The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-01-09
WASHINGTON.

WASHINGTON, January s.-Wm. B
Duncan, of the banking firm OF Duncan
Sherman & Co, New York, and Mr. Jo'
seph Patterson, senior member OF the
banking tlrm Of Patterson & Co., Phila-
delphis, appeared before the Committee
of Ways and Means, this morning, In re-
Spouse to an invitation by the committee
and expressed their views on the subject
ofreIunding the @ per cent into 3 per CEN
bonds, Chairman Dawes, intimated thai
the committee desired to have the ViewI
ot gentlemen eminent in financial matters
in great cities, who were not at all identi
fed with the operations Of the so.called
Syndicate. The whole subject was gone
into at considerable length. The sub
stance Of the opinions given, being that
the effect OF tho operation through the
Syndicate, was to take the United States
bonds out of tue hands Of small investors
where they had the greatest permsnency
and put them in the hands Of bankers
and brokers, and largo investors, and In
great financial centers, where they were
liable TO be effected by frequent tluctua-
tionS In the money market. This Mr
Duncan regarded it as an evil which
should be avoided, tending as II
did to lessen the popularity OF tho bonds
and 10 that extent depreclate the credit oI
the Government In the markets OF the
world. Both gentlemen coIncidcd In this
view and also 10 the opinion that the bet.
ter policy would be, not 10 cndeavor to
force the market at the present time but
wait untilthe money market Is IN more
favorable condition for refunding the debt
ut lower rates OF interest, to let the mat.
ter be done under the immediate control Of
tho Treasury Department without the aid
Of intermediate parties. and that the
bonds should be Of uniform character as
TO tho rate Of interest and as to the period
for which they are to run, which should
be a long period, and as 70 the place
where they are 10 be madc payable,
which should be at the Treasury OF the
United States. Boutwell, was present at
the interview. -
Mr.. Amcs yesterday corrected that por.
ton ol his testimony relating to Mr.. SEQ
field, OF Pennsylvania. 1t seems that
Sco6eld gave Ames $40 900 to buy Credit
MobilIer stock and a receipt therefor,
but upon examination he declined to take
the risks, and not having received the
stocks or any dividends, the money was
returned to him by Mir. Ames and he
gave up the receipt.
The President sent the following nom
nations to the Senate: Postmasters-B.
Dodd, Rockville, Ill; N. o. Frost, Mar
shall, III.
The estimate OF the Commissioner Of
Internal Revenue, for the expenses Of
that Office for the next fiscal year, has
been sent TO the Committee on Appro:
prialions. The entire estimated amount
Is 81 100000, but Of that amount nearly
$2,5U0. 900 is to pay the gaugers and store
keepers under the act Of June 9, 1860.
The Senate In executive session to-day
confirmed the following nominations:
Irwin Mcdowell, Major General in the
army, viss Meade, deceased; A. W. HGw.
kins, Collector Of internal revenue for the
7lh Dlstric! Of Tennessee; William Garry,
United States Attorney for Utah. Post.
masters-Mrs. Eliza Sellers, Pekin, Ills /;
s, Z. Chever, Delavin, Ills; NJ. Tritt,
Farmers City, Illsi Berry Neal, Eaton,
Ohio; Wm Forcsman, CircleVille, Ohio;
J.F. WhiE5, New Lexington, Ohio; s.
Matthias, Sidney. Ohloi Alexander Cree,
Georgetown, Col; Rebecca Fraily, Fort
Madison, To-; Hugh Compton, Columbus,
Neb,; L. L. Ellis, Manlstee, Michigan.