The Republican. [volume] (Oakland, Md.) 1877-current, 1878-06-08
OUR WASHINGTON LETTER.
Especial Correspondence to The Republican

traction of the currency, (the Senate
having concurred in the previous ac-
ton of the House, will be that so
per cent of the additional National
Bank currency, issued during May,
being 81 SOC, 400, instead of being re-
tired by the Treasury Department,
will be allowed to remain in circula-
tion. This amount is about the ay-
erage sum retired each month by the
Treasury under the law. Its being
outstanding will interfere but Slight
ly with the resumption of specie
payments. This monthly retirement
Of legal tenders was calculated upon
by Secretary Sherman as so much
aid to resumption. The disposition
Of L. S. bonds by the Secretary for
gold and the accumulation of the
gold realized thereby, for resumption
purposes has not, however, been in
terfered with. The prospect of re-
sumption is not lessened by this leg
islation, especially as this bill is
tacitly understood on all sides to be
the last measure affecting the final
res to be framed during the present
session Of Congress. The President
will undoubtedly sign the bill"
The dispatches coming to US from
the West this morning will probably
confirm the Senate in its opposition
to the bill reducing the Army to
10000 men and the Conference COM
mittee, or committees, to be entrus-
ted with the work of harmOnizing
the conflict Of opinion between the
two Houses of Congress on that mat
ter, have most unpromising job in
prospect. 1t appears certain that the
Bannocks, heretofore the faithful
allies of the whites, are now on the
war path, having burned the bridges
in their rear and it also seems more
than probable that the Government
has another war with Sitting Ball
on its hands. Opinion here seems to
be that the Bannock's have been ag-
gravated and eXasperated into their
hostility TO the Government by the
bare-faced sWindling and cheating
practiced on them by some of its
Agents. At least such is the COM
plant made by that band. Dis
patches that seem authentic, allege
that Sitting Bulls Sioux braves will
be reinforced by many ArapahOes
and Cheyenne warriors, besides large
numbers of discontinued Indians
from other tribes. In short the pros
pect for another savage outbreak of
uncertain dimensions but formidable
enough considering our helpless con-
dition, is first-claSs. Those contend
ing for a reduction of the Army are
already heard disclaiming against
the sender of these dispatches as the
tool of those opposing such meas
ure. But the feeling of anxiety
about the War Department is
proof that such an eXplana-
ton is not entertained there.
And the opposition in and out of
Congress seems to have been greatly
strengthened by the tenor of advices
received during the past y hours.
Among the many jobs before Con-
gress which must suffer by an early
adjournment, is that for substituting
Scott'S Texas Pacific railroad. For
the 40 miles of road to be built at
an estimated cost Of $3l 100000 the
Government is asked to endorse com
pany's 80 year per cent bonds to the
tune of 5000 600 and deliver to it
the S3l 900, 900 the road is to cost i.
AS security it is substantially pro-
posed that the Government shall re-
tain all that is due the road for trans
portation of mails, troops, supplies,
ETC., belonging to or sent over it by
Government. Second, should that
amount not wholly reimburse the
Government, it is to take the balance
out. of the 7,000,0 900 worth Of bonds
it holds and whose value depends
wholly on the creditors endorsement,
guaranteeing their payment. Should
the Government accede to this novel
proposition to pay itself by taking
its own notes, it will be stuck for
interest amounting to almost $1,000
900 annually, or for an aggregate of
about 500 100000, besides a contin-
gent liability for S3S, 900, 200, the face
value of the bonds endorsed. The
only source from which it can be pad
is in the transportation it may require
over the road.
After several unimportant meet
ings of the Potter Committee, it got
to work Saturday, having first before
il Anderson, the much advertised
witness who was to floor Secretary
Sherman. He anderson came con.
fidently forward and told his story
with a glibness that indicated careful
training, But he overdid the matter ;