DEATH OF THOMAS TILESTON.

On the morning of Monday, February 29th, we were startled by the announcement of the sudden death of THOMAS TILESTON-one of our most enterprising, successful and best loved citizens.

When Mr. TILESTON wrote his signature beneath the engraved portrait which appeared in one of our late issues, it was with a smile of blameless pride at the steadiness of the hand that had passed its allotted threescore years and ten, yet still retained the unshaken firmness of early manhood. To a human eye, looking at him thus in the midst of health and prosperity, in unimpaired vigor of mind and body, there seemed to be still in store for him, many long years of usefulness to others and happiness for himself. But a fortnight had scarcely expired when the steadfast hand was still and powerless; and the will that prompted it, the eye that guided it, passed away from the earth for ever.

It is not possible, within a limited space, to estimate the full value of such a life, with all its far-spreading influences, nor to mention the innumerable regrets occasioned by its sudden ending.

In countless ways and places, the loss will be felt: by the fireside in a desolate home; in an extended circle of strongly attached and appreciative friends; in numberless public enterprises and institutions. The firm that has stood for forty-eight years, and that soon might have celebrated its golden wedding-day of partnership, has met with a sudden and sorrowful dissolution. In the bank, the counting-house, the insurance office, in commercial circles everywhere the wise voice will be missed, and many will long to hear again the sage counsel now hushed in sound slumber.

We have already spoken in the sketch of Mr. TILESTON'S life, of the many noted traits of his character; his wisdom, integrity, and judgment; his benevolence, his energy and discernment. Much more might indeed be said upon these points, but we forbear, and allow the testimony to stand as it was then written, for what was intended as a just tribute to the virtues of the living, has now become Sacred to the Memory of the Dead.

There is perhaps one quality of Mr. TILESTON's character which may well be remarked upon, and this is the unusual combination of the legis lative and executive faculties. It has been said that men are divided into two classes-the dreamers and the workers-those who think and those who act, those who plan and those who execute. If this be not true as an axiom, it surely may be considered true as a rule. There is of necessity among men a diversity of gifts. A sculptor moulds into plaster the perfect conception of his artist's soul, but it is the accustomed fingers of the handicraftsman, dexterous and flexile with long practice, that finally evolve from the shapeless marble, a statue of such exquisite finish that the world goes wild over its beauty. One general works out in theory a magnificent campaign, admirable in its utmost details, wonderful in its perfection as a whole; another, powerless to originate, but strong to execute, grasps the great idea, and rushes on to a victorious consummation. These diverse powers of invention and execution, dissimilar, and

generally separate, were combined in an unusual degree in Mr. TILESTON'S character, and largely contributed to ensure the remarkable success which attended all that he attempted. The best laid plans are but schemes and visions, till a practical test proves their wisdom; and the greatest executive faculty can hardly be expected so fully to adopt and carry out the conception of another, as not to lose something of its original force or delicacy. He, therefore, who can both theorize and perform, who can first think out and then work out his own idea, has an advantage over bis fellows that must inevitably make him an eminently successful man. The manner of Mr. TILESTON's death is too well known to require any detailed statement here. It was excessively sudden. Without an instant's premonition, without a quiver of the strong hand, without even a quickened breath to warn him, death seized the earthly tenement and let the soul go free. It must ever be a consolation to those who best loved him, that he was spared the pains and anxieties of a lingering illness, and that they were saved the sight of long distress and weakness, which human tenderness is sadly powerless to relieve. And yet, to every thinking mind, there is a wonderful solemnity in such a sudden death. It forces upon one a profound and overwhelming sense of the strange union and still stranger parting of soul and body; the eternal mystery of

"The vase of clay, the earthy clod,

Constrained to hold the breath of God!"

Breathed into it at birth, withdrawn at death; and, between the two, a short tumultuous passage, a rapid grasp of grief, joy, pain, and change, that we call the life of man.

Happy is he who, in passing away, leaves only the remembrance of worthy deeds to those about him; whose name evokes none but good and kindly memories; whose life, like a goodly bark passed out of sight, leaves behind it a glittering wake of beneficent influences to guide other mariners into the desired haven. Yes, more than happy are all such, they are blessed, for "they rest from their labors, and their works do follow them."

PROCEEDINGS OF THE CHAMBER OF COMMERCE ON THE DEATH OF THOMAS TILESTON.

Ar the regular meeting of the Chamber of Commerce on the 8th of March, Mr. A ̧ A. Low, after calling the meeting to order, spoke in a few earnest words of the death of MR. THOMAS TILESTON, and the great loss the city had thus suffered, referring to the fact that Mr. TILESTON had been a member of the Chamber since 1833. After which Mr. JOHN D. JONES, President of the Atlantic Mutual Insurance Company, in a brief address paid a feeling tribute to his memory, and gave a very just estimate of his character. In speaking of his unusual success, he said:

"It was no one quality of mind that made him great in his sphere, but a combination of many evenly balanced qualities, which gave him power to excel. His industry knew no tiring; his energy seemed controlled by a will which was adequate to the difficulty to be overcome; his sagacity and quick decision gave him great advantage in mercantile transactions. His skill and foresight, adopting and entering upon plans of enterprise and improvement, and his fidelity in pursuing his plans; his promptitude and punctuality in performing his engagement; are rare qualities in the human mind, and the favorable results which are so well known have all shown their value.

"In liberal public spirit few excelled him. He was ready to take up any public measure deemed by the Chamber necessary for consideration, and, regardless of bis own valuable time, gave it the necessary attention. His last duty was to act on a committee upon the subject of ocean steam navigation; his last public act and address before this Chamber upon the adoption of that report, delivered only a few days before his death.

"His courtesy and frankness of manner were remarkable, and his general discretion very largely contributed to his success.

"Mr. TILESTON adorned every station he held in life; he added dignity to the position of a merchant, and elevated the character of a banker. As a counsellor his clear judgment was most valuable; as a friend he was devoted and reliable."

After listening to Mr. JONES address, the Chamber adopted the following resolutions:

"Resolved, That in his decease the mercantile community has lost an estimable member, the young merchant a valuable friend, and the city of New York one of the active supporters of its commercial greatness.

Resolved, That in our varied forms of intercourse with the lamented deceased, we can all bear testimony to his industry, energy, sagacity and ability; to the skill and courage with which he foresaw or adopted and entered into well-considered and productive plans of enterprise and improvement; to the promptitude, punctuality and fidelity with which he pursued such plans and performed his engagements; and to his liberal public spirit.

Resolved, That after a long intimacy with him, we express with gratitute our appreciation of his virtues as a citizen and friend, of his probity of character, and bis genial, social qualities.

Resolved, That the members of this Chamber attend his funeral and unite with his numerous friends and acquaintances in attesting their respect for his memory.

Resolved, That a copy of the foregoing resolutions, duly authenticated by the officers of the Chamber and seal, be transmitted to the family of the deceased.

After the adoption of the resolutions the Chamber adjourned, to attend in a body the funeral of deceased."

COMMERCIAL CHRONICLE AND REVIEW.

FINANCIAL AFFAIRS-LAW OF FEBRUARY, 1862-SINKING FUND-GOLD ACCUMULATION-BILL TO SELL GOLD-RELATIVE VALUE OF GOLD-PRICES-GOLD IN THE WORLD-FOREIGN COMMERCEOBJECTS OF NEW BILL-ITS DEFEAT-GOLD IN TREASURY-GOLD INTEREST-NATIONAL DEBTTHE MOVEMENT IN MARCH-TWO YEAR NOTES-INCREASE OF DEBT-RESULTS OF GOLD BILLGOLD MOVEMENT-EXCHANGE-LOAN BILL-NEW ISSUES-STOCK PRICES-INVESTMENTS-MINING INTERESTS-REDUCED COST-GENERAL BUSINESS-IMPORTS-EXPORTS.

THE Commercial and financial affairs of the country has been a good deal dis. turbed during the last month, by the proposed action of Congress in relation to the disposition of the gold in the Treasury. The continued collections for custom duties, which are payable in gold had caused an immense accumulation, and the. supply in the market was small-hence the amount on hand, and which under the loan could apply only to interest on the sinking fund, came to be regarded with uneasiness. The law of February 25, 1862, provided Section 5, as follows:

That all duties on imported goods shall be paid in coin, or in notes payable on demand, therefor authorized to be issued, and by law receivable in payment of

public dues, and the coin so paid shall be set apart as a special fund, and shall be applied as follows:

First. To the payment in coin of the interest on the bonds and notes of the United States.

Second. To the purchase or payment of one per centum of the entire debt of the United States, to be made within each fiscal year after the first day of July, 1862, the interest on which shall in like manner be applied to the purchase or payment of the public debt as the Secretary of the Treasury shall from time to time direct.

Third. The residue thereof to be paid into the Treasury of the United States. This solemn pledge of a "special fund" was made in the law authorizing the issue of $500,000,000 six per cent five-twenty year stock, all of which had been issued or sold on that pledge as part of the condition of purchase. The custom duties have been very large, and the amount of gold accumulated as follows:

The amount held by the banks in October was estimated to belong, two-thirds to the banks themselves, and one-third to special depositors, importers and others who had purchased to pay duties, and for other purposes. Under the process of paying duties and of exporting the amount in bank ran down nearly $10,000,000 and that in the Treasury increased $16,000,000, after all the payments of interest, November, January and February 19, and the price of specie in the market regularly increased. Under these circumstances it was obviously the duty of the Secretary under the law if he supposed the sum on hand would warrant it, to buy the public debt for the sinking fund. The amount of the public debt is in round number $1,600,000,000, hence, one per cent is $16,000,000 which with the accruing interest would supply the market and keep faith with the government creditors. Instead of this, however, a bill was brought into the House authorizing the Secretary to sell all the gold not wanted for the interest on the public debt. In other words to do away with the sinking fund on the guarantee of which the debt had been negotiated. This direct attack upon the public faith gave rise to much discussion. The theory of the new bill was that the rise in gold was due almost entirely to speculation, and that a few sales by the Secretary would suffice to break that speculation, and greatly to reduce the price. This theory was founded in the error that it is gold that has risen and not paper that has fallen in value, whereas the fact is that gold has risen less than any other article-all commodities are higher than gold. There are, of course, circumstances that affect prices besides currency. As taxes, transportation, supply and

demand. The imported goods bear a high rate of duty direct and also payable in gold, and these affect prices. The articles formerly derived from the South are in very short supply, in consequence of which the prices not only rise on those commodities, but upon all kindred articles.

Let us leave out of the estimate then imported goods and materials supplied by the South. Those articles that are more exclusively influenced by the currency are farm products. These are in more than usual supply, and pay no taxes, but are affected by the high cost of labor of manufactured goods and of transportation. The following will show how those prices have varied since March, 1862, when the government legal-tender issues began:

The rise has effected every article, and the average aggregates will compare as

follows:

It is here evident that the rise in gold is far less than in other commodities, the metal having risen but fifty-nine per cent, and the average of twenty-nine articles is ninety-eight per cent, and those are articles not directly acted upon by the rise in gold. It is also evident that if this level of prices is maintained