The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1874-01-12
WASHINGTON.
The Virginius.

w ACH1NUlVN.
The virginius.
WASHINGTON, JAN 1O-Captain Whiting,
Lieutenant Mairix and Engineer w. n. Harris
of he Navy, reported to-day to the Court OF
Inquiries, in session at the Navy Department,
the cause of the sinking of the
Virginius. The court is holding daily ses-
sion.
Treasury Balances.
The following are the Treasury balances to-.
day:~Currency, $4,87l 1886; special deposit OF
legal tenders for redemption Of certificates of
deposit, S39 6S5000; coin, $S5 1854 430, including
coin certificates 42,9OS, 900; outstanding legal
tenders, $685., 1871, 002.
Financial.
The amount of money held by the Treasurer
as security for national bank circulation is
$392, $685. 900; for deposits of public money, $780,
300, $50; national bank circulation outstanding,
$348, 4S9, 81; internal revenue receipts, $780,
087; internal revenue receipts for the month.
So. 452 1872; for the fiscal year, SOL ,279,O5O
Chief Justice Gossip.
Caleb Gushing was called upon by large
number of friends this morning, who came to
congratulate him on his nomination as Chief
Justice. The General, i'll receiving congratu-
lations, said he had no intimation of the Pres
ident's intention till his name was sent to the
Sanate He was reticent on the subject of his
confirmation, but was assured by several prom
inent gentlemen who called that there Was no
doubt on the subject.
Cheap Transportation.
A number of the members of the House met
tonight in pursuance of call to take into con-
sideration the subject of cheap transportation
Mr.. Holman alluded to the fact that during
the last Congress the appropriation for rivers
and harbors exceeded a little over $4,000, 900,
and said it was currently reported that an eff
fort would be made to reduce them this session
to SO, 100000. What was to be the policy of
Congress on cheap transportation was matter
of great moment, but if there was to be such
reduction as has been reported, it need not af-
feet cheap transportation, very large part of
the appropriations usually being for local OBJ
jects. These might in the reductions be dis
penSed with, and the appropriations applied to
a few specific objects where entire States were
concerned, and where the money would be
spent for the benefit of the people at large. =
Mr.. Sever of Virginia, said that his State had
long been committed to cheap transportation
and would endorse any and every proposition
having that object in view. He was anxious
that this meeting should pledge itself to sup
port only such measures of the Committee on
Railways as shall represent all interests of the
country, not only the James River & Kanawha
canal, but all other projects for cheap transpor-
tation,
Mr.. Hurlbert of Illinois, member of the
Committee on Railways, said he came here to
Committee hrojects involving an expenditure of
$130,000,O00. While many of these projects are
local or sectional, some were national, although
in the section where he lived there was no i'm
mediate connection with the Mississippi river,
yet that river was important to the agricultural
interests of Illinois at large. Therefore he was
in favor of the Fort st. Philip canal. The re-
port of the engineers on this subject would soon
be furnished the committee. There were other
projects for facilitating commerce, probably. as
important to them as this and which might or
might not receive consideration. The improve
ment of the great lakes and the means of rem
dering navigation accessible to the sea, were
second to none of the other schemes proposed
for cheap transportation, which included the
deepening of the ST. Clair flats and the Maya
"a canal. Then there was also before the COM
mittee project for canal across New York
so as to divert to the caual western produce
which now sought an outlet through the St.
Lawrence. He also spoke of several other
schemes.
The cry of the West was for some immediate
action on the part of Congress for relief. There
was growing up well founded complaint
against railroads. This had been going on for
ten or eleven years and had extended to other
States. A Subcommittee had reported to the
general committee bill which would be con-
sidered by them, providing for board with a
view to reduce the exhorbltant rates now charg-
ed by railroads. He thought the committee
would endorse this bill and report next week.
He was satisfied Congress could act upon the
subject under the power to regulate commerce
between the States, and gave his Views in favor
of freight railroad 1900 miles in length, show
ing the great advantages which would result,
both to the western producer and eastern con
sumner, while the road itself would be source
OF great profit.
A proposition to construct double track
road from some point on the Hudson to Council
Bluffs with branches to st. Louis and Chicago,
had been made but the projectors require the
United States to guarantee the payment of in
terest on certain portion of their bonds. He
hoped in course of the week to propose bill
embodying in it as pledge of credit of the
United States, with such guards and guarantees
as would prevent the occurrence of such impo-
sitons by railroads as those to which they were
now subject
Mr.. Luttrell of CAL, said that he was in ia
vor of cheap and speedy transportation and the
most he could do was to vote for it.
The farmers of California were bankrupt by
freight shipping railroad and dock rings. The
farmers of his State were the slaves of monop-
oily and he would compel railroads to reduce
their freight.
Mr.. Mckee of Mississippi said that four
times as much money would be spent on the
New York post office as it would cost to build
the st. Phillip canal He wanted to stop the
local appropriations.
Messrs. Bass of New York and Dobbins of
New Jersey favored the general policy of cheap
ment.
The meeting adjourned for two weeks.
CommereiaI.
The monthly report of the bureau of statis-
tics shows the imports of the month ending
August 31st were $52,702,576. Domestic ex-
ports, specie values, 500, S68, 749; foreign ex-
ports, $1.741, 547. Value of foreign commodi-
ties remaining in warehouses August 81, $72,-
1861, against 1871, 648,9 $50 the same month
last year. Excess of imports over exports for
the eight months ending August 31st, $4S, 261,-
459, compared with $S2 43O, 474, the correspond
ing period last year, During the eight months
ending August 31st, 70 per cent. Of the total
Magnificent Job.
WASHINGTON, Jan. II. = Representative
Hurlbut of Illinois, member of the Commit
tee on Railways and Canals will probab ly to-
morrow introduce bill, the feature CT which
he foreshadowed at the meeting of the friends
of cheap transportation last night, for the con-
struction of a double track railway from New
York to Council Bluffs, with branches to Chi
cago and st. Louis, the railway to be construct
ed and operated by corporation under the aus
pieces of the general government and controlled
by board OF government commissioners, the
rates for the transportation cerals to be fixed
at two mile por ton per mleo for any distance
over 75S miles, the entir, length of the road be-
ing 1, 800 miles. These rates are never to be in
creased. For a shorter distance than $50 miles
the rates are to be little more than five mills
per ton. The road is to be operated exclusively
as a benefit road for cereals stock and other
productions. The cost of the road is estimat d
at $125, 00O, 900, including the necessary rolling
stock. The government aid sugguested is a
guarantee Of five per cent interest on $780,
600 of bonds. The capacity of the road will be
10000 tons day each way. The commission
ers are to fix the various rates of transportation
and make sui table provision for the care and
safety of the freight carried both ways. When
the road shall earn beyond what is necessary
for the payment of interest on the capital stock
and eight per cent dividends, the rates of
freight originally established will be reduced