New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-11-12
BY TELEG APH.
WASHINGTON.
rae New NIi.Ister from Por,ugnI.3

T1e New Nk2DoSeer from P0YtUG0I.3
WASHINGTON, d. c.. November IL
Baron de Ssntannacht, the newly ap-
pointed minister OF Portugal to the United
dent by secretary Fish. The usnal diplo-
matte co0rtesies were exchanged.
Spinney'S Complaint.
Treasurer Spinner, in his annual report,
says constant complaints have been made
and are being made that the laws matis to
restrain the issuing and circulation OF notes
other than those authorized by act of Con
gcess are evsded in lasge ecti0ns Of the
country. and in manv localities they are
utterly disregarded. He says the latter is
particularly true as Of tho South. and par
t!calacly SD in the States of Georgia and
Alabama. Most of these violations of law
are by municipalities and by manutactl7r.
ing companies. Says he:
4 can speak Of this evil from personal
experience and observation. In certain
localities at the South almost the entire ci1-
culatiOn consists OF such loca! issues that
are put upon everybody in change, and
worthless to the holder. This is par
ticu-arly true of the fractional curren-
cy. For this there has never been tho
poor excuse that there was not cur
reney enough as the amount authorized
by Raw has never been issued from the
treasury. being restricted by the issue and
circulation, in violation of law, OF this lie
git:suate and almost worthless currency.
Now that banking under the national sys-
ten - msasurabiy free, that excuse will
not hold. As to the issue Of notes Of one
dollar and upward by the act Of March 81,
1861. it is enacted that every national
banking association, State bank or banker,
or association, shall pay q tax Of ten per
centuin on the amount Of notes paid
out By them This enactment does
not reach the root OF the evil; the
law should be amended and changed
as 10 compel tho payment OF the tax by
municipalities, companies Or individuals
who make the original issue Of such un-
authorized circulating notes. Bankers and
business men in the South assured NE that
even such . tax would not prevent the
issue Of this kind Of currency, and the only
efectual way to abolish the nuisance would
be TO declare the issuing of any kind of OBJ
legation. with view to its circulation ~
money, misismeanor punishable by fine
or imprisonment, Or both, by any court hay
ing cOynlEance thereof.
The Postmaster Generate ReeOmsnendn.
items.
Postmaster General Jewell is now on
gagged in the preparation of his annual re-
port. Il has been stated that ne is opposed
to the proposed postal telegraph system.
This assertion is premature. a. he is not
determined what position he will take on
the subject. Tbs system has succeeded in
other Countries and 1t might be made sue.
cessful here, but there ara circumstances,
he thinks, which make the Scquisition Of
established lines Il matter Of doubtful wis.
dom. and the construction Of new ones
would be Inadvisabie.
As to the subject Of postal savings banks,
the Postmaster General don't favor such an
aggressive movement Oh the banking and
financial institutions OF the people. These
subjects will not. it is likely, be treated in
the report. The receipts and expenditures
and Internal administration Of the depart.
men: will be considered at length. The
Postmaster General is evidently amazed
at the s. .DO0,0O0 deficiency this year, the
expenditure Of S32 ,300. 500 against receipts
OF s2j, 100000.
He will recommend either retrenchment
in expenses OF al increase III postage. He
thinks there are eXtravayancies in many
branches. which he will endeavor to suggest
for. The Postmaster General, it
should be understood. does not advocate
high rates Of postage; he does not be-
ileye 10 attempting = revenue from
this source. br: he does think that it is
poor hnan0iering for the government to
make up such large deficiencies. II re.
ductior Of expenses wilt cover the excess,
this would be preferred; but as the cost OF
Transportation is constantly going up. it
can not bo seen how much aid can be OK.
pseted from that quarter. The report will
be one OF unusual interest and importance,
AZ !: s.:!kaS Oh. on q now path.