Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-05-05
WASHINGTON.
Committed Report on the San
born Contracts.
Not One of Them i'm Accordanc,
with the Law.
Boutwell,, Richardson, Sawyer
and Banfield Artisticany
Whitewashed.

WASHINGTON, May Among Tho
novel features developed by the committee
report on the Sanborn contracts is that he
wrote out list from Railway Guide EN-.
bracing 592 railroads, aud made affidavit
that they were all delinquents, when he
knew nothing at least of 45G of them.
Allowing contractors TO collect was a total
| ignoring Of the revenue officers. Not a
single contract filled the conditions of the
law, The Commissioner of Internal Reeve
nue. was never consulted. He protested
against the collections by contractors in a
letter, which the Secretary never an
swered. The committee say that, alarmed
at the looSeneSs of things, they were anx-
ious to fix the responsibility, but can not
do so, owing to contradictory testimony
of Richardson, Sawyer and Banfeld. They
severely eritcise these three. but exonerate
them as well as Boutwell, of corrupt mo-
tives. rF
The slfdeI Property.
The Supreme Court to-day decided the
conilscation case relative to the Slidell prou-
eIty, and several other similar cases. hold.
ing that the proceedings in the District
Court, in pursuance Of which the property
was sold, were regular, and passed full,
lndeteasible title to the purchasers, nutwith-
standing the subsequent REPEAL of the law
under which the proceedings took place.
Special to the Louisville Courier-Journal.
Secretary Riehardson's Successor.
Judge E. lockwood Hoar, member of
Congress from Massachusetts,, is strongly
pressed bya New England influence for
the office of Secretary of the Treasury. soon
about to be vacant. The President is said
by some to listen favorably to the sugges-
ton, but this fact is very doubtful.
The Texas and Pacific Road.
Col. Tom. Scott reached here Sunday
morning, his purposes not being to attend d.
vine service, but as his friends assert to
take survey of the field, and see what
chance there was for getting Congress to
give substantial aid to the Southern Pacific
railroad, by guarantee of interest on its
bonds. The Colonel left the city last night,
satisfied that in the present state of affairs
nothing was to be hoped for.
The Freedmen's Savings Bank.
1t seems TO be settled that the expose of
the affair of the Freedmen's Bank will lead
to the winding up of the bank and its
branches. A bill has already been pre-
pared for this purpose by one of the Sub
committee on Banking and Currency.
This course seems to be necessity; and
yet it is regretted, as it IS believed that the
sale of its real estate will show a large fall
ing off from the assessment at which il
figures in the assets of the bank.
The Financial Question.
1t is supposed that by Tuesday the Sem
ate Finance Committee will complete its
investigation of the Maynard bill, and be
ready to report. II is stated that it has viz
tually agreed upon a bill embodying the |
features:
/. Free banking.
2. Greenback redemption, as provided by |
The present banking law, and that for every |
s2,Oe0, 900 of bank notes to be issuLd there |
shall be retired Sl,000,000 of legal ten
lers.
3. Abolition of the reserves TO protect |
bank circulation, except the five per cent.
required TO be kept at the United States
Treasury Department for redeeming multi
tied currency.
4. Specie resumption in 1877 or 1879.
II is not probable that such bill as
his can pass Congress. The CON
ractiOnists and Eastern men are lust now
-ery fruitful of schemes, but they lead in
40 direction, and involve a contraction of
,reenbacks either now or some years hence.
70 as TO swell the profits of creditors and
and make it hard for the debtor
lass.
The contractiOniSts profess now a readi-
less to have $4,000, 900 of bank currency
and some say that if it be |
not done, it will go hard with the Repub-
lean party.