New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-06-29
Official: GEO. K. LEET, A. A. General.
CURRENT TOPICS AT THE CAPITAL.
THE ARKANSAS TROUBLES.


"Covp Rrooks of Arkansas has been here for
some time. and was before the Attorney-Genfral
making an argument in favor of his claim to the
Goyernorship of that State on Saturday. Both
Senators are also here, and in almost daily confer
ence with the Attorney General on the same SUD-
ect. and also with reference to the filling OF the
vacant judicial offices in that State. bill ABOLISH
ing the Western District Of Arkansas was passed by
the House shortly before the close OF the sesslon-a
cure for the troubles in that district, WHICH was
recommended by the President and AttoIney-ueh-
eral-but the Senate, for some reason ala not pass
the bill However Judge Story, against whom
there were some monstrous charges, when the
House Judiciary Committee only half investigated
found it for his interest to resign, and on Saturday
at the request of the Attorney-Genera, John N.
Sarber' the U. S. Marshal resigned, the resignation
of both having been promptly accepted. 1t Is 10
fill these two offices that Senators Clayton ana DOT
sew are so anxious. The Judgship Is very desira-
BILE place and is life office, and the Marshaishipi 10
an Office N which much money may be made, Judg-
ing from the men who have filled it within the past
few years. The Judge of the Eastern District mas
been directed to hold court in tho Western District
until successor to Judge Story Is selected AS 10
the Congressional inquiry, whether Arkansas mas d
republican form of government, large mass OF tes
timOny has already been taken, but mostly on the
Brooks side for the city has been overrun WIN MS
nartsluS. lne Baxter men Seclil W nave ~
home to wait until called for The SubSpeclal Com
mittee leave here on the 10th of July for Little
Rock where they VIII finish the investigation, ana
report at the next session OF Congress-
THE REDEMPTION OF NATIONAL BANK
CIRCULATION.
Some Of the National banks are already taking adj
vantage of the privilege accorded them in the 4th
section of the new Currency law. which permits any
hank desiring to withdraw its notes. in whole OF IN
mart from circulation to deposit greenbacks and
take up the bonds deposited security for Its cir
culat,nQ notes, and authorizing the Treasurer TO
redeem the outstanding circulation OF such Dahk 10
the amount of the greenbacks so deposited. Inc
only conditions are that bonds shall be withdrawn
in sums of not less than $4,000 and that the amount
of bonds on deposit for circulation shall not be re-
duced below $4,000. The ruling high price OF bonds
is probably the explanation Of such course Delhg
adopted by the banks, they preferring to realize at
the present rate than to be subjected 10 the @
lug inconvenience of maintaining ahu reueehins
their circulation. Should this course oe very eA-
tensyely adopted doubt as to the character OF tne
law will resolve itself into certainty, that IL ls
after ALL q measure of contraction.
AN IMPORTANT LAND QUESTION.
The Attorney General has before him an impor-
tant question In connection with the transfer OF
public lands to Indians upon which decision Is
demanded The question is, Is the State OF Ne
braska entitled to per cent of the value OF the
public lands Isl 25 per acre. in that State which
have been set apart by the Government Tor Indian
reservationsi A very large sum is involved IN tne
decision At the time some OF the States were ad-
mtted into the Union 1t was provided that they
should have per cent of the amount reauzed Holh
the sale of the public lands within the State ana
this provision it is held, entities Nebraska to the
amount she claims. On the other SIDE, II appears
that when Nebraska was admitted there was
clause which, it is held, abrogated any claim 70
percentage. 1t is also question to be considered
whether andsreserved by the Governnehl loi ihuiah
reservations are TO be regarded as solo,
THE PROVISIONS IN THE NEW CURRENCY ACT
REGARDING BANK RESERVES.
The Controller of the Currency has written the
following letter, giving his construction Of the new
Currency Act in reference to the reserve required
to be held by tho National banks
SIR: have received your letter OF the oath inst MY
construction OF the Of June 90 1874 In reference 10
the reserves OF the National banks that Tue reserve
upon circulation Us abolished. but that the Natiohai
banks are required to keep areserve upon deposits as
proyided In sections and 80 OF the National Bank Act
certain proportion which must be kept on hand and
certain other proportion, with their reserve agents
in the cities enumerated in the sections referred TO-
The also required to keep an amount equa 70
five per cent Of their circulation on deposit with me
Treasurer OF the United States, which amount may be
deducted fre aggregate amount OF the reserve re-
qsired to Ne kept on deposit. Very respectfully
join JAY KNOX. Controller.
Geo L. Otis. cashier Commercial National BanF'
Chicago, ILL.,
JUDICIAL OFFICERS REQUESTED TO RESIGN.
The Attorney General is setting some good ex-
amples to dishonest and inefficient judicial officers
In addition to demanding the resignation q Mar
shal Sarber of Arkansas. he asked the Marshal OF
the Southern District of Mississippi to have the
kindness to vacate his Office and the same request
was made of the u. S. Attorney for that district.
These demands were made after the Department had
sent an agent to the district to make an examina-
ton. There were the severest charges made against
these officers including bribery, corruption, and
the oppression Of the people, III order 10 make extra