The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-04-26
WASHINGTON.

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WASHINGTON. April rs, 1868.
The Nomination of General SchOneId as
Secretary Of War.
washington despatch to the Evening Telegram
says that 1t Is stated that General Schoheld had no
previous knowledge of the Presidents intention to
SEND In his name Secretary of War and his friends
mere say he will not accept the appointment. 1t is
also stated that there was no mention made Of the
matter IN the Cabinet and that the President acted In
the matter on his own responsibility.
The language said to have been used by the Presi-
dent In the message to the Senate nominating John
M. Schofeld to be Secretary OF War has
created good deal of gossip here to-day. The
nomination itself took everybody by surprise, as
nothing that could give the slightest intimation OF
the Presidents intentions in this respect has hitherto
TRANSFERRED The consultations between the President
ana General Schofed occurred at times when 1t was
most unlikely that the meetings could become known
to the public, and it having been understood that
General Schofelds visit TO Washington was intended
to be for but few hours, and that his business
with General Grant in reference to certain charges
preferred against him by Ex-Governor Pierpont all
contributed to prevent suspicion Of another move
ment being in operation at the White House to shake
or Mr.. Stanton.
Several newspapers publish what purports to be
which the President is made to say that John M.
Schofeld was nominated for the office Of Secretary
for the Department of War, vice Edwin M. Stanton,
to be removed As this version OF the message would
signify that the President recognizes Stanton as still
Secretary of War and totally ignores ad interim
Thomas its publication has caused something of
sensation. This statement, however, was not denied
at the white House yesterday morning, and 1t was
there asserted on the best authority that the mes
sage read 'vice Edwin M. Stanton, removed"
1t is SAID to-day by those who have excellent oppor
tunities to be well informed that this nomination Of
Schoheld is the result OF an arrangement made by
General Grant, for the purpose OF reaching harmo-
NOUS solution Of the War Department imbrogo; and
that 1t meets the appreciation Of Mr.. Stanton who 1t
is said, is willing to resign his position If General
Schofeld Is confirmed by the Senate. Whether there
be any truth in this rumor not it is confirmed to
some extent by the sudden disappearance Of all fears
on the part Of Mr. Stanton that there Is still plotting
going on to get possession OF the War Department.;
for within the past two or three days that
inenty patriotic and self-sacrihcng individual has
been IN the habit of leaving the Department in charge
OF the guard and going home to sleep I'm his bed and
take his meals In peace and comfort at his family
table. Taking everything into consideration there
Is strong probability that the long vexed question
of who is Secretary of War is in fair way to be
peaceably and definitely settled, whatever may he
the effect of the compromise upon the impeachment
verdict.
Inspection of the Garrison Mt Washington.
Major General Hancock and Brevet Major General
Emory yesterday afternoon made thorough inspec-
ton of all the troops comprising the garrison of
Washington, and after the inspection called upon
Mr.. Stanton at the War Department.
Treasury Circular Regarding the Reserve
Funds Of the National Banks.
The following circular In regard to the reserve that
national banks are required by law to keep on hand
to secure circulation has just been issued by the
Comptroller Of the Currency
TREASURY DEPARTMENT.,
OFFICE OF COMPTROLLER OF THE CURRENCY.{
NAsHINGT0NN April 25, 1868.
Numerous inquiries having been received at this
office as to what may constitute the lawful money
reserve requiredby sections thrtyOne and thirtytwO
of the National Currency act and it appearing that
there is some misunderstanding on the subject the
following circular Is published for the information
| and guidance Of the national banks:-
RESERVE OF BANKS LOCATED IN THE CITIES NAMED
l. National banks located in the cities named in Sec
tOn 81 Of the National Currency act approved June
3 1884, are required by law to keep as reserve q
| and outstanding circulation, national and State
two,ffths OF which % per cent must consist
OF lawful money Of the United States-thst is
two-fifths of % per cent OF the outstanding
circulation must consist Of plain legal tender
| aggregate amount Of deposits may consist OF COM
pound interest notes or plain legal tender notes and
two}hs Of Is per cent must be kept on hand in the
vaults OF the banks. The remaining three hfths of IN
per cent may be constituted pa fc nalf the
@ from any honsf Sa ns N s sssac sSs IS
York city, selected with the approval Of the Comp.
troler OF the Currency and the difference between
this One-haf and the twOfths In the vaults of the
bank THAT Is, onetenth OF the whole reserve) may
consist OF three per cent certificates, the whole OF
the OF 70 per cent may consist of three per
i nofaa and
| or OF Clearing House certificates, payable in lawful
| money or OF any combination OF these or, II the
make the reserve required for Its outstanding circu
lation, all or any part OF the three-fths OF rs per
Donnd interest notes wRch NV ~ ter 81 81
authorizing their issue TACT approved June 80 1854
| are not legal tender In redemption OF any notes
issued by any banking association calculated or in
tended to circulate AZ money But part Of the
hs OF % per cent required to be kept hand in law
full money can consist Of the three per cent certin.
Gates because the law authorizing their issue and use
as reserved (act approved March 2 1851 expressly
requires that twohnhs OF 20 per cent shall consist
| OF lawful money-that IL, OF United States legal
tender notes or specie The banks Of the city ofNew
York must keep ON hand the whole Of the rs per
cent OF the aggregate amount OF their circulation and
deposits required for reserve, twofths OF which rs
| per cent must consist OF lawful money above The
compound interest or legal tender notes and specie.
Of per cent certificates, OF Clearing House certin-
Gates, payable In legal tenders or OF any combina-
ton OF these that may be preerred and for circula
ton, OF any all OF the above items except COM
| pound interest notes, which, as heretofore stated
not legal tender for redemption OF circulating
notes.
RESERVE OF BANKS LOCATED OUTSIDE OF THE CITIES
NAMED IN THE ACT.
III. National banks located I'm places other than the
cities named in section 81 Of the National Currency
act approved June 3, 1891 are required to keen
reserve OF fifteen per cent OF the aggregate amount
OF their deposits and outstanding circulation, ma
| tional and State.
Twoafths OF this fifteen per cent must consist OF
lawful money Of the United States and must be kept
on hand In the vaults Of the bank that is two-fths
OF fifteen per cent OF the outstanding circu-