The Eaton Democrat. (Eaton, Ohio) 1875-1903, 1877-11-01
NEWS SUMMARY.
Washington

The bill to provide a lawful note and coin
currency for the United States, introduced
in the Senate by Mr.. Wallace, by request
provides for the coinage Of $400, 100000 in
value, of the coin called "goloid, end con-
sisting of gold, silver and copper, in the
proportions of one pound, twenty-four
pounds, and three-fourths of a pound
respectively, to be paid forby issues of 4per
cent. bonds, redeemable in ten, and payable
after twenty years, and to be paid out in ex-
change for bonds bearing a higher rate of
interest, as the latter are retired. The
Z" goloid" coins are to be interchangeable
with United States notes. The bill also re-
quires the Secretary Of the Treasury to
cause to be issued $500, 000, 600 legal tender,
in notes, in exchange for those now out
standing, and to keep at least s35O,OOO,0OO
of the new issue out of the Treasury in cir
culation.
The Senate in executive session has con-
frmed Richard c. Mccormick, Assistant
Secretary of the Treasury; Frederick Knef-
Ter, Pension Agent at Indianapolis, Ind.
Armsted NJ. Swope, Collector of Internal
Revenue Seventh District of Kentucky;
ADIduunl ~ 1Ad1Sn, 4AAL0 AoolosdAS Oot-
master General; Thomas A. Wiley, Col
lector Internal Revenue Ninth District of
Pennsylvania; John NJ. Langston, Minister
Resident and Consul General at Hayti.
The official account of the late fire in the
Patent Office appears in the Official Gazette.
The history of the destruction of models
shows that eighty-four thousand four hun.
drad ond c;x{v-qavon wara hurnad or5 fhraa
thousand two hundred and ten saved. In the
fire of 1886, when the destruction of the Office
was complete, not a single record being
preserved, it was not necessary to restore
more than one-third of the destroyed models
Thirty-three original drawings were de-
stroyed, and will have to be reproduced by
the Office. Thirty tons of photo copies were
the principal loss, but they can be replaced
at a cast of 10000. The losses by fire are
said to have been in the aggregate about
$500, 900, including a sufficient amount to
put the building in ire-proof condition and
restore everything that is actually neces
sary. A surplus of nearly $1,20O,OO0 is il
the Treasury to the credit of the Paten'
Fund, which amount is deemed ample, with
proper economy, to repair the damages don,
by the fire.
Respecting the order intermitting the re
ceipt of deposits of silver for coinage init
trade dollars, the Director of Minis state
that within the last few months about 1000,
900 of trades have gone into circulation il
the Atlantic and Western States, and to tina
extent occupy the place intended for frac
tional silver coins, and the government hal
been deprived of the seigniorage which i
would otherwise have received. The Di
rector states that if there has been any mis-
take it was in not sooner issuing the order
Since the order was issued the mint at Phil
adelphia has been coming deposits made fol
trade dollars, before the order was issued
nearly 100000.
Third Assistant Postmaster General HazeI
has completed the estimate of a~ppropria
tions for expenditure in his Office for tn,
next fiscal year. They aggregate s9O5,OOo
as against $1,15o,0oo appropriated for tn
present year-a decrease of $245,000 O.
about twenty-one per cent.