The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-05-16
WASHINGTON.

Hlm VI Hoyt: SpfaSue ~ TO-, uieu luis
morning of pneumonia.
Gov. Hebert authorizes the statement that
the report Of the subcommittee of the
Senate Committee on Railways and Canals
by no means insures the passage of the
Ead's jetty bill, nor does it destroy the Ill
innate success Of the Fort st. Philip Canal
bill.
But it may have the effect of defeating
all generous legislation for the benefit of the
South and West looking to permanent
outlet to the Gulf for this session The
pressure to retain the outlet at New York,
Boston and Philadelphia is for the moment
overwhelming.
The President has issued the following
| Proclamation.
Whereas certain turbulent and disOrderly
persons, pretending that Elisha Bax ter, the
present Executive of Arkansas, was not
elected, have combined together, with force
and arms, to resist his authority as such
executive and other authorities of said
State;
And whereas, said Elisha Baxter has been
declared duly elected by the General Assem-
bly, of said State, as provided in the COnsti-
tuition thereof, and has for long period
been exercising the duties of said Office, into
which he was indicted, according to the
Constitution and laws of SAID State, and
ought by its citizens to be considered as the
lawful executive thereof;
And whereas, it is provided in the Con-
stitution, of the United States, that the
United States shall protect every State in
the Union on application of the Legislature
or of the Executive, when the Legislature
cannot be convened, against viOlerce;
And whereas, said Elisha Baxter, under
Section of the Article 4, of the COnstitu-
ton of the United States, and the laws pass
ed in pursuance thereof, has made applca-
ton to me to protect said State and the per-
sons thereof against domestic violence;
And whereas, the General Assembly of
said State, convened in extra session at the
Capitol thereof, on the 18th inst pursuant
to call made by said Elisha Baxter, and
both houses thereof, have passed a joint res
olution, alse praying me to protect the State
against domestic violence;
And Whereas it is provided in the laws of
the United States, that in all cases of insur-
rection in any State or of obstruction to the
laws thereof it shall be lawful for the Presi-
dent or the United States on application of
the Legislature of such State, or of the Exc
cutive when the Legislature cannot be con-
vened to employ such part of the laws and
naval forces, it will be judged necessary for
the purpose of suppressing such insurrec-
ton or causing the laws to be duly executed,
and whereas, it is required that whenever it
may be necessary in the Judgment of the
President to use the military force for the
purpoe aforesaid, he shall forthwith, by
proclamation, command such insurgents to
dispense and retire peaceaby to their re-
spective houses within limited time:
Now, therefore, l, Ulysses S. Grant, Presi-
dent of the United States, hereby make
proclamation and command all turbulent
and disorderly persons to disperse and retire
peaceably to their respective abodes, within
ten days from this date, and hereafter to
submit themselves to the lawful authority
Of said Executive, and the other cOnstitu-
ted authorities of said State, and invoke the
aid and cooperation of all good citizens to
uphold the law and preserve the public
peace. In witness whereof, have here
unto set my hand and caused the seal of
the United States to be affixed.
| U. S. GRANT, President.
Attorney General Williams ON the Ar
| kansas Question.
Attorney General Williams has given an
opinion in the Arkansas matters referred to
him by the President. He says it would be
disastrous to allow the proceedings by
which Brooks obtained possession of Office
to be drawn into precedent. There is not
State in the Union in which they would not
produce conflict and probably blocdshed.
| They cannot be upheld or justified upon
any ground, and in his opinion Elisha Bax-
ter should be recognized as the lawful
Executive of the State of Arkansas. The
President will to-day issue a proclamation
in accordance with this opinion.
The Senate Currency Bill.
WASHINGTON, May Is. = The following
carefully prepared statement of the mean
ing OF the currency bill passed by the Senate,
| though no one seems to understand it, is
| ta1o cd ha c1o Ocnhf To Ia
solution of the riddle extant:
The new Senate currency bill passed yester-
day by that body provides for free banking,
releases the reserves on circulation except
5 per cent, which is to be deposited IN the
Treasury for purposes of redemption in
United States notes, and requires reserves
on deposits to be kept by each bank in it's
own vaults, part of which reserves shall
be One-fourth part of the coin received by
it as interest on bonds held as security by
the United States Treasury to prepare for
specie payments.
| The bill requires the retirement OF green
backs equal in amount to 25 per cent. of the
new National Bank currency ISSUED, the re-
tirement to begin within 80 days after the
amount of 81, 100000 of the National Bank
currency has been issued.
| The maximum amount of United States
notes is fixed at $685., 900, and retire
| ment snail DE IN reduction OF that amount
until it be reduced $3OO,0OOOOO. The re-
dempton section of the bill provides that
on and after July, 1873, the greenbacks,
when presented in sums of $1,000, or any
multiple thereof, may be redeemed in coin
or bonds bearing Al per cent interest in coin
at the option of the Government; and it
shall be the duty of the Secretary of the
Treasury to reissue the notes exchanged for
bonds.
The best features in this bill are those
which require the reserve on deposits to be
kept by the banks of different parts of the
country, in their own vaults, instead ofsend
ing them off to New York, to be loaned for
speculative purposes in Wall street. and
which provides that part of these reserves
shall be constituted of one fourth part OF the
coin received as interest on the bonds held
by the Government as security.
| These provisions may serve to strengthen
the banks at home, and perhaps tend to