The Portland daily press., 1874-01-27
WASHINGTON.



| WASHINGTON, Jan. 26-Tbe President has
issued an order directing the appointment of
one officer from each department. to form a
board to collect and arrange for the Centennial
Celebration such articles in these Departments
as illustrate the administration in time of neaca
and its resources in time of war to demonstra TO
the nature of our institutions.
Treasury Balances.
The following are the Treasury balances to-
day:-Currency, 81, 569, 725; special deposit of
legal tenders for redemption of certificates of
deposit S45, 100000; coin, $685. 49,, 1873, including
coin certificates $45, 444,2OO; outstanding legal
tenders, 1881, 767.737.
Mr.. Burleish's Bill.
bill to redeem the legal tender notes and
to regulate and establish the currency of the
united States, was introduced In the House to-
DAY by Mr., Burleigh of Maine 1t provides for
reducing one half the legal tender notes by is
SUING IN their stead 5per cent three year com
pound notes at the rate of 81 600 900 per month
redeemable in A per cent. thirty wear gold
ponds. The other half of the present LEGAL
tender notes are to be retired by issuing legal
regulating currency notes, redeemable on de-
h hland py Interchangeable 3.65 per cent gold
change for bonds, the bonds to be held to re-
deem the notes, and SO on
-Four and half per cent. forty wear gold
bonds are to be issued at par for lawful money
10 banking associations and each State and
Il n
cation with circulation amounting to So for
each lnhabitant, and the money received to be
used TO purchase bonds bearing a higher rate
OF interest, these associations all to be subject
70 the present banking laws. Half of the in
Interchangeable bonds may be held as a reserve
whenever the compound interest notes first is
sued shall mature. The banks shall have one
third reserve in coin. The government NAV
redeem the notes issued under this bill at any
time with gold
The Senate Bankrupt Bill.
-, Inc additional amendments recommended by
the Senate Judiciary Committee to the bank
rupt bill relates mostly 10 matters in detail in
volved in the amendments already reported.
The following. however, are new and import
ant:
First, An amendment providing that in cases
of voluntary bankruptcy, no discharge shall be
granted to debtor whose assets shall not be
equal to 80 per centum of claims proved against
his estate, upon which he shall be liable a $ the
principal debtor without the assent of his cred
itors in the number and value as prescribed bv
the existing law. This repeats the provision
which now requires 80 per centum of such as
sets.
Second, An amendment providing that in
computing the number of creditors who shall
join in the petition to have the debtor adj1dged
bankrupt, creditors whose respective debts do
not exceed $3.50 shall not be reckoned as a part
OF the requisitelproportion of one-fourth Of all
creditors, but if there be no creditors whose
debts exceed said sum of $780, or if the re-
quisite number of creditors holding debts ex-
creditors having debts of less amount shall
be reckoned for the purposes aforesaid.
Gen. Sheridan ON the Army and Indian
Question
1t Gen. Sheridan was before the House Mil
itary Committee this morning, and in the course
of two hours consultation gave his views in re-
regard to the policy and feasibility of the re-
1uoti fIa 10 tl,o
his command the division ,of Mississippi ex-
tending from the Eastern boundary of Illinois
to the Eastern lines of California, Nevada and
Arizona from British Columbia to the Gulf of
Mexico, and stated that the aggregate military
force OF that vast area, containing nearly all
the hostile Indians of the continent, was about
16 900 men. He considered that force quite
sufficient for the purpose, although the troops
were worked harder than any other troops in
the world, but he believed to reduce it would
be to imperil the peace of the frontier settle
ments. AS it was, he was frequently COM
PEELED to refuse applications for the establish
ment OF new military posts, partly because the
force was so small, and partly because there
was no provision made to meet the expense of
creating barracks and quarters for the troops.
He deprecates the frequent legislation of Con-
gress in regard to the army, stating that its eff
feet has been demoralizing to officers and men,
He thinks that in proportion as a country is ex
banding, the necessity for body of neutral
meh Ahe INC army, enaI VIII obey cfderS, VIII
become more and more apparent. He illustrate
ed this view by referring to the apprehension of
troubles recently in Chicago, when property
owners were anxious to find out how long it
would take him to get troops there.
In regard to Indian matters he recognizes
the policy of the reservation system, dut thinks
that one effect will be to diminish the number
Of Indians, the first process being the dying out
of the Indians on the reservations chiefly from
consumption superinduced by homesckness.-
The remnant that will be left after the dying
out process WILL he thinks, take to agriculture
and etmixed up with white blood as in case of
the Cherokee and other .semi-civlized tribes in
the Indian t. rritory and he gradually elineated.
He reticules the idea of influencing the Indian
by moral suasiOn, and thinks the present peace
policy of the government can be most effect
ualy and cheaply administered by the war
department.
Eorf, TI,;.5 Couo-ocn MA c.