Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-04-17
WASHINGTON NOTES.
The Circular of the Secretary OF the
Treasury Offering Seductive In
ducements for Investments In
Four Per Cents-A Million
Dollars Stakeholder
Matters.

WASHINGTON, April 16.-The President
nominated Edwin w. Keightly as third au-
ditor of the treasury and James M. Melton
as collector of internal revenue collector for
the second district of Tennessee. Keightly
was a member of the last congress from
Michigan.
THE SECRETARY OF THE TREASURY OFFERS
INDUCEMENTS To INVEST IN FOUR PER
CENTS.
The following circular was issued this after
noon:
TREASURY DEPARTMENT.
SECRETART's OFFICE, WASHINGTON. ID. c..
April Is, 1879
OF one per cent above par and accrued Interest to
date OF subscriptions $4,000, 600 of the four
following denominations: Coupon bonds of $50,
S100I $500 and $1,000, and registered bonds Of
proceeds 20 bs applied to the redemption OF United
States bonds issued under the act of March B. 1854,
to this amount S44. 566. 300 OF these bonds being
residue of the sum needed to redeem the 1910
refundIng certificates. The bonds offered are re-
deemable July 1, 1907, and bear interest payable
October o: each year-and are exempt from pay
ment or taxes or duties to the United States we'll
municipal or local authority. Commissions will be
allowed on all subscriptions of one tn usand dollars
by the department by draft upon receipt OF full pay
ment The bonds will be transmitted free of charge to
and denominations required, and for registered
bonds the full name and postoflce address OF the
All national banks upon complying with section
5143 revised statutes of the United States, are
again invited to become financial agents and deposit
tories Of public money received on the sale Of these
bonds. All banks, bankers. postmasters and other
aid In placing these bonds. They can make theIr
arrangements through national banks for DE de.
posltoIy banks on account Of subscriptions will re
main on deposit with said banks subject to the
n ha reaS IN m
calls for the redemption OF ten-forty bonds. which
will be issued from time to time. as the secretary
of the United States at washiI gton. or to the
cScaso Cincinnati New Orleans New
York, Philadelphia, ST. Louis and san Francisco,
States notes The secretary Of the treasury viii also
accept In payment called bonds, certificates OF de-
ceiVe deposits on this account but the bonds viii
net be delivered III til the certificate has been paid
amount with the treasurer or some assistant or Unit
ed States bonds are substituted la their stead. The
treasury OF me United states VIII also eeseg! m pay
days, or draft In favor OF himself drawn on New
returned by check The secretary Will also exchange
for any out landing ten-torty bonds OF the United
States an equal amount OF f0nT per cent bonds 10
such this department will pay TO thu holder OF
said ten-for;es the interest accrued and premium
OF one-ha1 ol one per cent The ten-dollar refund
de- TO the treasury Of the United States at Washing,
ton into an equal amount of the four per cent bonds
herein described but premium of one half of one
per ceLt VIII be required on all such refunding
tlfcates issued on the certificate of national bank
/ depository. All blanks or forms, or information
needed, will be furnished by the department without
| cost. JOHN SHERMAN, Secretary.
! A MILLION DOLLARS SAVED,
| If the four per cents are disposed Of as
| rapidly as desirable upon the new terms Sec
| rotary Sherman will ave in the sale OF the
one hundred and Fifty million dollars worth
more than one million dollars to the govern
ment, which will largely compensate for the
| double interest which he is compelled to pay
| under the law during the three months
| which the calls run. Under the new ar
rangement the holdors of uncalled ten forlies
will receive in exchange their bonds at
par, four per cent bonds at ninety nine three
eighth cents. The ten dollar certificates will
| still be sold at par In exchange for lawful
money by the treasurer and assistant-treasu-
rer and postmaster general, who have been
| designated for that purpose, and d commits
| sion of one-eighth of one per cent will be
| allowed without respect to the amount sold
in any given period.
THE sPoFFoRD KELLOGG CONTEST.
The senate committee on privileges and
electors oday commenced hearing argu-
| ment in the Spofford Kellogg case upon the
question whether or not the action of the
senate hitherto has made the controversy res
| .judicGtG.
RUSHING IN PETITIONS.
Members of the house continued filing Pc
| titions to-day accompanied by bills of all de-
| scriptions for the purpose of having them re-
| ferred to the appropriate committees, in
order to secure their consideration during
| the present congress. There were no fnan-
cal measures placed in the petition box to-
| day.
SILVER BULLION.
The treasury department for the last two
months has not purchased as much silver
| bullion as usual, because the amount of bull
| lion on hand was In excess of the FIVE million
limit fixed by the act of February %, 1878,
providing for the coinage of the standard
silver dollar Added to the amount on hand
at the passage of the act, the excess had
| gradually accumulated, and purchases were
made at very favorable rates, but it was
| deemed best to reduce the amount by coin
age to the limit fixed by law, which has been
done. Hereafter purchases will be made
more freely from the silver producing regions.
The only purchase of silver bullion made by
the treasury to-day was twenty thousand
ounces for the San Francisco mint.
| REDUCTION OF PAY IN THE RAILWAY POSTAL
SERVICE.
The general superin tendent of the railway
postal service has found it necessary to make
a reduction in the pay of all route agents. IN
| order IN come within the limit of the annro-