Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1862-11-25

A comnnnication rom Judge DAvlp ncDos
AID. which sse publish this morning. iniin,ates
that We misapprebend the charge Of Jsdge
swAYxx IN TIE case OF Hrsrox, tired for treason.
We did not hear H. We made our report from
the impressions Of those that did bear it. We
NAV have misstased the points made by the learn
ed Judge, bat il 90. our report does more credit
10 him as lawyeF aud patriotic citizen than
tha, ofJudge McDoSALD's
The Workings OF Paper Money.
The rates Of foreign exchange are about forty
per cent. higher than they were this time year
ago. This IS equivalent 70 an extra duty of forty
per cen, on al our ioportation-. and : draw
back or discount Of forty per cent. on all our er
ports Of produce and manufactured articles.
The New York World. in an article On this sub
ect says that the imports for the current year
estimated at s240 100000. and the exports of
products at 5000. 900 900. The present high rates
Of exchange, therefore. form Tax OF $40 600 900
per annum. and, assuming twenty per cent for
profit on the same, gives .otal of $Il5. 900 900,
which the American consumer pays annually for
enhanced rates OF exchange compared with last
year. when our currency was at "a specie stand
ard.
Ifthis tar Of Sis 900 900 per annum were re.
ceived BY the Federal treasury. then there would
be some satisfaction in IT, but this vast sum bene-
fits no interest except that of foreigners. The
discount or drawbaek of forty per cent. on our
exports. arising from the same evil working of
the high rates OF exchange, amounts to about
$4,000. 900 per annum. That is To say. the for
eign buyer receives the -four at about 81 80 per
barrel. which the citizen Of New York is com
PEELED To buy at 81. The British manufacture
receives the American cotton at aboIt SO cents
per pound which the American manufacturer
Is compelled TO buy at 60 cents And the same
advantage over Americans OF 40 per cent. dis
count ON all American wool and other products
is enjoyed by foreign buyers and consumers in
Europe
The paper money system Of the Secretary Of
the Treasury is thus working for the exclusive
benef, and profit of British and other foreign
manufacturers. Ii will enable them to undersell
In this market our own domestic manufacturers
of cotton aud woolsn goods Domestic manu-
Eacturers cannot compete with foreigners on these
unequal terms of buying the raw material here.
This state Of affairs is grave aud menacing TO
American interests. IL threatens to swamp our
own manufacturers unless there is an immediate
return to a specie standard for prices.
IL is evident that our commerce can not long
sustain its profitable working under the present
paper money system. a change is imPeratively
demanded to save our domestic manufacturers
from ruinous competition with those of Europe.
The annual diversion Of Sll5 .0OO.0O Tor the ex-
change tax on imports. and $50 900 900 for the
drawbacks on exports, making total of Sl!5.
900 900 in cash capital taken from the channels
OF active trade.is an evil Of magnitude sufficient
to embarrass our whole financial system. These
evils the natural results of using legal tsgder
notes to the extent of $3.50 900 900 instead oil
the same amount Of certificates of indebtedness.
and Treasury 365 notes for $40 and 500.
Dismiss Officers.
The special Washington dispatches to the Gin
cnnat Gazette contains the following in refer.
ence to the recent order for the dismissal of off
GERS:
The dismissal of eighty one officers from the
service this morning produces "a decided sensa-
ton in military circles. Swarms of officers who
infest the hotels begin to tremble for their own
fate
The following is complete list OF all Western
officers dismissed with loss of all pay and allow
a1ces that are now or may become due Dis
missed for absence witho 1t leave:
Second Lieutenant Eugene Fauntleroy. Doth
Illinois; Captain Michael Russell. 18th Pennsyl-
vanis; Captain n. s Thomson, 9th Indiana
battery: Capt J. Il Stockton. LIST Kansas: Capt
ii 5 Dygert. 18th Michigan: Assistant Surgeon
Bigelow, 9th Missouri cavalry; Captain II G.
Thomas, , Kentucky; Joseph Forman, Lieu
tenant, 81 Kentucky: q. Carson. Lieutenant and
Quartermaster. ,! Kentucky; +. F. Giles. Cap
tain. 9Th Wisconsin: II. Richardson. Captain, It'll
Wise nsin; q Wesler. Lieutenant, 7sh Wis
consin: s B Moore. Lieutenant. 9TH Wisconsin;
ROesler. Captain. 5Ith Illinois: ID. A kimball.
Lieutenant. 1884 Ohio: John kesler. Captain.
= 20th Indiana: Wm- u. Gsinne. LIST Lieutenant.
Goth Ono.
Dismissed for other reasons: Geo H. Mitchell
Assistant Surgeon. oSth Penn. for absenting
himself without authority while awaiting sentence
OF court martial; j W BENGAL. 18th Illinois,
Cav. deserving bis command: Clayton Puddleton,
First Lieutenant LIST Virginia Artillery. not re
porting Tor duty since muster;J Early. Lieuten
ant , Kentucky Volunteers, absent without
leave. aud lntemDcrance. John j Hooker, First
Lieutenant 18th Ohio. being taken prisoner ut bis
own desire, John Kendall. First Lieutenant 7Ih
Kansas Cavalry. intemperance. ineficiency and
absence without leave; C. Murphy. Captain 5tb
OHIO Volunteers. absence without leave and
speaking in an improper manner of the war and
President
The following are dismissed. but do not lose
paw and allowances due.
X II Kerr. ID Lieutenant It'll Kansas cav
airy, intemperance and carelessness in discharge
Of duty: Frank A. Hart, ii Lieutenant, 94th
Ohio. sbsenting himself from his command with
out leave during retreat; j W Taylor, Lieu
tenant Colonel OF the 10th Ohio, represented by
the officers of the regiment troublesome
These dismissals are officially announced at the
War Department.
For the Daily State Sentinel
The Treason Trial.
As another trial of A. :. Huston, for treason
viii be had. think il a pity that the newspaper.
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