The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-02-25
serves-The Comptroller OF the Cur
rency's Annual Report-Hew BiftS.
Nm,~.. T. - ?<r=ssa g. p..-.......,. -.

As sAVASA oohks ana T1eir Legal he-
serves-The Comptroller OF the Cur
rency's Annual RePort-Sew BiffS.
Abinwas Introduced by Representative Ward,
OF Illinois, to-day, which pr6stdea that national
oanks In the cities named In the thirtysst seciioK
Oh tne act OF June g. 1854 may count part Of their
iegai reserves balances deposited with national
bank associations in either OF the cities named
theyela 50 the same extent as is now permitted as
&c 0ne-hsf 81 their respective reserves Kept In
cash deposits In the city OF New York alone.
The bill OF Representative Buckner requires the
Comptroller OF the Currency to transmit to Con-
gress with his annual report list OF all share
holders In the national ba AXIS with the number OF
shares held by each.
The Debate on the Restoration OF the
Franking Privileged FIimsy Attempt
to Deceive the People-A Substitute To
BE offered.
In the House OF Representatives to-day, after the
discussion Of certain unmpo tant measures and
propositions, the consideration OF the Postal bill
was again taken up. The provisions this Oil. as
before stated or the free distribution OF public
documents, printed by authority of Congress- and
OF the transmission OF seeds furnished by the Agr
cultural department. Tor the tree exchange OF news
papers between publishers, and the free transmits
sion ofweekly newspapers by mail within the county
where published" The debate OF to day was opened
by Mr.. Willard. OF Vermont, who declared himself
entirely opposed to the bill and to the modIfca-
ton by which 1t was proposed to revive the
ranking privilege, so far as 1t affected
the sending OF public documents through
the mails. This meant that Congress would
publish the documents to be thus distributed The
speaker said sarcastically that ir had not been
proposed that members OF both houses should
put their hands into the public Treasury and
each take out $4,000 to distribute 1t among
their several constituencies but this was IN TACT,
what 1t was proposed to do. He held that
congressman might as well claim the right
to distribute lighthouses in their respect.
i've districts. The republican party's pledge
to ignore lavoritism was the rock OF its founda-
tion-the favOritism shown toward political pets,
who were fed on pamphlets containing much
sophistry and little wisdom at the government ex-
pense, as chickens OF the poultry yard are led on
the crumbs OF the table. He argued that 1t
could not be consistent with the present frantic
attempts OF the party to reach an economic
solution Of the financial problem for them
to restore the ranking privilege and with
1t the enormous expenditure which 1t
implied. Mr.. Albright OF Pennsylvania,
said that the system of using official stamps in the
public offices, which was available Tor every public
employe, excepting only Congressman, was but
~
the printing of documents was to be stopped
and this means of spreading knowledge upon
special and political subjects and of distributing
seeds and bulbs was to be suppressed, 1t were
better to Immediately abolish the Department
OF Agriculture. Mr.. Garrison N. Potter advocated
the features Of his original bill for the abolition or
the ranking privilege. He thought 1t better that
there should be no free transmission through the
mails Of public documents and that they should
only be supplied to those seeking them and at
the cost OF their publication. He was however,
particularly IN favor OF the free circulation
OF the speeches Of members in Congress.
Mr.. Townsend gave notice Of an amend
ment which he intends to oner making
the freedom OF transportation Of papers within
the county whore published apply to all news
papers. Mr.. Phelps Of New Jersey treated
the subject very humorously, and satir-
Ted Mr.. Garfield keeniy in relation to
his estimate Of the metropolis and the country
editor, and also the attempt Of the committee re-
porting the bill to give 1t to the House sugar
coated so that it would not prove dsagreeabie. II
Congress was going to rehabilitate this old
Jacob Of the Thanking privilege it should
be done boldly. Congress should not make the
, mistake OF attempting to deceive the people
by false issue. MIR. Mellish closed the
discussion for the day by giving notice
tnaC ne WOulQ introduce SUBSTITUTE Tor the Dill,
reducing the rate of letter postage to two cents
an ounce and the postage printed matter to one
half OF a cent for two ounces.
Demoralized Condition OF North Caro-.
ltna-Labor and Production Unremu-
lucrative.
Senator Ransom, who has just returned nom
visit to North Carolina, reports the condition Of
the State, so far as agricultural and cotton in
terests are concerned, as worse than at any time
since the war. He states that, while the cotton
crop will be large, the prices will be low, and
hence not as remuneratlve as heretofore. The
prices are lower because Of the increase in the
yield OF the CROP and also on account Of the foreign
buyers having anticipated it by contracts when
gold was high. The higher the ruling rates OF gold
the lower the market price Of cotton correspond
ingly ia. Many Of the plantations have changed
hands. The labor Is disarranged. and there Is not
the same class Of men in management OF planta-
lions as heretofore. The former planters seem to
have become demoraliZed. and now accept posi-
lions on railroads or In stores ut from $40 20 $50
per month, giving up their former occupations.
York Sub-Treasury.
The Senate Committee on Finance agreed to re-
port favorably on the bill .or the relief of United
States Treasurer Hllhouse, of New York city,
making good the delacation Of one OF his clerks,
amounting to some $4,000.