Los Angeles daily herald., 1874-05-01
EAST Err NJ.
What the President Knows About
Currency.

What the President Knows About
Currency.
WASHINGTON, April 30.-An offer
having been made to President Grant
without Il compromise on finance
measure that would be acceptable to
both sides, the President replied that
he did not know what force was in
tended to apply to the word 'compro-
mise,n unless it was an agreement to
carry out pledges to the country that
might be considered a compromise by
those who originally defended every
proposition offered during the discus
sion in Congress- and by so doing have
reason to believe'that such legislation
would meet with his approval. 1t had
been said that he promised in his last
message to heartily support any meas
ure Congress might decide upon He
did not intend any such construction
should be put upon his language. Ii
he had not made himself understood
before, his recent message would clear
up anything like ambiguity. One thing
he had endeavOred to make it plain
during his administration had been
that he was for carrying out the sol
emn pledges of the Government, at
the earliest day possible, and to return
to a specie payment. The establish
ment of our currency on gold and
silver basis had been uppermost on
his mind whenever he sent to
Congress his annual message.
He had not said what Kind
of bill he would approve. 1t was his
earnest hope that Congress would dis
pose of the question of redistribution
of the twenty-four million dollars of
banking currency with five million in
notes belonging to banks, and the
banks in the South and West ought to
furnish for the present all that was
asked for, and he had been assured
since the veto of the finance bill that
the New England banks were anxious
to reduce their circulation, inasmuch
as that now held for circulation
would be released and furnish them
with larger currency capital for loans
than they now have, while our securi-
ties were worth in legal tenders six
teen and seventeen cents above par,
and National Banks were bound to be
secured under the existing law, he
did not wonder the New England
bankers were anxious to cancel their
notes and get their bonds. In fact,
this suggestion was made to him early
last Fall, during the stringency OF the
money market, and he thought it
worth calling the attention of Congress
to in his last message. Since then he
has heard nothing to change his opin-
ion on the point.
Confirmation of a Number Of Federal
AppOintees.
WASHINGTON, April 29.-The Sem
atsshas confirmed the nomination of
Peter Whaley as Agent for the Flat
head Indians in Montana Territory;
also of X. Danforth as Register of the
Land Office in Arkansas Valley Dis
trict, Colorado; also James l.. Mitch
ell as Receiver in the same District.
The nomination of McCook to be Gov
ernor of Colorado was again discussed
without action. Mrs. Catharine II.
Smith was confirmed as Postmistress
at Wala Walla, Washington Terri
tory.
Proposal to Remove the BIackfeet
Indians.
Delegate McGinnis' bill to remove
the Blackfeet Indian Reservation in
Montana has passed both Houses and
been signed by the President. The
Maria river is fixed as the limit of the
Reservation.
An Indian Agent Nomination Not
Confirmed.
The Catholic Church nominated
Commissioner Owen Garrighan as
Agent for the Flathead Indians in
Montana; but Secretary Delano de-
clines to appoint him OH political
grounds. The Catholics then sug-
gested Whaley, who was appointed.
In Memory Of Summer.
BOSTON, April 29.-The city's tribute
to the memory Of Sumner, IN Music
Hall this afternoon, in spite of the
rainy weather, was imposing. The
audience, which crowded the hall to
its utmost capacity, included members
of State and city Governments, Legis-
latures, Judges of Courts, and many
prominent persons from other States.
Senator Schurz, orator of the day, was
introduced by Wendell Phillips.
Destructive Fire in Philadelphia.
PHILADELPHIA, April ga fire
broke out this evening in the be-
tween-decks of the New York steamer
Mediator lying here. The vessel and
M po,~ wont In Con0 ono will ,,ro ba hIxy ka