Vermont daily transcript. [volume] (St. Albans, Vt.) 1868-1870, 1869-03-02
Lette from NeW 10 l.
NE YORK, Feb. %.

the future Cabinet ] need not state
that speculation is rife among us rs 80
who vii be called upon by our future
| Pres dent to the heads of the different
Departments, for tie same excitement
prevails, no doubt, all over the country
aud but few days more will clapsc be
fore the curiosity of the IN; Sc in that
respect will be satisfied.
A. for the So til, its population, or at
least the most sensible portion of it, has,
no doubt, reason TO congratulate Itself
upon the accession TO power, for he evil
IDENTIFY favJrs substantial reconstruction,
and in n late conversation with Scna or
! Pool, of North Carolina, has pointcd To
that state and Alabama ~ the best re-
constructed of all, and has EXPIRE scd
hope that the other states would soon
be in like favorable position. There
is no reason t , doubt that Grant will do
his best to bring about that desirable
state OF affairs at an early day, AMI tie
friends of the South in this city prophe-
cy bright future to that part of the
/ Union.
1t is an acknowledged fac: thus it is
hard to please everybody, aud that say
| ing applies to individuals as wei ~ 10
political bodies. still ii would seem
that the Senate has agreed TO the amend
ment proposed by NJ. Wilson, of Mas
sachusetts, to the army appropriation
! III for the reduction of the number of
infantry regiments to 50, which will
certainly not meet with the support of
those who happen to be acquainted With
the details of army matters since the
close of the war, rs, for instance, your
correspondent is.
1t is argued that our army is too large,
but it is so only on p;pcr for the ma
jority of regiments, instead of being too
strong, do not muster more than SOD or
600 men, and the aggregate of the ctlec-
tive army does not, prol ably exec d
$1,000 men. That number is sorcly
nee led in the plains, where the pionee
settlers are unprotected against the dep
relations of the Indians, and will be in
a worse condition. than ever if a propo.-
tloll vi tlC tItC SttllbilC il anu III Ill
the frontier fo"ts should be Withdrawn,
without the regiments remaining in the
service being Immediately recruited up
to the legal standard.
The suggestion has been made by some
to withdraw the troops from the South,
from States whe:e they are no longer
wantcd-and ID them West, but it
appears that Grant is unwilling for the
present to leave the South without an
armed force, probably for the sake Of
the Union men in those regions, WHO
might otherwise he too much abandon
cd to the tender merci : o. cX-rcbels.
The mus cr OF any part of ~ur troops,
scantily scattered all over our immense
territory. and at this very honr not suf
ticiently numerous to offer effective pro.
lection to citizens in the FarWcst prom
Uses, therefore, fruitful consequences
without an equivalent in the way Of con-
siderable reduction of public cxpendi-
turc.
In spite OF the high figure of emgra-
ton into this port from Europe, ofwh ch
| have had occasion to speak in n previ'
Ols letter, the dem aud for labor during
r the past year has been far greater than
| the supply, according to the report of
the Labor Exchange. That institution,
so exceedingly useful as Il guide and as
sistant for the inexperienced foreign rs
> who come t. our shores, could, at the
, pre- .cnt time readily dispose of two ship
: load, of German girls, if they were to be
had at from twelve to fourteen dollars a
/ month.
In commercial circles, great intcre It l.
: manifested in the movements of the
| Stock EXcha 1ge and much satisfaction
prevails since YESTERDAY in con sequenc
/ of the tole graphic reports from London
: according TO which our bonds went NJ
, to 81 the highest figure they have ever
+ attained
: The New York Hrd,d, discussing
' that occurrence in Yesterdays number
says "rhis is the result of growing
confidence in our securities, and hope
jul feeling a to the wisdom of Genera
o Grants ad ninistration, stimulated more
n imme liately by the passag OF the bill
I declaring our bills payable in gold. 80
f are thus at discount of about Is pc
, cent; if the lite II of the exchange b.
! taken into consideration, they are only
l. o. 13 per cent. below pa"
The majority of your readers wh'
take an intere. in the financial affairs o
this m ,tropolis, may be already awar
y of the fact that Mr.. Fisk, the Erie II. r.
:. director, has ormed Il new eXehlnge
q under the namo of tn "National StOc,
% EXchnnrpV still l state this tact her