The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1878-11-08

Secretary declares that local legislation of this
sort might annul the provisions Of the treaty,
which could not be permitted He claims
that the fishery rights are wholly free
from the restraints of local statutes
He asks frank avowal or disavowal
by the British Government of the para
mount authority of provincial legislation, pref
acing that no arrangement involving such au-
thorty has ever been consented by the Gov
eminent, nor even would have been. Mr..
Evarts plainly hints that nothing will be done
by our Government towards paying the Halifax
fishery award until this question of the New
foundland outrage is settled, and there is
chance for first-cass diplomatic row, with its
attendant excitements, unless the British Gov
eminent is willing to recede at once from its
position.
A Washington dispatch states that a
test of the validity of the Pacific Railroad Fund
ing law passed at the last session of Congress
is soon to be had. The refusal of the Central
Pacific to submit its books for inspection con-
stitutes a violation of the law subjecting the
company to fine of from 81 900 to $1,000 and
proceedings will be at once instituted by the
Government Auditor of Railroad Accounts.
The following letter in regard to the
condition of the treasury for specie resumption
has been addressed by the Secretary of the
Treasury to Leroy H. Dodd, of Buchanan,
! Mich:
! SIR am in receipt of your letter OF the 18th
inst making certain inquiries as to the condition
of the treasury for resumption, and the amount of
| 10. anHfI Ia
principal countries of Europe. In reply have to
inform you that on the 1st inst the coin balance of
the treasury was 1922 $50, GIG. The entire amount,
however, was not available for resumption pur-
poses, but subject to liabilities, as follows:
Interest due and unpaid .......' ....$ 9,345, 2Ss
Debt which interest has ceased 49,. 12,52i 900
Interest thereon. ........, ............. 3i3,oo1
Coin certificates gold. 81 600
Coin certificates silver. ................ l,S4SOW
! Unclaimed interest ACKNOWLEDGEMENTS. 9,541
Unmatured bonds called for resumption 4l,5OO,OOO
Total OBSERVATION-DISCLOSURES. 5o,lSi, iol
Leaving for resumption purposes. l$4,23l $50
The coin receipts into the treasury will probably
exceed by a considerable amount the coin payments
between and Jan. 1, 1879, that at least the
above balance will then be available for resump-
ton purposes. 1t should also be borne in mind
that meanwhile there is no probability of the en-
tire coin liabilities being presented for payment.
AS to the paper circulation of European coun-
tries this department has no information except
what can be obtained from publications open
TO all. The London Economist of Sept. II,
1878, the latest at hand states the amount of the
paper circulation of the banks of England, less
! the amount retained in the banking department
OF the Bank of England, to be e43,966Y1 sterling;
the circulation of the Bank OF France, which alone
] in France has authority to issue notes. to be on
Sept. e9i, 600. and that of the Imperial Bank
of Germany, on Sept Z, $50 415,OO0. 1t is under
stood that country banks of Germany have
authority under certain restrictions 10 issue notes
but. as the amount issued is not stated in financial
publications, it is believed to be nconsiderable
Reducing these amounts to the currency of this
country, the per capita of circulation appears to be
| as follows: