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I ■ And xuw the West is to have $55,000,000 added to the volume of its currenoy : that is if it can raise the wherewith to establish the banks and buy the bonded securities. This ends the first or legislativo chapter in the hurubug schuine of equalisation. What will come of it i to be seen hereafter. Banks will bo gtarted where thero is acoumulated capital which cauriot be inore profitably used, and raoney will üow to poiuts and places where there is a detnand for it no matter where the banks are looatod. To attempt to change, by legislation, the natural and immutable laws which govern tho demand for or supply of money, is the game of financial experimonters or ignoruniuses. IfevertheleSH n cop hu hwn t.hrnwn to the whale. r Sanborn's friend Butler fo und it very convenient to be absent during the important period of the investigstion ooncerning hi frauda upon the treasury, and was too " sick" to speak against the Moiety repealing bill before ils passage. But he put in his appearance on Friday last, aud made a characteristio speech, full of personal abuse of his political " friends," especially of the members of the AVays and Means Committee. Exhausting his time, Beek gave him half of his hour, and then left his Kepublican colleagues, Poster, Koborts, Dawes, and Tremain to respond. Foster laid on and spared not, and tho drubbing he gaye Butler was both sovere and deserved. - We tbink that Senator Thuruian and other Democratie uieinbers of the Sonate and House who voted against the vetoed finance bilí made a mistako in TOting for thu latest finauoial abortion, - the child of the second conference comuiittee. It is a measure of inflation just so far as it reduces or authorizes the reduction of the reserves of the national banks, and besides it recognizes the illegal issue of greenbacks in the sum of $26,000,000. No bill should have been accepted which did not provide absolutely for withdrawing and canceling all the outstanding greenbacks in excess of the $356,000,000. Greenback inflation in days of peace was not only fiuancial folly but illegal and unconstitutional, and should have been rebuked. - The editor of tho New York J&vening Post has evideutly gauged and uioasared a Legislature (perhaps a Micihgan Legislature) about the time it has passed 1 a prohibitory law. His couclusions are : [ " I t(said prohibitory law) is made in re[ sponse to a certain part of the communi[ ty, by men many of whom are the first 1 to disobey it. It is made to conciliate the favor oí' certain sooieties and persons who disüouraga its enforcument for the purpose of obtaining the support of the opposite elemente of society'. " - Tho Detroit Union has changed hands, thrown off the loose party allegiance which has heretofore bound it as with threads of woolen, and come out an independent evening journal, with price reduced to two cents. Thos. M. Cook, once on the Free Pres staff, and Mr. Hudson formerly of the Union, with John H. Harmon, are reported to be the new company, though their names are not officially announced. The paper gives promÏ8e of great improvement in its editorial conduct and tone. - The " Territorial Government " for the District of Columbia is no more: it hes been wiped out by an act of Congress, and the down-troddeu and robbed peopleof that unfortunate District are to be governed by three Commissioners until Congress can get another " dig " at them. It is a great pity that Maryland cannot resume jurisdiction and control over the " plague spot,"- for that is what it is politically. - The President stood by Shepherd (exGov. of the defunct Territory of Coluinbia), by no'minating him to be one of the Commiesion to govern the District temporarily. The Senate tabled him, and the name of ex-Senator Catlin, of New Jersey, was afterward sent in. The other Commissioners are ex-Postraaster General Dennison, of Ohio, and ex-Congressman H. T. Blow, of Missouri. - Hadn't the friends of Chief-Justice Waite better give him opportunity and time to prove his presumed eminent ability in his present new and honorable position, beforo they convert him into a candidato for President? We have in mind an old saying about " running things into the ground" which might well afford a hint in the present case. It may, however, be the friends of some aspirant or aspirants who are seeking to lay hold upon the judicial robes of the new Chief-Justice by letting him down iuto the White Hoiibr. i - Joseph Saunders and wife, of tho Charlotte Repüblieaii, celobrated their silvor wedding anniversary on the eveniug of the 16th inst. Joseph was a newly married man and iu our empïoy when we committed matrimony. Our silver anniversary is near at hand ; and with no prospect of a rosumption of. specie paytnents. - And this is the epitaph Gon. Butler proposes to have put on his toiubstone : " He was a man whose virtuos overbalanced bis faults ; who loved his country, his kind, justice, and nobleness The future compiler of grave yard literature, if familiar with the history of tolay, will exclaim, " bere is richncss for - By the aid of a compositor the Ar avs made a singular blunder last week that is in announcing " Androw Jackson to orate on the coming Fourtli of July a Bay City. Audrovv Johnson is the man We haveu't heard that " Old Hickory ' has como back to earth to engage in the Fourth of July business. - Foster told Butler, during their lat. Friday's set to, that the House had been obliged to " pass a resolutioir to keep the gentleman (Butler, alias ' old Cockeye') frorn stealing telegrauis," and that expecting Lis letters tü be stolen, he had written them for that purpose. Brotherly feeling that. - The House, on Mouday, tabled Senator Ferry's bill setting apart a portion of Mackinaw Island as a national park. - The President signed the new currency bill on Moaday. Aud now " let us have peaco." - The Senate Civil ltighti bill was killed by the Houw.


Old News
Michigan Argus