Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1877-10-31

THE GoIOID CURRENCY

the bill recites that an alloy of precious
metal for commercial coin termed
'golold' has been discovered. and was
patented May %, 1877, by w. w. Hub
bell, the inventor, consisting of one
pound of gold, twenty-four pounds OF
silver, and two and three-ouarters
pounds Of copper, constituting unit OF
value of both gold and silver, two hun.
dred and fifty-eight grains of which are
equal in standard value to either gold
dollar or a silver dollar as prescribed by
law, said metal possessing an advantage
also in size, weight, and density for com
mercial coin in addition to that of a
unit value, and composed of precious
metals largely produced in the United
States, and not corrosive. The bill pro-
poses to authorize and direct the secre-
tary Of the treasury to cause to be coin
ed in the minis of the United States the
sum of $40O,OOO0 900 in the value Of said
coin metals, 250,000,O0O pieces to be
dollars, 200,0000O0 in half dollars,
and 2OO,OOO,0O0 in quarters, each
dollar to weigh two hundred and
tifty-eight graips, and the halves and
quarters to be in exact proportion
thereto, and to be caused to be stamped
thereon suitable words and figures de-
noting their nature and value
Section 2 makes this coin a legal
tender in payment of all debts, public
and private, and declares that it shall
be interchangeable with legal-tender
notes of lawful money, and receivable
for all dues by the United States.
Section 3 provides that the secretary
of the treasury shall also cause to be
reissued as lawful money S400,0O0,000
of legal-tender notes in place of the
legal tender notes now authorized, and
shall keep $3.50, 10000 of the same out
Of the treasury in circulation. 1t also
provides that this metal shall be sup
piled to the minis, and bonds of the
United States, in denominations of $50
and 500, with coupons attached, bear
ing interest ut 4 per cent, be issued, to
run not less than ten years, nor more
than twenty years.
Section & provides that the subsidiary
silver coin now issued shall be retired,
and be exchangeable at the treasury
department for the coin authorized by
this act
THAD. POUNDS OCCUPATION.
Thad. Pound filed new documents
with the secretary of the interior to-day,
asking that the land Office ut Eau
Claire be removed to Chippewa Falls.
He will press for an early decision.
THE PACIFIC RAILROAD INDEBTEDNESS.
A plan has been submitted to the sec
rotary Of the treasury and secretary of
the interior by the Union Pacific and
Central Pacific railroad companies
with reference to the liquid ttion of the
interest Indebtedness of these roads to
the United States. Jay Gould, repre-
senting the former, and G. i. Hunting
don, the latter company, arrived here
to-day to induce recommendation Of
this plan to congress. The plan is to
pay into the treasury each year $500
600, which. in addition to the transpor-
tation account. the officers of the rail-
road companies think will be II sufi-
cient amount to iiquidate the interest
when due, thirty years hence. The
government has heretofore held that
the amount of 100000 annually would
not be sufficient sum to meet the in
terest, and it is probable that neither
Secretary Schurz nor Sherman will
make any recommendation in the
premises.
THE WISCONSIN JUDGESHIP.
There is some diversity of opinion
among the members of the Wisconsin
delegation upon the subject of the Sc
lection of a Judge for the Western dis
trict of their state. Mr.. Williams adj
vocates Judge Cassiday, of GAINESVILLE,
and Mr.. Hazelton 0. b. Thomas, while
the remainder of the delegation, sena-
tors included, are united in favor of
Romano Bum. The supporters Of Mr..
Bum called upon the president to-day
and recommended his appointment.
A D-MoNEY PRESIDENT.
The president is reported As saying
tonight that if congress should pass Il
bill repeating the resumption act he
would veto IT,
MEXICAN MATTERS.
At the cabinet meeting to-day Mr..
EvartS presented very lengthy letter
from Governor Hubbard, of Texas, re-
citing the history of the troubles with
Mcxicans on the border of that state,
and calling upon the federal govern
ment for protection. The facts present
ed in the letters are not new, having all
been published from time to time in the
newspapers, but the letter is the most
formidable appeal that the government
has Vet received from that section.
There was a general discussion upon
the matter, engaged in by all the mem
bors of the cabinet, who agree that the
Mexican troubles are becoming very
grave, and call for immediate action on
the part of the United States. None of