Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1877-06-27
Our Washington Letter.
WASHINGTON, June l!

Financial matters continue to absorb
most attention and promise to hold the
field until Congress convenes. in Octo-
Der. Statements of the Presidents
position vary with the preposessions Of
the authority whence derived. It is,
however, admitted by all that his views
have under2 one radical changes since
he has devoted more time to their con.
slderation. He has undoubtedly come
to regard the reconciliation Of silver
to some extent with favor, but still
holds to the prime necessity of re-
sumption at the time designated; and
he is reported to favor suspension of
further payments on the public debt,
for the present, holding that all our
energies and resources should be di-
reced to compliance with the terms
of the resumption act.
Sec'y Sherman'S disposition as in
dicated by his official acts, is watched
with degree Of interest rarely aroused
by any Of his predecessors. Congrat-
ulations continue to pour in upon him
for his success with the new loan and
his able administration generally; but
the crucial period Of his incumbency
has hardly yet arrived, when be will
be looked to to pilot the business in
terests of a country great in the d.
versties of its industries through the
trying period of further contraction, a
condition precedent to resumption. no
matter when attempted; and if he
succeed in retaining the confidence of
those interests until that desideratum
shall have been accomplished and we
are in the calm waters beyond his po-
SESSION of the highest order Of ability
will have been demonstrated beyond
evil. Formal notice has been given by
the syndicate that it is prepared to re-
ceive subscriptions to the new loan, in
sums from $50 upwards. A large
popular response is anticipated, and it
is believed that it will have the effect
to materially lower the rate of loans for
ordinary business purposes. The Bu-
reau of Engraving and Printing enters
at once on the work Of preparing the
bonds. This necessitates a small H.
crease of the force; but to avoid an
overwhelming rush for reinstatement of
those recently discharged, notice is
given that all extra help required has
been secured and that there are no
vacancies requiring to be filled.
The State Department has been no.
tilted by Minister Maynard that among
the regulations recently adopted By the
Turkish Government likely to be Of
interest here, are the following: All
steamers will be denied ingress and
egress to and from the straits of the
Dardanelles and the Bosphorus during
the night. All lights in the light
houses Of the coasts of those waters are
liable to be extinguished by military
orders, save the two on the Black Sea
side at the entrance Of the Bosphorus,
and the two known as Yedee Bohr and
Koum-Kale, which are only to be dis
turbed in case of great emergency
The firing of cannon as signals in foggy
weather by ships is also prohibited.
The attorney General has decided that
there is authority to issue subsidiary
coin to replace fractional currency lost
or destroyed beyond the chance of be-
ing presented Tor REDEEM ption, to the
extent of $50, 100000, including the
fractional currency still in circulation,
which is to be determined by the
Treaury Department records and from
other sources of information pointed
out. By the same authority it has
been decided that a retired army or
navy officer can hold civil Office, and
legally receive the salary attached and
his retired pay as we'll, provided the
Office he fills is not an elective one nor
in the diplomatic or consular service.
The Tammany demonstrations last