Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-03-16
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yet offered. It Is so framed as to touch the
various interests which have, thus far, been
found to conflict. It leaves the basis accord
ing to the population, which will suit New
England. It makes no illusions to race or
color, which suits Sumner and his particular
friends. It provides that the d~isfranchise-
ment Of rebels, by any State, shall not lessen
its representation, which will suit Tennessee
and Missouri; and act as q sort Of induce.
ment for loyal men to disfranchise the rebels
where they have the power, and, at the same
time, it will reduce the representation Of all
the States which exclude negroes from the
right Of franchise. There is 4 growing senti-
ment, in both Houses, that some amendment
Of the basis Of representation, to meet the
changed condition Of the country, must pre-
vail.
The Presidcnt's Appeal.
The New York World and the Washington
L~ntsAigeneer announce that President john
son having appealed, in his 22d Of February
speech. from Congress to the people, is too
experienced a politician not to see the neees-
sity Of using all reasonable means to make
that appeal effective.
Wherever, in any State canvass, the Re-
publican party does not, and the Democratic
party does, indorse his policy, he cannot,
without political suicide, give aid to the Re-
publicans. He may think the Connecticut
election so unimportant, from = national
point Of view, as to justify his indifference,
but he N let Pennsylvania go BY de-
fault. -
The National L~ntslkgeneer says that the
prospect is that the Presidents friends In
| Connecticut will vote the Democratic ticket.
The Massachusetts Legislature has been
ten days discussing resolutions indorsins
Congress and denouncing the President. The
most fiery element Of the debate 10 now being
introduced, on an amendment virtually repu.
dating Senator Sumner, offered BY John
Quincy Adams, and supported BY = large
number Of Republican members. The debate
occupies nearly the whole time OF the daily
session, and no conclusion has yet been ar.
rived at. .
Tho Fuss In ID Treasury Depart.
nent.
CHICAGO, March l5.-It has been known
for some time that Secretary Mcculloch and
Freeman Clark, Controller Of tho currency,
were at variance in respec. to the loan bill
and other questions Of financial policy. The
latter now publishes the correspondence.
Clark, under date Of February oath,
states his decided opposition to the bill,
for the reason that ample authority exists
with means in tho treasury not required
for other uses TO fund that portion Of the
temporary loan deemed desirable. He
says there must be ct this time, Feb. 22d,
one hundred and ffty millions on hand,
including deposits in the National banks,
and the amount it would be e~xpedient to
pay would not be more than the amount
of the increase Of deposit during the past
few weeks. We have, therefore, no occa.
sion for making any loan whatever ; all
can be done BY simply exchanging one
currency for another certificates Of indebt-
edness, compound interest notes, Ave per
cent legal tenders, and seven-thirty treas
ury notes, into ive-twenty bonds, under
the act OF March Sd, 1885, and this can be
quietly done without disturbing the money
market aud the business Of the country.
The Secretary being the judge Of how far
and how rapid the movement should pro-
coed I think there is no doubt about the
willingness of holders of the floating debt
to convert into fve-twenty bonds, to the
extent desirable if the credit OF our secu-
rites is sustained, but if anything is given
to put bonds upon the market to almost
an unlimited amount and to sell at any
price, it would in my view cause such I'M
certainty in the public mind Is to render
it impossible to keep up the price Of gov
eminent securities. As to the position in
reference to a foreign loan, it would, in
my view, if carried into effect, be almost
suicidal. An accurate report OF the con-
dltion OF the treasury Is not merely a mat
ter of interest to the public, but it is Of
grave consequence that Congress should
De correctly informed ID 70 inc actual re-
sources OF the Government 90 that It may
ies'siate inseiiiSentiy ana appropriate WISE
L., C..-x..v h,N,1laak -. -. .,nk
~. Secretary mas not yet
maze puon' any answer ihe letter is
oeine w''n muen interest," II
sn0u'o 90 eoaea. .ho o.n.ioiief OF tho