The New York herald., 1876-10-23
WASHINGTON. w
FROM OUR REGULAR CORRESPONDENT.

SECRETARY MORRILL, AND HUGH M'cuLlocH ON
UNITED STATES SECURITIES.
Secretary Morrill, think that in the event OF
war in Europe either the OF securities gen.
orally, particularly that Of the four and half
per loan and its growing success, would be ma
teriaiy affected Should Russia engage In hc
said though,ully the demand for bonds might be
checked temporarily, but eventually 1t would benefit
them. because they would be more sought alter as
reliable securities At all events the character Of the
would DO at all involved but would come TO
be regarded by European nnanciers, by contrast with
othcr competing investments offered, as much safer
from the of things which surround them calcu
lated to influence their value and stability. He, how
ever contends that, should change OF administration
occur that further negotiation OF the four and haf
per cent loan would be materially retarded This
woulo not arise much from what the dem
ocratic party would do in tho way OF
legisatiou-as in tho end would not to much
Immediately with an opposing Senate TO act as check
upon itbut he argues that the excitement OF debate
and proposal OF various measures by democratic
House divided finance. has already been shown,
would be likely to disturb ihs market and render
financial circles timd and uncertain the record OF
the permanency and regulation OF tho present guaran
tees OF United States government bonds and the pay
mcnt OF interest upon them.
Ono OF his predecessors however, Hon. Hugh
McColoch, Secretary OF the Treasury under
the late President Johnson, now here, in the
course OF long conversation tonight on the finances
OF tho United States and their obligations, docs not
concnr with Secretary Morrill,, but rather takes tho
same view as recently announced by Mr.. Belmont in
his letter. Mr.. McCuiloch who has been in London
for long tmc says that the ascendancy Of party
the other does not mako any difference whatever in
tho acceptabity, SUCCESS standing of United States
government securities abroad He believes that
TIM leading OF the democratic party are az bottom
all right the question of correct national finances
and the integrity of the obligations of tho United
States, and If in power would not daro DO anything
which would impair their high character. Even Mr.
Hendricks, whom ho well knew, although lc was sus.
pected Of grecnback procvties II elected would not
countcnancc anything which would act injurousy to
national credit. in Europe, If they should
have one, which he doubted, would ultimately benefit
United States government securities which would be
preferred to other loans.
MEMBERs OF THE CABINET IN CONSULTATION
WITH THE CHAIRMAN OF THE NATIONAL
REPUBLICAN EXECUTIVE CoMMITTEE-THx
PROSPECTS IN NEW YORK.
Secretary Chandler arrived hcre this morning from
New York and this evening informal meeting Of
members Of the Cabinet with him was had it under
stood for the purpose talking tho political stua
tioE. Secretaries Cameron. Morrill, and Attorney Gen.
cra Taft were invited to meet Mr. Chandler at half
past nine O'Clock, and earnest consultation followed
Secretary Chandler speaking rs chairman OF the
National Republican Executive Committee with refer
his political labor New York city, says that
everything is moving harmoniousy, and tho situation
In New York State looked better. He is Of the
opinion that tho democratic party cannot carry tho
State unless by a system of stupcndous frauds adding
with cmpnasis, "frauds larger than they pcrpe.
trate"
DENIAL OF ANY uxYRIENDLINEss BETWEEN
PRESIDENT GIANT AND GOVERNOR HAYES
THE TRUEsT coRDIALIrY xxIsTs.
Representations having been mado that
friendly state OF feeling exists between President
Grant and Governor Hayes, It may be stated on tho
authority of Attorney General Taft that It been
demonstrated that tho most cordial sentiment exists
between them Persons who ioimical to both and
aniagonistic TO them politically have been quite
siduousy at work In visiting the various newspaper
Offices of latc ana making statements Of con-
vcrsations overheard here among Governor Hayes
intimate friends and which they assert
crcd expressions 10 tho effect that neither
Governor Hayes his frionds gong
to allow any belief to arise that hc was disposed
to assimate with President Grant, either of
policy in the conduct OF the close Of his admnstra
ton President Grant feels, no has shown every
occasion, very cordial feelings towari Governor
Hayes 1t has beon said, Also that Governor Hayes
would givc no Endorsements 10, ask
any favors OF any one under tho pres
ent administration, while the fact is that several
recommendations for the OF clerks have
made by Hayes Interior and Post Office
departments and these desires have been Invariably
respected.
President Grant will continue to manifest toward
him tho distinguished consideration and friendship he
Of Governor Hayes
SENATOR PATTERSON AND THE ARMY.
OGccrs OF the army and War Department officials
are very indignant tho impuations upon them
by Senator Patterson OF South Carolina, In n speech
which he delivered here last night, who made the
broad assertion that large part OF the trouble expert
cnccd by Southern republicans is from the aflliaton
of army officers with the democrats when they
ordered among them to repress alleged ouragcs and
violence. The military officials this statement
and say that when officers ordered duty any
where and clothed with responsibility and discretion
they do not know either democrats republicans but
simply obey their instructions mparliay. II is
lieved that dissatisfaction has because slight
pretext In imagined disturbances, as is often the
case parties successful in the Southern States
in their applications for small bodies OF troops to 90
here and there. The officers take calm view and
not act ON impulse, no matter how they impor
tuned, notwithstanding they claimed by repub
licans When detailed they believe 1t their duty
protect all alike, and do this very strictly.
IRELANDs CENTENNIAL ADDRESS
Tho Hon. 0'Connor Power, NJ. r., who has had
charge, with his colleague, Mr. Parncl OF lrcland's
Centennial Address TO President Grant. has
communication from the Hon Mr.. Cadwslader, acting
Secretary OF state. touching the formaty necessary
in having presented through the British Minister as
nv tc
State Department will be Ieased Cooperate IN that
direction In reply 10 this II Is said by friend OF the
Hon O'connor Power, that the latter is gong TO re-
spond in respectful. firm and pithy manner 1t is
but justice TO President Grant say that he was
wipg at first, to receive the address at his hotel