The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1877-06-14

VOLUME V.
UMMARY OF THE GENERAL NEWS.
The New Government Loan.
A contract has been entered into and
signed by the Secretary of the Treasury and
Messrs. Rothschild, J. s. Morgan & Co., selig-
man Bros. & Morton, Rose & Co., Of London,
and Mcssrs Belmont l. Co., Drcxel, Morgan &
Co., J. & W. Seligman & Co., and Morton, Bliss
4 Co., First National Bank Of New York, for
the sale of4 per cent. 80 year consols at par in
coin, Of which twenty-five millions are sub
scribed for now to be paid for July, five mil
lions to be for resumption purposes and twenty
millions for the redemption of six per cent
bonds, and the sales arc to be continued as
rapidly as possible. The contract is for six
months and is similar in general terms to
the former contract, but has this import
ant provision, that for thirty days after, the
loan shall be open to popular subscription in
the principal cities ofthe United States at par
In coin with the right to pay for the bonds
within ninety days after subscription, upon
delivery. Upon the notice given some days
since the secretary Of the treasury has with
drawn from market 100 millions Of AZ per
cent bonds and the former syndicate have SUBJ
scribed under the old contract for twenty-five
millions of the ~ per cent. bonds of that loan,
five millions to be applied during June for re-
sumption purpose and five millions during
July Tor the same purpose, and fifteen to be
applied to the redemption of the 6 per
cent bonds. These agreements close out
the ~ per cent loan and place
upon the market the 4 per cent loan, with q
firm subscription Of twenty five millions. The
new loan, drawing 4 per cent and extending
for thirty ears, with interest payable quarter
yearly, is far more favorable for the govern
ment than any ever before issued, and from its
permancncy and security will become nation
al Investment Of the earnings of the people of
the United States and Europe. Every bond
sold will lessen one-third of the burden
OF the public debt to the amount of the
bond. The bonds are issued for fifty, one hum
dred, five hundred and one thousand dollars,
and larger amounts, and will, by the mode of
their sale be brought within reach Of all class
cs OF people.
Civil Service Inquiries.
A commission Of three has been ap-
pointed by Secretary Schurz to examine into
the methods now in force in the finance and
and accounting division of the Indian bureau,
especially as to the analysis of money and
property accounts Of Indian agents, and
whether the accounts Of the agents are rem
dercd in accordance with the law and regula-
tions; whether any expenditures are made
without proper authority, and whether the
present system is such rs to show at all times
the condition Of the money and property af.
fairs at each agency The last quarterly re-
ports of agents are to be carefully scrutinized
for the purposes above stated, and particular
examination will be made as to number and
compensation of employees at each agency,
and whether they are given or are allowed to
purchase subsistence or clothing in violation
of law. The board are also instructed to
make an examination as to the character and
total money value Of special purchases for any
agency, during the present fiscal year, and
whether such purchases have been properly
accounted for. The board are not to be linn
tied by these specific instructions, but are to
make such further investigation as may be
deemed proper and for the best interests Of
the service, and are authorized to call upon
any of the officers or employees of the bureau
for such information and assistance as may be
necessary.
Republican Demonstrations In France.
AT meeting of the Presidents of three
sections Of the Left, remarkable moderation
was shown and decision arrived at that NJ
Gambetta, at the reopening of the Chamber,
should move IN Interpolation on the part of
the Left, but that contrary to the opinion of
M. Gambetta himself and NJ. Theirs, he should
refrain from arraigning the action of President
Mcmahon, whose responsibility should be
fully admitted. 1t was also decided that the
address in reply to McMahon's message should
be moderate IN form, though decided in sub
stance, and that if overturcs should be made
to the majority with view to ministerial
changes, they should not be rejected without
consideration, although it would be necessary
to insist upon the retirement of NJ Fourtou
1t was finally decided that the question of
sanctioning the budget should be left to the
budget committee. A majority of the meet
ing appeared to be of the opinion that nothing
should be done to render dissolution inevitable.
1t was admitted that NJ. Fourtou's resolution
relative to hawking licenses rendered many
circumspcct Republican newspapers more
lukcwarm in their utterances, and that to give
the Republican canvassing the significance Of
hostility to Mcmahon would lose number of
votes.
4 The Caston, Commission i'm ". n.
The commission appointed to investi-
gate into custom house affairs met and exam
incd the first witness, Mr.. Miller, the owner of
bonded warehouse at II and "a South street,
and 81 and 80 Pearl street. He said Superin-
tendent Russell Of the warehouse department.
was Tor the purpose Of collecting subscriptions
Tor political purposes. He never knew him to
visit stores for the purpose Of making an cx-
animation OF warehouses. Have paid sub
scrlptions for political purposes six times; re.
celved no benefits for such subscriptions He
also said he was satisfied that millions of dol
lars have been abstracted from the treasury
through means of damage allowance. The law
IN that respect ought to be amended, and a
more careful examination should be made by
honest and competent appraisers, and good
salary paid them and they should be placed
above the temptation to accept gratitudes.
SAFE B0rglAFy.
The County Treasurer's Office at Gale
donia, Houston County, Mimi, was entered by
burglars on the night of the 4th inst and
powder and tools used to rood advantare m