Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1862-06-12

WASHINGTON, June 1.-THE president has
appointed Christopher p. Wolcott of Ohio as
sistant secretary of war, in place of Thomas
X. Scott, resigned.
WASHINGTON, June 1.-THE secretary of
the treasury in letter to the committee of
ways and means says, ''Under the law sixty
million dollars of demand notes receivable
for customs have been issued and ninety
million in notes not SO receivable The out
standing amount is therefore one hundred and
fifty millions dollars, being the entire sum
heretofore authorized by the existing stat
uets. OF this aggregate ffty-six million five
hundred thousand dollars in demand notes
are held by banks and capitalists and
not used as circulation, being held at premi-
UNI in consequence of their availability for
customs. The whole issue of sixty million in
demand notes may thus be regarded as prac-
tically withdrawn from circulation. The
limit Of the temporary deposit is now reached,
and nothing further can be expected from
that course. 1t is, therefore, upon the con-
version of United States notes into five and
wenty-hundredths, now practically linn
tied to the ninety million dollars of
legal tender notes, and from the receipts
from customs, that the treasury must mainly
depend under existing legislation, for means
to meet current expenditures. Hence the
suggestion of the secretary Of the treasury,
for authority to raise one hundred and fifty
million dollars in legal tender notes, if of a
denomination less than five dollars, in accord
ance with which the bill was to-day reported
from the committee Of ways and means.
The correspondence between Gen. Wool
and Gen. Huger, shows that misunderstand-
ing existed between them. The latter says
he did intend not to give the former all the
officers once retained as hostages in exchange
for all the privateersmen, but to give him such
number of them in exchange as would be
required by the cartel establishing the equiv
alent of rank, and the officers to be exchanged
as usual He also expresses the opinion that
perfect understanding has been effected be-
tween the two governments for general ex-
change of all prisoners of war. Gen. Wool
1t appears, would not deliver the privateers as
huger requested, until he received the host
ages and the secretary of war, Randolph, in
sisted mat Ten. Wool should name number
equal to that of the privateersmen to be ex-
changed.
Inc following officers have been ordered to
report to commodore Pendergast for dutv on
board the Powhattan Lieut.. Jonathan Young
and mldshlpman George M. Bache, and Lient.
Leonard Paulding is ordered to report to
commander Pauldlng for ordnance duty nj the
new lorh navy yaru; Lieut.. M. g.. Camn-
bell is ordered to the jamestown at Philadel-
pha; Nathaniel Moran is promoted from
masters mate of the Relief to acting master
at the New York yard.
There is no ground for the report set afloat
in Wall street, that the secretary of the treas
ury is or has been engaged in private negotia-
tons with New York parties, for the exchange
of the $40 notes for demand notes, or that
these negotiations were brought TO an abrupt
close by reports in Washington Of dissatisfac-
ton in Wall street. The whole truth is sim
ply this The treasury last week needed more
money than could be readily obtained from
the ordinary sources Of supply, and the secre-
tary therefore accepted several offers of per
cent premium in demand notes, for the $40
bonds, amounting altogether to two and a
quarter millions, and having obtained all the
money required before the close Of the week,
declined accepting any offers after Saturday
No Partially was shown to anybody. No Of
fers made during the week were Declined
and none made since have been accepted. The
secretary looked simply to the public interest,"
and was satisfied with getting what money he