The Daily empire. (Dayton, Ohio) 1865-1867, 1867-01-16

WASHINGTON, January i8.

Washington Correspondence
WASHINGTON, january 70.
ruE BANKING BILL.
One Of the most important features In the
new BIN reported from the Banking and
Currency Committee, and which win short
ly come up for action, IA the provision re-
quiring national banks 10 surrender the
compound interestnotcs now held by them
as security for their circulation, and TO re-
place the same with simple legal-tendei
nop-bearing interest notes, as contemplated
by the spirit lf not the letter. of the exist
Ing banking law. There are nearly slb0.
100000 Of compound interest notes out
over SG0,0O0,OO0 Of which are held by IN,
banks of New York alone. Under the sys.
tenn adopted by the national banks, IN re.
gard to these notes, It will be impossible fol
the Secretary Of the Treasury 10 get holt
Of them until they are fully matured, ant
then the whole amount issued will come IL
for redemption about the same time, ant
with the interest compounded
THE MPEAoHERs,
The impeaching committee have placed
the business in the hands Of sub con.
sisting of Mossrs. Wilson, (chairman)
boutwell,, and Williams, who are 10 conduct
the Investigation. BY this arrangement
Mr.. Rogers, of New Jersey, the only Ad-
ministrati0n member of the committee, 1,
excluded from all knowledge of the pro-
lceedlngs on the impeachment resolution
| The whole affair Is said to be managed by
one-thlrd of the committee, and the Houst
will not afford any remedy The selection
Of three such bitterand ylndictiye Radicals
as those above mentioned indicates very
plainly what the majority of the committee
desire. In order that their proceeding
may be more eHectually kept from the pub
I've eye, they have agreed to bring any news
paper who may publish them before the
bar of the House 20 answer for contempt
Of It's privileges
BUSINESS
In the short period LETT of this Congress
great political questions, before both
Houses. are to be the subject of much
discussion, and perhaps of disagreement,
and which are yet undecided by the Radi-
cafcaucuses. Not all even of the most inn
portant Of these questions will De disposed
OF at this session. Many Senators are absent.
looking after their recollection, and special
committees will absorb the attention of a
considerable number of ihe members OF
both Houses. The rowing commissions
given TO members TO smoke out impeach-
able matters must be executed. la fine.
Congress at this session will not even have
time to carry.ouHtheir political programme
laid down for It. The work Of this session
Is only preliminary to action In the next.
As to the great practical measures called
for by the country, they will probably be
utterly neglected.
STEVENS AND CAMERON.
Ranublssaf, Ganotc,as 4 %. 80 III.
eXulttions over the defeat of "old Thad. .
Stevens. Their uneasiness mt the bare pos
sibiltty of the inecssant annoyance appre-
hcnded by them from his translation to the
Senate can not be exaggerated, and the
certainty that the great cOmmoner" will
end his career in the ''lOwer House" has
filled them with an ecstacy which, beaming
from every face, at once convinces the be-
holder that it is heartfelt.
The contest between Stevens and Cam
eron has no political Significance. | learn
from reliable authority that the whole nf-
fair was matter purely of dollars and
cents. Cameron is the representative of a
kHOtcR ciQHe,i it7h0 are mdRGuUering 10 dc0Hige
control OF a projected ''dir line" railroad $50
called) between this city and New
York. Stevens and Forney represent
another clique, having the same OBJ
ject in view. Cameron's partv out
bid the other, and he Succeeded
that is all. 1t is known here that Mr..
Cameron's strenuous efforts to effect the
purpose of his giant combination will com
mence simultaneously with his torn, and
II not before successful, his efforts end his
term viii expire together. He comes to
the Senate for this specific purpose, and his
doggedness, perseverance and great tact in
engineering measures of this kind make
him most formidable opponent to those
having adverse interests. So let word to
the wise be sufficient.
THE BANQUET BILL.
The magnificent banquet given to the
Radical Congress at the opening of the
present session, has not been paid for, and
the caterer has sued the committee en-
ployed In getting up the ridiculous affair.
The bill is S25,000.