Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1873-01-17
C0,veSbOnaence.
FaO.u p.ssHE.vG roy.

WAsHINoToN, ID. G., Jan. IL, 1872.
50 many are the bills introduced In the
House OF Representatives relating to the
currency, aud so complicated IL the qnes-
ton to be solved. many NJ. Cs, even, con-
fess that they are lost, and disposed to
pause befJre giving their vote for either of
them. The objection raised by some to
Mr.. Hoopers bill, which pro vides for the
issue Of 30 per cent certificates to the a.
mount of one hundred millions, to be ex-
changed for greenbacks, is that IL takes cap
ital from the capitalist aud lows the banks
larger circulating medium with which 10
accommodate their depositors.
If we could fund at 4 per cent our per
cent $40 bonds, now amounting to 342 mil
lions we would reduce our annual interest
charge, 1926, S4OO 900. But while we hold up
before the European capitalists the pros
pect of a speedy and enforced redemption,
we can not compete with even the 3 per
cent consols of "played out England" 1t
has become evident to financial men that
we can not successfully push both methods
Of rapid reduction aud conversion at lower
rates of interest at the same time. Hence,
it is not at all improbable that Congress
will modify the present system, and limit
the monthly reduction 10 lower rate. TIE
rapid enlargement of our resources, with
out any increase OF taxation, will soon en-
large the revenue to AN extent that will en-
able the Secretary to resume the policy
which it is now proposed to suspend The
annual growth of our revenue il about ten
millions.
The provision Of the constitution giving
to citizens the power to regulate commerce
between the States promises not To lie dor
mant much longer. Commercial interests
have hitherto been allowed to regulate
themselves, but powerful combinations OF
vested interests have u>urped undue infiu-
ence in this problem. THIS has attracted
the thought and attention of some OF our
best statesmen, and projects for the reguls-
ton of internal commerce are beginning to
assume more definite form. Among con
tenpated movements Is that Of designst.
ing a board Of Cabinet officers to regulate
these interests according To some provis-
ional methods. This is understood Ia
some quarters, to look towards the estab-
lishment of n Department of Commerce,
with authoritative control OF the whole
question.
The bill for refunding the cotton tax Of
SO and 81 has assumed such proportions
that within a week the press OF the whole
country will TEEN with the subject matter
of this bill, pro and con. The pamphl et
(cope~ Of which on The desk Of every
Member of Congress), consisting of me-
MORALS from nearly all the Southern States
through their legislatures, the Chamber of
Commerce of Memphis, the Merchants
Exchange of ST. Lonis, fol wed by con-
densed arguments of Honorables b. X. Cur
tbs, Hughes * Sharkey and Hersche ".
johnson, tables showing the value of do
nestle produce and cotton exported from
1921 to II, inclusve-price of cotton in
Liverpool and New York during and since
the repeal of hte cotton tax and Liver
pool and London cotton movements from
lS43 to 1872, inclusive. A memorial ac-
comparing this pamphlet praying for the
passage of this BILL is signed by every
member of the cotton-growinS States and
several from other Southern. states.
Senstor Pool of n. c. is talked Of az the
Southern Representative in General Grant =
next Cabinet. 1t is claimed, and with somv
force, that the South should be represe nted
in the Cabnet-if so, there is surely no
more deserving gentleman to represent it
than Mr. Pool. He was one of the pion-
: GERS in annihilating the Ku-Klux, and I'M
yielding in his support for the reelection
of Gen. Grant to the Presidency.
. The female suffrage convention, which
meets on Thursday and Friday of this
week, will be exceedingly interesting. The
Woodruff Clafin faction will, it is said, re-
ceive cold reception,-thei free-love doc
trne having already so disguised many o
the genuine, honest advocates of woman
suffrage, that they declare they will not 81
, in convention with Victoria Woodruff, or
any of her clan. J.E.B.