Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1878-03-20

cabinet tomorrow It's probable that
Chadwick only will be reappointed.
J. F. Wilson is not a candidate for re-
appointment. G. B. Smyth Of Iowa,
will be his successor.
SECRETARY SHERMAN ON SILVER.
An associated press dispatch from
Washington under date Of March 18th
says Secretary Sherman was before the
Committee on Coinage. Weights, and
Measures this morning, and gave his
views about the proposed measure for
issuing certificates Of deposits Of silver
bullion. In this connection the ques-
ton was discussed as to whether such
certificates should merely represent the
bullion at its market value, or whether
the government should buy bullion
with the certificates. The secretary
said the silver certificates issued to
depositors of silver bullion were to be
based on the actual market value of
the silver on the day of deposit, based
upon the London and New York quot
ations of that day. If they were to be
based on the coinage value Of bullion
they never would be presented for re-
demption until silver was worth
titty-nlne cents per ounce.
The secretary favored the
issue of these silver certificates and the
receipt of bullion on deposit for them
at but one point, and that New York,
as the great silver market of the coun-
try. He seemed to think that if depos-
its were allowed to be made at San
Francisco and Carson City bullionists
would not sell silver, but would endeav-
or to corner the government, as they
would have use of the certificates while
they were still reserving their silver.
This could not so well be done in New
York. with its supplies coming from
Europe, Mexico, and this country. To
the question as to the cost Of doubling
the capacity Of the minis, he replied in
substance that the question was one
more of delay than cost, and more of
the supply Of bullion than the capacity
of the minis. The secretary gave it as
his opinion that, under legislation as it
stands, from 100000 to 100000
silver dollars can be put in circula-
ton and kept at par with
gold. He favored the dis
continuance of trade-dollar coinage as
apt to be source OF embarrassment.
silver, and favored the abolition of the
20-cent silver coin as one whose only
convenience was in paying for 1O-cent
drinks. He suggested the restriction
of the legal tender quality of the sub
sidiary silver coin to SO, and the re-
demption of it in legaltender coin,
when presented at sub-treasuries, in
sums of 500. 1t seemed to be con-
coded that the certificates should be
issued, but the committee came to no
conclusions as to details.
DR.. Linderman gave information
concerning the facilities for coming the
new silver dollar, and said that to
double the present capacity would re-
Quire three additional mints, or two
more in addition to that at New Or
leans. With these s. 100000 or Sc ,OOO,-
600 a. month could be coined. At pre-
sent, making allowances for Interrupt
tons, $2,5OO,OOO could be coined in a
month This would make S3O,OOO,OOO
year The New Orleans mint could
be placed in working condition at a
cost of $4,000 or $4,000. so as to coin
a 81, 900, 900 month. This, added to
the coinage Of the other minis, would
make $40, 600, 900 a year.
NOMINATIONS.
Associated press dispatches from
Washington under date of March
18th, state that the president has
nominated John w. Hoyt, of Wis
consin, governor of Wyoming Terri
tory; |. Lord, collector of customs,
Saco, Maine; Daniel F. Kelley, of Penn
sylvania, chief engineer in the revenue
marine service; post masters, Chas. III
II. Prunce, Augusta, Georgia; and VIM
L. Roche, Plaugue Mine, louisiana.
R. NJ. Reynolds, formerly collector at
Mobile, will be nominated first auditor
of the treasury in place Of Hon. David
Mahon resigned.
THOSE SILVER DOLLARS.
The director Of the mint to-day
learned by telegraph from the Phila-
delphia mint, that the superintendent
expects to receive from the coiner the
first delivery of new silver dollars
Wednesday; that a supply Of dies fol
the same coin will be ready to forward
to San Francisco and Carson by Tues
day or w edneSQay next.
CONGRESS REGULATING RAILROADS.
A Washington dispatch Of the 18th
inst. says that during this and previou;
congresses the subject Of the regulation
Of interstate commerce has received
considerable attention, and numerous
bills have been introduced, which the
committee on commerce have ha(
under consideration for three months
They have prepared a bill embodyins
the best points and provisions in al
measures on this subject referred tt
them, which they have reported tt
the house with unanimous recon-
mendation for its passage.
The first three sections prohibited an,
railroad company from charging an,
greater or less rates Of freights from an,
one corporation, company, person, thai
another, and compels them t.
furnish equally good, cheap an
expeditions facilities for carriage Q
all property or merchandise entitled t.
be carried, to every applicant. 1t pre-