The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1866-04-25
BY TELEGRAPH.
MIDNIGHT REPORT.
NEWS SUMMARY.

NEW YORK, April "A.
The Secretary Of the Treasury has written
q letter to the Chairman of the Senate
Finance Committee on the apportonment Of
the national currency. He says the Senate
bill No. 256 is seemingly general in its pro-
vision, but in effect it singles out Massachu
sets, Connecticut, and Rhode Island, and
reduces their circulation to certain arbitrary
standard. 1t practically asserts that the cir
culation of the national banks in Massachu-i
setts shall be diminished to sixty per cent;
the circulation of the national banks in Con-
necticut to Rfty-two per cent, and the circu-
lation of the national banks in iihode Island
to seventy four per cent. The principle on
which this reduction is based is not correct
one.
! One hundred and seventy.6 five thousand
of the rural population Of Ohio or Illinois do
not need tenth part required by the manu-
| factory and commercial communities of Rhode
Island. This bill is an amendment to section
twenty-one of the present national currency
act, and proposesto withdraw the circulation
from the banks by reducing their rates. 1t
will affect the banks in all the States more or
less Aeertain fixed rate Of reduction is TO
be affected gradually, as the circulation be-
comes worn and mutilated, and is returned
for redemption The amount by which the
circulation is thus diminished approximates
4 to ninety -fiye million dollars, and 1t is pro-
posed, in anticipation of this reduction, to
authorize the issue Of circulation to banks in
States that have secured the least proportion
ate amount Of circulation, as it may be
needed. 80
The Secretary thinks it important that sol
! vent State banks should have an opportunity
to become national banks; otherwise,
4 by the operation of the laws Of the United
States they will be compelled to wind up after
July 1st; that it is q matter of great impor-
! lance that some provision be made to meet
wants of those States which have been in re
bellion, as banking facilities 1sc necessary
to. develope the industrial interests Of the
South, and stimulate the production Of the
resources for staples enter largely into the
financial interests Of the country.
-ass New YoRK, April "a.
The steamship America, from Southamp
ton on the eleventh instant, has arrived and
10 in qaarantine.
The ship Eliza. from New York for Bre-
men, was run into and sunk of Portland,
England. All but one on board Of her per-
ished. IS III r-se'.s
| The Savannah Herald Of the twenty first
.assant states that Capt. Duncan demeuded
! teat his trial should be reAAuded 70 the
! county court, but the Military Commission
refused. - sssas .Ss
ID Eoy.1J enkens has issned proclsnaAios
explanatory OF the position Of The country
and the people Under ths recent peocasreaios
, Of President johnson, IN eject statine thsl
J the former statns j. modified, but not otradically
changed. - ]
, The Board of health met this evening. ~
II is pn1esstood thst severed reports IN reIa
tioasto the cholera in quarantine were submit
j ted and acted upon. Thus fIf Tiers Ea5 ~,
No cases in the city, asd Il ~ nssGsaaay -
cautions are taken, there will beae heasses
lei1s - 1aaRps The seFee1s ~ teqRqesAep(
\ 80 1lll - n III -. II 61ta W.
S&DDnnHSfn1 80 49, 3NJI1 fefss=srs ,