The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1877-11-14
Washington Items.


Banks bill TO extend, facilitate and
cheaper land and water transportation
proposes that all moneys due or that may
become due from the several Pacific
Railroad Companies be set apart rs
specisl fund to be used exclusively to aid
in the improvement and construction OF
such railways, canals and levees as may
be deemed necessary aud proper, and TO
enlarge and cheaper the transportation
of freights and passengers in the several
States and Territories.
The Ways and Means Committee
authorized their chairman to report
concurrent resolution providing for the
final adjournment of Congress on the
22d inst. at o'clock.
The Treasury department decides that
the agreements made with the parties
who turned States evidence in ;the
Chicago whisky cases be strictly adhered
TO.
The Cabinet to-day gave attention to
the appointments to be made the present
week, notably the postmaster at st. Louis
and the collector at New Orleans.
The Democratic Senators had eau
Gus to-day, with the view OF advising the
Democratic members OF the Committee
on Privileges and Elections as to the best
mode of procedure and against delay.
especially in the case OF EustiS, of Louisl-
INA, who had no contestant, and the case
of Butler against COrbett, OF South Gar.
olina, concerning which all the facts are
Wit hnnt action
the caucus adjourned till Thursday.
Spotiard and Kellogg have been re-
ouested by the Senate Committee on
Privileges and Elections to make short
briefs of their cases, each to be submit
ted to the other for special rebuttal, and
upon which rebuttsls special evidence
will be taken.
The Senste Finance Committee held a
speclsl meeting this evening, at which
many gentlemen from New York and
Philadelphis, representing the banking
and other financial interests, attended by
appointment and presented their views
against the House bill for the remoniti-
zation OF silver.
Frederick Fraley, of Philadelphia, ar
gued that it would be inexpedIent now
to adopt silver for full legal tender for
obligations due by the Government and
the people of the United State. We
have large dealings with the outside
world, and should we adopt depre-
ciated standard our people would have
TO suffer the result If paper currency
were allowed 10 circulate it would be but
n few months before it would be
at par with gold. The passage OF the
bill would completely check the negotls-
tions to fund the six per cent bonds. de
advised the committee to look at the
question rs one which connects the
United States government with the
outer world, and not act hastily on SO
serious 8 matter.
The New York delegation, which in-
cluded james NJ Brown, a. A. Low,
Samuel n. BabcoCk, and other members
of the Chamber OF Commerce, argued
that should the bill be passed no one
could predict the amount OF injury and
loss it would occasion. The bill had two
prominent features: one the remonetlza-
ton of silver; the other the demonetlzs-
tion of gold. When the bill became q law
If il ever did-Eold would go from our
country and silver would come In. II
the bill were pressed on the people 1t
would be injurious TO all kinds OF indus.
tries. The difficulties At present expe-
rienced by the lsboring classes OF the
United States was caused by the capital
lists Withholding their money.
Mr.. Townsend spoke IN behalf OF the
Savings banks saying if the interest on
government bonds Is TO be paid in silver
the value will necessarily depreciste snd
the poor viii be the losers.
Mr. Ellis made an argument
substantially as follows: Amount
of 6 per cent bonds outstanding
1929, 100000; annual interest, S43, 74O,-
600; amount of per cent bonds out
standing sos, 100000; annual interest,
SS5.4OOOOO Total interest, S79,l4o,OOO
per snnum. If the same amount was
funded at 4 per cent, the annual amount
Of interest would be S57 100000, or sn
annual saving OF S3l $4,000. If these
bonds were paid of at the end OF thirty
wears the total saving duriHg that time
would be ss649, 100000. 1t the same
amount OF bonds WAS paid Oh IN silver
at the present rate OF interest instead OF
gold and relative value OF gold and Sill
yer were continued as now, say differ
ence of per cent, the saving would be
$7l4,96O,OO0, or if the annual interest
wss psid for thirty years to come In sill
yer instesd of gold, the saving in that
respect would be about Sl9O,OOOOOO,
showing total saving to the govern
ment, by substituting silver instead Of
gold, OF about s9l5,OOO,O00, against
S65O,O0O0OO which the government
would save if the bonds were funded at
per cent.
Representative Bland spoke IN favor OF
the bill, and the committee adjourned.
lanes Crow WAS accidentally scslded