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All Sorts Of Pen-scratches

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A LETTF.r. in anothor column frota President Grant gives it to be understood . that tho 80-oaíled reserve of $44,000,000 will be used to meet tho curren t exp of the government if noccssary, the othuï Funda beingtfVs exhausta! in purchasing bonds, paying interest, etc. Is this the "reserve" in such disputo at tin; last sossion of Congress, made up of retired groenbaeks, whioh it was elainied liy the Sonate Finalice Committee the Secretary of the Treaxury had Ho right to re-issue under any ciioumstahces '? If soit muy be well foi Seoretary liichardson to pause' It is not yet a sottled quagtion tb at the government has or say ovght to have the power to interiore in the flnancial affaire of the people, - buil and besr. in WttH strefit, - and illegal action even to afford temporary rolief is a bad precedent. - D. Preston, of Detroit having issned a oard since the recent suspension and announcing his eontemplated reopening, commencing : " Whatis theout-look? It's good. There's light ahead ; there's in God; there's wealth injesug; there's power in prayur;" with more of the game sort in the middle and at the end, it is told that a citizen dropped into the bank after resumption, looked around, manifested some surprise at the familiar appearance of things, and finally said, " I see, Mr. Preston, you have the sanio clerks." Mr. P responded, " of course, you didn't expect us to change clerks did your" and the rejoindèr was, "why, yes, 1 supposed that you would have Christ and his Apostles now." The natural effectbf sandwiohingone'sfaith and práyers into a business card. - The Chicago Tribune, claims that the United States Treasury is nearly ernpty and that bankruptcy stares the governmont in the face. It alleges that the moneys on hand, with the internal revenue and custom reoeipts, will be insufficient to meet the curront expenses and pay the November and Janunry interest. It says that iinmediate legislation is necessary.and thatsuch legislation should be a re-adjustment of the tariff on a r, ,; - m;basis. The tariffduties must be levied for revenue instead of proteetion, that is on such articles as will give money to the governraent instead of totlie manufacturen. In whioh case at least some gnod will come from the crisis. - In a recent speech Sen atoi Carpenter said, " What is called ' proteetion' to the manufacturors of i ron or woolen cloths, is in siibstance raising money by taxation, and paying it as a bounty to the manufacturar. The immediato result is to inerease the cost of the manuf&ctured article." Yct Senator Carpenter and the politicians with whom he acts .favor such "proteetion:" that is favor taxing the large body of consumera throughout the country to enrich the manufacturera Isn't it time for " every tub to stand on its own bottom." - Notwithstanding llepubliean con ventions fail to denounco the President tbr his share in the salary steal legisla tion, and Itepublican journals exonérate hini, it is alleged that he sent fora Peau sylvania Congressman, - a Mr. Hariner - dui-ing the pendency of the salary bill, and told him it would bever do to raise his salary alone, but that Ooagressmen must raise their own salaries also. His signature was thevefore secured by mak ing his personal interests subordínate to the public good. (?) - The tarift' duty on cod-liver oil being 40 per cent., the Jï, Y. World alleges that the invalids and growing children of the country paid to the government in 1872, 13,601.54 and to the cod-fishers of Massachusetts $2(10,000 to protect tliein against the pauper and fat-livered codtish of Newfoundland and other ood'fisheries. One dollar to govenment and six dollars to the cod-fish aristocraey of New England. - At a meeting of prominent Ne.w York financiers, held on Friday evening of last week, resolutions wen: ftdopted recommending the banks of that city to discount commercial paper freely, for the purpose of aiding in moving forward the crops of the country, and. expressing " undoubting confidence that the policy of liberal diseounting will immediately restore tranquillity to the public mind." - The railroad lands tax suit - which we noticed some weeks since as pending in the U. S. Circuit Court was decid.ed byJudge Emmons on Monday oi last week, in favor of the State. Judge Emmons held that earned lands are taxable, which includes much the lafger body of the land-grants in the State. The northern counties havo special reason to be gratified at the decisión. . - We hope that the Cincinnati Wntpiirer may not be far out of the way in figuring on Senator Thuriimn's re-eleotion by the new Ohio Legislatura (not yst elected) by five majority, but we have a distinct recollection of tlie f'able of the inilkmaid wlio "counted her chickens before they were hatched," and even bofore the eggs were bought. - Col. John H. btewttrt, postra aster al Pittsburg, Pa., bas beien arrested, eharged with being a That is the term used, but as valuable letters passing through his office havo repeatëdly failed to reach the-ir destination, laroeny or Htealing would more approprifttely name his crime. It is time defaultiiig officera were branded thievss, - Report has it that Bowen haa sald hfe Brooklyn {Jnion to a stock company, that he is negotiating ft sale of the Independent, and that if the sale is made he will go witii his family to Europe - for a permanent residence. Drivon trom home by the very dirty Bowen-Tilton-Becher scandal, or suclx is our construction. Ja y CooKE .i Co. gave their promised financial statement to the public on Saturday last. They flgure their liabilitios, exclusive of loans made to the firui by individual members, at $7,939,409.26 ; and and their groga assetg, exolnsive of collaterals pledged to secare the 11,701,140.99 loans from firtn members, at $15,966,212.17. These assets are itemized : bilis ri!ceivable, banks, insurance, and other stocks, bonds and real estáte, $7,867,640,12; loans to N. P. 11. Co. (on $3,750,000 stocks of the Oregon Steam Navigation (!o.), $1,500,000 loir.s to the N. P. R. Co. (on tho Company's bonds), %i, 068,215.09; second mortgage railroad bonds, stocks, &o , $2,530,356.96. Unloss there shallbe a shrinkage of thefirst item of assets and a oomplete loss of the railroad securitics tho finn will be able to pay every dollar of its l'iabilities and have a haadsome margin left. It is tb be hoped tbat this will be the Vesult.


Old News
Michigan Argus