The New York herald., 1872-10-28
WASHING cTON.
Do the President and the Secretary Of
State Agree on Foreign Policy?
SOME EVIDENCE PRO AND CON.
The Public Debt and Treasury
Statistics.

WASHINGTON, Oct. 81, 1872.
Tho President and Secretary Fish ON
Cuban and Mexican Matters.
The recent editorial utterances Of the HERALD on
the foreign policy Of the administration have stirred
the diplomats in Washington, especially those re-
ferring to Cuba and Mexico. The Spanish Minister,
who is not easily frightened was startled, when he
read the Presidents opinion of Spanish rule in Cuba
as expressed on his endorsement OF Mrs. Dutt0ns
appeal In behalf OF DR.. H0uard, her brother, and
printedin these dispatches This in connection with
the expected retirement 0fSecretary Fish, has made
the Minister very anxious to learn what might
possibly be the Presidents course II the present
Secretary OF state should resign.
Senator Harlan, who is named second on the
Committee on Foreign Relations claims to have
interviewed both the President and Secretary Fish,
and as the result Of the conference says that "in
relation to all the questions that are likely to arise
out OF our relations with Spain, Mexico Cuba, &c,
there Is perfect accord between the Pres
ident and Mr.. Fish, and there Is no
probability whatever, whether Mr. Fish re-
mains or retires, that General Grant will
wish to "push things'' toward protectorate in
Mexico, or the settlement OF matters in Cuba, any
faster or further than he has done during his pres
ent term. He does not recognize it to be the duty
quarrels OF its neighb0rs or assume the role Of
arbiter unasked. While he may wish that Cuba
could have peace and a republican form OF govern
ment, and might even wish that Spain could see it
TO be her interest to acknowledge the
independence OF Cuba, he does not feel
called upon to cut the Gordian knot
that has kept the Mexican government in hopeless
bondage through long and weary years Of unrest.
He Is not unmindful OF his duty protect rights
and interests on the Rio Grande, and will move as
far and as fast as just regard for weak and un-
fortunate neghb0r will permit. In all this he has
had an adviser and co-opcrator in Secretary Fish,
who has kept pace with his own wishes and policy.
Those quite as well informed as the oracle OF the
Foreign Relations Committee know that the Presi-
dent has been guided more by the policy Of Secre-
tary Fish than by his oWnasSense OF justice
md right, and the President in Yielding to the
gument OF his diplomatic adviser only carrying
out the determination made at the beginning Of
his administration never to interfere with the
business OF any of the departments. The Presi-
dent writes his own Messages and In his last in
corporated substantially the sentiment expressed
on the endorsement Of the letter OF Mrs. Dutton.
After reflection, and just before copies were made
for Congress, he concluded to strike out the
severe sentences. A few days after the as
sembling OF Congress the intelligence OF the
massacre Of the students at Havana was re-
ceved, and Secretary Robson was requested
to send monitor TO Havana Immediately. The
State Department was not consulted, and the CON-
mander OF the vessel was ordered to protect Amer-
cans at all hazard. 1t was the policy OF the ad-
mnistrati0n In the beginning to keep large naval
force in Cuban waters, but at the request OF Mr.
Fish the force was dispersed, on the plea tnat so
many war vessels in time OF peace might appear as
a menace to friendly Power.
The altering OF dates to dispatches to
disguise the tardiness with which the
State Department moved in the Houard
matter, the expressed sentiments of Secretary
Fish that Congress had better pay more attention
to legislation and less 10 the affairs OF the State
Department, are now spoken OF among the friends
OF the President In connection with the Houard
matter the best proof that the President and
the Secretary have not been OF one mind in regard
to our policy toward Cuba The only thing
Mr.. Fish sets forth triumph OF his administra-
tion OF affairs Of State the Spanish Claims Commits
sion, organized for the settlement OF claims OF
Americans despoied OF their property in Cuba. The
Commission. after an existence Of over one year,
has not acted the first case, and is as far from
decision to-day as 1t was twelve months ago.
Omcinl Hints Upon the Public Debt.
Judge Richardson Assistant Secretary of the
Treasury, will soon have ready his volume OF
practical Information Concerning the Public Debt
OF the United States, with the National Banking
Laws, for Banks, Bankers, Brokers, Bank Directors
and Investors" Among other information he
says-
Two hundred thousand dollars OF the five
per cents have already been negotiated, but
as yet none OF the four per cents and four
and q half per cents have been issued. These
are the only loans now offered for sale by
the government All others, having long since
been closed, are being reduced as rapidly as
the surplus revenues, the money obtained from the
win permit. The reduction OF the public debt for
the three years last past has been at the rate OF
sale OF the funded loan, which can be used to
redeem the fvetwenty bonds and not to increase
the public debt have still further reduced the
amount OF bonds bearing six per cent interest.
or the numerous debts matured prior to the
81 e ase s AND o All anq
heretofore matured, the amount which had not
been presented for payment September l, 1872,
was So, 170675. 1t Ia probable that some part OF
the bonds and other evidences OF these outstand-
ing balances have been destroyed by nre, ship
OF the owners or other causes. All knowledge OF
the existence OF the indebtedness has passed
away from those 70 e., who might be entitled to avail
certificates the amount that may be issued IL lin
tied only by the wants and ability OF the business
they shall not at any time, exceed twenty per
cent beyond the amount Of coin and bullion In the
Treasury.
Under the head OF Fractional Currency the
Assistant secretary says
With in the $50. 600 limited BY each OF the
Acts OF 1868 and 1894 the amount kept in circula
ton Is determined wholly by the wants and de.
mands OF the public, who, 1t appears, require
fractional currency In the proportion OF about one
dollar to each inhabitant Of the country The
amount In circulation rarely goes above that pro-
pOrtion, making proper allowance for lost and
destroyed notes. and when 1t falls much below, q
scarcity Is sensibly felt throughout the country
Under the head Of Payment In Coin," the As.
sstant Secretary says:-
of xho nnvxo
contemporaneOus with the issue OF the bonds
seems TO have been that when not otherwise ex-
pressy provided In the bonds themselves, both the
principal and interest were payable In coin, ana
this construction has been strictly followed and
maintained by the government by the prompt and
faithful payment OF every such bond In coin at ma
turifx md the aueafiQn has been furfher aettled