Orleans independent standard. [volume] (Irasburgh, Vt.) 1856-1871, 1869-12-14
Letter from Washington.
WASHINGTON, D. c., Dec. 6, 1869


make dollar. Such is Washington today
md such it will be, only more so, for the
next eight months.
The trains for two or the days past have
been crowded with congressman and strang-
ers. But few families of the members who
anticipate going home for the holidays
have accompanied them, although it is es-
timated that fully one half of the members
have already engaged quarters for them
selves and families for the session, which
indicates gayer congressional session this
session than we have ever had before. The
grave and important questions of the day
which are almost spelling for the want of
action are themes for excited
discussions in the various circles of the
city.
The idea of beneftting the financial
condition of our country by speedy re-
sumption of specie payment does not, az
far as | can learn, receive the favor of
many congressman. The strongest press
ure has been brought to bear upon Secre-
tary Boutwell,. to get him to recommend
in his report an increase of the volume of
the currency, and the only response from
the Secretary is that he has incorporated
in his report a suggestion, which if adopt
ed, will relieve the wants of the whole
country. Let us hope and pray that such
is the case, and that such a plan in what
ever form it comes will be speedily adopt
ed; for it is an alarming fact to know that
with nearly seventeen hundred national
banks all in a solvent condition and in ac-
tive operation, the circulating medium is
less than one fourth of what it was in the
financial crisis of 81, and that our circu-
lation today, per capita, is only about one
fourth of that of France, and little more
than one sixth of England
Virginia, Mississippi and Texas, will
each by turn receive the due consideration
ofcongress. The representatives of the for
mer has as it was expected, at the opening
Dominion for immediate recognition, and
seats for her candidates elect. There has
of late been so much forestalling the action
of congress in reference to admitting Vir-
ginia on the part of Walker and party
that it is thought that congress will take
breath in the matter, and that it may be
sometime yet before she is admitted into
full fellowship.
The Internal Revenue Department has
forbid the using Of the Tice Metre adopted
some two years since. 1t has been found
to register so imperfectly that the govern
ment has been detrauded during the pas
year out of an immense amount of money
| The Metre now under consideration, which
has already been ordered to be put up il
some parts of Illinois, has been expert
mented with for some weeks, and it is saiC
to be proof against the trickery of whiske,
distillers, and that it will in every instanc
register correctly.
The abstract of the reports of the Ma
tional Banking Association of the Unitet
States, proves them to be in a sound ant
healthy condition. The amount of Lawful
money reserved here is largely in excess O
the amount required by section 81 and 8
of the currency act, thus providing agains
all losses that might occur in the regula
course of business, and securing perfeC
safety to the depositors.
In the country banks the amount of sue
reserve required is Is per cent. of the tota
amount of liabilities, and the reports sho'
their condition in this point to be as fo
lows: Amount of liabilities to be protec
ed, 1864, 376, us "a; reserve required, $50
356, All 50; amount held, SS0,965,6 51 81
or 90 per cent distributed as follows :
Legal tenders, $50, 215, 1874; specie, 81 ,573
sol 81 3 per cent. certificates, 1875, 00C
in hands of redeeming agents, S39, 1882, 80
SO.
In the cities of redemption the amour
required is % per cent. of the iabilitie
which are shown by their reports to be 4;
follows: Liabilities, s207 ,621, 1882 80; n
serve required, S51, 900, 495 IS; amour
held, $50, 237 ,461 Y, or % per cent, di
tributed as follows: Legal tenders, SOC
40, 400; in hands of redemption agent
ST., 287 ,547 Of.
In New York city the reserve require
is 25 per cent. but the banks are obligt
: vision made in the act for redemptiC
) agencies of the banks located in that cit
= Their condition as to reserve is as follow
Liabilities, 1896, O1O, 45S SO; reservere qui
t ed, S49, 002, 5S7 10; amount held, 68,O1E
5 POI 70, or "a per cent, viz: Legal tender
e $21 1888, SCI specie, SIS, 69O,6 70; 3 p
: cent. stamped for dealing houses, SIS, 30;
: 900; plain, 3 per cent, $9,700,000. TIL
. is one of the strongest arguments in fav
t of the system as far as the depositor is co
: cerned, making it almost impossible
V those doing business with the banks to 10
: when the reserve is kept up to the requir
: standard.
e Postmaster General Creswell will ma
# a big effort to get congress to consider Fl,
e orably that portion of his report recol
e mending the abolition of the franki
d privilege. 1t is understood that he has
It his report, fortified himself with argumer
: meeting every objection that can possib
be raised against the repeal of the frank
il law. 1t is thought here that since the |:
d was so modified last spring that it prohil
|. ted member from using fac sinilie star
: as 1t had been customary for them to {
and requiring them to frank with their pc
a that it will be quite a difficult matter
> get them to repeal or even modify
present law.
t. Anorder was issued Saturday by directi
Of of the President, forbidding the heads
h departments and their subordinates fire.
N disclosing to any one the imports of tn
r forthcoming reports to congress, and the
s. fore as yet we are not supposed to KIN
5, here but very little of the Presidents IN
DR. sage or the reports of his cabinet W
d. venture to say, however, from what l ha
~ known about it that the report of the co