Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1873-10-10
ALEXANDRIA, VA

FINANCIAL AFFAIRS. The Secretary of the
Treasury and the Comptroller of the currency
returned to Washington from their visit to
New York Yesterday morning The Secretary
considers that matters wear a favorable appear
ance 10 New York. In abiding to the draw
ing upon the reserves, the Secretary is very
positive and emphatic in asserting his perfect
right to draw at his discretion upon the re-
serves, and holds that such power vested IN the
head of the Treasury Department is necessary
for the proper protection Of the commercial
and manufacturing classes of the country. lie
holds that if he has the power to contract, he
has the power to expand, though OF course not
beyond the amount of the forty four millions
The reserves have not been drawn on for the
last two days 1t is estimated at the treasury
that it may become necessary to draw upon
them during this month to the extent OF eight
or perhaps nine millions, in order to meet the
current expenses of the government The re-
cent drawing upon the reserves was rendered
absolutely necessary by the heavy purchases OF
bonds, and had it not been done the govern
ment would have been without sufficient cur
rency to meet its obligations. No permanent
imitation of the currency is contemplated.
The Washington correspondent Of the Bat-
more Sun says 1.-The President in his next
message will perforcc devote considerable space
to the consideration of the financial problem.
Statements have already been made to the eff
feet that be will urge upon Congress to author
lie free banking, and it is now further said
that he will recommend a reduction 10 the
amount of reserves required to be kept on hand
by the national banks, and also to prohibit
them from paying interest on deposits.
Since the beginning Of the recent panic the
imports of gold have been very heavy, and the
precious metal has poured into the assay office
so fast that it has become clogged with work.
There are now in the treasury thirty-6ve mil
lions in double eagles. The coinage at the
mint in San Francisco has been also exception
ally heavy for some time past. Over two nil
lions In double eagles were coined last mouth.
and the entire coinage for the quarter was
about seven and a-half millions. One hundred
and thirty -seven thousand trade dollars were
Turned out of the mint dn.;n. Ics. "'"".h
The TRANSPORTATION OF CATTLE.-Uode
the power to regulate commerce among the
several States, Congress, at its last session,
passed law looking to the more humane trans
portation of cattle. The act went into effect
on October l. The clause limiting the opera
ton of the law makes it apply to railroads
within the United States whose road forms
any part of line of road over which cattle,
sheep, swine or other animals shall be convey
cd from one State to another, or the owners or
masters of steam, sailing or other vessels carry
ing or transporting cattle, sheep, swine or other
animals from one State to another" The
regulations prescribed by the law forbid the
combining of such animals in the same cars,
boats or vessels of any description for longer
period than twenty. light consecutive hours,
without unloading for rest, water and feeding
for at least FIVE consecutive hours, unless pre-
vented by storm or accidental! causes. In esti-
mating the confinement, the time of con6ue-
meot on connecting roads from which the ami
mails are received must be included. When
uuloaded for rest the animals must be properly
fed and watered by the owner or person in
charge of them, and, if he fails to do it, then
by the railroad company or person controlling
the vessel Where the carrier feeds them he
has lien on the animals for food, care and
custody furnished, and shall not be liable for
any detention caused thereby. The penalty
for violation of the law is fine OF from one
hundred to five hundred dollars, recoverable in
the United States Circuit or District Court of
the district wherein the law was violated. But
when animals are carried in cars, boats or other
vessels 10 which they can and do have proper
food, space and opportunity for rest, the pro-
vision in regard to their being unloaded does
not apply.