Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-10-17
ESTABLISHED MARCH 80. 1885.
WASHINGTON.

WASHINGTON, d. q. Oct. l6-The
American and Mexican claims commission
ers having named Sin, Edward Thronton to
act as umpire, be has accepted the nomina-
ton, provided bis government VIII consent
to hts acting in that capacity, which consent
be has asked.
Internal Revenue Department.
The internal Revenue offics is now con.
Quoted at an expense Of two million dollars
per year less than undsr former laws. The
Commissioner is satisfied with the law as it
is and therefore viii make no important
recommend ation to Congress concerning
it.
The Polartles.
The examination of DR.. Emil Bessel took
place to-day on board the Tallopoosa. He
gave an interesting account of his scientific
researches and detailed the symptoms Of
Capt. HALLS illness. He explained his med
had no doubt whatever thAt he died nat
ural death.
Masonic Contribution.
The Masonic fraternity of this city viii
forward $400 for the reliefof Memphis and
Shreveport sufferers to morrow, the amount
subscribed by two lodges tonight. the
entire contribution By al lodges here win
amount 10 50, 500. a AW E
Proposed Changes i'm the Banking
Special TO the New York Times.
WASHINGTON. Oct.T12.--lp discussions
of the bahkfng law BY some Of those en-
gagged in the banking business here, the pro-
posi- is broadly made that the stock
holders aud officers Of banks should be only
men Of wealth, who should not themselves
borrow from the institution they control
L. is of course well known to the public
that banks are often organized by men who
furnish, or obtain, the capital, In order that
they may themselves borrow largely from
the deposits. They put 100000 or $780,
600 into bank, and obtain several times
that amount Of deposits, with which they
carry on private business enterprises, on as
much larger scale as the deposits exceed
the capital which has been invested to secure
them. In short, very often bank Is an in
stitution founded to borrow mouey from
people without their knowledge. Men who
are doing regular banking business, hsv
ing capital invested for the purpose of seek
ing direct returns from it through banking
operations, object to the kind of banking
oHOfC dCoCLlOOus AuOBk OAO CubDECo vi
law to be called for is one absolutely for
bidding stockholders or officers of bank
from borrowing from that bank with which
they are connected. This would prevent
any person from obtaining unusual advan-
tages from bank by simply contrioutiDgin
large or small amounts to its capital, and, II
the prohibition were strictly enforced, would
remove the temptation from spectators to
engage in banking business.
New National Bank Notes.
Special to the Cincinnati Commercial
WASHINGTON, Oct. 14.-The Secretary
of the Treasury has determined to take no
further action at present toward the re-
placement of worn and mutilsted, and sue
cessfuly counterfe;ted circulating notes of
National Banks. Congress, at its last ses-
sion, appropriated six hundred thousand
dollars for the engraving and preparing of
these new notes, the Government to bs re-
imbursed through payments By the banks
for such of the new notes as they might
take, but it is optional with banks
whether they take any of the new notes
or not, and therefore only fifteen or six
teen applications &Aave been made by
banks for new tens that are now ready
for issue. As previously stated in these
dispatches, tire banks are generally dissatis-
fed, some of item holding that if they are
to pay for q reissue of their notes they
ought to be allowed TO select their own de-
signs, and have their notes engraved and
printed at such places and By such respecta-
BILE and reliable b4Dk note engrayers and
printers as they might choose to employ.
The secretary seems to be disguised with
the whole matter, and will let it drop for the
time being, in the hope that be will be re-
lieved from further trouble through the ac-
ton Of Congress at the next session.
The National Banking Act Violated.
Special to the Louisville Courier-Journal.
. WASHINGTON, Oct. 15.-The New
7 ork Times, an administration organ, ad-
mits that Secretary Richardson and. Con-
troller Knox have violated the thirty first
section OF the National Banking Act, which
says that certain banks shall at all times have
a reserve OFFS per cent. in legal ten iers of
the aggregate amount of its notes in circu-
oul oud ifa dQrneitu