The south-western. [volume] (Shreveport, La.) 1852-1870, 1855-11-21

I MONEY MATTERS ABRoAD.-NolncOnside
bic anxiety is felt in commercial circles in rela-
ton to the fiscal condition of the two great
powers shat are battling for supreme power in
Europe, with the ultimate view Of controlling
the destinies of the old world, and were it prac-
ticable, of the new also. Speculations are rife
as to the probability of these two governments
being able to manage their resources, and main
| tain their credit so as to avoid the resource
through their recognized fcal agents, the banks,
| to the ultima ratio of bankruptcy and suspen-
sion Of specie payments. The best advised in
this country are of the opinion that such a ca
lamity is by no means inevitable, as many flip
pant and nconsiderable writers seem to think,
and confidently predict. -
| The ability of the bank Of England to ACCOM-
modate its customers in seasons of pressure, land
when, in consequence of war, the fluctuations
Of the public deposits are sudden and rapid, is
limited by the provisions of the Peel act of 844
| to notes of circulation equal to the bullion in
the issue department and seventy millions of
dollars or Fla 100000 sterling in government
debt. This is the fixed standard and unaltera-
BILE, except by act of parliament, or by order in
council of her majesty's ministers in the recess
of parliament. When the bullion of the bank
is redundant and the commercial demand for
discount SO moderate as to be supplied in con-
siderable measure by the private and join stock
bankers, the reserve of notes, unsued in the
banking department, is large. Thus on the 7th
of July, when the minimum of interest was 81
per cent, the notes issued were about E31 ,o94,-
066, being the representatives of Fla 100000
public securities and ELISA ,o66 bullion, Cess
about f5oo,ooo in the banking department,
| yphi1a tha IF
From that date to the 9Th of October, the mi
nimum of interest having rapidly advanced in
September to 81 per cent the bullion and notes
in reserve ran down together, while the demand
for accommodations ran up the loan and dis
counts from e. 328, 8O6 to, El9, 791 1898 while
the reserve of notes was f5473, 470, and the
bullion was f12,279,28l.
Thecondition of the bank of France has been
getting to be less favorable with every an
nshncement. Its stock of specie had fallen off
since September from 6fty-six millions of dol
lars to forty five Millions yet the money letters
from London eyince no anxiety as to the ability
of the government and the bank Of England to
meet the financial emergencies which have at
length been brought about by the expenditures
of the war in connexiol with the high prices of
bread. . Com. Bulletin.
| I'D +
Several cases are pending before the new
court of claims at Washington city, involving
the question whether any officer or employee
of the government can hold two offices, and
receive pay for both, at the same time. Ash
bury Dickens, who has at divers times, while
chief clerk of the treasury department, acted
as secretary Of the treasury and secretary of
state-and, be it added, with rare ability-is
one of the claimants, Mr.. Nourse, long in the
treasury department, is another. a.#a "
Mr. Badger, late U S. senator from North
| Carolina is of counsel for n Dickens, and in
the course of his argument, which is so briefly
reported in the Washington correspondence of
the New York Sun, he cited some interesting
facts in the early history which are not familiar
to others than careful readers Of political annals.
He mentioned the facts that John Jay was, at
the same time, both chief Justice of the United
States and minister plenipotentiary to the court
of Great Britain, second, that Mr. Marshall
was secretary of state and chief justice--for a
short interval-at the same time, that his Office
1 of secretary of state was determined by the
election of Mr.. Jefferson as president, and sue
cessor of the elder Adams. He might have
added that Mr.. Gallatin was, at the same time
secretary of the treasury and minister abroad.
i Robert Smith, was. at the same time, secretary
Of state and secretary Of the navy, and Mr..
Monroe held for considerable period, in 1914
and Is, both offices of secretary Of state and
secretary Of war. Mr.. Badgertold the follow
ing anecdote Of the superseding of Mr.. Jeffer-
son in 1901:
At about f2 o'clock at night Of the last day
1 of Adams's term, the friends of Mr.. Jefferson
! came into the office of Mr.. Marshall to take
+ possession but were told by him that it was not
vet f2 o'clock by his watch, the others replied
i that it was IL by Mr. Jeferson's watch, ane
that was the tmepi which now governed
IN the nation. Upon this Mr. Marshall gathered
4 up his unfinished papers and retired. .
1 There does not seem to be any real reason
to doubt that man may hold two Offices The
point in dispute is whether he can get the pay
:. Of both