The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1874-12-09
OUR NEW YORK LETTER.
President Grants Mcssnge.--Nn.
tiOnal Banks-. The iron Tradc...
New Hallway TnrIfr-.-Taimage's
Church.
PRESIDENTS MESSAGE.

New YORK, Dec. 7.
Wall street does not like the tone of
President Grants message, nor the report
Of the secretary of the treasury, as fore
Swallowed in synopsis reports received here
this morning. There was consequently a
decline in the prices of various stocks this
morning from to p per cent.
The report of the secretary of the treas
ury favoring the repeal of the legal-tender
act on a certain day, the replacing of frac-
tional currency with silver as fast as posi-
bic, and fixing the time not more than
three years distant for the resumption of
specie payment, knocked the gold pre-
MUM down to 1l1s.
The secretary's agreement with the COM
missioner of internal revenue for abolishing
stamps on checks, matches, etc, meets
with popular favor.
The presidents statements advocating
the repeal OF the legal tender act disturbs
financial circles, but his strong ground in
favor of resumption at 10 definite period is
Ibt COusiucTcu lulpoItdu'.
THERE Is MUCH SATISFACTION
that the Executive takes strong ground in
favor of the Cuban insurgents, and it is
| hoped the whole power of the adminsra-
| ton will be thrown in favor of this long
struggling and resolute people.
OPPOSITION TO SPECIE PAYMENTS.
A Washington special says Freeman
Clark, prominent member of the commit
tee on foreign affairs, declares there COM
mendatiors of the president and Secretary
Bristow in relation to specie resumption
will have no practical effect upon con-
gress, as the house is already 100 majority
against such measures.
TIE PRESENT CONDITION OF NATIONAL
BANKS
proves to he something of surprise &c
those who have not been closely watching
the currents of business. In round num-
bcrs we have 50, 0O0,O 900 less specie than @
week ago, $3,000,000 less legal tenders
$3,000,000 less deposits and $4,000 OO(
more loans. The specie has gone to Eng
land. The greenbacks have gone sOutl
and the volumes of loans is swelled by tbt
necessities of the season. But the bank
are practically down to their twenty-five
per cent. reserve and the increase of thu
loans of specie and legal tenders is not re
garded with satisfaction.
ruE IpnN TpAnp rpouuIpa
There is gloomy prospect ahead TO
Pittsburg. A strike of the puddlers ha
caused the closing of all the furnaces ant
rolling mills, throwing 10000 to 40,0O
men out of employment and stopping tn
distribution of 81 900, 900 week in wages
The reduction proposed by the employer
was not very great, but the puddlers coul'
not stop to discuss the question. They de
termined on strike at once.
TIE NEW RAILWAY TARIFF
adopted by the Saratoga commissioners Ia
not been acquiesced in by the managers o
the Baltimore and Ohio railroad, who hav
decided to take no notice of it. The fac
that the competition by water has cease
:, does not justify them, they think, in rais
, ing the rates The old rates between New
York and Baltimore will therefore
: maintained.
: THE PRESENCE or A SQUAD OF POLICEMEN
G in Rev Mr.. Talmadge's tabernacle las
: Sunday evening, ostensibly to protect tn
pastor from violence or his sermon froT
interruption, was novel feature in churc
exercises in this community. If there wa
Y any occasion for it, it would be also a
a alarming feature, but there was not. Tai
madgc says he has received threatenin
letters, which he attributes to personal hoi
tility excited against him ON account of hi
0 sermons against theatres. II.