The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-04
A Respite from Financial
Flippancy.
THE FREE BANKING SCHEME.
A Postal Reciprocity Treaty
with France.
SOUTHERN WAR CLAIMS.

WASHINGTON, April 8, 1874.
Respite from Financial TurmOil--HOv
the Currency Bill Is Yet To BE TIM
kcred.
The Senate refused to adjourn on account OF
Good Friday, Senator Sherman holding that 1t
was Just az good day for transaction OF business
as any ether AS change, however, further dis
cussion on the financial question was postponed
until next Monday, by which time Sherman
thought that some plan could be agreed upon as q
compromise and facilitate the final disposition OF
the bill The Louisville and Portland Canal BILL re-
GENTLY passed by the House, was taken up but not
disposed OF. The Financial bill, as reported by
Senator Sherman, will undoubtedly be put aside
and substitute for the first and second sections
will provide that the legal tender circulation shall
be 100000, and the national banking
circulation $4O0 10000. Additional sections which
are to be added have not yet been
agreed upon, the impression having been con-
armed that the sls,ooo,ooo Of legal tenders now
forming reserve in the Treasury would not be
Issued but held as currency balance. In the
event OF the bill passing there will be additional
legislation instructug the Secretary how this
amount is TO be put out and in what manner he
may provide for his currency balance
The Free Banking Project.
The House Banking and Currency Committee
meet on Monday to determine upon some plan OF
action for the management OF the pending bill on
free banking.
Hopeful Prospect OF Postal Reciproc-
ity Treaty with France.
The arrival of the new French Minister has called
again attention and brought some more light
to the much debated question OF the French postal
treaty. The HERALD was right when it predicted,
some weeks ago, that the liberal mind and iron
Will of the Due Decazes would get the better OF
that vexed question. 1t appears that Mr.. Bar
thoidi will not have much to discuss on the matter,
but only to carry out the DUKES instructions by
presenting for Mr. Creswels signature the con-
venti0n which has quite recently been approved by
the French Minister Of Finances on the favorable
report of q French commission, purposely ap-
pointed to examine the projected treaty.
The Postmaster General win probably
not refuse his signature this time, inasmuch as
the treaty is said to be entirely in accord with the
latest propositions OF our Post ONCE Department..
OF course these propositions are not quite so
favorable to France as the first ones 0rered by
MI. Creswell, and which were disdainfuly rejected
by former French Ministers. STILL the present
treaty is the best which could be expected, under
the circumstances for the mutual interests Of both
countries. 1t is said, ALSO that the actual French
administration would go further in its onward
march to progress and break the present ocean
cable monopoly by granting Mr.. Jewett, az Amert.
can, the right OF landing Ia France his cable, about
to be laid between New York ana Holland. 1t
IA true that the Erlanger Cable Company
enjoy now the monopoly on the French coasts; but
1t Is claimed that the monopoly has ceased to exist
through the fact OF the amalgamation Of the
French with the Anglo-American Company. 1t is
said, also, that public opinion in France, which is
still very uniriendly toward the Germans, cannot
forget that Mr.. Granger is Prussian by birth,
and that it would rebound to the popularity Of the
French Cabinet, II the cable monopoly were broken
down, by granting to an American the reciprocity
right which the United States granted to French
parties to land cable on the American shores.
Through this policy that crushing imposition and
tribute laid BY cable monopolists on the public,
and on the press especially, would soon become
thing Of the past.
The Southern War Claims To BE Paid.
The House Committee on War Claims, at their
meeting this morning, took up the report OF the
Southern Claims Commission. The committee
agreed to report and allow the claims. They
amount In the aggregate to between $500 600 and
$70O,OOO.
A Refuge for the Russian MennOnites.
The senate Committee on Public Lands to-day
heard delegation OF the Mennonites from Penn
sylvania and two from Russia, asking legislation
to enable preparations to be made for the settle
now living in Russia, who are obliged to emigrate
from that country prior to the year 1881, or else
perform military service. which the tenets of their
religion forbid The committee authorized Sena.
tor Window, Of Minnesota, to prepare and report
to the Senate q bill authorizing the Secretary OF
the Interior to withdraw from public sale such
large tracts Of land as they desire to occupy
within the next two years, either by homestead
or presumption entry.
Acts OF Congress Made Laws.
The President to-day signed the following
acts:-Reappropriating certain unexpended bal
ances OF appropriations for removals of Indians;
TO improve the mouth Of the Mississippi River; to
authorize the Secretary OF the Treasury to issue
an American register to the schooner Carrie OF
PASSPORT, Me-; making appropriations for the
construction, preservation and repair Of certain
fortfcatlons and other works OF defence for the
fiscal year ending June 80, 1875, and to remove the
political disabilities OF Thomas Hardeman, Sr Of
Georgia
The He'll Gate Work To Be Investigated.
In conformity with the resolution introduced in
the House to-day by Mr.. Dreamer. OF New York,
the Committee of Commerce will shortly investi-
gate the Hell Gate improvement.
The COmmand Of the Asiatic Fleet.
Rear Admiral Pennock win succeed Rear ADM.
raj Parrott in command Of the AsIatic fleet.
Glazing at the Annapolis Naval
Academy.
Secretary Robson is again called upon TO pass
upon the conduct OF a number OF naval cadets at
Annapolis who have been guilty Of "hazing." In
this instance the ringleader is the son OF q Rear
Admiral; but the secretary says neither personal
friendship nor onicial distinction shall interfere
with his previously announced decision in such
matters.
important Civil Service Nomina lions by
the President.
The President to-day nominated Henry G. john
son, Of Meadville, Pa, to be Commissioner of Gus
toms, In place OF w. J. Hanes. OF Pittsburg. This
Il another evidence OF the Presidents regard for
Senator Scott, through whose influence the nomt.
nation was made and against the opposition Of the
present incumbent's most influential friends.
senator Robinson, Of South Carolina, also had the
eatlsf0CtlQn Of having ilyrus IL BALDWIN nominated