Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1868-11-11


Iy Watched-CabInetS pecuIatIOns.
Special to the LouiviIle COurier-J ournal.
WASHINGTON. Nov 9.-The stringent
conditions of the money market in New
York continues to furnish the subject for
much speculation in financial circles here
An interview with Secretary McCulloch
was had this morning, in order to ascerS
tain what course the Treasury Depart
ment would pursue. Mr.. McCulloch ex-
pressed in strong language his determi-
nation to break up these movements
which tend to bring about a financial
crisis. As to controlling the currency,
he was clearly of opinion that he had the
necessary power to reissue legal tenders
to the amount on hand uncancelled. The
law restricted him as to the amount he
could retire, but did not forbid and re-
issue. AT present he believed there was
no occasion for putting out these legal
tenders on the market Orders had been
given to Assistant Treasurer Van Dyck
to exchange SI4000,00O of the three per
cent temporary loan certificates for that
amount of bonds, which would relieve
the present stringency by allowing banks
to hold them as part of the reserve, re-
leasing that amount Of greenbacks. If
this did not give sufficient relief to the
market, then the subject of reissuing the
legal tender notes would be considered.
The Secretary said that all statements
about the Assistant Treasurer at New
York selling bonds during the present
stringencv were false Bonds had been
exchanged during the past month for
tempory loan certificates; but before the
market assumed its present aspect, the
department had been adverse to taking up
these certificates but as they had been
presented with a request for bonds, this
exchange had been made. In regard to
the statements telegraphed to New York
that the Secretary would not reissue any
legal tenders, he pronounced them incOr~
rect. If the occasion demands he cer-
tqinly would issue them to an extent
necessary to relieve the market
GEN. GRANT
IS now the sensation Of the capital,
and his movements are very closely
watched and chronicled. This morn
ing he walked up the avenue to his
headquarters and entered upon his official
duties. A number of persons visited him
during the day, including COlfax, SchO-
field, Senator Morgan, Gems. Hancock,
Thomas, and other officers. The General
received them all with great courtesy and
bowed his thanks to their cOngratula-
tions. The conversations were generally
rather brief, though in some instances
quite an animated talk was INDUCED IT,
General Grant left his Office about l:3O
o'clock this afternoon, and, as he passed
through the Treasury Department. called
on his old friend, Gen. Spinner United
States Treasurer, and passed a few moS
ments in social conversation with him.
S9ihh n is great iavorite with the Gems
eral. Speaker Colfax, Wade, Morgan,
and others dined with him to-day. The
Radicals are very enthusiastic over the
General, and say Congress Will now take
the back track on all legislation enacted
for the purpose of Embarrassing President
johnson. They have also discovered,
since their leader has been chosen for his
place, that the salary attached to that
position is entirely too small, and now
propose to double or ever quadrup the
amount but in fact anything the Gen
eral desires his obsequious friends will
be but too happy to accord him.
GRANTS CABINET.
. The appearance in the capital of Wade
Colfax, Morgan and other old political
stagers stimulates speculation and gossip
about the incoming Cabinet, as we'll as
the policy Of the President elect The
officers Of his household vehemently de-
clare that he has no policy, and that his
Cabinet will not be made known until he
puts on the robes Of Office; but there is
plenty outside gossip on these subjects,
and as such it is transmitted. Politicians
name for the State Department, Motley,
Stanton. or Trumbull. The War Depart
ment is conceded to Schotield, and the
NAVY Department to Admiral FOOte or
Porter. For Attorney General, J. I. VII"
son, of Iowa, or Mat Carpenter. For the
Interior Department, Wade, Ihayer, or
Washburne. The Treasury Department
remains the great bone of contention.
New Workers think their great financial
interests demand the selection from that
State, and named Fenton, Stebbins, Cisco
and Morgan. Senator Morton, Sherman
of Ohio, and Ben Wade are also spoken
of in this connection, but of all named
there is but one certain of Cabinet ap~
pointment, viz Ben, Wade. Ben fell
fighting on the ramparts, and as cor
rupt Senate could notpake him President,
and his own State rejected him, 1t IA LETT
for Grant to provide for him.
THE wAsHBURNE FAMILY.
are ezpsctant, but Elihu c. will alone Of
the tribe receive Executive fayors. 1t is
thought a strong effort will be made by
he Radicals to ship him out of the cOun
try, as they fear he will endeavor to par