The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1875-12-02
Washington News and Gossip.
THE sPEAKERSHIP.


The speakership question is discussed with in
creased warmth. The general opinion seems to be
that Kerr is gaining strength. He has re-
ceived assurances of the Unanimous support of
the Georgia, Tennessee, Virginia and West
Virginia delegations which greatly elates the
hopes of his friends respecting the southern vote
generally. The Massachusetts Democrats are
wholly unpledged. and it is safe to say will re-
main untrammelled, but probably ther votes
will at least be found for Kerr nine, Cox three.
and Randall oDe on the first ballot; and it is
claimed that on the second the three Cox votes
will be changed to Kerr.
THE coMPTRoLLER's REPORT.
The report of the Comptroller of the Curren-
cy is now in the hands of the Congressional
printer. After giving the financial history of
the Government since 1902, the Comptroller
says: One of the principal objections urged
against the national banking system is that il
is monopoly; moreover that its monopoly is
authorized and continued at the expense of
the Government. The reverse OF this is true,
for the national system, so far from being
monopoly, has in fact uprooted the real bank
ing monopoly, which has existed in this coun-
try since the foundation of tAe Government
down to a late day. Should the national sys-
tenn be unfortunately overthrown, the monopo-
ly would be again and at once revived by the
repeal of the provision imposing a tax of ten
per cent upon the issues of State banks. which
provision is known to be one of the compensa-
tions of the war. In order to show what prof
its the banks derive from their business, he
furnishes statement giving the amount of SO.
curity deposited in the Treasury by these in
stitutions, the same as was published by the
| United States Treasurer in his report. An
| elaborate tab'e is appended, which shows that
| the total amount of available bank circulation
..C Ind al Gfak k1.<I IL
| The total Interest on this sum at per cent
| would be $46,990,779 allowing the gold pre-
MUM to be 16 per cent. When the rate of in
terest is per cent, the value of the circulation
| to the banks is less than 3-4 per cent, and
| when the interest is 10 per cent the profit Is
| less than "a per cent In treating of the pro-
posal to issue 365 bonds instead of National
| Bank notes, he argues that on the issue of
| $400,000000 as advocated, the Government in
stead OF saving would lose $4,000, ,0O0-the diff
ference between the amount lost on National
Bank tax and that gained by the proposed is
| sue. Many of the banks would go into liquida-
| tion and their stock holders would organize as
| private banking firms Mr.. McCulloch says
that the destruction of country banks In Egg
| land has upon three different occasions n lIy2
and 1S14-15-16 and in 1886 produced Ian ex.
| tent of bankruptcy and misery that has, never
| perhaps been equaled except by the Mississippi
| scheme.
THE NEW SEAL LOCK,
The committee of experts appointed by the
Secretary of the Treasury to select lock for
the use of the department on bonded ware
houses, cars, ETC., has just decided on combi-
nation papeI-seal lock, made by Beardsley of
Baltimore, and the department has ordered
eight hundred OF the new locks at the contract
| price of So apiece. As fast as more are needed
| they will be put into use instead of the Ameri-
canseal lock, which is glass seal, opened by
/ kew,