New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-03-07

On HE st Dbl ti'
IBY TELEGRAPH TO THE TRiBUNRl
WASHINGTON, March, G. 1870.
Leading financial from New York ana other sections
are writing here, suggesting that 1t would be better Tor
the Of the country owing TO the RAPID
decline OF gold. for the Government to withhold LOT
the present any further OF gold Although Secretary
boutwell, would prefer receiving high price for his god
no saws he will not interfere in any with the gold
market but pursue the line OF policy marked out from
| the beginning.
Several Senators and members were in conference with
Secretary Boutwell, Saturday, concerning financial
matters 1t suggested to the secretary whether ne
had any particular objection to changing the series OF
loans provided the Funding bill now pending In the
Senate to s5OOOOOOOO each instead of siOO00OoOO He
Informed them that he thought SOOOOOO0O preferable,
and explained why he thought He also stated that
lie would rather Congress would fix the rate OF interest
in each series leave it discretionary with him, as
Senator wilson's amendment to the Funding bill pro-
posed. II the bill provided the rate OF interest not ex
ceedng per cent, the people who had bonds to
exchange both at home and abroad would insist that
rate of interest IL the passed fixing the first
at per cent then A. and g. they would have no aterna
tive, and would be compelled to take them He thought
II would he better as little discretionary authority
| with the Secretary as possible.
special meeting of the Banking and Currency Com
mittee called Saturday to determine on the sew
era financial measures before them but definite con
cuson reached. It is considered certain that the
Committee will not give its assent to the proposition LOOK
| ing to the issue OF SjOOOO,OO0 of greenbacks.
The case of J. s. Golladay, until last week repre-
sentative in the present Congress from the Hid DIS
OF Kentucky, has assumed very curious phase IL
will be remembered that Mr. GOladay was charged WITH
having received the sum OF 5000 having appointed
boy, resident of New-YOrk, cadet TO the MILITARY
Academy at West Point The investigation was con-
timed by the Military Committee for about two weeks
when without waiting the result OF the Investigations
Mr. Goaday the Speaker OF the House letter OF
resignation, and at the same time communicated MS
resignation to the Governor OF Kentucky The Speaker
presented Mr. GOladay's resignation to tho House. ana
Mr. GOaday according all precedent, ceased 10 be
Member OF Congress. Yesterday, however MI Cola
day, through attorney, called Speaker Elaine
and asked permission to withdraw his reslg
nation saying that he had changed bis
mind in regard to his guilt on the
charge made against him in the Military Cadetshp
business; he wanted to have report from the Mill
tary Committee, that he might defend himself in the
House. and that the Governor OF Kentucky had refused
accept his resignation until hearing OF his case had
been had open House. Speaker Blaine informed MI
Goaday and his Attorney that he had no authority to
return Goladay his letter Of resignation, and accord
ing TO all precedents his opinion neither the House or
any power the face of the EARTH excepting the cit
zens Of the lid District Of Kentucky could again make
him member the present Congress from that district
To-day Mr.. Golladay received dispatch from Gov
| Stevenson
resignation demanding in the name OF the State Of Ken
tucky "A further examination OF the case Mr. Col
| aday has written letter to the House OF Repre-
sentatiyes ncOsing Gov. SeyensOns dispatches asking
leave to withdraw his resignation These papers VIII be
presented the House tomorrow, and they promise TO
give rise a very interesting and very difficult question
The matter will be sent to the Judiciary Committee for a
report. Mr. Goaday's before the Military Commit
tee was very peculiar The fact that he violated
the law appointing boy a cadet, who was not resi-.
dent OF his district, established so, also, was the
fact that the father Of the boy paid $1,000 for the
| appointment but it not legally proven that the
money was paid Mr.. Goaday, although the inference
| from the testimony strong that Mr.. Goaday's
resignation was taken acknowledgment OF his guilt
Although Mr. GOladay voted in favor OF the abolition OF
the Franking Privilege, he is unwilling TO forego its
use IN private life. He has therefore, addressed Mr..
Creswe and asked If he cannot be allowed the benefits
OF the Frankng Privilege until the st Of December next
The General decides IN effect that persons IN
private life not allowed the free use Of the mails.
In conversation yesterday, with "A member Of the
House, the President expressed himself greatly inter
ested the questions affecting navigation interests,
and propositions made looking toward restoration
Of our commerce. Referring the recent report of the
Special Committee, the President said he had read it
with great care and concurred generally in their argu-
ments and recommendations. He minated that In
cordance with promise made iii his Annual Message he
would probably send in Special Message this sub
ject. The President declared that, il his judgment,
| 1t was suicidal for nation like ours, with
exposed and double coast line, to be dependent on
a foreign nation, and that the one whose unfriendly
policy had SO materially aided in the ruin Of ship
ping for the major portion OF our ocean transportation
The President has several times before conversed with
members interested in shipping and commercial affairs,
and has surprised and delighted them by his knowledge
Of the interest he has manifested on, the subject
While expressing opinion relating to the special
schemes for mail steam service, he shows strong
desire to see some reasonable legislation adopted by
which this important interest may be put the,way
OF restoration. Mr.. Lynch, Chairman OF the SPECIAL
Committee Oh Navigation interests returned to-day from
Portland. The bills reported from the Committee are
made the special order for the third Thursday in March
but will probably not be reached until some time III
April as the Revised Tariff bill has precedence, and will
hardly be disposed Of by the time named IL Is under
stood that the Committee Will hear parties representing
the pilots, coastng trade. and other interests Parties
| who recently appeared before the Commit
| tee and presented an argument for subsdiz
| ing a trans Atlantic line, Binding that the
extravagant proposition preached not likely to be
listened to- prepared their bl and had referred IN the
House to another committee. Other speculative steam
ship projects being presented TO the Senate The
probability that most OF them will not be heard OF
again The subsidies already asked for would amount 10
about $12OOOOO0 per annum There are only two bills
which limit themselves to a guarantee Of interest or
| land grant
The Senate was not in session yesterday, and the
House did nothing but talk on the Georgia bill. Mr.
Farnsworth finished his speech in opposition TO the
Funding bill and Mr. Lawrence OF OHIO spoke III its
favor He introduced some remarks on National
finances IN referring the Democrats and he said they
were especially exercised because they had 10 bear the
burden of taxation owing the fact that this Admins
taton collected the whisky tax Messrs Beck and Paine
also spoke the against and the latter in favor Of
the bill.
During the discussion Feb IS the appropriation
ala, Arly.