The States and Union. [volume] (Ashland, Ohio) 1868-1872, 1870-01-19

character, until they have been duly
relieved by the two Houses of Con.
gress,
1t is maintained hat they would
efectually nullify the acts of the Leg.
islature elected with Senter, and ar
rest the work of the State Convention
which met at Nashville to-day.
NEW FINANCIAL BILL.
The bill to amerd the National
banking law authorizes the establish
ment of free banks Parties making
applicat on for charters must present
to the Secretary OF the Treasury. as 6
basis Of security, $40 six per cent
bonds, which must be Cancelled by the
~ecretary, and in lieu oil them he i.
directed To issue for deposit by pro
posed bonding associations, four pei
cent. bends running forty years, prin
cipal and interest payable in coin, nor
taxable by Federal, State or munich
pal authorities, and the interest OF
bond, W. ich may be held in Europe,
payable in the money of European
countries. These bonds are to bt
convertible at the option of the own
ers from coupon into registered, OF
from registered into coupon. 1t com
pels the Secretary Of the Treasury I,
redeem and cancel an amount of green
backs, or three per cent. certificates,
equal 10 seven per cen of the cir
culating notes issued under the free
franking system. 1t provides for The
redemption of notes in New York a:
well as in the counties of The bank,
issuing them /; prohibits banks from
paying interest OH current deposits
provides that the engraving and print
ing of the new circulating sstes sinai
be executed in the Bureau of Engrav
ing and Printing Of the Treasury De
partment; that each denomination o
notes shall be on distinct paper, anc
from lathe work, dies, bed pieces ano
rolls, never before issued in part, o.
in whole, for o her notes.
WHY HoAR WAS REJECTED.
"The true reason of his rejection
will not be sent over the country by
telegraphic dispatches. 1t will III
claimed that he vas rejected for thu
reason that he belonged at the North
and in Ma ssachlsett'. But that State
has no Justice upon the bench, anG
the Senate cares nothing for thi:
reason. With the South full of North
ern men in every eXecutiv.. Office, and
sustained there by the Senate, very
few people can be made to believe
that Mr.. Hoar was rejected on account
of his locality. The true reason is
this: he has expressed opinions of the
uDconstitutienality of some of The acts
of Congress, and he does not like the
Radical plan of snljugating the Judici.
airy. This killed him off. The Gov
eminent is, to a considerable extent.
already revoluiionized. A few steps
more and the lik, ness to the old Re
public will not be recognized. The
States and the people Fave little pow
e., and Capitalization will be supreme.
Already you will no'ice that Farms
wo II. Dawes and Ri CHAM are alarm-
ed, and have entered protests as boiI-
y as they dare. But they dare mol
say much, for tyranny is so great here
that Republic ms who are really a arm
ed dlr' not speak boldly and freely
But Il cool many are shaking with
fear. There has not been Il good
feeling between the Pre- ilent and
Congress for some time, and Grant is
now very much incchsed.'
POSTAL AFFAIRS.
The conference of the Postmasters
was continued to day. The matters
under discussion were the money-ord-
system, the registered-letter ques
ton. the cole ton of newspaper post
age, and the misuse of the Post-ofice
by the transmission of so called news
papers which are meie advertising
mediums In regard to registered let
tiers it was proposed to reduce The
postage upon them, and name IF the
sender being upon the outside, to an
the Postmaster, when a regis
tered letter can not be delivered, to
it directly to the mailing of
flee, without the delay incident to its
through the Dead Letter Of
fee.
Other methods were suggested to
popula:ize the system; the establish
ment of IL new rate for the money Or
der Office, Ivy which sums of ten dol
lars and less can be sent for five cents.
was warmly urged The views of the
conference are to be embodied in n
to the Postmaster General ut
the close of is lab ,rs. The manner
the mails are used to swim lie
the public through the lottery gift en-
terprise and other schemes was allud
ed 10, but as a bill had already been
drafted and presented in the House
to-day, the subject was only generally