New-York tribune., 1878-04-20
CURRENT TOPICS AT THE CAPITAL.
STUDYING RESUMPTION.


Messrs. Vermilve and Stewart, bankers, OF
New-York were examined by the House Committee on
Banking Currency to-day in regard to the practica-
bty Of resumption according to Secretary ShernanT
plans. Both Of them thought resumption perfectly
feasible on the lst of January, 1879 provided the bar
ance OF trade continues in our favor; but they
were not certain that it can be sustained
after that date in the event OF an adverse
balance. They also Of opinion that
considerable reduction In the volume OF outstanding
legal-te lders would be Indispensable TO permanent
specie payments. In answer to question from one OF
the mel Ibers OF the committee they said that there Is
no choice between National bank notes and lcgaten-
ders; performs the duties Of currency
equally as well as the other, and either is far
superior to the old system bank notes. They
believed that any currency system in the United
states include paper currency OF some KIND, ana
seemed TO think that the best currency 10 preserve Is
that of the National banks. The committee decided to
him TO communicate 10 the committee the terms OF is
contract with the Syndicate for the sale OF S5ooooooO
bonds.
FRENCH LONGINGS FOR A WIDER MARKET.
The Secretary of the Treasury has trans
mitted 20 the House of Representatives communication
from the Bordeaux Chamber Of Commerce. addressed 10
the President and Congress. They say that III peus-
ing the Tariff Bill they have been deeply impressed by
what the French wines, especially nj time
when to certain extent, The ideas OF free trade ana
public financial situation which has become very pros
perOus had induced them 10 hope that the United
States would gradually lower its Custom House duties
on the ferent articles Of importation. They think II
unnecessary TO recall 20 miud how much that lowering
of duties when effected with skill and prudence, tends
to uroduce happy results and how frequently IL has hap
peued that such reductions have had the threeold ad-
vantage of developing commerce. Of giving satisfaction
10 the consumers and at the same time OF Increasing the
income Of the public treasury consequence of the enor
nous increase of consumption. This they say, would b
pcaceiul means of contributing 10 the development ana
increase Of the commercial intercourse pe'"tch INC
United states and France.
JAPAN's GOOD GRACES SOUGHT.
The ,Japanesc Minister regards with much
,vc,v the fate o. the resolution recently offered by
Senator Sargent having in view treaty OF amty and
commerce with Corca, in Northeastern Asia, with pop
ulation of about l2,OOOOOO. Although Corca is trbu
tary to China Japan time ago recognized hernde
pendence. The trade Of Corea is almost wholly with
Iapap Intimate friendly relations exist between these
nations Therefore the good offices Of Japan could be
pterposed to effect such treaty Senator Sargent
coptcmplates. As a preliminary to such proceedings
and to induce Japan to take greater interest IN the
subject efforts will be made to have returned to Japan
Al 800 600 now in the United states Treasury known
as the japanese Indemnity Fund retaining small sum
only to compensate for actual loss TO American Gu
resulting from disturbances some years ago III ta
country
Mr. WILLIS on THE TARIFF.
Representative Willis, of New York. says that
his position in regard the Wood Tariff Bill was ncor
rectly stated in the report OF the late Democratic
caucus lie is in favor Of genuine revenue re-
FORM but is not IN favor Of the Wood ir
in its present shape. That bill he saws. continues
some OF the worst cruditics and absurdtcs OF the
present system and introduces others equally as bad
He is In favor Of early adjournment in order that
there shall be agitation OF financial Questions
and because he has hope OF passing any wise meas
ure OF tariH reform.