o witlt a legal Klro Marshal of this description, by dalalllug officer* to Investigate, und -r his instruction- or supervision, every case promptly, before any existing clue to its orgln was lost or removed. The knowledge of the fact that the police were employed under able direction to ascertaiu tbo cause of every firo would deter manv, whether artuatnd by malicious or mercenary mo tires, from the commission of Incendiarism, and tend greatly to snppr-<as tins crime, whiuh has of rate pre* vailed uucbeck-d to an aliuiolhg extent. The pre-cnt Kire Iton-oal, whoso knowledge of the or gln ol tires I* the fruit of many yeaia' experience, will, In the event of tho appointment of auuther to till h ?office, doubtless be retained by h:s prcsout ouiplcy ers as Preventive luspcctor, In whlc'i function his services would prove of Inestimable vnlue to the insur snc.o (Merest of New York. I he reckless manner in which combustible articles, Inflammable yods mid mer ahandis* of I mm nse value are stored together, the prac. ti ?? of smoking in cotton stores and other iirollflc causes of conflagration tba' might he enumerated, suggest the nature arid importance of the duties he would be ex pected to fulfil. ante lAnnsns. The Increasing use of iron In buddings for supporting beam* and pillars renders n change more than ever necessary in the present defective ladder cv.rtein. A lad der ombiniiiw the utility of an esc*i>e and a lira ladder which would enable the firemen to approach tho scut of the fire without depending i?n the wall* for support, to move from window to window, from point to point, bent MM tho lire by tho fSSM of the water, end obtain by a scientific and skilful application or the clement employed a m**:erv over that opposed?such is the great desideratum of the P'iro Depart ment- -one that might and should ho suppl.ed, for lot it be remembered that * gallon ol water judiciously directed Is mar* effective than a ton misapplied. The ladders should be constructed light for rapid transporta tion and admit of being worked or elevated In a moment bv a couple ol men, vat of enfflciont length to reach the upper stories of building*. The Pre "sntpies seed In London, constructed chiefly with the view of eu> (tig life, are operated with facility by a single person. A tire ladder escape adapted to nut peculiar wants and slmplo and ef fective iu Its application could bo had If sufficient In ducements were offered to inventors and oihcrs to make working machines Instead of models. Successful con lrlvan. es of this kind, <|ulto as aa-dly devised as a thou sand machines devoted toother purposes long ago in full operation, would effect a considerable saving In tho or ganization of luhk-r companies and materially lesson the destruction of property by water as wait aa by Ore nt every conflagration. nmctrt.nts. Without diligent and careful tra'ttlng and striot dlscl Bllns It la impassible that ? tire department can attiun-a IgM degree of effi.isnoy. An oruty In the face of /the enemy '-onId as well afford to dispense with these requisites as the fire department, wbtoh ou/ht indeed to be drilled in rudimen tary military movements, and should frequently be axiVksdd in Mancmivrea anticipatory of the various con tingencies oenrring at condagretInns. This could be dope without interfering with the discharge of the regu lar duties of the men, and a iactllty, ceru nty and skill In execution would thus be acquired that would insure the most systematic and prompt extinguishment of fires. Property worth million* of dollars has beqn lost for the want of oooluess, rapidity and intelligent co operation at the critical moment. Wnan uonfua.ou and terror reign In the minds and control tho actions of others as the element of destruction appears to lie sweeptag all before it, the steadiness, caution, fearlessness an l aflecliva ce lerity of a well organited corps of thorough fireman tri umph over difficulties which would be Insuperable to any lorca, however great, wantlef In experience nnd cms plate discipline ooi>r. r nmTftcrnmm. A code of Instructions. roles and regulations for the guidonco of iho fore# should bo Issued bv tbe (Vtmrais nlonsrs. It should contain on alphabetical bit of Ui? oiroom of tha city, giving iho location of tlio hydrants, ilio fl*o of tha mains ood tbo degree ef proostirn of tho water by day and br nlsbt. It should aUo Include a coo u ao and lucid exposition of tbo drat principle# of tbo art of extinguishing tlrae, of which, judging from tbo graro arron (bay cmmlt, the fireman are at praoont entirely ignorant Tbia defletrney on their part baa been productive of groat deotrucUon of property, both by Ore and water, Numaroos Instance* might bo * * "will limit adduced eotohllahhig thlo lamentable fbot, bnt It by citation to thran:~? At a Ore which rac ntlr occarrod In Fulton ? treat tho flroman, unacquainied'wltb tbo phenomenon that a col umn or otream of wa'er forma and impale n current of a<r, which fane the flvmee and eproads the Are, omitted, while playing an the front, tn protect the roar or tha premises. In consequence of the neglect of till* ooaentlal dntypromlaae In another strsotr w. 302 Broadway? wore burned down. Tble groo? oversight appears tho more surpi islng wbon It to known that ao rule is more familiar to member* of competent Are organisation! than the following;?"Take care of tho roar; the front will take care of Itself." Tbo second oaao to which I shall refer came under my own observation. A Dm was smoul dering on the promisee No. 41 Vreey street, occupied ao a tobacconist's atom, and amoko was observed occasion ally Issuing from the window frames, when the engineer of a ladder cart armed, and broke open the door, long before an engine reached the spot. Tho ex torn at atmosphere being tbns at once admitted to the seat or the Ore, the flames were spread in all d I roc''one and the premises on fire and thorn adjoining were wholly consumed. Had this engineer b en onfttciently drilled end -Instructed In his dutlee be would hove watted till tbe.wnval of the engines or have broken into the' next house, ascended to the roof end bave endeavored, by choking op the chimney leading to the fire, fo present tbe extension of the flame* or to stifle them altogether A oooiwe so Judicious wunld probably la thia instance have saved sixty thousand dollar* of property which was thus destroyed. And Anally, at every large Are e vigilant lookout should be employed In observing the condition of the roofk endangered br tb* flying ember * | It wee owing to a cutpsbls neglect of tbia precautionary I measure that the Bo man Catholic cathedral was a few months ago laid in asbew. t.? snurnaa rr or nam The police force should be Instructed to prooetd at once on the dleoovery of a Are to exclude the external air from It by hooping all tha shatter* and dour* leading to it dosed till the engines are pre payed tn poor the water on the flames. At every polio* station shaft length of wire rope In llok>, like e surveyor's shale, with spring books at each end, afaomM be kept, to form n barricade across streets and prevent the crowd ef spectator* from Impeding the operations of the flremen. Two men with these rape* can reader more service than twenty pursuing the present method. Every police station should alao contain oanvaa Jumping i t^^gc^^^ortt^urpos^^eaci^^ from burning boose* before the arrival of the A library and reading room should be established st every die station, for tbemromoUon of the menial im provement and elevation of the men composing the de partment* Many philanthropic oHIsena, who take an | Interest in the moral walfare or tbe men. Would cheer - fullv contribute to the seesmpUebmeat of an exoeUsat aa object, While anything rasnaina to be don* calculated to Ian sen tha frequency and sxtent of Arm, tbsrs I* no excuse for iMotion. How mush good might be eflkotod tn thin direction, the primitive appliaaeoa and Inadequate ap paratus, tbe Imparfbct discipline sad erode and a wens on* methods ef the Fire Department sufflclenUy demon strata In this respect there la indeed a wide fleld for improvement, and to deoltee I* cultivate it by every means that experience, art and science afford appears, i wbon we ooumdof the Immense low of property and the aacrtflce of Ufa annually occasioned by fire, to be not NMH i only a dereliction of duty, but an eotual crime-a tacit I assent to the ooutlnuanoe of wholesale destruction of capital and wealth, and tbe frequent and cruel Immola- I tlon of our fellow cttlsras at tbe altar of tbe elemeatei Moloch. Toon respectfully, STEPHEN ENOLUM. otteices or mn cibmjm. 181 ItCHMMB COWKJP08DWCI. Drepernte AtVav between ?* B*.United Mtatre Reeralthg OEeer and ? kfcirlf'e Poses la North Carolina. Bnflwopn, Ta, Feb. IT, 1I6T. ? communication Just roeelved gives an eoooonl of n flagrant outrage by rwbele on n Union man In Worth ChroMn*t wb* wns foraaeriy a United State* reornHIng eOoer. named Mimiy, who went reeently te Wayne*. vtUc, te settle aa oenonnt with a msa named Wllbnr. White they worn oatuing tbo Sheriff; Frank Davis, gatbmad a gang ef rebeta sod want te take Msaeey. He ana tbom eomiag aad ran through Wilbur'a dining room te getaway. At n abort Ateten** from tb* bona gang flrod aa Mm, bat mloasd htm. Alterhwni bad beeaflted bo la rood aad flmd an*, wticb mtqaafl tbo crowd, bte paamng through WHbar** dtnlng room atrash. ?ttae Underwood a the hip at tb* front Ooov. Party ?rod at Hassey wttbont Wflmb Tb* Sheriff gbete waro flrod at Emmy without odtete. Tbe Sharif, 1 eedeeeued, aa/s that he will call eat tb* county ti Mb* Mnassy If be attempte snah a thing there wit! be * mere dreadful time tbero than ban *v*r boon soon. It apnea* that Meeosys only crime wm paaalng ronrnlto I for the Unten army through the lino da Hag the war, for wbleh be now etaads indicted. Hie frtenda have ap pealed te the United Autre authorities for is< tmqiim. and are arennrtno te defend Uumnairom OBITUARY. Mnrnh. < ouiki ki* Uowsttr of Jrrnrf. The London papers lb* au Men death of this la.ty, at her town residence iu Berkeley square. It appears that baring rotlrod to her drawing room after d imrr, to all appearances In | erfrct health, the domeo ttcs wtn startled by the violent rln< ng of her bell. On an attendant entering the apartmeut the Counters said abo loured the 1> id broken a blood re- tel. Medical assistance Mas instantly obtained, but It (ailed to d" any g<<> (I, and the Counte d expand ahortly before eleven o'clock. Sarah Rophls, Countess of Jersey, was born on the 4lb of Marob, 1785,Rttd was oa?<<equeetly In the cigiity aecond year of her age at tiie tunc of her d"alh. She was the eldest daiubter and only surviving child of ilie tunth Karl of Wednor land, lor mother being Anne, da tighter of Mr. Kolx-rt Child, lu May, 1804, the dcea ud lady married George V soon at V'illiars, who became Burl of Jersey the following yur hv reason of the death of bis lather. By this marriage there were scrim children, of whom four were sons and three daughters. 0.* these children Frederick, married to Lady Elizabeth, dutghter of the JCarl of Alhlone, alone surviros, the title of Karl of Junmy being worn by the ton of George Augustus, her aldest einld, who died Shortly after his lather. But few ladles of the Enplish aristocracy have hold a higher position in society than the Countihjt of Jersey. Poieessod 01 evtruordaiar/ abilities, nod having a thorough knowledge of European politic*, she drew around her the most dldlngaishcd foreign diplomatists of Iter times, as well as the prominent statesmen of the tory and nberal parties, Ilorseif a strong lory, a be. lie,er in the superiority of "noblemen" and "noble wo men" over the great mass of tiie people, and of the ngtit ?f iho aristocracy to rule tho peasantry and middle clans of England, her ladyship soon became distinguish* od for her pol.ileal partisanship, and ber "at liotnes" were exclusively confined to u distinct political fac tion. Notwithstanding this, however, she received the at'outtonh of many of the opposing parly. The late Lor I In line v.-Hon, cvon whon iu office. was un ocoa slonel visitor; and Lord Brougham was a warm personal friend of t tie dfceased. F?r many years tho Countess of Jersey hold au env able position among the uristocmcy of London. Tho death of her husband in 1859, bow. ever,. Induced her to retlra Into seclusion,, and ever since she had ouiy sought tho loe ely of her most intimate I rends. While yet a cntni eratlvely young wai?t?a received tiie personal regard of tho Emperor Nicholas of Russia, and tho Kings of i'rusina, Holland, Belgtutn and Hanover. In her private character the Counters Is represented as having born kind and charitable, without ostentation. Bhe Is said to huve supported many Indigent families, who will necessarily feel a dnuhlo regrei at ber death, l or many years past her ladyship had been one of the leiuiiug patronesses of "Almacks;" and, with Lady i'aluierston, shared the greatost influence. Colonel Aitliur Ht. ti. II. Htepney. C. R. This distinguished officer of the British artny died recently at Jersey, England, from injuries received, He entered tho sorvlea ?s encign of the Twenty-ninth refit ment, la is;I4, and, after being promoted to varioue other position*, was appointed Major in 1860, and became Lieutenant Cnlonol of the nor fourth regiment in 1864. In .lulj of I he same year he wao appointed a Captain and Lieutenant Colonel of tiio CnidsMMams, and wae placed in command of a battalion of that res?cent, with tho rank of Colonel, In 1883. In Augnnt, 1806, c.o,?10| Stepney ret'red on half pay. The military services of iu, deceased were brilliant and received muoh notice. He was ? ngaged in tbo Hutlej (Iudia) campaign of 1845- 0, and commanded the Twcnty-niti'h reglmoot at the battle of Ferozeshali. When, retaking tlio h'ikh camp a mine ex* ploded, blowing hltn up and wounding him. He never* tinders continued iu action until severely wound d by a grape sliot, alien lie was c impelled to relinquish the command of the regiment. At tho liattlo of Sobrao? he greatly distinguished himself; and for his gallantry during the engagement was promoted brevet major, and nominated a C. B. with medal and clasp. During the Cri mean war be nerved with the CMd-tream Guards from December. 1864, to Iho end of the war, and received a medal and clasp for Sebastopol, together with a Turkish medal and the ordor of the Mfdjnlio, fifth class. In 18G4 he was awarded the good service pension of ?100 u yeer. ?time. 1-ouis L'ltnpins. This lady died recently at Marseilles, France. She wee a member of ? family distinguished for its adherence - and faithfulness to the Bourbon dynasty. Her father re* iccived several severe wounds while defeuding Louie lx\ L, on the 10th of August, 1702, and her mother waa presented with a pajr of diamond earrings by Marie An toinette, for the teal she dit-piaved in protecting the Queen from the fury of the rabble on tho same occasion. ? Mr W. 8* Harris. P. ft. S. This gentleman, known favorably throughout the civil ized world as the Inventor of the onlv safe method of lightning conductor*, died recently id England. He was born in Plymouth In 1732, his parents being ot the lower clam of society. He received a good education at the Plymouth grammar school, and atudied medicine at the University of Edinb'trg. Alter practising his profession with great success for several years ho abandonod It and devoted himself entirely to the study of eleetrlcity and mag. nrtism. In 1820 he discovered the mode of conducting lightning by means of broad copper plates, and hie writings on the diecovory attracted so much a:tention that Queen Victoria conferred upon him an annuity of ?300 . "In consideration of his services In the cultivation of science." in 1843 his invention was used on nil of the British war vessels, and since that time the British navy has never known lorn or damage by lightning. In 1880 the deooaaed received the appointment of scientific referee for the government In nil matters relating to electrtaity, end while In this position superintended the fitting of his conductors to the two'houe^s of Parliament, the royal palaces end other public edifices, the last upon whloh he was personally engaged being the royal mau soleum at Jtogmore. Sir w. & Harris waa knighted for hie services to science. A Cull feral* Pfeneer. The Qallfornfa ptprn bar* long obituary notions of Mr. Michael Phalen, one of the earliest pioneers of the Golden Slate, who died recently alt the resldenoe of his brother, John Phalen, a well known California merchant. In Fordham, near this city. Mr. Phalen landed In dan Francisco on the steamer California, in 1840. He waa among the Urn of those enterprising spirits who con tributed so much to bo lid op ths fortunes ef that State In the race ef those limitless difficulties which met ths Cnssr at every step. In conjunction with his brother net, who is still e resident merchant In San Francisco, lie succeeded in amassing a handsome Independence by untiring industry end spotlees InteriHy. His a emery fa rerured by those who knew nlm through allele burinem straggles In the new State on the Pacific. He returned to Now York e short lime nines to enjoy the fruits ef his labors, end unhappily died hers, at the eerly age ef forty MT-n yearn, leaving behind him a record which might serve as an example to the rising generation. THE KW KKllliE CtfTTEB. Them are new In an advanced state of construction at Ha Ui em's shipyard, Green point, two vessels tnlendad for lbs United States revenue service. The vessels war* commesoed aboat ths middle ef November last, from models pt spared by Mr. W. H. Ha thorn, which bad pre viously beta submitted to the governmental authorities at Washington, and motived their unanimous approval. The veaseli em models 01 beauty, exceedingly road mod lout sad built with a view to stinm great speed and at the aaaae time ha oapable of standing a heavy earn No pales have been spared by the contractor, either sa regards ths work mas ship, material or oomplstsnmn ne. tsaary to At them for the oftentimes erdeous service which this elaaa at mUlag vessels am celled upon to per. form. They are ninety feet oa ueck, with a breadth of beam ef twenty feet alt inches: (tenth ef hold, aorta feet nine I neb as, and an sheet 190 tons burden. The fratee eon stem of whMo sad lire oak and loeaat, They are both copper fastened and coppered ta an eight fhol water lies, sad will be rigged as what te known among eeamen e^fosn end aft scheon* en The la toiler of the reeseie prove that a great deal of earn sad attaetloa has bees bestowed span their or mere fate as as he secure that ecwaaahtles whteh In tan rmaeenuy last sight sf In reensls of Mmlied eepneHf. la thlalmportaat matter ibe builder waa saabledtoproit by thadkeowiedga and etperleoeo of First Untenant thwiw r. cuamm. whs waa sppetatad hp the gwainMt ta superintend their sontiruction. The ofBsen' apart STfe"M? man's opartmeata an located anudtnipe, and n? ? oerdiagiy comstodioua, and anangai ta aseommodhta twenty men. The armary, aaagnstaso, water leaks, galley and storerooms are aA betaw decks, and sanea qneatly the desk of the rotnel Is eempletaly free from iiisii tmeij sscnaihmnrea. They win ha iued wit* Jac kson's patent* windless and Warning apparatus, and will In all probability be launched early la March. Ihan isalse la eoarns ef coastreetton tn the asms yard eae of lbs second etaae lightship* She wan enae m cored ta Decern bar. Her atam serene, kstaon, stern posts and dead woods are at lira oak, fraase of white tm cuet sad oedar. planking onlaide ef white oak. Thla ram sal will sot he randy before the middle aT April. mJM MTUUKWt Tn Count or Ismon far the scanty ef Qneens win oonrena on the 98th lest, Jadge Armstrong presiding Mtaoma?A new lodge of Free sad Accepted Mesoaa haa boon ergsalaad at Astoria, L. t The esme ef the aew organisation la to be ?' Advance" Several promi nant men of the village are represented. ? Twa Hotrmwua fUnnoin ?It Is reported Cherttok, the Pmnldont ef the Lent Istand Reiiraad, haa pnrehaaod (torn 9*0.000 to (40.000 worth ef the Week I?f the htlMIlt Railroad. \{ the ramer be true we hare no doubt that the mad will be peeked ta com. ?peuoh. At present the work bar been eheadnasd. I Btrnoieae At WOML?The hqear stem of W H Howe, , IHggs Bsls?gg? ? rs-m TK53 VSLT* wU^^T-S I had a veloable home stolen the mm# evening. Ii is high I time that the residents of 1-ons leleed. espedaliy Qveeef I county, sstahihhed e rtgHanet as?Htae telnsh ?