The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1870-01-18
From Washington
WASHINGTON, d. C. jan 4tll. 1870.


General Mcclellan, for the first time in
six years has visited the National Capt.
tai He spent New Years Day very
pleasantly, receiving only a few of his
old friends Only seven years ago he
was the idol Of the army, and admired
by the whole country irrespective of
party. But now few of those who used
10 be his strongest political friends have
further use for him, and he passes in his
quiet way almost unnoticcd. He left
Yesterday for Philadelphia
Secretary BoutwelPs plan for funding
the public debt and relieving us of our
present financial difficulties, is receiving
much favor here. The Secrctarys re-
port shows that he appreciates the ne
cessity of providing the people with a
greater volume of currency, and less
taxation. 1t is expected that Bankers
will oppose any measure that reduces
the privileges Of the National Banks
But with all the money and influence of
these banks and bondholders generally,
there is not question now but that Con
press will consider favorably plan for
funding our National debt at the lowest
rate Of interest on long time, thus re-
ducinc the interest on our public debt
from its present amount, one hundred
and fifty millions, to perhaps fifty mil
lions dollars.
Members of Congress pretty general
Iy understand that the necessities for
National Banks have passed, aud the in
creasing of their numbers at this time
would not to any extent, relieve the PEG
pie Of their present financial embarras-
ment, but would in the end compiicate
our business interests. With our pres
ent number OF these banks, inearly sew
cnteen hundred) it is shown instead OF
their being convenience to the COM
rnunity in which they are located as was
first intended, the most of them are car
lied on in the especial interest of the
gold gamblers, stock jobbers, and usur-
ers. and by whom many Of the banks
are now owned. In Washington we have
the Banker, IL. y. Cooke, brother Of
.Jay,' the Napoleon of this National
Ranking System, and we know how much
he does, or rather should say what be
docs in the way Of accommodating the
ueople with the money he virtually has
in trust for the peoples good. The usu-
rer has money, and about the only way
Of getting loan is by going to him and
having at the rate Of from % to 100 per
cent. per year for it. The National
Ranks. % far as we know anything
about them, are not satisfied with the in
crest received semi annually on Their
bonds deposited in the u S. Treasury
freq from taxation. in addition to the le
oal rate Of interest on their Nationa
hank notes they are authorized to issu
which would insure to them about i
ner cent but they want more, and TIL
insurer Of course can afford to give then
more.
There is a bill referred to the India
committee, which will be favorably re-
uorted on soon after the converting Q
CONGRESS which declares the Indians IN
capable of making treaties, and for tina
reason the bill proposes taking fror
them the lands reserved for them In GU
nublic domain-Withont doubt the WH
penn spirit will be on hand here to op
pose II.
The bill Of Mr.. Getz of Pennsyly:
MIA. for allowing the transmission {
newspapers free Of postage through til
IT. S. Mail, will be vigorously sustaine
by him upon the plea that newspaper
are public instructors, and like the Fro
School System, they benefit the massc
and their free transmission would cans
them to be more generally circulate
and thereby be a National blessing.
the bill now stands, there is no exec
lions made to any class of papers, whit
will. without doubt, be objectionab
and cause amendments to be offered, e.
cepting papers like the Police Gazette
The Post Office Department has d.
cided that where circulars inclosed
newspapers are sent through the ma
both the paper and the circular n
chargab:e under the law vita letter pc
tage. A gnery:-What would be the d
cision OF the Post Office DEPARTING
relative to postage if a circular be MAJ
a supplement Of the paper?
Secretary Boutwell, has directed til
the new legal tender Notes be print
in the Printing Bureau, and thereby sa
the Government 100000 annually.
is thought that before long the Seer
tary will find it advisable to transfer
Wsahinpton all the printing. ~