The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1873-04-05
OUR WASHINGTON LETTER.
WASHINGTON, D. c., March 90, 1878

WASHINGTON, D. c., March 90, 1873.
EDITOR CHIEF:
The Senate adjourned sine die Wed
nesday, after disposing of the cases OF
Caldwell, Clayton and Bogy. Both
Clayton and Bogy have reason to feel
happy-from appearances Caldwell is
not particularly unhappy. His friends
here hope to re-elect him to the Sen
ate. Ex-senator Patterson is not at
all satisfied with the disposition by the
Senate Of his statement, he hoping to
get it read in the Senate and printed
in the Congressional Record.
The new Secretary Of the Treasury,
Judge Richardson, comes into office
in spite of keen and powerful oppo-
sition, the influence Of which was felt
both by the President and by the Sen
ate. This opposition he has the pow
er, by a proper use of his opportuni-
ties, to turn to signal advantage.
1t is understood that all over-issued
greenbacks will be withdrawn and the
outstanding legal tender circulation
kept 1igidly at the figure of 566 mil
lions. Of the 400 millions authorized
by the currency acts "a millions, were
withdrawn by Secretary Mccullough
in his Quixotic effort to contract the
currency. What we need is stability
and as little tinkering as possible.
The revenue of the country will adj
just itself to any reasonable standard,
but if no standard be settled on it is
impossible to secure an adjustment.
The adverse criticism of Wall Street
organs upon the new Secretary are
but continuance of their diatribes
against Mr.. Boutwell,. They want an
unsettled finance, just as the devil
loves to fish in muddy waters. Spec
ulation delights in unsettled values,
and in chaotic business relations.
We remember the days of the old
wild cat currency, when bill brokers
and note shavers did a thriving bus
mess in exchanging bank notes of
different parts of the country. Such
a cormorant tribe finds no carbon
under the present settlement of our
finances.
The Comptroller of the Currency
is "going for" all parties, who with
out proper authority assume to do
business under the National barking
law. 1t is this class of swindlers who
operate so greatly to the injury of an
excellent banking system. The pen
atty is $50 for every days unauthor-
lied use of the term National. It is
even commended here that such insti-
buttons as the National Trust Compa-
ny, an old and reliable institution of
excellent credit, falls technically
;"ithin the statute, but the Comptrol-
Ter declines to act under this extreme
Interpretation.
The Commissioner of Internal Rev
enue, under late decision of the U.
S. Supreme Court, has rejected sever
al claims of railroads for the refund
ing ofstaxes amounting to 1868, 600.
This ruling applies to all corporations
declaring regular dividends as we'll
as railroads. This decision will prob
ably save to the government not less
than S5,O0O,0OO.
The State Department is laborious-
~ working up the problem of Spanish
extortiens upon American commerce
in Cuba and Porto Rico. The House
OF Representatives took strong action
lately upon this subject, and the Sen
ate forbore to pass the resolution in.
delicacy in regard to efforts
ofISpain to establish her Republican
government upon firm basis. In the
mercantine our shipmen are compelled
to suffer from the incorrigible DELAYS
of Spanish diplomacy. The career of
the Spanish race in America is an
preaching it's close.
There is much credit due both the
Postmaster General and Mr.. Bangs.
superintendent of the railway postal
service, for the Interpretation of the
law governing the postal car system,
In their prompt effort in settling the
dispute between the department and
The railroad companies. The discon-
tinuance of the postal car service