The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-05-13
RECIPROCITY WITH CANADA
A Currency Report ffom the
Treasury Department.
Passage Of the Geneva Award
Bill in the Senate.
INSURANCE CLAIMS EXCLUDED.

tested election case will bring about direct issue
In Congress on the Mormon question. After de-
caring that Maxwell was not elected and that
cannon was elected and was entitled to the seat,
the House, by vote OF more than two to one,
adopted resolution ordering an investigation
into the alleged poygamous practices OF Mr.. Cam
non, the sitting member. The large majority by
which this resolution was adopted is fine indca.
ton Of the feeling in the House with regard to
pOlygamy in Utah and places Mr.. Cannon's expul-
sion beyond a doubt when the report in his case is
submitted. The proposed investigation will open
anew here the contest between the Gentle and
Mormon elements in Utah, and the case will be
very interesting and important one.
Report of thc Comptroller OF the Cur-
rency.
The Secretary of the Treasury sent to the House
Of Represen natives to-day comprehensive report
from the Comptroller OF the Currency in reply to
Mr.. Merrlam's resolution. 1t appears from this
report that the circulation has been distributed
among 81 banks in thirty different States,
000 OF which have been distributed among
banks organized prior to july $780, and $685. 00O 900
70 banks organized since that time. The whole
number of applications received for the organiza-
ton OF national banks is go, representing about
$4,000 600 capital or these applications ITO, rep
resenting $12,000,000 capital, were granted,
but the applicants never completed their organl-
cations. Eighty three applications, representing
$6,000. 900 were filed for future consideration. Two
hundred and nine informal letters OF inquiry, rep
resentng SIS, 900 900, and 20s applications, which
stated neither the amount Of capital nor Of cir
cuaton desired, are at present on file. He also
encloses a list OF banks in the States OF
New York, Massachusetts, Connecticut, Rhode
Island, Vermont and Maryland, from
which the $25,Ooo000 will be withdrawn
under the operation of section OF the act OF
July 12, 1870. The Comptroller states that within
the year following the passage OF the act an
amount OF circulation had been assigned to Ohio,
Indiana and Kansas and other States which
had so far exhausted the apportonment
that 1t became his duty to decline many
applications from these States and to give
preference to other States which had
greater deficiency as required by law, and the act
required that new apporti0nment should be
made OF the ,000 600 on the basis or the
OF 1870, but that the census returns were not
cetved until late in the summer OF 1872
and many applications were deferred until
such apportionment could be made; that
previous to November, 1872. the entire
amount OF circulation had been assigned and
additional applications could not be granted, ex
cept upon the failure OF parties TO whom the
privilege had been given to perfect their organiza
tions; that, under section IA Of the Natonar Cur
rency act, banks organized are entitled to six
months in which to pay up the full amount Of capital
stock. consequently they are also entitled to six
months in which to deposit the bonds as security
for circulation. Owing to this provision and also
on account OF the high price OF bonds the banks
were slow to avail themselves OF the privilege of
circulation. OF the $54.OoO,0O0 authorized by the
act OF July II, 1870, SA,773,260 had been
issued on November 4, 1871; $16 900 30 during the
year endiug November ]. 1872; S7,357,459 in the
$5.e49,O51 unissued; and the Comptroller gives it
as his opinion that the whole of the remaining
circulation would have been saued dur
ing that year except for the monetary
crisis OF 1873. He also quotes from his reports of
1879 and 1873, statements or the mprac tcablty OF
the law requiring the withdrawal OF circulation
from the East and Its distribution IN the South and
West, and recommending the repeal thereof. He
further states that the whole amount OF cir
cuatOn mad been issued 1t would not have been
IN his power without supplementary legislation to
withdraw circulation from the States In excess in
time to supply the demands from the States which
were deficient, and calls attention to the bill now
pending giving him the necessary authority for
such redistribution.
Canadian Reciprocity with the United
States.
There seems to be some prospect that the nego.
tiatlons now going on with view to q new treaty
Of commercial reciprocity with the Dominion of
Canada may terminate successfully. Under the
washington Treaty the enjoyment of the shore fish
cries Of the st. Lawrence were leased to the
United States for twelve years condition that
their cash value during that term should be deter
mined by arbtrators and the amount paid over to
Canada. Anew months ago Mr.. Rothery, an eminent
English juris-consult, was sent out by the British
government to make the necessary arrangements
for giving effect to this arbitration, and he was busy
getting up facts and evidence when the Canadian
government suggested how much more reasonable
and profitable to both countries 1t would be were
the war of their fisheries merged, as formerly, in
treaty of commercial reciprocity. Com
municatiOns between government and
that OF Great Britain on this suggestion
resulted in the present enOrt to ascertain If the
substitution can be made on terms satisfactory to
both parties Mr.. Fish, secretary OF State, con-
ducts the negotiations on behalf OF our govern
ment, and Sir Edward Thornton, British Minister
here, and the Hon. George Brown, Senator OF the
canadian Dominion, act as Joint plenipotentarles
on the part OF Great Britain. The negotiations
nave oeen going on for some months, and 1t is I'M
oerstood That rough outline of "a new treaty Is
now the subject OF investigation and discussion.
Ar. Rothcry, the English law agent In the fishery
arbitraton, has gone to the Pacific until the result
OF the latter negotiation is determined but should
the treaty iail, the fishery arbitration viii be at
once proceeded with.
Tne Canadians put what is deemed a most ex.
orbitant value on their fisheries. They quote the
words OF eminent American statesmen from Bcnia-
min Franklin downwards in support OF their pre-
tensions, and they cite the great sums annually
paid for many years by our own and the French
governments in the shape OF bounties to maintain
their st. Lawrence fishing trades, as an Invaluable
training school for their respective nayies. they
produce statistics OF all in proof OF the great yaue
Of the fish and fish products annually drawn from
the great deep along their shores, and they show
extracts from on1cial reports OF successive Minis
tiers and special commissioners OF the United states
Treasury in proof OF the large annual cash yaue of
their fisheries to our country Some OF these cx-
tracts show that In 1852 we had 2os 600 tons OF