The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-07-26
WASHINGTON.

WASHIN GToN.
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WASHINGTON, July as, 1850.
| The Psblic Debt-Socrctary Boutwelps Policy.
| After the present month no further reduction oil
the public debt is expected until October Novem-
Der The closest calculations made BY the Treasury
Department. ofcials show that the reduction of the
debt for July WIN be about $4,000, 900. This Will
make sAooOoooo OF reduction OF the debt since the
Attn OF March. Should Congress keep Its hands on
aud neither reduce the taxes nor increase the ex-
penses OF the government, Secretary Boutwell, hopes
10 reduce the debt about 800 during the rst
year OF his administration OF the Treasury Besides
paying the ordinary expenses OF the government
aud the interest on the public debt the dlsburse.
mtpts from the Treasury for the next two or three
mon tins VIII be heavy. At least $4,000 900 will be
paid out FOR pensions while the acquisitions from
the army on account OF the Quartermaster's De-
partment will be quite large. 1t Is probable
that the purchase OF bonds will be discontinued for
the present by Secretary Boutwell,, after next
Wednesday for the reason that the currency balance
In the Treasury, in view Of all the prospective de-
mands upon it, Is rather low. The amount on hand
Is about twenty-five millions, which Is less than the
amount on hand at the same time last year. As
already tntmated in these dispatches the Secretary
has no immediate prospect OF being able to sell gold
He does not think he can AFFORD to do it and keep
his balance up to the proper standard Mr.. Boutwell,
has adopted the plan OF setting apart many mil
lions OF gold daily for the payment Of the interest on
the public debt and In this way he always tell
how much he has to SELL 1t may be stated that
the Secretary In his purchase OF bonds and sales OF
gold is governed entirely by the condition OF the
funds IN the Treasury, and not. some suppose, by
the price OF bonds or the premium gold.
The Condition Of tho National Banks.
The abstract Of the reports made to the Comptr0-
Ter OF the Currency OF the condition or all the
tlona banks 1T the close Of business the 18th of
June shows the resources and liabilities to DO
$4,000; capital stock, 1872 $50 900; specie,
sls 45o, ooo legal tender notes. sSl OOO, O00 three
per cent certificates nearly S. 0Oo 900; surplus fund.
$S2 00o individual profit, nearly So OO0 900;
dvidual deposits, $074,s07, 900; United States de-
posits, $40, SO1 900.
The CooIie Trade Prohibited by the Law.
The Secretary Of the Treasury is in receipt Of :.
letter from the Collector Of Gus toms at New Oeans
covering q communication OF william EcCreery
relative to the importation OF coolies into this
country and asking for instructions OF the depart
ment. He rephes:-
McCreery mistakes in stating that the act Of Febru
ary 1892 prohibiting American citizens from n
gaging ii the cooiie trade has been aOrogated On
the 10th OF January 1857, O resolution passed
os both houses o. Congress expressing
for the coolie tradeI and 10 conformity with this
resolution Secret airy McCulloch addressed to the
Collector OF New Orleans the letter OF the 10th OF
August, 1857, OF which q copy Is enclosed. The
additional article t1ve TO the treaty between the
at Washington the 2sth Of July last, and which now
awaits the action OF the Emperor, reprObates any
make il penal onee Is taSe Chinese aes Subjects
from China without their free and voluntary con.
s s 81 by Of n
consus OF the United States, directs that the con-
sui at every port where coolies may embark be re-
CURED to certify after full examination that such
embarkatiOn Is not forced or procured by fraud, bat
is voluntary and requires that such ministers and
c0nsuls use all the authority. power and influence
OF their command towards preventing and dscour.
aging the carrying On Of the traic referred 10 In
any way.
Such being the facts In the case the Collector is
authorized and directed to all vigilance in the
suppression OF this, as the Secretary says, "new
modification Of the slave trade.''
The Political Middle In lIississippi-Dent n
Conservative Candidate.
Governor Sharkey, Of Mississippi, who arrived
here yesterday Is very sanguine oil the success OF
the conservative ticket at the approaching
election in that State Judge Dent he says,
will undoubtedly receive the nomination for Gov
ernor from the Conservative Convention which it is
expected will meet In September 1t Is thought the
radicals will nominate James L. Alcorn, a native
Mississlppan, who formerly represented the State In
an extreme man Of the State rights school, says
the people OF Mississippi are anxious to get back
into the Union, and although under other circum-
stances they would not perhaps, take a republican
like Judge Dent, yet they are compelled to choose
between q moderate man like MIN and the extreme
radicals, and Of the two evils they think they will
take the least The Mississippi politicians, of whom
Governor Sharkey is type, have concluded that it
is wise policy for them to follow the example Of vir-
control Of their own State affairs. The Governor
thinks the Mississippi negroes will vote the conserya
tive ticket in about the same proportion they did
In Virginia. He says they are gradually dropping
Off nom the radicals, and with the assurance that
their rights will be protected, prefer, rule, to
with their old masters. He expresses some fear
that General Ames, who, ne says, Is violent radi
cal, will use his influence and power as military
commander to defeat the conservatives unless he Is
cautioned on that point BY President Grant,
Increased Pay for Army Officers.
movement is being made by the officers or the
army to secure increase in their pay the next
session Of Congress. 1t Is said that circular has
been prepared and sent to the commanding officers,
asking them to get up petitions in their various
regiments as numerousy signed as possible, to be
laid before Congress next winter. There is doubt
that strong effort Will be made by the army officers
and their friends for advance In pay. 1t Will be
remembered that the matter was before the House
Committee Military Affairs last winter, and that
General Grant, then at the head of the army, wrote
a letter to the committee recommending an advance
in the officers pay OF thirtythree per cent. AT the
request OF L. b. Washbume who was then clamor
ing for economy Grant withdrew the letter. and the
measure was defeated in committee, The army
officers, however think there will be a better show
next winter.
Resignation of McCartee.
George B. McCartee, the chief OF the Bureau of
Engraving and Printing in the Treasury Depart
ment has rendered his resignation to Secretary
Boutwell,, to take effect the 1st OF October. Mr..
McCartee, who is held In high esteem by the Secre
tary resigns because he has had better and moro re-