The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-03-28
A Big Bonanza of Fraud Developed in
the Interior Department.
DOUBLE sWINDLE OF THE INDIANS.
The Bslknap Impeachment Articles Completed
by the Committee.
THE FEDERAL TROOPS IN MISSISSIPPI
FROM OUR SPECIAL CORRESPONDENT.


A FAILuRE-A SCHEME OF THE INDEPES-
DENTS AND OPINIONS OF NEW YORK
BANKER THEREON.
The Payne currency compromise bill could not get
itself before the House to-day, only eighty
hers being willing 10 suspend the rules and let II
hp while l56, OF whom about sixty democrats
and the remainder republicans, refused Thus the
work Of the democratic currency caucus is lost Mr..
Paynes bill amended in the caucus until all that was
originally good In IL eliminated from It, failed
10 satisfy any one, even the soft money
men who amended It TO death. II II had passed tho
House 1t had not the least chance become law but
might have been useful aordins tho occasion for
substitute to be offered in the Senate which might
have had merit and, II so, would probably have been
Idopted by the House by non-partisan vote
The disposition among sound currency men OF both
tides to join hands for sound and moderate
measure of which mention has frequently been made
N these dispatches. does not decrease, and the
Iblest men OF both parties In the House
determined TO agree and
pass It. Meantime, there Is still great
disposition among them TO act as individuals and
without careful that they may In the end, be
defeated by the Arm union OF soft money men who
wiser aud soidly under their leaders.
During the last week several gentlemen, the most
prominent of whom arc Mr. Chittenden, OF New York,
they could gain support for bill directing the issue
OF aour per cent forty fifty year bond interest and
principal payable in gold and of denominations as
low $50 be used for the redemption OF the legal
tender notes tho will of the holders the so
redeemed to be cancelled OF course A number of
prominent bankers and nancers have been consulted
on this project, and have declared in favor OF
likely to Withdraw that part of the currency lying
Idle and unused and by restoring confidence and look
Ing toward resumption Of specie payments pretty
lure to revive business. Concerning the probable
Effects Of such measure. of tho ablest and
conservative bank presidents in New York. Mr. George
B. Coo, of the American Exchange Bank, has written
Mr. Chttcnden the following:-
In my judgment the of the funding privi.
lege TO the legal tender notes which they originally
possessed is most natural mode Of gradually ex-
tinguishng those issues OF government notes
and although at the present price of government
bonds and OF gold they would at four per in gold
be taken at first with cagerncss yet the sur
plus notes now lying idle in banks would
soon be absorbed aud the option to fund
too rapid conversion The community viii
reason upon the subject with practical sense and not
rush into an irrcversibe Investment IL It s likoly
contract the currency to such q degree render
bonds unstable at par After the first fcw days the
price OF gold and of the bonds would adjust them
selves TO the requirements OF for currency
and should have no fear OF unfavorable result
themselves by in,crmediste notes copyertbIs snd
lnterconvertible. but believe IL will be found here
that native sagacity
nation take of itself only remove that in.
supcrsbc obstacle which unconvertible legal tender
notes continually opposes TO the natural operations OF
commerce
Just the free option convert these notes
Is restored all banks and business men will mmedi-
ately forecast the real effect and will conform TO the
conditions with just regard TO the advantages
the dangers 1t would be measure tending naturally
70 specie payments Tor which the prophecy that
such event Will January. 1879 with no
adequate provision 10 produce 10, may be considered
good exchange. The instant overcopversion occurs
" he fpl of he Ia frarf
of discount and the index would be apparent day
by day. as certain as the mercury marks change in
temperature.
Mr.. Willis, OF New York. to-day introduced a bill
which covers the points above mentioned. Is provides
Tor forty year four per gold bonds author
lzcs their exchange for legal tender par and
commands the destruction OF all notes turned or
redeemed and repeats the resumption clause OF
called Resumption act There were some signs in the
House after introduction that Mr. Willis acted
ull consultation with prominent men on both
aides in presenting his BILL but there will be efforts
such consultation Immediately. and there is good
acal OF reason TO hope that the bill will pass the
House. II could hardly fail to pass the Senate for
even the mildcst most tmid sound currency man
object n measure which has for its object
simply TO let the people, II they to- exchange the
governments past duo failed paper obligations
which are due at dxed date, and which have there
fore commercial value II Is more measure OF
honesty than currency measure and enables the
government TO do what any merchant who had failed
but who wished TO reestablsh his credit would do a,
once and before anything else.
7HE PRICE OF ADMISSION TO TIE CENTENNIAL
ExHIBITIoS-THE "DEADHEAD QUESTION
AeTrATISG THE COMMISSIONERS
General Hawley aud other centennial people are
here and discussing the price OF admission to the
Exhibition and the highly important question whether
they shall issue free tickets anybody The noble
''deadhead begins to press for recognition and Is an
embarrassing object Considering the number OF
persons who Will demand free passes IL is SAID that
the Commissioners feel that they ought charge the
paying part OF the public nifty cents for each adj.
mission, but there is to believe that
u there were absolutely ''deadheads"
the people could be admitted at twenty-five cents a
head. One of the Commissioners asked some members
OF the press to-day whether supposed the press
would demand TO be 'deadheaded," and WAS decidedly
aud promptly answered "No" But be evidently
not convinced thought that the popularity OF the
Exhibition would be imperlled unless there a for
inidabie array Of 'deadheads" IL the Commissioners
were encouraged by the press to of absolutely all
Tree admissions there IS little doubt that they would
eel themselves warranted in charging only twenty
Eve cents admission aud printing and selling only
kind Of ticket with no half any other distinc-
lion THIS is undoubtedly high enough No one viii
be satisfied with one VISIT great proportion OF the
Visitors viii wish TO bring their families and viii
lend Their visit over three four days and the tax
which they viii pay from repeated visits will SUN.
sntly swell the bill Of admission even at twenty five
senis.
NIGHT SESSIONS OF THE HOUSE. AND THE
Owls LIKELY TO RESULT THERErroM.
Tho House to-day committed the imprudence of
voting night sessions Tor the transaction Of business
The object, or course Is get work done more
quickly, but every one who knows by experience the
effect Of night sessions knows that they wear out
members and help manly the pas sage OF jobs
Which cannot bear the cooler and more careful
~.