Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-08-18

!
Special 70 the Cincinnati Commercial.
The Treasury officials are of the opinion
that In view of the almost absolute certain
ty of the negotiation of all the new five
per cent. loans before the meeting Of Con
gress, the Secretary Of the Treasury in his
report win recommend legislation which
will facilitate the sale of the four and a
half and four per cent bonds.
Kick Against Political matchmaking.
Postmaster Edmunds' political assess
ments grow in disfavOr among the govern
ment clerks. The number of those who
have rebelled against paying them is very
large. Most of the clerks from PenDsylva-
mia refuse, and are supported by the resOlu-
tion of the Republican Central Committed
Of the State, which opposes this forced con-
tribution. In the Navy Department the
clerks quite generally decliEe. At the
present progress the fund for establishing
newspapers will not be rapidly increased.
II is said that a considerable sum has been
sent by the committee TO Ohio.
The Internal Revenue Bureau
is making rapid progress in the investiga-
tiOn of the details of the books by which
the whisky frauds were discovered. These
books are mine of information, and con-
tinue to furnish means for discovering
fraud. Fifty distilleries have already been
seized through the instrumentality Of these
books. A large number Of gaugers have
been dismissed by the evidence furnished
from closer examination of their certiii-
Gates. In many Of these certificates the
words indicating that the gauger personally
saw the packages emptied are erased. In
all such cases the gaugers have been dis
missed. The government has decided not
to prosecute such cases, as it is doubtful
whether this Ofiense would come under any
statute.
The Beauties Of Resumption.
Special to the Cincinnati Enquirer.
Preparations for the retirement of the
fractional currency outstanding and the
substitution of silver therefor are beng
pushed forward by the Treasury Depart
ment 10 the accomplishment of this end.
Over ten million five per cent bonds have
already been sold in the purchase Of silver
bullion, and it will require the disposition
Of ten millions more before a sufficient
amount Of silver will have been accUmU-
lated 10 commence resumption, thus add
ing twenty millions to the Interest bearing
debt. To cSTy out the provisions of the
sO-called specie resumption bill passed last
January will, IL is estimated at the Treas
ury Department, necessitate total increase
of the bonded debt Of about three hundred
and fifty million dollars. Should this esti-
mate prove correct (Which is doubtful, for
il is believed the amount will be greater)
there will be an additional burden Of
over SIS,O0O,OO0 per annum imposed
on the taxpayers Of the country to meet
the interest on these bonds. Secretary
Bristow claims the right, under the pro-
visions of this bill, 10 issue any amount Of
five per cent bonds necessary to carry it
intn- -efiae.- The funding act Of 1870 fixed
sns med fat. Al 500. 600 900. "4VJI bQAGs t2uiSdR
SOS. .OOO.O 900 have been disposed OF, and the
Syndicate has the option Of the remainder
until November next. The resumption
act of January last, under which MIR. Brls-
tow claims the power to increase the
amount OF these bonds, contains the follow
ing words: "He is authorized TO
sell, issue aud dispose Of a. not less than
mar il coin either Of the description oil
bonds of the United States described in the
| act of Congress approved July II, 1870"
Senator Sherman cOncurs with the Secreta
~ in his construction Of this section Of the
| act, while other bond lawyers Of equal
ability give the opinion that no such night
| is conferred by the act, and that any in
| crease of the hge per cent bonds over and
above the $500, 100000 authorized DY the
| funding act would be illegal.