The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-04-15

posED-MR. sHERMAN'S SUCCESS WITH TIL
sYNDIcATE-AID FOR DIsMAL-swAMP ca
NAL--A MONUMENT. TO JEFrERsON-AN AT
TACK on vIRGINIA-THE CLAY F0RGERIEs- :
PERSONAL.
IFrom Our Regular Correspondent
| WASHINGTON, April l3.-There was t
have been Democratic senatorial caucu!
to-day, but as only about twenty senators
were present it was not held. Just now the
subject most discussed, as bearing on the
politics OF the near future, is f'The Ma
tional Party" which has already assumed
tmost formidable proportions in Ohio, Hi
nois, Indiana, West Virginia, New Jersey.
and New York. 1tf1iffers from the Green.
back party in that while the latter was in.
tended only to advocate greenbacks as the
national currency, the National party
goes great deal. further, and wants
not only an immense issue OF paper
money, but it wants the Government
to erect public buildings and aid public i'm.
provements, so as to make money plentiful
and give employment to the masses. Not
only are Democratic senator's and repre-
sentativeS daily making inquiry rs to its
plans and probable bearing upon coming
elections, bat they acknowledge that it has
brought into politics question Of great
magnitude. The Republican members OF
Congress, too, are watching it with equal
anxiety. Your correspondent sends this
after an interview with Democratic senators
who are fully posted as to the political situa-
ton.
HIGHLY IMPORTANT FINANCIAL LEGISLATION
PROPOSED
In my dispatch last night stated that the
Senate Committee on Finance will on Tues
day next take ground in favor OF stopping
contraction and for making legal-tender
notes receivable for public dues after July
1st. The committee will go further even
than this, and will favor the sale OF four
percent. bonds for legal tenders at par, and
for the reissue OF legal tenders in exchange
for gold after resumption. The committee,
I am assured, will also agree to report in
favor of repeating the clause OF the resump-
ton act which requires. the Secretary OF
the Treasury when he issues national
bank notes to banks to retire legal tenders
to the extent of eighty per cent. OF the
amount so issued. This brings the commit
tee within Misunderstanding distance Of Mr..
Sherman, and it seems quite certain that a
bill embracing the features named will
eventually pass the Senate. 1t will give
rise to lengthy debate in both houses,
and protract the session. Nothing more
important has been proposed. The differ
ence between the friends Of the resumption
act is very marked. One set contends that
it is intended as passed by the House to be
mere redemption act, and that when
legal tender is redeemed it should be de-
stroyed, and not reissued. The other set,
including Secretary Sherman, believe that
it authorizes resumption and relssue-that
| is, when legal-tender note is received at
the Treasury and gold given for it that it
| can again be paid out.
MR.. sHERMAN's SUCCESS IN NEW YORK.
Mr. Sherman's success in New York in
getting the syndicate, which embraces the
Rothschilds and other leading European
and American bankers, to agree to take fifty
millions of the 45-per-cent. bonds is talked
about again tonight, and is regarded as
great financial achievement. 1t will help
resumption, because it makes it to the in
terest OF the Rothschilds & Co. to keep gold
on this side OF the ocean for the purchase OF
these bonds. Then it will help the sale OF
| American bonds in Europe.
GOOD NEWS FOR DIsMAL-sWAMP CANAL.
The House Committee on Railways an0
Canals to-day agreed upon a bill by which
the Government is to guarantee the interest
on 100000 for forty years in aid OF the
Dismal-Swamp canal. The bill also pro-
vides that the Government may at its op,
ton become the owner Of said canal upon
terms to be agreed upon by a board OF three
| engineers-two to be appointed by the Gov.
ernment and one by the canal company
Messrs. Goode OF Virginia and Yates OF
North Carolina appeared before the com.
mittee to-day and strongly advocated this
action. The zeal and intelligence OF Mr.
G. w. Newton, Of Norfolk, who has time
and again ably presented the claims OF this
Improvement upon the General Govern
ment to the committee and subcommittee
and the efforts of the members named, have
brought about this favorable result.
THE PosT-oFFIcE APPROPRIATIONS BILL.
The House spent most OF to.day's session
in general debate in committee Of the whole
on the bill making appropriations for the
service Of the Post-Ofice Department fol
the fiscal year ending June 80, 1879, MI,
Blount, OF Georgia, having charge OF the
bill. 1t appropriates s3O,09O,a75, which is
S9S7,770 less than was appropriated for the
fiscal year ending June 80, 1873. The esti'
mates by the Department for 1879 amounted
to over $50, 100000, and this the committee
cut down S3,337, 1898. The compensation to
postmasterS is tie same rs at present-viz.,
S7,250,000.
The estimate for special agents and mail
depredations was S150,0O0, but the commit
tees bill cut it downto 100000. SO, 100,-
06O is appropriated for mails by railroads,
and S6,O9O,673 for inland mail transporta.
ton by Star and steamboat, &c. The appro.
priation for clerks in post-otices is S3,44O,.
600, and for ietter-carriers S1,S65,0O0.
MONUMENT TO JEFFERSON.
The House to-day voted $4,000 for O
| monument to Jefferson at Monticello. This
was proposed by Mr.. Cox, OF New York
and DIR. Hardenburg, Of New Jersey, who
saw the condition OF Jefferson's grave q few
days ago, urged the appropriation. Mr..