The New York herald., 1870-05-13
Funding the National Debt---Fou Per
Cent Bonds to be Issued.
Bill for Redistributing che Ma
ti0nal Currency.
Another Fight in Prospect Over tho Northern
Pacific Railroad Bill.
WASHINGTON, May u, 1870.

receiving very radical modification The standard
or the army has been raised to 80 200 men, and the
pay cheduIe mas been enirey stricken out. The
former viii obyiate the necessity OF so great re-
ductiOn In the personnel Of the ned, rank and line;
the latter viii keep the pay at its present rate.
When The III gets back to the Ho 1t will be vigor-
ously assai ed by Logan and his supporters, who
will attempt restore the pay table and insist upon
their views throughout.
Another Fight in Prospect Over the Northern
PaciRr Railroad Bill.
The House Committee the Pacific Railroad WIN
again take up the Nor hcrn Pacific Rail road b over
which thee was so much fuss last Tue 3day, with the
amendments offered Ia the House. The majority of
the committee, 1t Is understood viii report the bill
back without amendment 1t is probable there win
be minority report, or If not an attempt VIII be
made to offer amendments when the bill is reported
to the House. 1t is believed that the minority who
oppose the bill in It's present shape will insist upon
the adoption of the amendment proposed by Sidney
Clarke Of Kansas. 1t is held tnat This viii al once
protect the government and the rights OF settlers,
aud at the same time give the company all that they
can reasonably ask. Tie friends OF the bill VIII
night this to the ast and lively time is expected.
American bankers in Paris Propose 70 Fund
the National Debt at Four Per Cent.
Mr.. Bowles, OF the firm Of Bowles Brothers, Ame-
rcan bankers in Paris was before the Committee OF
Ways and Means to-day relative to the Funding bill.
Mr.. Bowes made statement showing that the
ent1re 81, 900 OF the public debt could be
funded in Europe at four per cent. He argued that
there shOlld be long bond say not less than forty
years, and that such security would be eagerly
sought alter by European capitalists. Mr. Bowles
intlmaled that the house OF which he is a member
would undertake to fund the debt at the rate of
interest mentioned. The main objection to this IN
Congress would he the long bond. 1t Is believed
that q majo ity Of both the Ways and Means
and the Senate Finance Committees are opposed
to binding the govelnm Mt TO long bond. Mr..
Bowes' statement, however, had the enect of
strengthening the committee In determination, al-
ready partia y fixed, to report In favor OF four per
cent as the uniform rate OF interest for the entire
amount to be funded.
kedis ributiOn of National Currency.
The Banking and Currency Committee at their
meeting to-day considered several amendments
which hah been proposed to the bill reported by
then lew days ago to secure ad dltional banking
facilities and to provide for redist ibution Of the
currency among tle seve al States and Territories.
Alter careful delberatlon the committee decided to
stand By the bill as already reporter AMI TO oppose
all amendments. 1t will be rememba red that among
other provisions OF this bill Is one retiring
large amount of greenbacks or United
States notes and substituting therefor national
u
terest OF The national banks and In favor of contrac-
tion On the latter account it Will meet with opposl-
tion from the western and Southern members. 1t is
not thought that the measure will pass the House,
though 1t will be srenuousy defended by the friends
Of the national banks and the Eastern capitalists
General HOward's ManipulatiOns of the
Freedmen's Bureau Funds-Endoying Col
0red Colleges.
The following are among the Official documents
ana facts submitted to day by the prosecution in the
Wo ,d.Howasd Freedmen's Bureau investigation.
The first Is the order under which the Barry enter
Prise was started:-
WAR DEPARTMENT,
BUREAU REFUGEEs, FREEDMEN AND ABAN-(
DoNED LANDS, WASHINGTON, Aplil %. 1857.
SPECIAL ORDERs-NO. 81.
Brevet Brigadier General George W. Ba'loch, chief
disbur ing officer Of The bureau, will transfer the
SUN Of sS2ooo r, 70 thn Ro1rn E OF consisting
this amount 10 he held in trust by them for The
b nent OF thr @ normal collegiate institutions uni
yersltles embracing The educa lon OF refugees and
free nien said ms tutions being porated or as
soon as they snail be regularly Incorporated, are
ted one in District of Columbia one IN the State OF
Virginia ana one in the State or North Caronlia
The said trustees may invest the said $52 900 In land,
with u view to relieving the immediate necessities
of class OF poor cOlored people in the District of
Columbia, by rental by sale with deferred payments
or in suci her way as their judgments may direct,
terests r moneys received for rental or sale over
and above necessary expenses, shall be annually
divided equally among them. BY order.
Major General o. o. HOWARD, Commissioner.
A. KETCHUM, Assistant Adjutant General.
Aspecia order, dated February 90 1885, transferred
additional sum to these trustees Of $25 900. farm
OF 34 acres was purchased and divided into acre lots
300 Of which were sold in part to freedmen. Over
six thousand dollars was expended in grading roads
80 that lumber could be hauled over the premises.
Charles Howard was appointed the agent for this
business Several hundred tenements were erected
on the lots, Of lumber Howard purchased In Maine.
Besides this, from the same lumber eghty-sx frame
houses were built In this city land purchased by
the Bureau for the purpose. Seventy-six OF these,
with two entire city squares, have been since
turned over to these same trustees and the other
ten, with four lots on which they stand, to the
Howard University.
South America and Mexico Steamship Lines.
The Committee on Post Oflices and Post Roads of
the Senate had under consideration to-day bill in
troduced by Mr.. Conkllng, providing for the estab
lishment ana subsidizing OF a line OF steamers from
Panama to various ports on the western South Arne
rican coast connecting with line from Panama to
New York. William II. Webb Of New York, pre-
sented some interesting statistics relative to the
present amount OF the commerce betw ween the coun-
tries of that coast and own, and argued that It
might be largely increased by the establishment of q
line OF first class steamers running regularly between
Va paraiso and New York, with the Panama Railroad
as an accessory means Of transit. Mr.. Webb re.
quesed to put his statements in printed form for
the benefit OF the Senate. The bill providing sub
sidy to the New York aud Mexican Mail Steamship
Company was also under discussion, but no action
was taken. Other business OF postal character was
transacted.
Singular Subject for Congressional Legisla.
tiOn.
delegation Of brewers from Pittsburg, Pa
called on the Commissioner OF Internal Revenue to-
day in regard TO the proposed enforcement OF the
law of Congress allowing only one bunghole to o
lager balel. The custom prevalent OF late OF draw
ing ale or beer from casks by means OF ale pumps
has necesstated the opening OF an additional bung-
hole, with which, as yet, there has been
no official interference. But the Pittsburg
brewers, having been notified by the Collector
OF Internal Revenue there that the law would be
strictly enforced alter July next, and having q