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? zy' mt VCLUME IX.-NUMBER 1967 CHARLESTON WEDNESDAY MORNING, MAY 1, 1872. EIGHT DOLLARS A YEAR. THE RAILROAD CASE. BOTH" SIDES OF TBE BJJfKROPlCT QUESTION. Conclusion of Judge -ri ag ra th's Argu? ment- Cloging Argument for the Peti? tioners by Mr. Corbin. The bankruptcy proceedings upon the pe titlon of Daniel E. Scannet, ot New York, in re. the Greenville and Columbia Railroad Company, were continued yesterday morning . In the United Slates District Court before Judge Bryan; Messrs. D. T. Corbin and Geo. 0. Bryan appearing for tbe petitioner, Messrs. A. G. Magrath and C. D. Melton and John T. Rhett, of Colombia, for the railroad company, and Messrs. Porter & Conner, SImonton & Barker and JOB. D. Pope, ot Columbia, for varions creditors. Mr. Magrath continued his argument in op? position to the petition for a decree of bank? ruptcy. Having on the previous day discussed the question o? jurisdiction, he applied himself to the consideration of the specific acts of bankruptcy alleged. First, as to the alleged insolvency of the company, he considered carefully and thoroughly the arguments of his predecessors upon this point. The bonded y Hebt of the company, as admitted, was $1,958, 632, and upon that debt no one would pretend that the road was insolvent. But In addition to those bonds a number of bonds, amounting In round numbers to $1,200,000, had been unlawfully abstracted from the safe of the com? pany, passed off by those who knew they had no right to the use or possession ol them, and were then in the hands of those who knew they had no right to receive them. That question could not be tried in that court, and without the determination of that question by the court the court could not decree the road a bankrupt He reviewed the transactions between the former direction ol the Greenville Boad and KImpton, the Con? tinental Telegraph Company and the Commer? cial Warehouse Company, through which the $1,200,000 of bonds passed out of the posses? sion of the company, In order to show that that alleged debt of the company was suffi? ciently tainted with evidence of fraud as to * cause the court to pause, in the exercise of its discretion, before proceeding to assume juris? diction, even if the Jurisdiction were in its power. Mr. Magrath continued, saving that, . even lt the counsel for the petitioners had sh o <vn the power of jurisdiction and the fact ot insolvency, they were obliged stilt- to show that certain acts prohibited by the bankrupt .act had been done, because of the doing of which the i?terlerence of the court was demanded. To the allega? tions. of specific acts of bankruptcy he replied* First, that the company was not either a merchant, banker, broker, manufac? turer, trader or miner, because of the non? payment of whose commercial paper bank? ruptcy-is ordained; and, second, because the ^-coupons, the non-payment of which was al* leged, was not commercial paper within tbe contemplation of the bankrupt act. It was also alleged that certain claims against the company had been paid since tho alleged fact of bankruptcy, and with the Intent of giving a preference to certain creditors of the com? pany over other creditor?. He replied that those payments were made under the compul? sion o' tbe law, were such as were not in the power of the company to refuse to do, and were not done, as had been testi ? fled under oath by the president of company, with any intent to prefer any certain creditors over any others. As to the allegation that they had "suffered" certain levies to be made upon the company's proper? ty by certain creditors, with an Intent to hin? der or delay the operation of the bankrupt law, he said that lt was not in their power to make any honest defence against the suits out o? which those levies bad resulted, and he cited a large number of authorities to show that it was not required of a debtor to make a sham defence against an honest creditor su? ing for tbe amount of bis claim, and that it was not compulsory upon the debtor, even if insolvent, to place himself in voluntary bank? ruptcy to avoid the payment of bis debt. Mr. Magrath, In concluding bis argument, said that upon those facts they rested, and by the settled de ol si o n a they had brought forward they were content to abide. He had had no doubt, vfrom tbe beginning of the case, as to what conree the court would pursue. He did not believe the adjudication asked for was con? sistent with the temper of bia Honor as a man, or with bis self-respect as a Judge. He was not a Judicial Don Quixote to be tilting at such a windmill. His conservative) temper in the interpretation of the bankrupt i*w bad been manifested at an early day, and to the credit of the District Court of South Carolina, and bad since been vindicated by the Supreme Court of the United States. Even with that august tribunal the defence of the Constitu? tion of the United States was one that was constantly recognized. Those venerable men comprising that court, amid all tbe shifting changes of the past few years, had always planted themselves lu the breach when the constitution WBB attacked, and breasted the waves that seemed to be beating against tb TO. To go Into that small room In Washing? ton where the deliberations of that court were held, to look upon the features of the men who In former days presided as they look down from the paintings on the walls, and then to look upon the men who in those latter days sat there, and, few and weak as they were, manfully withstood the power sought to be brought against the constitution' could not but remind the beholder of tbat touching story, familiar to all school-boys, of -fie venerable Roman senator, standing on the forum In all the dignity of his age and silver hairs, who dared to strike down the barbarian who attempted to violate the sancticlty of a senator by laying his hand upon his person. He knew not what was be? fore them or before the country, but he trust? ed that the day would never come when a judge who wore the ermine of the United States should hesitate'to support tbe rights of even the weakest cl ? zen of the United States, and his Honor would well remember the name of that judge who, when the authority of h la court was challenged, called upon bis marshal to put bim at ihe head of the posse of the court, declaring. In words tbat should never die, that he never wished to outlive the law. Thia concluded the arguments on the part of the Railroad Company, and Mr. D. T. Cor? bin proceeded to address the court on behalf of the petitioners. He said that.he regretted that in a case of this magnitude anything should have been dragged In that was not per? tinent to the Issues in the case; but those had been matters of taste over which neither he nor the court had had control. The pro? ceeding which he was charged to in? stitute was the proceeding of an honest creditor of the road seeking, If he might by any means do so, to recover something upon aa honest debt. It was a proceediog also to prevent certain special creditors from coming In and eatiog up the assets of the road, and thar, as he understood It, was exactly the scope and object of the bankrupt act. He held tn his hands $120,000 of the bonds and coupons of the company Issued partly in 1855 and partly In 1858,. all having ten years to run and all long since past due. Their holders had been ior the pa9t aeven years begging the company to take them up. Tney were not received on the market, and their very existence showed the road to be insolvent. The holders of tht?se bonds were honest creditors of that road, and as such entitled to some respect In that court. They were not to be told, forsooth, that they were in collusion with a set of rascals and scoundrels? who lately * held posses? sion of the road, or that they were mere puppets in the hands of those parties. There wa9 not a particle of evidence to show that, and all such remarks were gratuitous and uncalled for. All that he knew of them was that a gentleman-a banker-of respectability and responsibility bad placed the bonds In his hands, and direct? ed those proceedings to be Instituted. It bad even been intimated in a newspaper, inno? cently, no doubt, that these bonds were a por? tion of those that had been fraudulently ab? stracted, and that the proceedings had been instituted in the Interest of parties hostile to the road; but that was a total misapprehen? sion of the facts of the case, the bonds having been issued long before the war, and before there were any charges ot fraud In connection with the company. Mr. Corbin then recapitu? lated the points bf the petition and ot the reply, and taking up the first subject In the reply, he argued that the court had Ju? risdiction over the case notwithstanding the proceedings Instituted by the State as guaran? tor, and the fact that the State Court bad taken possession of all the property of the road. The bankruptcy act Itself, in Its first section, put an end ar. once to the first and second counts ol the reply. There lt was distinctly said that the United States District Court should have original Jurisdiction over all matters of bankruptcy, to extend to all cases between bankrupts and any creditor who shall claim any debt, lo the liquidation of all Heos and other specific claims, and to the adj uatmeut of all priorities. The second mort? gage had been issued to the State to secure its guaranty, and the stale, therefore, had a Hen, but what then ? The act gave them specific authority to act, and the language of the act .could not have fitted more exactly if lt had been made for that case. He claimed also that the decisions ot the Supreme Court had set the matter at rest, and he cited the cases of the United States against Peters, (5 Gran ch, 135;) Osborn against the United States Bank, (9 Wheaton, 846;) Bank of the United States against Planters' Bank of Georgia, (9 Wheaton, 904;) Bank of Kentucky against Wlster, (2 Peters, 323.) He claimed that the State In putting Its guaranty upon the obliga? tions ol the road had laid aside its sovereign capacity and had done that lu Its Individual capacity. In the cases cited. Jurisdiction had been allowed where the Siate had been the actual owner of the property, whereas lu that case lt had only the interest o? a mortgagee. In the case o? a citizen desiring to take advantage of the bankrupt act as a voluntary bankrupt, he could not be deprived of that right be? cause the State bpapeuedtobe one of his credi? tors, and similarly, when such a condition ot affairs was shown as to give a creditor the right to put him into involuntary bankruptcy, he should not be deprived of that right be? cause the State was also a creditor. He con? tended that the fact of the litigations in the Slate courts made no difference as to the Juris? diction. It did not follow that the court would order those suits, to be discontinued. It might go cn, appolot an assignee, and then direct him to go before those courts and enter into those litigations, and await their result. Mr. Corbin was interrupted at this point by by the hou .-of adjournment, and will resume Lis argument this morning. THE STBZKJSttS *?.JC 'XH?~NORTH. WiLLiAMSPORT, PA., July 24. .The militia are here iu force, and many strikers have been arrested. The exciteJaent has somewhat subsided. The mayor hus ordered hotel and Saloon bars closed, and re? quests citizens to remain within doors The rumors that large numbers ot miners are coming trom adjacent mines ls discredited. Naw Y..RK, Juiy 24. The Trades Unions have quarrelled about the parade proposed for August 1, and.lt ls now probable that the parade will not come off. TSE WEATHER THIS DAT. WASHINGTON, July 24. Clearing weather to-night on the lower lakes, and thence to Virglula, and northeast winds over the Middle and Eastern States, with northerly to westerly winds, veering to southerly on Thursday, and temporary mode? rate temperature. Southerly winds In the South Ailantlc and Gulf Stales, extending northward to the Ohio Valley, with partially cloudy weather. The low barometer In the Northwest moves eastward, with southerly to easterly winds. Threatening weather and rain In the Northwest and Upper Mississippi Valley and the upper lakes on Thursday. THE GENEVA ARBITRATORS. NEW YORK, July 24. A World special, from Geneva, nays : "Seri? ous embarrassment has been caused In the board of arbitration by the English protest against the consideration of any evidence or argument showing animus on the part ol Great Britain. England Insiste that the Intro? duction of this evidence practically admits the consideration of the spirit of ihe direct claims which were presented only to prove other claims which lt would otherwise be Im? possible to substantiate. Should this evidence oe excluded few cases can be proved." COTTON PROSPECTS IN THE STATE. A Gloomy Report from Barnwell. The following ls an extract from a letter re? ceived from Barnwell yesterday by a promi? nent factor of this city: I regret to have to report that cotton, so far as I have seen and inspected lt, ls not as good as uBual, there being in my oplulon not exceeding one-third of the bolls on early cot? ton that ought to be on lt at this season. This ls caused, I have no doubt, by tbe injury done by lice. Possibly the cotton, though it looks bad and poor, may make up by a late fruitage lor the defect In the early part of the season. The younz crop that escaped lice is better fruited. The weed is generally unusually large. The First Boll from Florence. An esteemed correspondent, writing from Florence yesterday, Bays; Herewith I send you the first cotton boll ot the season In this section. It was taken from tbe plant?t lon ot Mr. John Howe on the 17th Instant, where many more are now to be seen. He has forty acres planted, all loosing and doloz exceedingly well. Should nothing occur to prevent, h*j expects to have a bale in by the 10th proximo. THE FIRST COTTON IN NEW YORK. NEW YORK, July 24. The first lot of new cot iou arrived here this day from Western Texas. It classed as low middling, and sold at auction for 43* cents per pound. THE LIBERAL CAMPAIGN. A BUGLE BLAST FROM SENATOR CARL scauRz. A Terrible Onslaught upon Grant. Ata Liberal Republican meeting ia St. Louis on Monday night, called lor- the purpose of electing a county executive committee, Sena? tor Schurz delivered a very langlo* and elabo? rate address, of which the following is an out? line. The sena'. jr started out by saying: "Standing before my constituents, I deem it my duty to give an account of my public con? duct, the motives which have governed lt, and the ends lt ls intended to secure. I can do this In no better way than by expressing tully and frankly my views on the events which have produced the present extraordinary situ? ation ol our public national affairs, events in which I took a small part, and also to state what I consider lt my duty as a patriotic citi? zen to do In order to promote the best inter? ests of the Republic. "It has been my misfortune to displease many with whom I co-operated in the political field for many years, and with whom I now, with great regret, find myself separated. To the attacks with which some of them endeavor to overwhelm mel have but one answer." He then reiterated what he has previously Bald about never considering his party the supreme arbiter of his sense ol duty. He then said: '.When I was honored with a seat in the Senate of tbe Unlteu States, I expected to sup? port the administration which then came into power. The tasks lt was called to perform were of unusual Importance. The civil war was over; ita logical reBults, the abolition of sla? very and the organization of free labor society In the South, were J nat being reduced to politi? cal form, and embedded in the constitution of the Republic. The first great object of our policy should have been to renationalize the South, and revive among the Southern-people a feeling caloulated to attach their hearts again to th" fortunes of this. Union; for let us not indulge In the delusion that the holding together by force of Hs component parts ls a basis upon which a Republic can salely rest or long endure. It requires a bond which binds together the heans of the'people, and not their bodies. Only to create that bond was for us the highest object of statesmanship." He then referred in detail to the different acts of the Administration party, going over the ground traversed by himself and others In the Senate. In regard to the San Domingo matter he made the following statement : "When the t-ao Domingo scheme was pend? ing, two gentlemen in intimate relations with the White House came to me, each one sepa? rately, soliciting my support of the project. They assured me if I would give that support or abstain from opposition ail the patronage I desired would be at my disposai, making me, in that respect, one of tbs most Influential men in the land. One of these gentlemen subsequently admitted to me lo writing that the offer was made to me with the cousent of the President himself.'' He said that he had withheld this statement a long ti me In spite of many provocations, and made lt now ouly be? cause, as the papers have recently stated, the President himself put forth tbe assertion, in a published Interview, that he (sch?rz j had op? posed him because he had not received as much patronage as he wanted. He then dwelt upon the abuses of patron? age and evils of the civil servioe, stating there never was a time when the lailer wai more like a thoroughly drilled and disciplined or? ganization of political agents, or when the public interest was more shamelessly over? ruled by political exigency. Referring to President Grant, be said: "I should prefer not to speak of bim, did he not stand as the embodiment and personification of the pernicious system which derives from bis individuality its peculiar character. Grati? tude tor bis military services and respect for his office hare long restrained many from ex? presslug their real oplnloos concerning him. I shaii be the last man to forget or to carp at thc great services he has rendered In tbt> field of war. The honors he has won, the laurels iv) has gathered, shall not be touched; but now ho ls a civil officer, and he atks us to continue him at the head of the civil govern? ment, Wlih this question bis laurels have nothing to do. Wuen be ascended the presi? dential chair, lt may be said the whole people surrounded him, with coralal offers of their confidence, and willing to aid in all he might do to give tbe country a good sjov ern ment, .There was not a statesman lu the 'Republic who would not have been ready, nay proud, to serve him at his call. He might have reinforced hid suppoiters from the ranks of the opposition. Accidental mistakes would have been rea. illy forgot ton; evidence of pure motives and honest efforts would bave easily silenced factious clamors. But his Career as President warrants the conc usi?n that he has never been able fully to appreci? ate the difference between military command and the complete duties and responsibilities ot civil administration. I doubt whether it has ever become quite clear to his mind what the Presidency means In our system of gov* ernment. When that high office was pre? sented to bim he took ii as a sort of national reward, an accommodation, a place in which, after his military exploits, be might make himself comfortable. His mina seems to have been tut little disturbed by the great duties and problems he was to take in hand It was soon discovered that fur his future success he needed organized par-, tlsan support. Il was easily had. Required alli? ances formed themselves by natural gravita? tion. S ion we found him surrounded by poli? tical managers Camerons, Chandlers, Mor? tons. C mkllugs, Bullers, ic,-ready lo do his work If he would do theirs It was a matter of congeniality. The Interests of the Presi? dent and of sucn political chieftains identified themselves without difficulty, aiding with executive influence In controlling Slates for themselves, and they giving their aid lu con? trolling the pai ty for bim. One hand washed the omer. This was gradually brought Into system, all co-operatlou being welcome; even such as that of Clayton, in Arkansas. Then that peculiar party despotism grew up which os i ruc is ed e wiy body who refused to obey Us commands. Ii gave birth to a new soit of party orthodoxy, whose first tenet was that President Grant must be re-elected. Oppobl-. Hon to Grant constituted high treason aicatnst a party for which there was no quarter." The senator dwelt on this theme at great length, using-the 'strongest and severest language that has yet been aimed at the President and his supporters. After referring to the President's nepotism, his appointment of Tom Murphy, his fondness for personal pleasure, and that he had actual.y Been loreign ministers In the Capitol ot ihe nation, looking lor the Govern? ment of the United States, the senator added. "I will not wrong President Grant, He la by no means a monster of Iniquity. He ls simply a man wbo makes use ot bis high official posi? tion to suit bis own convenience regardless of other interests. He does not sit in his closit a designing usurper, gloomily ponder? ing how he may subvert the free Institutions ot ihe Republic; neither does be ponder how he may pres? rve them. He does not ponder ai all. He simply wants to carry a point; when, and as In the San Domingo case, the consti tutlon happens to stand in his way he Justs walks over lt. He does not mean to break down the aulhority of the laws; he simply wants them not to hamper him In his doing*. He does not mean systematically to outrage tbe public sense of decency by nepo? tism and low associations, lo cor? rupt the service and degrade our po? litical life; be only wants to make bis rela? tions and lavorites comfortable, to associate wi th men who are congenial to him, and to take the best care ot his Interest he can. He io not Incapable of occasionally doing good things. He prefers good appointments to bad ones, other things being equal He undoubt? edly desires thai affairs should go well, his own we'fare included. Such ia the character of bis personal government. He should be doing lt too much honor by calling it Cosarism. It ls not inspired by any grand, lofty, and long? headed ambition. It ls absolutely barren of ideas and originality, bare of sinking achieve? ments, void of noble sentiments and Inspiring example. It ls simply dull, heavy, stupid and stubborn In Its selfishness. After pursuing this subject si Ul further and with some bitterness, the senator spoke of the apathy which naturally lollows a period of great excitement, and declared that the Cin? cinnati Convention was the result of a popular uDrlsIng from such apathy; that lt assumed dimensions far beyond any expectations of Ita originators, embraced multitudes who were Impelled by one Impulse to unite the whole American people in the bonds o? reconcilia Hon and fraternal feeling, and to shake off personal government and party despotism, acknowledging that Its action had caused dis? appointment to himself- and others, who wished Its declarations of policy as we'' as Its caodldafea to be such that the vlotory of the movement would iurnlsh an administration approaching the Ideal of good government as near as human wisdom, integrity and earnest efforts could carry lt. He declared he had come deliberately to the conclusion that no possibility existed to unite more tully all the sources which the move? ment gathered under lu banners, and argued i hat tbe overthrow of party despotism ls the first tblng needful to any.reform. Greeley would have at his back no regular'organiza? tion, and could win support and favor of the people only by deserving it. Tariff reformers should learn lrom the ene? mies of their principles, who Instinctively Und the surest and most natural bulwark in a parly which ls controlled by organized selfishness. Mr. Schurz then caused to be read corres? pondence with Mr. Greeley In reference to civil service reform. CIVIL SERVICE REFORM. Correspondence between Senator Schurz and Horace Greeley. The following ls the correspondence read by j Senator Schurz In his speech at St. Louis on | Monday night : ". T Bt,' Loms' June 26, 1672. Dear Sir-la your letter of acceptance you promise thorough reform of the civil service in general terms. The question how the problem of civil service relorm presents Itself toyourmlDd ls one of great Interest, and I would suggesi, if it be consistent with your views of propriety, that you give me euch ex? planations as will put, your intentions in this respect In a clear light. Yours, truly, c. SCHURZ. The following Is Mr. Greeley's reply : NEW YORE, July 6,1872. My Dear Sir-Yours ot the 26th ult. only readied me three days ago. I respond as promptly as I may. The problem of civil ser? vice reform ls rendered difficult by an alliance between the executive and legislative branches of our federal government. Those ; members of Congress who favor the adm inls- j iratlon habitually claim and are accorded a virtual monopoly of the federal offices lu their respective States or districts, dictating ap? pointments and removals as Interest or caprice may suggest. The President appoints at their bidding. They legislate In subservience to his will, oiteu lo opposition to their own Convie Hons. Unless all history is unmeaning, this comesslon of executive and legislative re? sponsibilities and functions could not fall to dletemper and corrupt the body politic. I hold the eligibility of our President to re-election the malo source of this cor? ruption. A President should be above the hope of future favor or the fear ot alienating powerful and ambitious partisane. He should be the official chief, not of a party, hut of the Republic. He should dread nothing but the accusing voice of history and the inexorable Judgment of God. He should tully realize and never forget that Congress lo its own sphere ls paramount, and nowise amenable to his supervision, and that the heartiest good-will to his administration ls perfectly compatible with the moat pointed dissent from his incul? cations. In the very gravest questions In finance or political economy lt ls the first step that costs. Let lt be settled that a President! Is not to be re-elect?d while in office, and civil service reform is no longer difficult. Hf will-need no t , .ans, DO subsidized defenders; be will naturally select his chlel COUD- i sellers from among the ablest and wisest of his eminent feiiow-cUiz-ns. regardless alike of the ehrlekB of locality aod ihe suggestions of a selfish policy ; he will have no interest to con? ciliate, no chief of a powerful ciao to attach tu bis personal fortune; he will be impeded to appoint, as will none deny he should appoint, men of ripe exp?rience In business and emi? nent mercantile capacity to Collect, keep and disburse the revenue, Instead ol' dexterous manipulators of primary meetings, and SKilful traffickers In delegates ?o nominating conven? tions. He will thus transform tie civil service of UM couniry from a party machine imo a business establishment. No longer an aspi? rant for place, the President will naturally aim to merit and secure the approval of the entire people, but especially of tbe eminently wiso and good. A? to the machinery of the boards of exam? ination. Ac. whereby the details of civil ser vice reform are to be matured and perfected, I differ to .je Judgment of a Congress unper- j verted by thc adulterous commerce In legisla? tion and appointments which I have already exposed and reprehended. Up to thia time our experience of i he doings of boards in this direction has not been encouraging, and this I am confident ls not the fault ol the gentlemen who have tried to serve the public as Com? missioners. Io so far as they may have failed, the cause ol their lil mice-ss must be Intrinsic. Had they been accorded a fairer field, I am sure tney would have wrought to better pur? pose. A thinker has observed that the spirit in which we work ls the chief matter, and we can never achieve civil service reform until the interests which demand lt shall be more potent In our public counsels than those which resist even while seeming to favor it. That ihis consummation is not distant I fervently trust. Io the meantime, thanking you for your earnest and effective labors to this end, I remain yours, HORACE GREELEY. GEORGIA FOR GREELEY. Fusion of the Democrats and Iliberal Republicans-Governor smith Re? nominated by the Convention at At? lanta Yesterday. ATLANTA, July 24. The Democratic State Convention unani? mously renominated Governor smith by ac- j clamai ion. 'ind reaffirmed the platform ol' 1870, with ihls additional resolution : They recog? nize the exigencies of the times which sug? gested and secured the nomination by the Democratic Convention at Ballimore of Horace Greeley and B. Gratz Brown as candidates for President and vice-President of the United States, and regard their election as conducive io the preservation of the rights of the States to local self government, BUG the protection of tbe Individual lloerty o? the citizens. The Liberal Republicans in convention agreed to support the Democratic Greeley electoral ticket. POLITICAL NOTES BY TELEGRAPH. Congresst' tal Nominations, - CAIRO, ILLS., July 24. The Democrats and Liberal Republicans of | the Eighth District having, failed to agree upon a candidate, the Democrats have nomi-i oated Wall, and the Liberals Jones for Con- j gress. MARION-, OHIO, July 24. The Democrats and Liberal Republicans have nominated General Geo. W. Morgan for Congress. A Response to Schurz'? Sr. Louis Speech. NEW YOKE, July 24. At the closing of his speech, lost night, Sen? ator Conkllng said, lo reference to Carl Schurz's statement that he had been offered patronage for his support of the San Domingo business, "I will take the responsibility of the atatement tbat the man who says that Iles." THE SIEGE OF MATAMORAS ENDED. MATAMORA*, July 24. The military authorities have issued a proc? lamation raising tne Biege, annulling martial law and abolishing passport Bystem and other j military restrictions which have prevailed for | several months. SPARKS FROM THE WIRES. -Ralph Waldo Emerson's house 1B burned. -The labors of the tieneva tribunal will oc? cupy ihre? or lour months. -It ls said that Bishop Bayley, of New Jersey, is soon to be made the Catholic Arch? bishop of Ballimore. -The cholera ls abating In Russia. The deatliB for the past week were: St. Petersburg 126, Moscow 32, Odessa 84. -The Irish and French citizens of Phil? adelphia turned out in large force yesterday to receive the French band. -Jerome L. Babne was robbed In a New York stage yesterday of a package containing ten thousand dollars worth of diamonds. -The prloe ot coal In England ls advancing. The ocean steamers have increased their rates ot tare lu consequence, and the importation ol coal from Belgium has commenced. i THE BLUE RIDGE SCRIP. WHY JUDGE WILLARD DECLARED ITS ISSXTE XmcONSTITTTTIONAL. The Fall Text or the Declilon. The following ls tbe full text of the decision o? Judge Willard In the bond scrip case, the substance of which was given In our Colum? bia dispatches yesterday morning : COMMON PLEAS-RICHLAND COUNTY.-The State ex rel. E. F Gary, Auditor, vs. N. O. Parker, Treasurer ano others. Tnls motion comes before me under Section 241 of the Code, authorizing a justice of the Supreme Court to eutertalaa motion lor an iojuoctlon in case of the absence of the circuit Judge from bis circuit, or his inability from aoy cause. The question involved is, whether an act ot the Legislature, en 1 tl ed "Aa act to relieve the State of 8ouih Carolina ot all liability for Its guaranty- of the bonds of the Biue Rldire Railroad Company, by providing for the se? curing and destruction of the same," passed March 2, 1872, (15stat, 79.) Is unconstitutional, so lar as lt attempts to "authorize the issue ot certain obligations from the'treasury of the State, designated therein as revenue bond ecrip, on the ground t Dat such act contravenes PO mush of the tenth section of the first article of the Constitution of the United States as declares that no State shall "emit bills of credit." It ls claimed by the plaintiff that the obliga? tions contemplated by tbe second aud third sections of that act are bills of credit, within thu meaning ot the Constitution of the United Slates, and that the provisions of such law, for the Issue of such obligations, intend an emission within the sense aad meaning of that constl utlon. Section 3 provides as follows: "That to carry out the purposes of this act the State treasurer ls hereby authorized and required to have printed, or engraved on steel, as soon as practlcaole, treasury certificates o? indebt? edness, to be known and designated as reve? nue bond scrip of the Slate of South Carolina, in such form and of such denominations as may be determined on by the State treasurer and the president o? the Blue Bldge Railroad Com nan v in South Carolina, to tne amount ot $1,800 OOO; which revenue oond scrip shall be signed by tne State treasurer, and shall ex? press that the sum mentioned therein ls due by the State or South Carolina to the bearer thereof, and the same will be received in pay? ment of taxes and ail other dues to tne State, except special tax levied to pay Interest on tbe public debt." The question arises, are the obligations con? templated by this section oil s o? credit, within the meaning of the Constitution of the United Slates? The proper de a nit lon of the terms "bills ot credit" bas been settled in the Su? preme Court of the United Stales, after much abie and earnest discussion, eliciting marked difference of opinion. Chief Justice Marshall, in delivering the opinion of the majority of the court, in Craig vs. Missouri, (4 Peters, 490.) declares tbat i he terms "billa ol credit," as emuloyed In the Constitution of the United Stales, ''slgniiy a paper medium Intended to circulate between individuals, and between government and individuals, for the ora* nary purposes of society,, und that the probibli lon against such ?misions comprehends the emis? sion ot any paper medium by a State government for the purpose of common circulation.'' This definition received much consideration, as to its accuracy. In the subs?? quent case of Brl-coe vs. Bank, (ll Peters, 267,) but was enforced, rather than impaired, by the decision In the last named ca-e. The opinion ot the majoriiy of the judges, in Bris? coe vs. Bank, was delivered by Justice McLean, who, lt will be observed, was ..ne of the lusilces who dlssenied In Craig vs. Mis? souri. He declares, aller reviewing the vari? ous definitions of the terms lu question tbat had been brought Into discussion in Craig vs. Missouri, that "the definition there, which does include all clast-es of bills ot credit, emitted by i he Colonies or States, is a paper medium, Issued ny the sovereign power, containing a pledge of lis faith, and designed to circulate us money." It ls not necessary, for the purposes of the present case, to Inquire whelher the foregoing definition ls exhaustive of the whole sense and meaning Of Ihe constitutional prohibition, for the present case will be found lu .ly wlthlu that detlDit'Oi), and, therefore, covered by the authority of the Supreme Court of the United Slates in the case already cited. It remains, theo, only to inquire whether the obligations contemplated by the act under consideration are Intended to nave the following character? istics: 1. That they were to be issued by a State In Us sovereign character. 2 That they were to contain a pledge ot its fal lb; and 3. That they were intended to circulate as money. The first and second propositions are settled in the affirmative by the terms o? Section 3, which provides, as we bold, for a paper to be Issued by tbe State treasurer, Impon log an obligation on the part of the State to pay a certain sum of money to the bearer. It will, theretore, be necessary only to inquire whether lt was the Intention of the act chat this paper should circulate as money. An inquiry ot this nature cans into exercise one of tue most important and responsible judicial powers Incident to a constitutional government. It Involves the examinai lon of an act ol the Legislature, with the view ot flxlog the purpose and inientof the Legisla? ture ia the passage ot ouch aot, not merely aa a means ot effectuating such purpose and intent of the law making power by mean-? of ihe Judicial authority, but fur the purpose of tesl log the authority of the law-making power liseli in the euee, under the supreme law of ihe land. The principles that should govern such an Inquiry are weil Illustrai ed in the case ot Craig vs. Missouri, already referred to-, and the mode lu which they are there ap? plied to a case remarkably similar to the one lu hand, marks out veiy clearly the line o? in? quiry appropriate to be pursued. To fix the meaning or the term "money," lt must be taken In tue ordinary sense under? stood by the community in their mutual deal? ings. A streuuous attempt was made in Craig vs. Missouri, aod io Briscue vs. Bank, to limit the senBe of the term "money," as entering into the quesiion of what constitutes a bili ot credit, to the legal or technical sense ol the term, which embraces only the legal coinage of the country, and that whloh ls its legal equivalent, or, in other words, ls made legal tender; but that Une of argument did not pre? vail. The question properly stated ls, whether a particular obligatlou is what the coummunlty regards and deals with as money ? Tbe an? swer to lt is, that whatever ls current in a form convenient lo puss from hand to band, and that may be used to pay debi s or purchase commodities, ls lu ibis Beuae money. It h not ess-ni lal to such churacier thal tender of pay? ment lo euch euristltuted medium anould nave the force aud effect of a legal tender, nor thal lt should have an actual capacity for paying debts and purchasing commodities equal to that of money possessing lmrlnslcor legal value. That which parses current as money I may be depredated without losing its charac? ter as money, aod depreciation necessarily Implies a diminished capacity for paying debts and purcoaslng commodities, i On tbe other band, lt ls not enough to char? acterize an obligation us money, merely be? cause certain Individuals have found it conve? nient to use lt In ihe place ol money lu their mumal transactions. There must be a dealing in this medium, or money, by th? community as such, although the extent to which such deallog by the community ls carried ls, per? haps, unimportant to the questlOD. There are certain characteristics that tend to adapt a paper promising to pay money, or rep? resenting money value, to become current In tbe community as money, Ir must be In a form convenient to pass lrom hand to band; lt must be based either on the credit of a govern? ment, a corporation or an Individual, or asso? ciation of Individuals, or upon a fund pledged or set apart for Its redemption; it must either have undoubted credit,- such as arises from its ready convertibility Into money value, or it must tend to supply some want, natural or ai tindal, of the commu? nity in which lt is Intended tor circulation; it must be placed upon the community in-quan tlty or volume sufficient to create an adequate Interest and motive to secure Its currency; and, finally, lt must have a certain denomina? tional character, adjusted to the wants o? the community in respect to a circulating me? dium. Au examination of the act in question will disclose a clear Intent to clothe the obliga? tions in questions with attributes fitting them for general circulation as money. These at? tributes will be considered In tbe order just stated : 1. Was lt intended that the revenue bond scrip should be issued In a form convenient to pa?s from hand to hand In ordinary transac? tions of the community ? Seotion third gives the scrip the form most usual and convenient to serve as paper money, viz: that of the usual bank or treasury note. It ls to be printed or engraved on steel in such form and of such denomination as the Slate treasurer and president of the Blue Bidge Railroad Company shall determine. The oo Ject of referring tbls authority, as to form and denomination, to ibe treasurer and the presi? dent of the B.ue Ridge Rs'lroad Company ls obvious. The treasurer ls, by the act, to re? ceive and pay out this scrip from the treas ry as money, and the president of the railroad company is to receive the scrip as the repre? sentative of his oompany, and to realize from ns employment; and as most likely to know what quail ilea, as to form and denomination, would have the tendency to give the greatest currency to the sen p at the time of its I -sue, a certain discretion 1B left with them for snoh purpose. While the third section determines what shall be the substantial character of the scrip, as Imparting a pledge ot the public faith and credit, the form of the Instrument, as adapting lt io external appearance to the com? mon notion of money, ls left with those most concerned in its currency. 2. It ls to be based, by the terms of tbe act, on the State Government in ita sovereign capacity. s. Tn? act attempts to confer upon lt not only ihe full credit capable of being conferred by this, as of the full faith and credit of the State, bnt to create an artificial want In the community tending to give it currency. In the first place, it ls made resolvable in pay? ment of taxes and all other dues to the State, except the special tax levied to pay Interest on the pu bl io debt. (Seo. 3.) Again, lt ls provided that If any such scrip ls received In the treasury for tbe payment of taxes, the treasurer ls authorized to pay out the same in satisfaction of any c alms agalast the treasury, except Interest that may be due on the pabilo debt. (Seo. 6.) These provisions contain two distinct fea? tures. The first le a permissive feature, affecting each individual in the community who ls a taxpayer, and supplying to him a a motive to become a -purchaser of the scrip. A more energetic means of creating an Interest and motive in tbe community to deal with the scrip as money could not be offered, short of making the scrip compulsory pay? ment ot all debts as between individuals. The other feature lnvolvea the communication to the eorlp of the capacity of performing all the functions of money in all dealings between the State and individuals, excepting only the case of the payment of interest on the public debt. This last feature can have no other significance than that of giving currency to the scrip as money. It will be observed from the language of the fourth section, In wnloh the raitn and funds of the State are pledged, that such pledge ls not In terms that such scrip shall be redeemed by payment to the bearer, on presentation ot the amount of money ca led for by lt, but the language Is "that the faith and funds of the State are hereby pledged for the ultimate redemption of said revenue bond pcrlp." It l's only ultimate redemption, not payment on demand, that ls covered by this pledge. What ls meant by ultimate redemp? tion Ts made clear by the succeeding clauses of that section. It ls provided that a certain tax sbali be annually levied for the redemp? tion ot tbe Bcrlp; and lt IB also provtdrd that the State treasurer shall "retire at the end of each year from their date one-fourth of the amount of treasury scrip hereby authorized to be Issued, until all of lt shall be retired, and to apply to such purpose exclusively the laxes hereby required io be levied." The effect ol these pi o vial ona ie that the holder of the scrip mast not look for payment according to ihe tenor of his scrip, bat must seek a par? ket .for its circulation under the influence o? the pledge of laiih and funds for its ultimate redemption. In other words, an attempt ts made to give currency to the Is-iue, notwith? standing the absence of any Intention or ability to redeem, nccordln? Co too tenor of tho prom lae, by obtaining a credit with the community fur the amount of scrip put In circulation, in the 8trei>gih ot certain special provisions, and a general pledge o? ihe faith and funds ot the Stale for its ultimate redemption. 4. Tne quantity or volume of the contempla? ted Issue is such as tended to create a strung motive and interest in the community to keep the scrip In circulai ion as money. The amount, $1,800,000, aa compared with the extent ol the commercial transactions ol the community on which that amount was Iniended to be placed, affords the clearest Indication of an intention so to affect the interest of the community as to secure ils circulai ion as money. It was lo be piaced at once io prlvtte hands aa valid obligations on the part ot ibe Stale. The vari ons provisions of the aci that look to a distri? bution among the people preclude the idea that it was luteuded thai the r?cipients ot this large fund should hold ll until redemption, or even that lr, should be kept together In the bands of a limited number of holders; oo the contrary, it was clearly intended for disper-1 alon, aud ihe magultuoe of the interest In the hands of the first receivers of the scrip was sufficiently large to warrant the assu m pi loa that lt would become thus diffused throughout tbe community. 5. As regards Its adaptation in respect of denomination, we have already seen thai authority waB conferred on those most con? cerned with its circulation, to adapt the issue In that respect to the wants of the community, auch a provision -hows additional evidence of an intent that ihe scrip Bhould circulate as money. Considering the act in Its entire as? pect, as well as In Ita Integral paris, lt ls c ear that the Legislature Intended that the scrip should circu?ale as money; and tbat, for this reason, the provisions of the act authorizing the Issue of scrip are in conflict with ibe pro? hibitions of the Constitution of the United States as to the emission of bills of credit by States. The act being unconstitutional, it is void, so far as lt contemplates the Issue o? revenue bond scrip. It is unimportant, therefore, to Inquire whether trie scrip that Was actually Issued was conformable to and authorized by the Mt The Injunction heretofore issued mast be continued until the final bearing and d?termi? nation o? the action. A. J. WILLARD, A. J. S. C. FROM THE FEDERAL CAPITAL. The President Finds Time to Attend to One Day's Business-Subsequent He? giro of the Administration. WA8BINTON-, July 24. The new French minister, M. De Noalll, pre? sented his credentials lo the President to-day, and the usual diplomatic speeches were made. Tbe President made a large number ot ap? pointments to-day. among them being the following: James K. Broadfit, of Wisconsin, surveyor-general of New Mexico; E. Wilson, postmaster at Columbus, Texas; William L. Scruggs, assessor of internal revenue Fourth Dis'riot of Georgia, and John Tyler, Jr., for Florida; Ricbara Beardsley, consul-general at Alexandria, Egypt, vice George Bittier, sus? pended; Sam'i Dabney, consul at Fa\ al; James white, of Illinois, minister resident to ibe Argentine Republic. Under the new law by which the internal revenue supervisors are reduced (rom twenty-five to ten ihe following are relieved: Alexander P. Fulton, for Penu 8 vi van I a, New Jersey, Delaware, Mary land and the District of Columbia; P. W. Perry, Virginia,. West Virginia, North and South Carolina. Georgia and Florida; G. W. Emery, Kentucky, Tennessee, Alabama, Mississippi and Louisiana; B. B. Cobb, Missouri, Kansas, Arkansas and Texas. Spotted Tall, ibe Indian chief, with his braves Interviewed the President to-day. The usual friendly overtures were made on both sides. Spoiled ''all expressed hts desire for the President's re-election,, to which the latter responded that, whatever might be the result of the election, he hoped there would be no change IQ the Indian policy. The President. General Porter and Secretary Fish lett Washington to-night. Bouiwell goes later In the week. Several agents for Indian tribes were re? moved and others appointed in their places to , day. John Potts, lor thirty-six years clerk, and for i over thirteen years chiet clerk, of the war de? partment, died this morning. The secretary of war announces the death in general orders and paye the deceased a high tribute for up rightness and Integrity. He was well known ; throughout the entire country. A MAR7EL10US RESCUE. A GEORGIAN'S PERILOUS FALL AT STONE MOUNTAIN. He ls Caught by sv" Projecting Ledge Twelve Hundred Peet ii om theB??e. On Saturday, Major John B. Steward,-who lives on his lar m near toe north base of Stone Mountain, Atlanta, Georgia, thought he beard tbe voice of a man in distress on the steep side of tbe mountain. Upon looking np he saw the head of a man, and saw him waring bis hands for succor. The man called to the Major for a drink of water, and said that he had bat little money, bat be would give lt ail to be taken from the place he waa. TheMajOr asked him if he was not hoaxing bim? The man replied tbat he was in earnest. ' Caution? ing the man to keep quiet, the gentleman pro ceeded at once to town and obtained assis? tance. . - The news spread like wild-fire over town, and every heart ran ont lo anguish for-the condition ot. the unfortunate one. Those who went to the rescue made "quick time" to get there. Men were stationed at the base of tbe north-side to signal the party on top at what, time to descend. Securing ibe rope tb a cedar tree firmly Imbedded between two maestra rocks, two gentlemen made the perilous de? scent to secure the man.. About.three .hun? dred feet from the top o? the mountain they came to him. He was lying In a gulch, or water course, farrowed out of the. rook by ralos. One loot .was Jammed into a crevice, and the other bent uno>r his body. He waa, hugging the rook closely, jvulleone hand waa grasped in the strap on the collar ot bis coat. A small tablet of rock, two or three feet - long and a. toot or BO wide, was all that was ' between . him and a fall of some twelve hundred feet to the ground, Had be moved two or three feet, either to the rlgnt or left, he would bave been pre? cipitated to tbe bottom, twelve hundred feet, and only a horrible mass would have'bees lound to tell the tale.- He bad Iatn there from friday evening late until ?-aturoay evening. His ansie ties and Bufferings were intense. His feet were Bwollen, lacerated and bittered ny the hot rocks; the ann poured upon him US' fiercest raja, causing the moBt excruclailng. thirst and producing almost entire ollndue-a. Death seemed to a ar? bim tn the lace on all sides. Bemm without friendly aid He could not. He was ai raid to move either tb tho ri i ht or to the left, or get un, for that terrible fall was beneath him. Without succor, he, must die a lingering, torturing death of thirst and starvation. In adjrtstlDg the rope several rooks were in tbe way, and tearing that the rope might < oiaiodga them and bring them down on the unfortu? nate mau, they were removed and thrown'eft* In such a direction as not to strike on the spot. occupied by the man. With a oraehing noise - they rolled to ibe brow of the precipice on a' line with bim, and then plunged down that terrible distance, burying themselves lu the earth at the base. Beaching the place, the rope was tied around the mau and be was con? ducted to a place of safety. Upon reaching ' 1 the sum DC It, the rescued man was BO thirsty 11 hat he would have emptied a bucket or water . at-one or two draughts had be been .suffered - to do so. He was carried to a neighboring store and cared for. .? On Friday events? the man alluded to,.re? puted to be a Mr. McCarty, of Villa Bi ca. Gar-; roll County, went to the top bf Stone M?n?-. tain, tatting with him a bottle of whiskey. ' He drank rather freely, and, perhaps, -'waa light-headed. He (-tarted down In search of : the "Devil's cross-roads," and flndl i? the.de? seen t becoming abrupt, be pulled off his boots. He had not KOBO lar when be recollects fill- . lng and scrambling. His, bo ita were lonna, u with an empty bottle, at the foot of .a .cedar , tree, some one hundred feet above where'he , was found, ffence lt ts wnpon??>ri.Ttinr h" foll and scrambled together some forty br fifty feet. He recollects having bis boots there. The accident occurred about nightfall. It iti, doubtless one of the most miraculous escapes from aeath on record. _ THE NEW TOOK VEG STAHLE AND FRUIT MARKETS. . The Daily Bulletin of Tuesday, July 23, says: The market generally. Is quiet to-day, ai usual on Monday, wituout particular' change In prices. W<- quote: {few potatoes SI 60a2. Gr--eu corn 76ca$l26 p-r 100. Southern onions, per bol, $2"2?a'? 50; do Conned lent $2 50a3 per 100 strings. Mew raren pea $2 per col. Cucumb-r*. Jersey, $160 per bbl; and Long inland 50-i75o per 100. Squash. Der oas kei, 60c; do nurrowfat. per bbl, ? lal 60. New turnips S2a2 60 per bbl. Canbaies $4 6 per 100. Green oulone $4 per 100 bunch' a. B-eta, Jersey. $4*6. som hern lomaioe-* 60*15 per crate; Jersey $1*1 60 per orate, and $ I per bas ker, aud Long Island $2 60 per basket The receipts of berries were rather light to? day, and eales at about Saturday's prices. ' 0 her kinds without essential change. We quote as follows: New apples, goud,-$l60a 2 60 per bbl. 60ca$l per crate. Watermelons $50a7O per 100 Nutmeg melons $3 60a4 rcr 1 bl. Pears $2 .9 p-r bbl. Peaches, D' law u'e, $4 per crate for choice; $160a2 per crate for South of Delaware. CITY IMPROVEMENTS. ' " A Splendid Store for *n Enterprlilng Dry Goods House. The store on King street. No. 276, now occu? pied by Messrs. Martin & Mood, grocers, la about to undergo a thorough overhauling af the bands of ihe Devereux Brothers. The flight of stairs, on the north side, leading to tbe second floor, lrom the street, will be re? moved, and the space so taken up used for widening the front. A new and handsome iron front, cast at the foundertes of the Phos? nix Iron Works, will be put up on the first story in place of the one now standing. Thin front Will have two windows nine feet wide, with square headings, and a door, in the cen? tre, ten feet wide. The windows will have three lights, eaoh of French plate glass. Each of the three floors of the building will ba thrown Into one large room, and reached by a roomy and elegant stairway, with mahogany railings, commencing about the midway of tbe first floor on the.north side. The work will be completed during the latter pan of September, and the store will then be occu? pied by the well-known dry goods firm of Furchgott, Benedict & Co. It la the Intention ol these gentlemen to make this the most ex? tensive dry goods establishment that Charles? ton hos had since the war. The internal arrangement of counters, shelves, Ac, will be similar to tnat of ihe dry goods bouse of Ar? nold, Constable ? Co., Broadway, New York. The first floor will be used aa the retail dry goods department; the iront part ti the see ond as a carpet, matting and oil-cloth room, while the back part will comprise the uphol? stery department, and the third floor will con? stitute the wholesale department. Messrs. Martin * Mood, in the meanwhile, will flt up the store No. 127 Meeting street, adjoining their present branch store, on ihe corner of Market, and remove thither their stock, which is at present contained In No. 276 King street. In these two stores they will continue, as heretofore, to supply the demands created by the appetite of the community. :? The removal will take place about the lat ot * August. On the north side o? Beld street, one door west of Hanover, a neat two-and-a-hall story wooden dwelling ls bring erected by a colored . man for Mr. John'A. Blanche. It is twenty six ieet front by forty deep, and contains double piazzas. It will be finished about the 1st of September.