Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-05
WASHING TON
straIning al Gnats, etc.

ing the military IN Gfant parish, AIDING the |
civil authorities to arrest the perpetrators |
of the Colfax massacre, did not arrive I'M |
til after the Grant parish outrage is alleged |
to have taken place. The telegram also |
SAYS, the latest adyices indicate that the |
outrage is fabrication.
New ORLEANS, Nov. 4.-The account |
of the Grant parish outrage telegraphed |
hence Nov. /, as shown by all accounts, |
was perpetrated after the arrival there of
the metropolitans and had been fully con-
firmed by publication in Sundays papers of
the proceedings of public meeting held in
Alexandria to consider the subject.
IThe above facts must have beenk nOwnto
Kellogg when he sent the dispatch of the
4th to Attorney General Williams.-EDl.
Bank Statements Wanted.
WASHINGTON, Nov. 4.-The co..nptroller
of currency to-day issued a circular to all
national banks, requeSs,,inc them to forward
special reports Of cheir business condition
at the close Of business on Monday, Oct.
10, ahG saturday, Nov. /, 1873. These re-
po~- IS will be especially useful in ascertain
ing how much currency the national banks
in different States had on hand during the
height of the panic, and subsequently at
the close of business, on the first OF NO
vember, after the pooling Of greenbacks had
ceased in New York city. The circular
saws the publication of these reports in the
newspapers will not be required, and the
statistics will be used only for the purpose
of preparing tables of the aggregate condi-
ton of the banks iii the several cities and
States, or a table of the aggregate condition
of all the banks of the Union, as may be
thought most advisable.
Southern Claims.
The Southern claims commission will,
| about the middle of December, report to
| Congress on $500 claims, being three or
| four hundred more than last year. The
amount involved is upward of million
| dollars, the former award being about
| 100000 AT least One-third of the claims
have been diSallowed.
views of Treasurer Spinner.
| Treasurer Spinner, in his Thirteenth
Annual Report, says the falling off in re
| CENTS for the past year from customs,
amounts to S2S,2S0, 764, and from internal
revenue S1G,912, SOB, while the expenditures
are largely in excess of those Of the previous
year. The falling off of receipts and the in
| crease of expenditures have put a check
| upOn the rate per annum at which the pub
| lie debt was paid of in preceding years.
| These facts combine to make an interesting
| subject for reflection. the study of which
will make good guide, if not warning to
| Congress and the administration OIL
GERS rs well. of the course that
| should be pursued in the
future. Either taxation must be increased,
an expedient that can hardly be thought OF,
or appropriations must be kept largely be-
low the receipts: otherwise a rapid reduc-
ton of the public debt will he arrested, II
not abandoned. Treasurer Spinner says,
few if any. believe the volume Of circuiat-
inc medium as fixed by law, stands at an
amount that is exactly right. 1t must be
obvious to all who have an interest in and
who have watched the course OF business
and the financial returns of the country
that there are times when the real wants o.
the country demand and there should be
| an increase of currency, and that there are
| other times when the safety of all leglU-
mate business requires that it shall be
largely decreased. What is really needed
is currency so flexible rs to at all times ac.
| comTnodate itself to the business wants o
tie whole country. After arguing the
question. the Treasurer says that for exist
inc notorious evils a remedy should
be found and iutcIposed, which
remedy. he thinks, is 10 issue legal tender
convertible into bonds at a low rate Of in
terest. 3.G5-1O0 being the rate most hkel,
| TO satisfy all conditions to be met. III
thinks it more than probable that tin
scheme viii not require an increase IN III
bulk of legal tenders above the present le
UaIlv authorized 500. 100000. and that tn
minimum amount of S}J6,0OOOOO Will OF
dinarilv be sufficient for the easy transaC
ton of the legitimate business OF tn
country The project Of Postotiice Saving
Banks, about which the Treasurer says h
has been consulted by the Postmaster Ger
eTal is HIGHLY commended by the former q
. | one that would not only be OF great benei
to individual depositors but to the Who'll
country.
Free Banking System.
SppciaI to the Cincinnati Commercial.
= WAsuTvGTON. Nov. 2-ThC opinion oil
, | tainS here that the National banking Sy
TEN is daily growing in distavorthroughoI
tbe country. that the banking association
will not be able to resume payment, tn
the whole system is BADLY shattered, an
2 that the shrinllage III value of the secur
, ties held by these banks can never be rem
: edied bv initiation. Experts in finance So
! that every hour of suspension makes II
r. sumption more difficult, since new cha
/ mel of trade is in the meantime being e
O established by a class OF men whose int
Z ests will be hostile to the suspend;
y hanks. and will shortly central the bu:
ness of the country. 1t is believed that Il
t banking associations intend to pOStone J
d sumpti0n until the first Of ia
a uarv. in the hope that they W
T he relieved by Congressional leg
|, IatiOn. Nevertheless the opinion gal
p strength here that a free banking SyStJ
: will be popular, aud with the recommend
, tion of plan Of that sort in the anm
- message of the President this scheme W
. assume a formidable shape.
The Emma Mine S8indie.
Senator Stewart, of Nevada, went
Europe a wear or 50 ago, and, 1t IS sal
dipped into Emma Mine stock, aided
bulling it on the English market, sold
a shares whilst the thing was inflated, poo
eted his million of dollars, and came
Washington with his ill-gotten gains.
this city. as has been before stated, he sta
ed up a so-called palatial mansion. L
e pile is a huge one and has the propoltlo
n of a palace, and would probably vie WI
Or ANYTHING of that class, if finished and II
Or nished as projected; but the work halts,a
n the carpenters and plastererS stand lC
2 looking on, because, as rumor has IL, !
weekly payments for labor are not mat
IS and now the query is: What has becol
4, of the balance of that million dollars t
Senator brought from England?'
"a A gentleman recently returned t1'
er Europe. and who is intimately acquant
k; with our Minister to England, Gene
e. Schenck. says the latter gave him an
count of the Emma Mine affair, from VIII
it would appear that Schenck was large !.
loser i'm that swindle, and was the victim
the sharpers who got up the scheme. I
informant states that the same docum'
y shows that Senator Stewart pocketeu
he aforementioned million.
st Senator Sprague.
adj Referring to the financial depression q
ar. the involvement Of the Spra@ue Bros,
a oassaaf. it is stated that Senator Sprag
he OF that firm. has made good provision
int his offspring and family, irrespective OF
X- marriage portion settled on Mis-. Sprag
ID The advent of each child born TO the )
IN ator has been the occasion for a gift OF !
-es a million of dollars. As two of his proSi
he exist. this provision has secured to the Ii