The New York herald., 1876-03-04
ANOTHER CABINET OFFICER THREATENED.
Extensive Frauds In the Navy De-
partment Developed.
GENERAL BABCoCK RETIREs.
Final Agreement Of the Democrats on
q Financial Measure.
FROM OUR SPECIAL CORRESPONDENT.

WAsHrsGroS, March 8, 1876
THE PRESENT PRosTRATIoN oY TRADE AND THE
REASONS THEREFoE-THE WANT OF REc1PRo-
CAL LEGIsLATIoN-How MARKETS. MAY BE
OPENED FOR OUR PRODUCTS.
General Ward, OF New York. and General Gibson. of
Louisiana, combining their forces for an effort to
secure reciprocity legislation with Canada and Mexico
and they have come upon curious facts in their
researches into shamefully mismanaged CONNER
cia relations. For instance whilo factories are
closed and workmen idle they find that the English
selling goods TO our immediate neighbors to an
amount which, II we commanded these markets. as we
could easily by friendly relations, would bring us
almost immediate prosperity and set thousands
OF now idle people work. We manu-
facture about 1900 900 900 yards of cotton
goods per annum In this country, but Great Britain
sells annually to Canada, Mexico and the South Amer
lean States the enormous amount OF 900 yards
Of cotton goods about twoths of our entire prod
uct We ought to command this great market which
lies at our doors, and II did our workshops would
reopen at once.
1t is probable that as one means of securing foot
hold for commerce with Mexico and Central America
bill will be introduced laying discriminating duty
against slave grown sugar. This will not only please
the Louisiana sugar growers. but open our ports to
Mexican and Central American sugars grown by free
labor.
Another circumstance which shows how our com.
merce had been neglected, and why working peo-
pie are Idle has engaged the attention of
bers and will be pressed upon tho Committee on
Foreign Affairs 1t is that we have no commercial
treaty with France, which, II We took the trouble to
establish relations with her. ought buy Of us large
quantities OF some OF most important manufac-
lures Sho takes OF now almost entirely our crude
products Our cotton, wheat, oil and tobacco are ad-
mtted into France under special regulations but the
provisions OF their general tariff enjoyed only
by those nations with which France has entered
into commercial treaties and the United States has no
such treaty. Leather goods, canned meats canned
fruits and the like, are with cotton goods absolutely
prohibited for the mere want OF treaty.
motion has recently been made by Mr. O'Brien,
member from Maryland. for an investigation OF this
matter and 1t has been referred the Committee on
Foreign Affairs, from whom a report is looked for.
AGREEMENT OF THE DEMOCRATIC CAUCUS COM
MITTEE ON THE FINANCIAL QUESTION:
BILL CERTAIN TO BE VOTED DOWN.
The democratic caucus committee have agreed upon
n finance bill which they will present probably without
further modification. 1t provides that the present
volume of legal tenders shall be and that
an amount equal three per OF tho whole paper
circulation shall bc reserved every year in coin, the
governments accumulation being made a part Of
the Sinking Fund
It is safe to say that this bill, IL it shows its
head in the House, will be voted down. It only
submission TO tho EXTREMIST grcenback views and will,
not be accepted by hard money either side.
On Monday II has becn determined to let in without
restriction, all currency resolutions Of what
kind and let the House for itself hoarse on
question which some OF the leaders have hitherto
sought to keep down.
GENERAL BABcocK DISMISSED FROM THE WHITE
HOUSE.
II was decided to-day that General Babcock shall be
dismissed from the White House, and IL is understood
tonight that he has actually received his dismissal