North Carolina Newspapers

T i IK WEEK LY ERA t RALEIGH, N. C. TUUKSDAY, OCT. SO, 1873. : Tuore w In nCmoa bU lnoletice and viiltitiy, ! thookt th , rlcctloa f Liberty w liotioni of i ; ecta. Plctabc. Another Assassination Pro i posed Iiy the IMsuuioiiIstH. The declarations made by the Democrats of the South, to the effect that they are thoroughly loyal to the Union, merit n cremi. -ow nnd then we h:veanu Iterance from indicative of the mil spirit that ani mates it, and which conclusively s-hows that in their hearU of hearts the Democrats of the South aro dis union ists, detest i nr t ho povcru nient and Jutting- the ieoplu of tho other flections. . " . . An Illustration of this fact has recently occur ml in the State of .Missouri. A iion there named Harper advertises to bet a large .-urn of money that President Grant will be assassinated before the 10th day of April, 1S71, and the Caucas fUm newspaper, published at Lex ington, in that State, one of the leading journals of the disunion element at the South, in its editorial columns expresses the wish that the slid Harper may win the proposed wager, if any one should accept the offer. It is not necessary to the elabora tion of this argument to repeat the ribald and vindictive abuse which the editor of that paper heaps upon the head of President Grant. Our only Intention is to call attention to the naked facts in regard to this "farious projKteition. The tale needs no adorning, and the moral joints itself. Beyond all doubt there is a des perate, purpose on the part of cer tain Southern Democrats toattempt. the life of the President. Beaten, into submission on the opeu field of battle, these foes to the Union in thcir despair, prompted by cruel cowardice, took the lire of President Lincoln, employing a monomani ac's hand as their safe weapon. Beaten again at the polls, they are bent upon repeating the horrible tragedy. The Democratic party is respon sible for all this crime. Its teach ings of rule or ruin have produced these horrible villainies, these monstrous atrocities. It has al- w.ya hctmthe foe of freedom. It has always been ""the" tneinyotan equal Union. It has always hated the weak; and cringed to tind fawned upon the jtowerful. It has always been the steadfast friend to caste and class distinctions; while it has never favored the extension of Justice and protection totheioor ami If umble without regard to race, or color, or previous condition. Seeing that upon every side its am bitious aims have Ieeii b filed by the Republican party, preferring to it-iguiii hell rather than mtvc in lua ven, it has everywhere resorted to the incendiary's torch, the as sassin's knife, and in the dark, with a disguised face, sought to intiini 'elate its oppone'iits into .ilt ne-e anel inactivity. And now, forsooth, that the ! President bavins' shown his deter- ; i..:nnlio.i t . r...-ti out suei ti.:eg fr0m office. To this rule Mr. Deaver a t the Sout:., a. id having r s .r-d r.'-ionded, at Sratesviilo on Thurs ouler ai.d i-...-.-, i- im-- a d.-rire Jo tj iy a,Hi ., fLl investigation promote harmony, by pardoning a j,a(i before the presiding Judge number who have U-u tn. d, nm-j f tilP strict Court for Western victed and im-ant-rated l r tii. ir Xorth i ir.!in. erimcs, theso di-i;;i.o iMu i rats Taxing tin e -vidt lire of the priwc ;.l fnco grow Utd again; Ml -V-a rutiu jt ,: ,,,,u:.ted to this: first step in tli. ir new c-..r.-r of; j.:own hU;vwil pi-.d .Vts were I !ood, proj-ose i hat the Prudent : he-ard in the iii.-tuntMiii ; Mr. Draver :.;melf hall I- put o mi.th by aI., party rod through the Miiue murderous paltroon. ' lb-Ids -. iiu ' fi-nces elown, ut- We know that many in iritis who ,ir.yiiigaltoguiin r about a bushel have for years co-ocratcd with the f c-,rn;itho party paid for what IHiikk ratio arty are IS nil of this uvelryofearnagi-. They wi it seme: they stopped ;some of the men were higher iruition than homicide ' irunk and boisterous; so far as Mr. oral arson. Stu-h men owe it to D-aver was conce-rnetl he conducted tlumselves to :daudou the p:irty , hiuiHeif gentlemanly and courteous-o-ganization f the disunion De- jy b;fo.-e thoe w.i :ii he vi?it-.I ; ruocracy. As Inn-: as they remain ' M,i by permission of-Mr. Fred, in its rank-, so long are they the i Hutriiian he firetl his pistol eifT in silent cndor-K-rs and promoters of his yard for the purioso ofre'Ioad- .such villainies, . in, as it Ind failed to fire, Mr. Old Union men who re-main in j Deaver allejul, wht-n he was at and vote Villi ihat jmrty are with- tiiekt! from tho mountain, out Hiiy excuse whatever.' and i-rj Tle Kditor of -tlte Era does not aiders and abetter of an efTort to attach much imitortaiico to the evi overthrow tho Union. , deneo fur the defence, as the witr Ix'l ull who want peace and pros , Icrity,aU who In gooa raith have given up the exjicctatiem of ent- f inir in ine ouui a M:ie-iiouiiur - ! oligarchy, all who rvally aud truly i are loyal to the Federal Union, re- member that there is but one party I to which such men as themselves j may turn with confidence, and that : this is the Republican party. i The Revenue Scrvie-e Its Op pressions nuel Abuses. The investigation of the Deaver case, and the examination of divers I could have done all .tire firing pro alleged cases of illicit distilling, at j ven to have been heard. And let Statesville, last week, together with ' it Ik borne in mindthatthiscondu n general review of the conduct ofjsioais arrive! at without the ma the omcers oi me se rvice.iorces me conclusion that the Internal Rev enue system, as generally conducte el in North Carolina, and the South, i-taniniiKjeltlon on the government, anel an outrage on citizens of the Uu iteel State. We find deputy marshals, deputy j selves, it was made apparently im collectors, siccial agents, informers possible for Deaver and Pattrrson to and ppies, racing over the etiuntry, liaveeloae the firing, while it exmld leading siuaels of soldiers, pushing ! not hav been ln by any others down fenes, riding through corn-! of the party, as all of them wre fields, cutting up at people's houses, plainly in -tight of a witm-s-i ;'or tin and withal travelling Comnih-sio: - , prosecution all the time ; and s be ers to nrrest, try und bind over tho J fore stu:eslt the witnes.- fir the country as they to. i iwo-ei'iititui all agrev-d that there Xow and then a oor fellow is was a.itoiog improper or discourti- found in the attempt to convert a u.i:rTir -naurt ot Mr. Deaver little unmarketable grain Into ..., Mn.ir; vindication; by the fluid, and he is put through the mill witnesses summoned to testify of painsand wnHltles, for such cases i aginst hiii is satisfactory, and jiude und provided. 4 : j -"t be complete in the estimation Jjut iu the majority of cases per- of the public ' - ' - sons are arrested on trumped-up I These witnesses aro among the charges of illicit di'tilling, and so far bus the practice of manufactur ing ti-Mf iiiHiny and creating circum stances gone, that juries refuse to convict on the bare testimony of men paid so much a year as stand ing witnesses for the government, hence there are few convictions; snd these generally include that class of men too noor to defend themselves. Ttie spectacle is therefore pre sented of a great government, whose institutions are the pride of civili sation, whose strength and beauty are the admiration, and whose growth the wonder of the world, fighting and oppressing, with all the wer and machinery of its Courts, aided by suborned witness es, a populatiou of its people too poor to maintain themselves, ordi narily, against a constable's claim involving four shillings of cost. Under the system as it now is, con viction is the penalty, of weakness ami poverty; acquittal the reward of wealth and the applause.of strength. The member of Congress from this District, Hon. W. A. Smith, has pledged himself for the aboli tion of the entire Internal Revenue system. lie will.havc the support and carry the applause of the masses of the Republican party, and only encounter the opposition of a few I ofike-hoMcrs, Informers and spies. I . . 1 X 4 : . t t- 4 be totally abolished, and the Rev enue raised on imports. A high protective tariff and no Internal Revenue for the Republican party Bill Smith for the people, and Johnston county forever I The South-Mountain-Deaver- Aftair. On the sixth day of September, last, Win. II. Deaver, a Deputy United States Marshal, and acting Deputy Internal Revenue Collector, in search of illicit stills and distil lers, passed through the South Mountain section of Burke county, accompanied by another Deputy Marshal, a United States Commis sioner, a Lieutenant of the United States Army, and a file of United States soldiers. During the day Mr. Deaver jMiel Deputy Marshal Patterson became separated from the main body, and while a short distance from the others, stated that they were fired upon by a party of several men con cealed in ambush up the mountain. ' Reliable and good persons living in the neighborhood declared that they had heard no firing, other than eleven pistol shots, which one lady swears to have counted, and the people of the community believed, and swore they believed, that Mr. Deavr and his party had put in circulation a false report as to their being ambushed, and moreover, that, they had ridden through their fields of corn, tramping and destroy ing the crops, leaving the fences down, and otherwise acting in a most boisterous manner at the houses of such persons as they vis ited ; firing off pistols in the yard, which conduct, in one case, seriously V - rrrgrrt m V nr. to ning her to return to the chud-tnl from which she had but lately - risen ; that some of the party were drunk ; and the Commissioner was issuing warrants for whom he would and holding buzzard-roeist courts as he w-nt; and in one case- ,it was al-leg'.-d, a court of inquisition was forme! and the effort made to ex tract frcm a wife the whereabouts ! 0r ,t.r husband, Affidavits setting forth these j statements and this condition of ! things were made, and, by Hon. William A. Smith were laid before United States Marshal Douglas, at Greensboro, who promptly sus-l-nded Deputy Marshal Deaver, and e-a used Judge Dick to serve a ruie on him to show e-ause why he, De-aver, should not be removed thev irot at the houses at w hicii i m - introduced were directly in terette - d parties. But taking the investig-aiion In all its legitimate ieiirlnr anel nroneri v.eonsiuerine- - m all the circumsLuices, ?Jr. Deaver ha vindicate!' himself ' of the charges preferreel against him, and R must be believed that -he was fired on from the South Mountain, The evidence of any organized body i.iui. ivy tut; riii j-"'.-; ui 1 lllllu the Uuited States authorities was not established. Tw o or three men with a small illection of arms terial aid of the evidence for the do fence. The evidence for the prose cution establbiheel at lea-t eleven shot, as they were counted by ala dy at a elitaiu-e, ami even by her testimony t here may haw been more; by the-se witneM-s, them- best people of that section of coun try, and their evidence was given in a manner to inspire full faith and credit in their testimony, and while they declared both in their published affidavits and on the stand, their belief that Deputy Mar shal Deaver had not been fired up on by any one in their neighbor hood, yet the facts elicited and the circumstances detailed go 4o show that they were mistaken in their impressions of an affair about which they could have no positive knowl edge. The investigation developed no maliciousness on the part of the prosecution; the witnesses were fair and unprejudiced in their state ments; Marshal Douglas and Judge Dick had acted promptly and well in procuring and ordering tho in vestigation; and Mr. Deaver, his friends and the public all must le perfectly satisfietl at the result. The presence of a travelling Com missioner was not justified by the circumstances ; in the absence oi roads or paths the party possibly had excuse for passing through tht fields, and no wanton destruction was proven ; but the failure to put up the fences was criminal, though it does not appear hat Mr. Deaver was responsible for that failure. He wa, however, unwarrantably and improperly acting in the double capacity of a Marshal and a - Col lector, and- Mr. Douglas ought to see to this. The Editor of the Era went spe cially to Statesville to witness the investigation of this affair, and the above is as fair a statement as an unpredjudiced mind can make it, on hearing the casein all itseletails. Returned. After an absence of nearly two months, the Editor has returnee! to his post. After this week the .Era will give his impression of some of the places, persons and interests that came un der his ebservation during a some what extendeel tour in the Eastern and Western sections of the State. The Daily News, of this city, last week, made the astounding an nouncement that Mr. llearne had rotired from the Era, and gone to locate at Statesville. He had sim gly gone to Statesville to witness tho investigation of tho South-Mountain-Deaver affair before the Feeleral Court, speuding two and a half days in that delightful town, nnd, save the further absence above alluded to, the statement had no betterfoundation than a brief busi ness visit to a lively, pleasant and thriving town. With equal pro priety the Era might seize the occasion of Mr. Jordan Stone' vis-it to the Weldon Fair, and say that gentleman had withdrawn from the Raleigh News and Ioeatetl in Wel elon. The rumor that Mr. Hearnc had been superceded by Mr. Holden must have grown out of the fact that it had been determine! to strengthen theeditorial staff of the paper by the acquisition of the lat- iii- -fh, JVVir would do bettei to leave tho J-lra to make Its now announcements. Correction. In an article in eur last issue con cerning the Ohio election, the name of the Democratic candidate for Governor of that State was inad vertently misstated. It should have baen Hon. Wm. Allen instead of Hon. Wm. Cox. as it appeared. The article was written during the hurry of preparing for press by the tem porary change tie affairs. COMJIUNICATrONS. Secession. Democracy, Ctosar- ism Xc, . 7b the Editor of the Era: The people of this country are, and for some time have been pecu- liarlv blessed with the notes of warning, hooteel in doleful che.rus by the IX-nuK-ralic press, on the fu ture lamentable fate of this fair land of ours. It would be truly amusing, were it not so ridiculous, to watch the many artifices resorteel to by this party at "wealth and iiitelli gencef to regain their former place of power and confidence lost, for ever lst, by thrf bise betrayal of an hom-st, eoiitiding but outraged peo pi.. The white men are appealed to by the bug-hen rs of "Social Equality." The colore! people are approached by inciting their jeal ousy with the chanre of an unfair distribution of offices, and the whole people are continually made to hoar the " hu3 and cry" of " Canaris!!.,' and that the Republic is on the verge of an ?mpin. These and kindred subjects ad nan-eaum are the themes with which the public mind is kept constantly HKitUtd and constitute the substance of the Democratic stock in trade. Hue and cry," at this writing. What eloes it all mean? Let us see. In 1SGS, the canvass was fought square ut on the platform of the "White Man's Party." Foiled in this the Democratic party by its legislative oddress accepteel the sit uation, and publicly, though we do not believe sincerely, put them selves with the Republicans upon the platform of political equality Now we ask Did they fear social equality then? They, the wealthy and intelligent aristocracy burying the hatchet, accepting the situation and the status of the coleired man as a finality, extending the hand with gloves off in brotherly love "across the bloody chasm!" Oh I it was a glorious sight, unfit for mortal vision and we fear we shall never see the sequel, 'but we call uiKin ourfriends, who shudder much at the bare thought ef social equal ity," to explain the Beauregard new departure, which leaped far in ad vance of progressive Republican ideas, and offered a dose which the negroes themselves spurn, being nauseatel, and te-Il us why is It that the heroof .ManicA-as isstill the boon companion, and has the full confi dence and security of all the leaders if the original panel of the sece"ssion j Democracy? Oh I but that was a bold, hriiiiant, strategic movement it mut have b-n conceived in one of the " niar councils," over which the redoubtable Jubal Early presides. -But grand and brilliant as it was, the detested and ignorant negroes of Louisiana "saw the pint," inasmuch as it was to get possession of all the offices with all their atten dant, emoluments, and the whole thing died the death of miserable hypocrisy.and ended in a contempt ible farce. So much for social equality. J As to thelsecond bug bear, an un fair distribution of offices, we affirm that It is false in fact, and thecol- oreel people well know it ; and we ask the great party or weaun, etc., how many offices would they give the colored man had they the power of distribution ? This is one of the most insignificant of all their sub terfuges, and is an artifice so "thin" and o-mcinptible a not to deserve anv r. futation Bui that which at present most burdens the Democratic mind is Cwsarism and the coming "Empire. The wish is "parent to the thought," for some time since a prominent Democrat lu the presence of the writer of .this article, declared that when Grant, was proclaimed Em peror, he would toss his hat for joy. Imperial governments are found ed in the. nobility. Who are1, or will be, the nobility? The lordly land-owners, of course. Who are mainly the land-owners, or rather to which party does the wealth, etc., belong? The question needs no answer. It answers itself. The establishment of an Imperial gov ernment In this country relying for its strength and support on the lord ly land-owners would be more nearly like the former governments of the Southern slaveholding States than the present system of govern ment, and such a government is to them the mot desirable of all earth ly attainable objects. Such a gov ernment would be substantially a resurrection of the old feudal system when the vassal on bended knees, with hands uplifted, swore eternal fealty to his lord. With their minds eye upon this goal of all earthly hopes, when Frank Blair expre ssed his desire to clear the balls of Con gress with the bayonet, they thought the happy time soon coming, and the forethought of such a happy consummation, thrilled with joy unspeakable every Democratic soul of the South. This is Cawarism, and it occurs to us that if it should be established (which it never will) the South would be a nice country for colored people to live in (?) or even white men with Republican principles. But no; the white men of the South will have nothing but a Republican government. The black men will have nothing else. Social equality the black man does not want, but political and civil equality he does want, and he shall hace it. In conclusion, we ask the old Union men of '01 to lo-.c around them and tell us if the leaders or the old secession " Rale and Ruin" nartvof 'Gl are not the lenders of , rf iouwiiuu i iu!iiH,i.M . ! AA. . U - F. . V t t . . . V 1 . V iorceu line) n 10 ugui. ivi uc man s son "twenty i exempted unuer tne o l-.iw vfiii u-hn came home to your suuering wives nd children, aud were hunted unci j produee that effect as certainly hounded down like wild bey yu 'thoaWnot so rapidly. But such who are the kinsmen of those who has certainly been the fact. The were shot li WTe.ona for refuSins to flHlng- fight for a cause which they bel leved Aj)riIj 1S7(Jt an'(I wouid doubtless to be founded in fraud, conceived iiave fallen still further if it had in sin and born in iniquity ;" you, not been hindered by the large Eu ot while -.wM .... !.,- tal & gjjo, cratic party, lighting the Cuiiiemf-. time;in an elaborate article, that ate war over again under the ui.-c ( llie f.jj n general prices had stead of politics. This is a pertinent in- j iiy kept pace with the decline in quiry. Take it to heart, ponder ?!fl premium., Economist, March quwy. c lIiii -3, 1870. othlngelseln such cir- over it, and determine that you will ,',1,3, coud have happened hurl from power and forever silence consistently with established mone the old secession party, its leaders, ! tary laws. The trade and transac- it o,VlAMnflRhfittors. As our fore- fathers fought for and gained their independence, so have the reuits of the late war, contrary to the pre -conceived intention of its origina tors, established the Union in l.onu.-s indissoluble. Then let tin so of u.- who have had enough 01 secession ; and enough of war fall into llepub- ,. 1 1 1 . . ... .hn1 hcan ranks, and keep step to the, music of tho Union, and preserve in its original purity that priceless'! legacy of our revolutionary sres a Republican form of government. Hamiltonian. To the Editor of The Era: Please give me space in your pa per to speak a few w ords in relation to the great Tem perance movement now on foot, in the gooelOld North State, more espe-cially in Eastern North Carolina. I must say that great gootl has been accomplished ,among the color ed people through the efforts of one who has given his time and talent, to elevate his race to a higher stan dard. That man is the Hon. Ed ward R. Dudley of Craven county, Mr. Dudley through his lectures ami erganizing societies has done more to elevate his people morally. socially ml intellectually thaumiy other man that has beenamongour people ; and we are glad to see that the people in the second Congres sional District intend to reward him for his services by sending him to Congress ; next year. I see in looking over the Newbern Dai ly Times of la-t week, that Mr. Dudley is spoken of as a canditiate for Congress ; and the good old county of Lenoir neconds that mo tion and calls for the question. E. R. Dudley is our next -choice for Congress lrom this the second Con gressional District. Kinston, Oct, 2"th 1S73. TolheEtliloroftheEra: The financial condition of North Carolina at the present lime, is more embarrassed than one who travels less than I do, would sup- pose, in panu-s, nice ine present, we should keep an eye to the in terest of the farmers and business men who have had nothing to do with bringing on this trouble. Dreadful diseases require prompt treatment, and to this end would t not be well for our Governor to convene the Legislature so that a Stay I jaw may be passed that will not allow mortgages to be foreclosed, exemptions to be pushed, and our people ruined financially? We ism discuss the ; constitutionality of the act after the banks lagin to dis count. Yours, i . . "L. ' . Salisbury, N. C, Oct. 22, '73. A young lady in Kenton, Ohio, was recently admitted to practice at the bar of that city. The Lessons of The Monetary ' : ..Crisis. : ': - London Economist, September 27. Thp ocant. r fhA nresent mono- tary crisis in America, incomplete as they are, and Imperfectly as they are known to usr are yet fraught with most instrucuve iesson. crisis is one of tho most singular which has ever occurrea, oecaus the monetary conditions in which it has happened are extremely pe culiar. The American money laws are very remarkable, and there is much to be learnt from them by way of warning if not of imita tion. .- - . ,. As it is well known, the existing legal-tender currency now in Amer ea la nm. irreenbacks." that 13 to sfixr. nf nnnvertable paper notes issued hvth Government. They wer first. 5csuad in 1862. by the Government of Mr. Lincoln, as a measure of war finances, and they have existed ever since, as it has been imnnscible to get rid of them. Thisisho nitiinate currency, the only one which an unwilling per son can in any manner be forced to accept. And in these greenbacks (or specie, as to which we will sneak nrpspntly,) the law requires that banks in ordinary places shall hold 15 per cent, or their liabilities, anu in certsm jiuiuj;id vines, vji which New York is the most im portant, as much as 25 per cent. The liabilities for this purpose In clude nnt nn!v the note circulation of the banks, but the banking de- )OSits also. I me noxe circulation ms indeed,,in another respect, an advantage fctrerthe deposits ; a spe cific securty of Government stock is lodgn&jrhem.but ot for the deposits, but as respects the propor tion of pS1 tenders which it is in cumbent on the bank to keep the two arf on a footing strictly equal. Tn Tn?rlanfl nre now ivelr aware how a proper proportion of reserve to liabilities is to be main tained. A country which lias a cur rency of gold or silver, needs only sufficiently to; raise the rate of in terest to attract those metals from the whole world. There is always enough for those who will pay the market price for them. But in the case of a currency of inconvertible paper all this is le versed. Its na ture is artificial and its quantity is strictly limited. That which tie fJnvprnrtifnf. issues is all which therecan br. Raising the rate of interest will procure no am irom abroad, for foreign nations have not, and cannot' have, any supply to senel. The,' Government of the United States, we believe, because it is arixiots to raise the currency to a spi cie level, has for some time past consistently refused to aug ment the amount of greenbacks in circulation. The legal amount that can be issued is, exclusive of a sum of $14,000,000, of which it is not necessary tio speak now, $356,000, 000 or G5,tG5,000, and that is the sum in actkial circulation. Proba bly, indeee! the United States Gov ernment eld not see the entire ef fect of the r policy. Congress was very anxibus that the country should notjbe straitened for curren cy. It wis more ready to bear the evils of depreciated currency than i to make the effort necessary to j cnuse tl:e currency to appreciate. ' In fact, we may assume that it shrank from the prospect of that ef- j f t pJfore 18G8 a certain red uc- I thm in :he amount of the paper cur- rency lid been made by the Lxec- ry i nmmhiliTif? anv sucn contraction. - -I t 1 1 1 i. I ..J , They flired there might be a reduc tion of trices and a deficiency in money.! But they aid not perceive that thefnero maintenance of the . sth)( amount Gf paptT would "ons oi ine uuuni oiai a.e rapidly augmenting and they re quire an augmenting currency. Every "fall," for example that is, every harvest the amount of corn to he "moved" becomes greater and greater, and the amount of cur rency requisite for the transactions steadrly augments. In consequence prices fall, and that of gold among the rest. - -'" ems is quue njriiwum ua it . A country which de- t it . - " i 1 : a. j predates its currency seems for a long lime to be usually prosperous, and has all the feeling: of beimr so. Everybody seems to be getting richer because prices rise ; money is easily obtained because the rate of interest is low. Rut that seeming prosperity is purchased at a great price ; as soon as it becomes neces sary to raise again the paper curren cy to the specie level the precisely opposite state of things eccurs. Low prices, scarce money, and de pressed trade are the proper punish ment of artificial inflation and ex cessive naner money. iiut w hat is not as it snouiu oe is that there should be a deficiency in the cash basis of Credit. No doubt under such circumstancesthe defi ciency is exceedingly natural. The li Abilities, both on deposits and on notes, if the banks are allowed to is sue them, are naturally augment ing, and they ought to retain acon tinually augmenting reserve of cash as a guarantee of credit and means of liquidating those liabili ties if required. . Upon a m eta lie ciirrpncv this augmenting reserve can be replenished from the store of the precious metals in the whole world. But under a' system of in convertible r paper of limited amount, there is no such compre hensive field in which to seek, the ..1,;- of replenishment. The mpans of augmentation are strictly connneo -:;.: " ;, iCt monnt of currency issued by Vhl Government. The difficulty of sound banking,therefore,i3 extreme in a country where a paper curren cy of fixed volume ii the sole legal tender while trade is quickly ex tending and transactions rapidly multiplying- How are the banks to maintain their reserve of "legal tender" paper? They must bid r.,- it np-flinst the tradins: communi- ,..thtv must raise the rates of i!.rpstbothfor the money which Is lodged with them ' and for that ,hinh thev lend. They must get in as much as possible and let out r.c littift as oossioie. uuv iuib j not easy in community which is already straitened for currency, and where many transactions, ,Mrh would ordinarily be profita ble, are hindered or prevented by the want of it. And still less is it agreeable to the banks, for it means that they are to lessen their profitson both side at quce they are to pay more interest for the money they recieve aud lend less, and so recieve interest on a small er sum. In P tni3 diminution of banking profit will be counter balanced completely, because the amount 011 the loans on which the banks charge is always less than that of the deposits on which they iay. The process is ona of torture to the customers of the bank, and of disputable profit, possibly even of loss, to the bank itself, and therefore it is a process very rarely set into full action. A time of rap idly appreciating currency is al ways JiKeiy iu uh ouo ui utiiuicii w bank: reserves, and therefore of un- j steady credit ; and it is more likely to be so when the currency so ap preciating is an artificial currency peculiar to the particular country where the depreciation -happens, and not a natural currency used "by and capable of being supplied from the who e world. The American law which prescribes the amount of banking Yeserve which particu lar banks are to keep attempts to solve this difficulty. If it could be maintained and acted on, banks would always be obliged to begin this process, however difficult, and their customers would be oblged to endure it, however painful. In that case there would always bean ample reserve. But, in fact, it can not be observed. We showed in December last year that the reserve then held by the New York banks was not as much as the law requir ed. The deficiency was not great, but the principle was important; it showed the difficulty of maintain ing the law. By the last account which has reached Europe in detail the comparison of liabilities and re serves was as follows: Deposits $212,772,000 Circulation 27,335,000 39,008,000 5,015,000 Total $240,127,000 44,023,000 Against reserve of Specie 21,767,000 3,991,000 Legal tenders 38,679,000 7,091,000 Total $60,446,000 11.082,000 Converting the dollar at 3s. 8d. Which is just within the mark. But there is this unfortunate pecu liarity about it, "specie" is more than one-third of the reserve, and specie is of no use in time of panic. Gold has a high and fluctuating premium as compared with papers; if a bank were to begin to pay its liabilities in speeie.lt would be drained of its speclo, , Immediately. If for a 100 debt contracted and by law required to be repaid only in paper, the bank were to pay 1000 in gold gold being a premium fluctuating from iO to 16 the bank would be trivins: a bonus of from 10 to 16 per cent, as a favor to those of its customers who joined in a run upon it. It would not be repaying its debts, it would be overpayin them; and any bank or system of ban us which in soabsurcda manner stimulated a demand upon it could not last loiiir. however strong mijrht be. The real condition of the New York banks by their last published return was, that they were just, and only just, within their legal limit of reserve, bntthat a large part of that reserve wa3 held in a form which would make it useless if it was ever wanted The dane-er of such a srate of things to the credit of the New York banks is plain. A law which prescribes a comouisorv 1111111 01 reservo must always be subject to very grave ob iections. The moment the banks approach the legal limitthe public begins to take alarm. The election in Iowa has devel oped some singular facts. The re sult was decided more by local than by political considerations ; in tact the Democracy Having lor years been almost entirely inactive, sitve in a few counties in that State. A correspondent of the Chicago Inter- Ocean gives a curious account of how things was done in Iowa, as follows: " Every Iowa county seat has had its coterie of politicians, manipula tors of the official wires, and setters- up and pullers-down ot candidates Itis probable that at least nine coun ties out of every ten were under the control of such a management, and the special purpose of the Iowa elec tion this year was to break up these combinations. In the Grundy coun ty district there was a railway ring ; in Warren county it was a fight between the county seat and the country; in Guthrie it was a county seat question ; in Wapello, a pitched cattle oetweten tne grangers and anti-grangers. This list might be exteuueu almost indefinitely, but enough has been stated to show that the contest was mainly on local issues aud against local rings. There was nothing like consistency in the voting. Senator West, of nenry- county, nas been the leader ot the grangers in the Legislature ever since the grangers were estab- lisneu, nor nas ne ever done any thing to forfeit their regard or con fidence. A strong man in the Sen ate, an active Patron, and a man of staunch integrity, he was defeated by grange votes. In another county, where a railway was beine built. ine grange voieu almost unani mously with the railway party. endeavoring to defeat one of their own number. In these incongrui ties, unpleasant as tney may appear, lies the future hope 01" the Patrons, for they show that there is no rea sonable hope of making the organ ization a political party." Wil. Post. Fake Their Advice. Young people refuse the atlvice of t parents. They say 44 Father is their over suspicious, ana motner is getting old." Rut those parents have been on the sea of life. They know where the storms sleep, and during their voyage have seen a thousanel bat tered hulks marking the place where beauty burned, and intellect foundered, and morality sank. They are old sailors, having an swered many a signal of distress, antl entlured great stress of weather, and gone scudding under bare poles ; and the old folks know w hat they are talking about. A woman in Venice, aged 90, has had her third set of new teeth. Go it while you're young. OFFICIAL. SEfJOND ADDITIONAL CONVENTION -. ": Tn Tin- " ' - "'-1 Postal Convention of August 21, 186, Hetween the United States of Amer ca and Belgium. The General Post-Offlce of the United States and the Postal Ad ministration of Belgium having rec ognized the propriety of reducing the rates of postage nxea by tne convention of 21M; August, 1807, ana by the additional convention of 1st March, 1870, the undersigned, duly authorized by their respective go v ernuients, have agreed upon the following articles: ; Article 1. The international single rate upon letters exchanged in direct mails, via Great Britain, between Belgium and the United States, is fixed as follows: 1. At 40 centimes for prepaid iet- ters originating in Belgium. 2. At 8 cents for prepaid letters originating in the United States. Article 2. The international single rate for prepaid letters sent by the direct steamship lines to be established be tween the two countries, in con formity with article six of the con vention of 21st August, I8G7, is fixed at 30 centimes for letters sent from Belgium, and at0 cents lor letters sent from the United States, of which 40 centimes (2 cents) shall represent the sea-postage. Article 3. When one of the two contracting offices shall consider it advisable to exchange closed mails with a for eign country to which these offices may respectively serve as interme diaries by the direct packets which the other contracting office shall have established between Belgium and the United States, it shall pay to the other office, for the maritime transportation of said mails, be tween Belerian ports and-those of the United States, a fixed fee of: 1. Three cents (15 centimes) per 30 kilograms for letters. , 2. Ten cents (50 centimes) per kilogram for other correspondence. And the same rates of sea-postage are also fixed for the closed mails conveyeel by any line of direct mail-steamers between the two countries. Article 1. ; The present convention shall be consielered as additional to those of August 21, 1867, and March 1, 1870, and shall take effect from the date agreed upon by the two administra tions. Dono in duplicate and signed in Washington this 9th day of May, seal. JNO. A. CRESWELL., Postmaster-General of the U. S. seal. MAURICE DELJ?OS3E. I hereby approve the aforeeroincr convention, and in testimony thereof x nave caused tne seal or the United States to be affixed. seal. - U. S. GRANT. By the Presidsnt: Hamilton Fish, Secretary of Slate. Washington, May 12, 1873. DETAILED REGULATIONS AGREED UPON Between the Posl-Qffice of the Uni ted States and tlie Postal Adminis tration of Norway for the Execution of the Postal Convention of the 15th of March, 1873, between the United States of America and the King doms of Sweden and Norway. Article 1. The American exchange offices of New York and Chicago shall make up mails for theNorwegian exchange offices of Christianssand, Christiana. Bergen, anel the sea pot-offlce, on the steamboat line between Ham mer fest and Hamburg. The latter shall make up mails for the exchange offices of New York and Chicago. Article 2. Each mail exchanged between the two countries shall be accompa nied by a letterJaill, showing the postages on each class of correspon dence, the number of register fee3, total weight of correspondence, &c. The form of this letter-bill shall follow the models Al and A2, here to annexed, and shall be consecu tively numbered by the dispatch ing office during each quarter of the calendar year. , The receivincr office shall ac knowledge its receipt by the next dispatch. Article 3. The exchange offices shall divide the correspondence which they dis Datch into a suitable number of sep-; arate Dackaes. according to the letter-bill. Each of these packages shall bear the proper etiquette and numbers corresponding to the letter-Din. Article 4. When more than a single rate is chargeable upon any letter or other article, the number of rates to which it is subject shall be indicated by the dispatching office by a figure in the upper left corner of the address. Article 5. Registered correspondence shall be described in a register-list, fol lowing the models Bl and B2, here to annexed. All registered letters and the register-list shall be enveloped together in strong paper, and securely fas tenetl, and the packet plainly in scribed with the word "legisted or Register et " and. placed in the mail. The blank iu the registered-letter list for expressing the number of registered articles shall be filled in letters and figures expressiug the number. In case no registered ar ticles are sent, the proper blank of the letter-bill shall he filled with the word "NiMl" or "Nil." - Article C. The register-lists dispatched shall be retained by the receiving office, which office shall acknowledge by the first mail the receipt of the reg istered articles, numerically, from No to No If the verication by the exchange office disclose an error of any kind in the register-list, it shall be, also, by the first mail, notified to the dis patching office. Article 7. The two administrations mutual ly engage to take all needful meas ures for the careful transmission of registered correspondence, and for pursuing it when lost ; but it is un derstood that neither assumes to wards the other any pecuniary re sponsibility in case of loss. Article 8. All letters exchanged between the two countries shall indicate by stamp or writing thereon, the office of origin : and the unpaid letters so exchanged shall also be stamped with name 01 the despatching office or exchange. Correspondence fully paid to des tination shall be stamped in the United States "Paid all,'" and in Norway " Franco." Hegistered articles shall be stamp ed "Eeaistered" in the United States, and " Anbefalet" in Norway. Correspondence insufficiently paia shall be stamped in the United States "Insufficiently paid," and in Norway " UtUstrakkeligtfrankerad," and the amount of deficient postage expressed in figures, (black) on the face. Correspondence dispatched by a direct line between the respective countries shall be stamped "Direct service," or "Service direct." ' When dispatched via England or via Germany, it shall be stamp ed to indicate British or German transit. Article 9. '- The respective Postal Adminis trations are mutually 10 jummn each other with lists stating the foremen countries to which the for eign postage, and tho amount there of must he absolutely prepaid, or can be left unpaid, anel until sucn lists are funished, neither country is to mail to the other any corres pondenco for foreign countries be yond the country to which the mail is sent. Such lists shall also indicate the foreign countries with which regis tered correspondence may be ex changed in the open mails between the several offices, and the condi tions thereof. Article 10. The respective exchange offices shall mark, in red ink, in the upper corner of the address, attheright- nanu, ot prepaia letters sent for transit in the open mail, the amount ef the extra-national postage due to ihe country through which the same are forwarded; and in the same manner and place, but in black ink, shall mark the amount of the extra-national ?postase due to the forwarding country upon the un paid letters sent in transit. Article 11. Articles under band which do not conform to the conditions mention ed in Article 11 of the Convention, or which are in no part prepaid. shall be retained by the aelminis- tration of origin, and shall remain subject to its disposal. Article 12. Letters originating in, or destin ed for, foreign countries, sent in the open mail, for transit through the United States, or through Norway, and which are insufficiently paid, shall be transmitted as wholly un paid, an no account taken between the respective administrations of the amount prepaid. Article 13. Letters and all registered articles not deliverable shall be respectively returned to the dispatching admin istration at the end of every month, (see exhibits CI and C2,) but all other articles of correspondence, not registered, which from any cause, cannot . be delivered, shall be re tained at the disposition of the re ceiving country. The unpaid postages on the let ters so returned shall be deducted from the account against the office originally charged therewith. The prepaid postages on the let ters so returned shall remain in the account as originally entered. ; The expense of transit of unpaid correspondence . whi ih has been transported by either administra tion in closed mails, and shall be returned to the dispatching office as not deliverable, shall be deducted from the original amount charged for transit upon a declaration of the amount by the office claiming the deduction. No charge shall be made by either administration for the transit of correspondence returned as not deliverable. Article 14. , All correspondence wrongly ad dressed or missent shall be returned without delay by the receiving of fice to the exchange office which dispatched it. The receiving office shall also cor rect, accordingly, in the column of verification, the original entries of the letter-bill relating to such cor respondence. The articles of a like nature addressed to persons who have changed their residence shall be mutually forwarded or returned, charged with the rate that would have been paid at the first destina tion. . , Article 15. i Tho dispatching exchange office shall state on the letter-bills (for the convenience of the transit account) the exact , number or single rates and weight of letters and the totnl weight of the other correspondence which ehall be dispatched in closed mails by the British or by the Ger man transit. V -,1 Article 16. f It is understood that the accounts between the two offices shall be es tablished on the respective letter bills, in the proper money of the dispatching office, but the interna tional postages on tho unpaid let ters, or insufficiently paid letters. shall be computed iu the money of . 1 . i tne receiving omce. The reduction of these moneys shall be effected in the general ac counts at the rate of 112 skillings of Norway, for one dollar of the uni ted States. In entering on the letter-bills the international postages en the partly paid letters in the money of the re ceiving omce, ana tne loreign charges in the money of the dis patching office, the cent of the Uni ted States shall be considered as the equivalent of 11 sksllingof Norway. It is also understood that the quarterly accounts shall be paid re spectively in coin, ana in the de nominations of the money of the ereturor omce. Article 17. The quarterly accounts mention ed in article 13 of the Convention shall be prepared by the respective Postal Administrations. They shall Le based upon the acknowledgments oMeceipt, and shall respectively be prepared according to the models Dl and D2 A recapitulation of these accoun ts showing the definitive result, alike for the debit and the credit, shall be prepared by the United States office according to the form hereto annex ed and, marked E ; and shall then be transmitted with the quarterly accounts on which it is based, for the examination of the other office. Done in duplicate and signed at Washington this 26th clay of June. 1873, and at Christiania, this 31st da v of May, 1873. JNO. A. J. CRESWELL, Postmaster-General. W. JOHANSEN. Note. The tables of the forms, referred to in the above, is omitted by the direction of the Secretary of the united states. Printer. IN BANKRUPTCY. XfOTICE IS HEREBY GIVEN. Th;it a petition has been filed in the District Court of the United States for tho Eastern District of North Carolina by Hasoni II. Biggs, of Nash coun ty, in said District, duly declared a Bankrupt under the Act of Congress of March 2d, 1867, for. a discharg and certificate thereof fmm all his debti and other claims provable under saie Act: That Ihe iI5th day of Oct-1.1873 at in o clock, A. M., at the omce of A W. Shaffer, Register in Bankruptcy, ir. Raleigh, N. C, is assigned for the hear ing ot tho same, when and where al creditors, w ho have proved their debts and other persons in interest may at tend and show cause, if any they have, why the prayer of tho said netitioner should not be granted. And that the second and third meetings will be held at the same time and place. New Berne, N. C., e)ct. 13th, 1873. 18 2t GEO. E. TINKER, Clerk. Dossey Battle, Attorney. - N OTICE IS HEREBY eJIVEN. That a petition has been filed in tho District Court ot the United States for the. Eastern District ol North Carolina. by N. v. Strickland, of Nash county, in said Ditrict. duly declared a Bankrupt under the Act of Congress of Aiarcn zu, ioo, ior uiscnarge aud cer tificate thereof froniv all his debts and other claims provable under said Act. and that the 25th day of Oct., 1873, at 10 o'clock, A. M., at the olllce of A. w ftnaner, register in lJ;ikruptcy, lu Ra leigh, N. C, is assigned for the hearing of the same, when and where all credi tors, who have proved heir debts, and other persons in interest may attend ana snow cause, if any they have, why the prayer of the said petitioner should not be granted. And that the second and third meetings will be held at the same time and place. New Berne, N. C, Oct. 13th, 1873. IS 2t GEO. E. TINKER, Clerk W. J. Rasderry, Attorney. TWILL, SELL. TO THE HIGHEST JL bidder for cash, at the Court House door, in Raleigh, N. C., on Satiuday th 27th , day of September. 1873, at, 12 o'clock, iioon, tho notes, accounts, and chosen fit property ot Lmekin O. Batton, bankrup-. Also at the same time and place the nofes and choses in aqtiorrttie property. Also at the same title and Dlaee th open accounts and chowesin action the property of John W. Pfrry, Bankrupt. THOMAS HAMPcON. 14-w3w P. Oi Raleigh, N. C. TO WHOM IT MAY CONCERN: The undersigned lerebv cives nntira oi ins appointment as AKsiimoa r x arry w. wyche. oriienderson. In th county of Granvilleand State of North t-aronna, within sal District, who has Deen adjudged a fan k runt u do n his own Petition, by tie District Court of said District. Dated Raleigh. e:t. 4th, 1873 THOMAS HAMPSON, Assignee. 18-St fl O. Raleigh, N. C. TO WHOM ITJMAY CONCERN: Theundersifiriad hereby gives notice of his appointment as Assignee of Clem ent Richardson, ff Sel ma, in the county of Johnston and Btate of North Carolina, within said Dirict. who has been ad judged a Bankrupt upon his own peti tion by tho District court oi saia dis trict, . - J. W. VICK, Assignee, 18 3t P. O. Sel ma, Johnston, Co. Dated Selma. Oct. 15th, 1873. rno WHOM IT MAY CONCERN: JLTheu undersigned hereby gives notice of his appointment as assignee of Wm. Mann, of Apex, in the county of Wake, and State of North Carolina, within said District, who haa been ad judged a Bankrupt upon his own peti tion by the District Court of said Dis trict. " Dated Raleigh, Oc. 4th, 1873. THOMAS HAM PSON, Assignee, 18-3t P. Q Raleigh. N. C. TO WHOM IT MAY CONCERN: The undersigned hereby gives notice of his appointment as Assignee of Jo seph H. Bland, of Raleigh, in the county of Wake.and Stateof North Caro lina, within said District, who has been adjudged a Bankrupt upon his own petition by the District Court of said District. r Dated Raleigh, Oct. 10th, 1873. THOMAS HAMPSON, Assignee, 18-3t 10. Raleigh, N. C. . PROSPECTUS. , ) ' ' " ' f I . M h s. ' r i i I The 'Mechanics aud Working. ,"''" mens' Journal. A company has been formed, mainly of. Workirigmen, for the publication of a weekly paper, in the City of Ralefe!, to Ie styled : The Mechanics' and Working mens' Journal. ' The object of The Journal, In general, will be to forward the In terest of that class of citizens who labor for their bread, whether as manual laborers merely, or 'as skill ed workmen. " ' It will advocate the organization of associations among .the different laboring classes, not for aggressive purposses, but as a measure of self protection, and for their advance ment in moral and Intellectual cul ture. In the grand inarch of civiliza tion, and tho rapid development of every material interest, now mak ing, classes of Interest assimilating each other In character, and which are brought) n conflict with those of a different sort, have, of neces sity, combined for mutual protec tion. We find, therefore, every where combinations.. They exist among the Railroads, Telegraph Companies, the Banks, the Manu facturer of Sewing "Machines and other articles, the learned profes sions, and among the farmers, the last being called the Patrons of Hus bandry. In almost every depart ment of industry and enterprize there seems to be a practical recog nition of the principle, that in com bination there is security, "in union thero is strength." Concert of purpose and definite plan of conduct, necessary at all times among working-men, Is ren dered still more imperative by these numerous assdefat Jons amon". the vast inonej-ed Interest of tiecoun try Though the influence exerteel by the laboring men on the general prosperity of communitlejs ami States is all-powerful, yet, without community of understanding, nnd combination of effort among them selves, it Is Individual and slight as regards their own Interests ; nnd the benefits flowing from their la bors are attracted, in a large meas ure to enhance the value of cap! j Many of the disadvantages hence resulting to the working-men may be avoided by fabor unions. But in order that they may bo properly organized and maintained it is in e essarythat there should be a cen tral, laboring-mans organ through which he may express his xh wa and be heard, and derive informa tion in regard to affairs ill general. Such The Journal will endeaver to be. It will make no war on cap'tal, but will endeavor to produce that-- harmony of operation between mo ney and muscle that will secure the greatest good to both. It will be the organ of no politi cal party, nor will it be a nartizah journal. It will, however, have definite views on questions of public policy so far us they concern the in terests of the laboring classes, and will express them ; and when called upon, will discuss questions of State policy in a spirit of fairness and ' truth. It will avoid, alwnvs. e-a-' : pricious comment, factious opjMwi tion and detractive allusions; and will observe, always, the amenities of dignified journalism. Both in editorial and selected matter, con stant regard will be had to the e nd it has proposed, the amelioration and elevation of the condition of those who expend muscle and vi tality in an honest endeavor to live. The mechanical arrangement of The Journal will be neat and at tractive, and its matter of a crenend and instructive character. It is the purpose of the publishers to make it, in every particular, a desirable ' 4?aper, and one that may be profit- aoiy reaa oy every one. Tlvy aalccf the nublic un unpre judiced judgtnent as1 to its iiK-nu, ana a support commensurate with its deserts and the laudable ends it has in view. Terms Cash in Advance. Per annum $2,H Six months ' 1,00 ADVI2UTISE3IEXTS. . N TICK! We have thU day diHiMmed of our entire Book and Job Printing Ktnl- lishnient to Mcusra. (JO It MA N, MA It- COM it LK1J, together with all book, accounts, notes, and other -!uimn iu the establishment. The new firm will also settle all claim owing by us, by note, account, or otherwise. JOHN NICHOLS. Sept. Cth, 1S73. The undersigned will contiuuo th Book and Job Printing BulneKn, un der the firm, name and style of UOlt MAN, MAItCOMJ: LEU, and rN-t-fully solicit a continuance of tho lit i hI patronage heretofore bestowed on thin establishment by the public. jbu.e'. ;oiima', JOHN V. TIAItC'O.TI, CHAIILi: Km L.KK. 3-tf NAT. L. BROWN', Dealer In ' V FANCY GOODS, TOYS, BASKETS, FIDDLE STRINGS, T CONFECTIONERIES, CANNED GOODS. MUSICALINSTKUMENTS, f JELLIES, PICKLES, f Cakes, Cif ar and Tobacco. Don't ff ,ri el Brown's Variety Store', RALEIGH, N. C. ItALEIGII, N. C. ' BLAIR'S NATIONAL HOTEL. This new nrv1 kiMUkl.Hatalta Vent In a style far unywrlof to uny house In lwleluh. xerm moderate. J. M. r.LAIH, rrorrietor, -iFormerly of the YarboroUKh Hon ho and l'.lalr Hohm, 1 tf ' lUlelgh.N.e'. S. T. JLX ARJWSON , UbniOC3l nnrl Rofail (Zrnrr " v4iue,Gi, CORNER CP Fayettevill and martin Street- RALEIGH, X. C. Keeps eonatOMlly om hand a full stock f COFFEE, SUGAR, MOLASSES, TEA, SYRUP, , fisii; HACONt LARD, MEAL, 1 STARCH, f SOAP, ALSO , Hats, Caps. Boots, Shoes, &c. No better bargains can bo had in the city of Raleigh. Give us a call, ami K t a good article at a low price: 8. D. HARRISON. Raleigh! Sept., IS, 1S73. v 1- NOUFLKUT lUNSTOr, BOOT AND SHOE MAKER, CORNER OP Cabarrus and McDowell Street, : .. , 'RALEIGH, N. C. IS NOW PREPARED TO DO A LU kinds of work in his line with ",Hl ness and dispatch. Raleigh, Sept. 18th, 1873. 1 " i W.W.JONKS. ARMISTRADJONK JONES & JONES. Attorneys t Law, Practice In the Supreme -mrtof 't J? the District nnd CHrwiit - irt of Ufi ' ted States anl the several .touruot Ui? wu Judicial District. , ihm I K, ,H. 1411. Vj. -Offlce on Kaveitevll.i- sir' 1-1 m onnuoaR. .