The Red Cloud chief., 1879-07-24
Our Washington Letter.

Washington d. c., July 10th 1879
In connection With the grand work
done by the Republican party in its
management of national finances, it is Of
importance to notice that the national
convention of men interested in kindred
subjects, aud competent to discus, them
aud instruct the public upon them, will
be held 10 Saratoga, N. Y. for three
days beginning August 9th. Besides the
Banks proper, the saving institutions
aud Trust Co.'S, of the country, will be
represented, and the discussions will
take a wide range, covering the indus
trial and commercial interests of the
whole country. Among other papers to
come before this body will be q report
upon the work done in Washington to
l.berate the banking business from many
unnecessary burdens. Addresses will be
given upon the obligations Of the coun-
try to the banks for the SUCCESS of re-
sumption, and for the saving effected by
the refunding Of the publib debt upon
our Clearing House system, and the
history and devclopement of banking in
the United States AMI abroad, and upon
other subjects illustrating the present
economic state and prospects of the "a
ton, the growth of wealth and produc
tive power, the influence Of sound bank
ing upon credits and productive wealth,
the methods and prisciples Of currency
reform, and the financial evils which
threaten the foundations Of banking
stability and thus injure the industry,
commerce and material progress of the
country. The discussions will also cover
the subj:cts of usury legislation and kin
dred topics. In short there will be able
and instructive addresses spou almost
every conceivable subject Of public con-
cer., and the meeting may have great
influence.
The poor democrats are receiving
many unansw cradle assaults in the way
of official reports from the Treasury.
The latest one is a memorandum Of the
financial operations Of the Govt, show
ing that the reduction in the interest
bearing debt from the highest point.
August 81, 1865. to July l, 1879,
amounted to $5S3. 500 .594.9 90 and the
reduction in the annusl interest charge
when the present funding operations are
completed august /, 1879, will be
So 1853 I9 81. The total debt has
been reduced s729,224.Sl5.O6 and the
reduction since March LIST 1877, is Sol,
~573,SS6.67. An elaborate statement Of
refundiog operations is made, showing
that the saving Of interest under Sec'y.
Sherman's policy since 1877 will be $i4,
OOO. 900 . year. What mere could the
democrats promise? In view Of their
proc!ivity for r~epudition in the South
the democrats have little chance for off,
setting this showing even With promises
which they are so ready to break.
Hon. W. f Chandler has been here
to look after the interests of the Con-
gressional Committee. He takes a hope
ful view of al the State campaigns and
anticipates easy victories. in Maine and
Ohio.
The democrats make great promises
relative to favoring Union soldiers offsi-
ally, but they are poor performers.
Whenever they can strike down . Grip
pied soldier they do ii. The latest ram
pie is that of F. +. Wilson, of N. Y.
who was an employe in the senate. He
was retained until adjournment and then
summarily dropped. His case is an ag
Gravated one. He was q faithful officer,
and il a cripple. having lost both legs at
Gettysburg. He is the kind Of hero the
Brigadicrs DON'T like. RIp.