, 1877-06-09
The Cabinet Considers the Mexican Pro.
teat Against the Recent
Army Order.
Diaz's Government Promises 10 Make
An Effort.
President Hayes Sentiments
Toward the Colored Men.
A Formal Order to Give Heslur a Now
Trial
TEE TREASURY.

| 8peefoi DttpdteA to ne 7starrA.
WASHINGTON, u. G.. June h.-Bceertary Bher.
man has bcon advised that Under tho financial
legislation sncc tho War there arc at lonst dpzuu
methods By which he can hold or lock up legal.
tenders without destroying them. OF thcso meth.
ous t~o only hAvc bean gcncrafy discussed In tho
public consideration OF Shorn,an's financial policy
uhc 10 tho 20 per cont cancellation clause, nppca.
olc 10 the Retirement Of bank circulation.
The other Is the boarding Of grccnbacks purchased
with gold derived from the eato of bonls
OHa OF the most Important discoveries ID l5avInp
possible bcarEug upon tho policy Of tho Treasury
department, IL that legal can bc used faf
The purposes Of
1rs srvKiNa rtHp.
An examination OF the Sinking. Eund act sbovs
that the language Of It docs not necessarily .cuptre
that money set apart for that fund shall 10 dGvot.
cd to the redemption Of the bonded lcbt Of the
Government The law refers to obligations Of sba
United states, which Of courso include non inter
cst.boaring lcga1.tendcra. 1t ls claimed That tho
s'50' COO 600 Of the Sinking Fund can annually be
locked mp In legal tenders and retired without DOW.
q TO reissue In tho items Of the Sinking. Fund
and fractional Currency laws as, ooo eco Of
lcga-tenders cap b. sctirsd annually without now.
ct to reissue except By special legislation There
10 no authority for saJlng that Secretary Sherman
cohtamplatcs such construction Of ths Law, but II
~ csFain that some Of thoss who aru The most esr.
nest advocates OF tho present policy Of Tho Depart.
msnt hsyo bean active In bringing this theory of
re law to tha attention Of the TsaaaurY author,.
tss II u also stated BY persons who should know
991, 1,00o, ,000 or LEuAicrENpYns
n varioas funds, white ~ debt.siatement ac-
SIX a: xs sh,
man has Issued no dcdnito oFieF fofbldjtn1 tbs
paymcnt Of one and two dollar notcs, shat tho
sS'i ss esse pseesea Sappia sns @
whieh 70 them amount to practical prohibition OF
Il ts prc,on. policy Tie svident intepsion III III aI ot
thl' Is to force 4pesay Sgw ls,as not1 Of silver
:. 0no National Bank In New York. Of large ctrcu.
htlon. has shrSe times within few weeks gone
i hss delivered IL efeuson ope Say and
~ bonds The next day It has presented lts bonds.
.s1 s.s s.sa e ss + s
rsr M cent Of tho amonnt In grsenbacks. The opos.
AZ ntaons were % very considerable seale.-Sl, Co.,,
Induce other banks 10 join In such effort 10 n,ako
legal.tenleFa scarce. :" A'&A~o
ri!H Low-1xTznxsr BONDS.
Appointment member OF tho Syndicate haa re.
Gently discovered that tho and III pei cent bonds
upon tas!t tee :how that they ~ fesicemahle IN
soa5s VII - y o Tno st s.e
silver he tnea stss The.e 'ns %osSa sSa .Ps q
R;!ntsa In ths contract upon 'he faes u ths Ioad.
bon. won. ithsf ss.aiioa IL sSo ssel ~ teeno eea
A. tlat law, however, IL now repealed. new issfs:
iaton would he rsquiste TO coin The dollar Of the
standssa existing nj tho time the law Of 1876 was
Secretary Sherman to al who call upon him says;
~ aua simply carrying out an act OF congress, and
Ing the tme azcd BY tho Resumption act sos rs.
s I e n s: e
EtFo any publicity to hia lp{cnded ,ncthoi