, 1874-01-31


notes, In addition to thoao now atithorlzod till
tho whole amount In circulation shall equal
$400 1000 900 In tho aggregate. and oyery lHnuo In
oxcoss OF tint aggregate t6 prohibited; tho net
to take effect some time during tho proaont
year.
Tho third section provides tint tho amount Of
bat1k rosorves sllhll bo on MI average edtlal to
said amount for and during any ono iisonl yenr.
1.-THE fourth section authorizes froo banking.
OTHER PROPORTIONS,
BY tho gan1o vote 1t was agroGd also that any
menabers choosing to do 10 might havo his prop
ositiun printed privately, to 10 considered ut
8onle future day.
proposition Is TINT the secrotary Of tho Treasury
shall every yonr loytroy $50, 900, 600 OF United
stntos .notes,. instead Of putting them In
tho Sinking Fund. and put that amount OF tho
eroonbacka thus destroyed. An inoreasc Of
National Dank notoa Of tint nmount Ia to he
authorized. BY this means, h1r. IloLortB OBJ
eorvon, tho national debt will bo rapidly ro-
d1lcel.
Az tho Committee have finally unanimously
decided to procood to the consideration Of live
buBnoas, tho country nlAy reasonably hope to
boar from them within tue next month.
srNpIoATE ArrA1ns.
so9o sort ali tic oorta Of tIo ayxa ana aeaus
Committee to ascertain tho exact Btatus OF tho
Syndicate affairs have no far proved futile. They
lavo finally almost concluded that either Secro-
tary, Richardson md tho Treasury of)icia1s gon-
a1'' not PROPOSE @ to toll III: L tIsyy 10y % %
know. From tho bost information attain
ab1ot tloro ore still remaining Of tho amount Of
bonds which tho Syndicate undortook to disposo
Of at 1oaat s2?5, ,ooo, 600. Tic Commit
isting arrangements with comp1aconcy, Treasury
ofticials aro maintained abroad for purposes Of
a' The Syndicate ,, at considorablo o,i expense:
tee T. '''s sy Psa P3save s n siyerss Sf ss' boss s
llttlo Bub-treaBury boing established In Lon
don, the Treasury clerks aro dispatched thence
all over tho continent Of Europe at Government
expenHo to dollvor bonds In amounts as tlloy
impression that these oxponaes nro borne by tue
Syndicate, but it is an error. Tho Committee
having failed in their efforts SO far
to got information On this aubjcet
from tho Secretary, WILL, unless light Is
4 resolution to tho House directing Tint thoy bo
furnished with full statement of tho oxact
position in which tho Syndicate affairs stand.
Thoy arc and haye been reluctant to taAo this
extreme course but having. failed IN every othor
j.. sEonETAnY n1oI1ARDsoN's uNropUr.AR1TY
Who sa have boon disposed d soA' to apologies Gse
for his shortcomings nro now turning
against him. and ho is alluded to In conversa-
ton by prominent Congressman and officia1s OF
both parties In tho most oBtuncomp1imentary torms.
II tho President doos not intend to accept Rich
ardaon's resignation, which ho ho1ds. until tho
& per cent bonds aro disposed Of, as has boou
stated, 1t may bo considered settled that the
Probate Judge will 500 the Administration vol
out Of power, 1udging by the delays which the
Syndicate IRE o1lcountoring.
1HFons1En3' FEES.
Efforts have also boon made within few
days to obtain from tho Treasury Depart
mont, for tho information Of tho Ways
aud h1caus Committee copies, OF the contracts
mRdo with 6anborn ard tho othcr two parties to
whom was given monopoly Of informor8' feos
in internal rovonue cases, nj stated in your dis
patchoa raceutly. Theas efforts have beon un-
Successful. Secretary Richardson alleging TINT it
ernmont to have this thi3rination made public.
This will also doubtleaa hc made tho subject OF
q resolution from the Conk -itseo,. who do not
SEQ how 1t Gun bo necessary That this mattor
should bo kept seorot. :