The New York herald., 1874-12-29
FROM OUR REGULAR CORRESPONDENT

WASHINGTON, Dec. %, 1874.
THE PRESIDENTS SOUTHERN PoLIcY-ANT1CIpA-
TIoNs OF FURTHER BLooDsHED-
SHERIDAN DESPATCHED TO NEW ORLEANS IN
READINESS FOR AN EMERGENCY.
The determination of the President to make such
changes In the personnel OF the officers OF the De-
partment OF the Gulf as would contribute to its
greater efficiency was fully reported In this CORE
spondence last week. The republican Senate eau
Gus in dividing its labors appointed, among other
committees, one on the condition OF the South,
and, through subcommittee represented to the
President the importance of giving the command
OF the federal forces in New orleans to some of-
Ger who in an emergency would act without
delay and not wait for detailed instructions
from Washington, while a riot was expend-
Ing Itself upon State officials recognized
by the federal government. The officer
chosen was General Terry, commanding
the Department OF DAKOTA, but 1t was learned
that he is suffering from Ill health, so that it was
not advisable to chance his post for the present.
The. friends OF General Emory in Washington In
terposed an objection to any change on the
ground that it would be construed as rejection
upon his ability, patriotism and obedience to
orders; and also, as the Louisiana troubles were
purely OF a political character, change would
look as though the army was welded for partisan
carpetbaggers ana their friends that new mill
tary department ought to be constructed so as to
give the command OF the turbulent States to one
commander After hearing and promising the
friends OF Governors Kellogg and Ames that some
thing should be done or somebody would
be hurr,n and after wrestling with the social
influences which were brought to bear in favor OF
General Emory, IL was finally decided on
Saturday last to send Lieu tenant General Sheridan
on tour OF inspection through Arkansas,
Louisiana. Mississippi and Alabama, with In.
structiOns to report as speedily as possible.
carrying out substantially the same duty assigned
General Grant by President Johnson in 1866 He
was further directed to give his immediate at
tenton to the task and lay aside all other business
until 1t was accomplished. Copies OF previous
orders to General Emory, fully acquaintng Gen.
eral Sheridan OF the exact attitude or affairs IN
Louisiana, were enclosed with the confidential
letter mailed to him on Saturday BY the
Secretary OF War and duplicates OF all the papers
were likewise forwarded to Genera! Sherman.
This document reached General Sheridan this
afternoon, and as ne had been informed by tele.
graph that the order Of September last, to hold
himself IN readiness for immediate departure,
New Orleans being UNDERSTOOD" was again re-
newed, the General Is probably on his way South
tonight, and win reach New Orleans on
Wednesday. Against this order General Sheridan
personally protested, the duty being an unpleas-
ant one and visit to New Orleans not at all de-
sirable to him. On arriving in New Orleans he
will confer, not with General Emory, but with Col
Onel Merrill, who, In the opinion of the War De-
partment is the only officer thus far who fully ap-
preciates the situation. General Emory Will con-
tinue for the present in command Of the Depart
ment of the Gulf and Colonel De Trobriand In
charge OF the federal forces In the city OF New Or
leans The Importance attached to the mission Of
General Sheridan by the carpet-baggers and their
followers indicates that more Is expected from his
visit than from any report he may hereafter make.
His conduct during the riot in New Orleans in 1896
gives Sheridan prestige which it Is believed the
White Leaguers will not care to increase, Tor the
moment an outbreak occurs he will assume CON-
mand in person. and direct the troops to carry ouy
the Presidents policy OF "hurting somebody
GERAfANY's CONSUMPTION OF SPECIE IEssENINo
THE DEMAND FOR AMERICAN FIVE PER CENT
BONDS ABROAD.
The contract entered into by the Treasury De.
partment with the Rothschilds TO place the re-
mainder OF the five per cent bonds will expire on
the 3oth OF January next, their bankers having an
option until that date. The Syndicate has already
taken $55 000 0oo leaving $129 OoO 900 yet dis
posed Of When the contract was entered into
last summer, the demand Tor the new bonds was
veyy fair, and the secretary OF the Treasury
was enabled to make what was regarded
as very favorable contract for the
government. Recently the German govern
ment has put upon the London market
the s15,0OO 900 i've per cent bonds purchased out
of the French indemnity fund. as they now need
gold to strengthen the specie standard OF the En-
pire. At the time the contract with the Syndicate
was made exchange on London was little over
two per cent, while now II Is approaching seven
per cent to stay the outflow OF specie from Eng.
land. The placing OF our i've per cent bonds on
the London market, which were bought for an
investment by the German government, leads
those well informed upon financial matters to
predict that the syndicate will not further attemps
to dispose OF the remaining $I2o OF bonds Of
the nve per cent boan 1t was this Information
that made 1t unnecessary In the opinion Of secre-
tary Bristow, for Mr.. A. q. Catten to return to
London, and Mr.. Catten did not care TO make two
unpleasant ocean voyages at this season OF the
year.
PROMISED REFORMS IN THE POSTAL ADMrN1s-
The Postmaster General has determined upon
thorough examination OF all the larger post
! afArAA with view to their more economical