The New York herald., 1869-01-19


par snnuus leing . sum yes5 much larger than the
annual apo1pe = nd guarantee, and n . further
seouS8 = tne Govognment In case Of any dencency.
The Secnoory Of the Treasury b empowered at
any time to order one third or the groes eanings a
the road to be paid into the Treasury Of the United
States unri Al such dencences shall be made good.
10 secure the payment Of the principal Of said
toned, tbs company Il required to pay into the
Treasury II the United States two per cent Of the
gross earnings Of the road which is to be invested
- sinking FUND for the redemption OF said bonds
at maturity. This is claimed TO be the Inauguration
Of new policy, ana while It does not Increase the
public ddbt or require the issue OF government
bonds, 1t - extends the aid Of the governments as
TO insurethe prosecution OF this enterprise without
danger ofaddng to the public burdens or OF hazard
ing the pubic credit. p 4
Purchase and Sale or Gold and Stocks by thc
.e Government. na e
Senator MorriI, Of Vermont presented to-day q
petition from merchants, bankers ana business
men begging the Senate ana House OF Represents
lives 10 pass such laws that hereafter all purchases
or sales d the loans and bonds OF the United States
account OF the United states shall be made by in
viting public competition through advertising for
proposals. and that all sales Of gold for account Of
the United States shall be made at public anction
by an authorized ofricial OF the Treasury De-
pertinent at such time ana place, which shall be
duly advertised. as the Secretary Of the Treasury
shall designate. The petition is signed BY Messrs
Duncan, Sherman Il Co.; Dabney, Morgan h Co..
TAYLOR Brothers, Green Il Sherman ana 214 Others,
OF New York; also by the president OF the First Ma
tional Bank, Thomas Watson Son, Low Matthews.
jeremiah Alien and 225 Others Of Philadelphia also
by Cornelius @. Atwood, EDos, Briggs a Co.; J. b.
wentworth, G. N McCullogh and I5o Others, Of Bos-
ton; also by 195 OF CHICAGO.
TEie New Finance Bill.
The bill reported from the Senate finance commit
tee by Mr.. Sherman is the product Of twelve days.
consultation and is intended to declare the embod
led financial wisdom OF the Senate, though it
evidently bears the mark OF being good deal the
emanation OF Senator Sherman himself. 1t egalizes
gold contracts, applies the proceeds Of customs
duties to the payment Of the interest OF the national
debt in the form Of q SINKING fund; authorizes the
issue Of ten-forty ye per cent bonds to be exempt
from taxation; authorizes the issue Of gold demand
notes to the extent OF coin and bullion in the Trea
sury; and lastly. gives authority to the national
banks to issue sixtyfve per cent Of the amount Of
their bonds deposited in the Treasury in notes pay
able on demand in coin, and no bank shall receive
leHS LHHu foU,UU Oh SUCH uOttbs III uUHuCldl CTCeS
this bill is certain to become prominent theme Of
discussion, az 1t is believed to be the plus ultra
OF Senatorial legislation In that direction for this
session. ~
The AssIsnments or tho eArmy-Recommenda
tIons Of the Secretary Of War.
It appears from an oficial document that the
number OF troops guarding and policing the
frontier is o81 operating against the Indians and
policeing the frontier. 6,s24; operating against,
Indians, 2,11o; guarding the Union Pacific Railroad
and policing the frontier, 657; guarding
the Union Pacific Railroad, 4o5; guarding trannc on
the Missouri river 1251; operating against Indians
and guarding the Union Pacific Railroad, S553. Total
regular troops 256o1; total volunteer troops, 1913.
Aggregate, 26slA. The employment OF volunteers
and the acceptance OF one regiment Of cavalry from
Kansas was authorized by the President II General
Sherman deemed 1t necessary to successful prose-
cutlon Of the Indian campaign. The volunteers are
to serve for six months The Secretary Of War
recommends that he be authorized to hire such suit
able building In New York or vicinity a. may be re-
qured for safe and convenient storage Of army stores
Of any description at q total cost not to exceed
$4,000 per annum. He further recommends that no
action be taken at present upon the proposition to
purchase an armory building In New York city, as
submirted on the losh ultimo
State Tnk4s Upon RaiIroud Passengers.
The war Of Capitalization on the reserved rights
OF the States threatens be advanced another stage
in the resolution offered by Senator Morgan to-day
calling IN question the right Of State to levy tax
upon passengers conveyed across its territory on
railroads. rendering the practice thereof Illegal and
attaching penalties to Its enforcement
Reconstruction or Mississippi.
The Reconstruction Committee finished its investi.
CATION OF the condition Of Mississippi to-day and
sent the testimony and other documents to the
printer. No decision as to the character OF the
report to be made to the House has yet been reached
Az already stated in these dispatches, the CON-
mittee is known to be divided on the subject,
but number Of them. perhaps O majority, are In
favor Of admitting the state to representation In
Congress with her present State constitution. Mr..
Bingham introduced bill for this purpose to day.
1t goes to the Reconstruction Committee, and It's
consideration will precpitate the quarrel regarded
as imminent among the members OF the committee
on this subject.
Regulation or the Judicial Circuits.
The bill introduced In the Senate to-day by Mr..
Trumbull regulating the judicial circuits OF the
United States has the importance OF meeting great
and growing necessity Of the Supreme Court by
arording II large auxiliary aid without disturbing
It's present organism. The amount OF business
thrown upon the hands OF the nine justices OF the
court is entirely dsproportionate TO the time and
means at their disposal. The court as at present
regulated quite adequate to the judicial business
Of the country twenty or thirty years ago but now
It Is felt that the necessity exists for such an en-
largcment OF Its capacity a. VIII meet
the immense increase OF litigation corresponding
with the growth OF population. by this bill the
nine judicial circuits Of the United States viii be
attended to BY nine additional judges, each
siding within his circuit and exercising the power Of
Supreme Court Judge and acting alone or in con-
junction, as occasion may anord with either dis
trict Judge or judge, Of the Supreme Court. by
this means the time Of the Supreme Court judges
will be spared from circuit duty IL peng optional
with them to attend, and be devoted to the cases
on the calendar Of the Supreme Court alone II win
also avoid the occurrence Of appeal from the deci-