The States and Union. [volume] (Ashland, Ohio) 1868-1872, 1869-12-29

tor the better could be produced he
would not survive many months
During the delay attending the res
ignation of MI. Justice Grier, from
the Supreme Bench, and after MI.
Stanton was mentioned as a success
or, his health was stated to be i'm
proving. Indeed it was noticed that
the severe case of asthma with which
he has suffered for so many year was
abating, and his health was getting
bett r, although not wholly without
concern. 1t is said hat he has not
had an uninterrupted nights sleep
for several years on account of his
troublesome and painful maIady.
BoUrwELL's NEw FINANCIAL BILL.
Secretary Boutwell, has prepared,
and intended to have presented in the
Senate yesterday, a bill TO fund the
public debt substantially on the plan
proposed in his annual report, but the
consideration of Executive business
prevented the Senator intrusted with
it from submitting it in open session.
1t will be laid in the meantime before
the Finance Committee of that body
for consideration during the recess.
The bill proposes, first a new loan not
exceeding a thousand and two humid
red millions OF dollars, principle and
fnterestpayabse in coin; second, II
fixes the interest at four and 4 hal:
per cent , and provides that it shall be
paid semI-annually, and that it shall
be paid to European holders OF the
loan at Paris, London and Frankfort;
third, that the bonds, principal and in
terest, shall be exempt from taxation /;
fourth, that the bonds known as five
twenty bonds shall be received in ex-
change for the new bonds. The rea-
son that the amount of the proposed
loan is limited to twelve hundred mil
lions of dollars is based on the belief
of the Treasurer that it will red.ce
the bonded debt, by purchases OF
bonds, during the present fiscal year,
to fourteen hundred and fifty millions
of dollars. The Secretary deems it
prudent to leave outstanding two hun
dred and fifty millions of fve-twenty
bonds.
Since this loan was proposed by the
Department it has been freely canvass
ed. and has been received with more
disfavor than favor. Foreign CAPT
talists have written that, if the ex-
change is not TO be made compulsory,
it will injure American credit abroad;
but they have been answered that
such an exchange is not TO be made
compulsory. The next interest OPP
posing is that of the National banks
who seem to be against banking on a
four and a halt per cent, bond.
THE GEORGIA BILL.
1t las rranspired that the Georgia
bill had to be rushed to the President
by the Senate Committee on Enrolled
Bills, for his signature, in such haste
that there was not time enough left
to notify Congress in the usual way.
He approved it the moment it was
laid before him, and sent word to the
Senate by Mr.. Thayer, of the COM
mittee, who informed that body that
he was requested by the President to
inform the Senate that he had signed
it.
CONSIDERATIONS OF BourwELL's PLANS.
The Senate Finance Committee to-
day discussed at length Secretary
Boutwells proposition of retiring
tlIirty-five millions of the three per
cent certificates, and issuing i'll their
stead thirty-five millions of National
Bank currency to supply the south
and west and other localities with the
requisite banking facilitias. The
Committee are understood to look
with favor on this proposition. There
are several members of the committee
who would increase it to forty-fiye
millions in order that there might be
ample banking facilities wherever the
people desire it. The subject will be
resumed tomorrow with n view OF
maturing a bill al once, as there is a
strong pressure in the south and west
for such additional banking facilities.
1t is understood that the Committee
are decidedly opposed to any further
initiation of the currency.
DEAD LETTER LAW.
The tenure of office law, the repeal
of which was asked TOR in the Presi
dents message, is so little observed
that its existence is a matter of indIt-
terence to some of the cabinet officers
as at present it is in effects dead let
ter. IL appears that thus far, al
though hundreds of officers were sus-
pended during the recess of Congress.
not a single reason for suspension has
been communicated to the Senate b.
the President, and the Senate has Act
ed upon nominations TO fill vacancies
caused by such suspensions in the
same manner that it has acted upon
vacancies occurring from death, res
ignation or other like cause. The rea-
sons for suspension in some cases may
have been furnished to committees Oh
special application, but these cases
are exceptions. In view oil these fact,
it is not improbable that repeal will
be carried in both House and Senate.
A GRAVE ALTERNATIVE.
Mr.. Hoar is reported as having
said that if the Senate preferred to
have him three years and a half in
the Attorney Generals office, inste d
OF confirming him as a Justice of the
Supreme Court, he was willing.
BUTLER HAULs OFF.
Butler, it is said, declines any fur
ther controversy with Greeley, and
will not reply to his last letter.
SIGNING OF THE BILL ETC