Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-12-08
SlIsRMANS CHANCES.

Special Telegram TO the Globe.
WASHINGTON, Dec. Cen. Hurlbut, of lii
moi, who is here in the interest of securing the
convention st Chicago, thinks Chicago stands
the trst chance of being chosen. The claims
Of Philadelphia. and of half dozen other
cities East and West, will of course be urged.
TIE Cameron interest will favor Philadelphia,
but this fact does not necessarily point Grant.
ward. Gen. Hurbut thin ks that this would
indie ,te preference for Sherman, If it has
any political Significance. He believes, how
ever, that Sherman is the weakest candidate
Ehosa name has been mentioned in that con-
ncction. In his zeal to make himself strong in
the East he has alicnated in large measure
the West and if the election were held in Ohio
to-day, and John Sherman were candidate,
Hurlbut thinks he would be defeat
ed. Gen. Grant, he believes, desires
sincerely to enter the race. Hon.
Morton G. Hunter, an ex member of Congress
from Indiana, and stalwart Rebublic saws
MIR. Sherman has hurt himself very much in
the west. Mr.. Hunter has hopes of the ability
of the Republican party to carry Indiana at the
next election. The negro exodus from North
Carolina into that State, he regards as not hay
ing the slightest political bearing, though it
may result eventually in Al increase of the
Republican vote to very considerable extent.
He estimates the number of voters in popua.
ton at about O,0C0 at pre.ent and more COM
ing every day.
BANK RESERV. BILL.
The treasury people say that more careful
examination of the bank reserve bill as it has
been published by the banking and currency
committee of the Hou.c show that it contains
features which were overlooked in the first
reading Of it, In the first place the bill re-
quires banks to hold reserve on circulation as
we'll as on deposits, requirement that has ex-
listed In the law siuce Juno 20, 1870. The effect
of this provision would be to increase the ag-
gregnte reserve required to be held in banks by
about S53. 900 900, and far as that is COM
prised of legal tender notes or of
notes withdrawn from the government, on
deposit of legal tender notes, it will be con-
traction of currency. Secondly, if it should be-
como law, 1t would require all country banks
to keep one half of all their reserves in cash
coin in their vaults, while now they are requir-
ed to keep only two-hfths of their reserves,
and one half would be in circulation and de-
posits, while now it is only on deposits alone.
Thirdly. Now York City banks are now allowed
to count Clearing House certificates and de-
posits in other banks part of their reserves.
Tho Buckner bill would require one half of
the increased reserves to consist entirely of
cash com. In other reserve cities one half of
the reserves of banks must now be kept at
home, and commissioners bill would require
one half of that to consist of cash coin, while
at present part may be Clearing House
certificates and the balance in other banks.
The effect of these features would be to cause
sharp contraction of currency, and to cause
to be accumulated in the treasury largo
amounts of greenbacks in place of bullion now
held.
RAHDALLs VIEWS
Speaker Randall when asked what he thought
of the prospects of the present session, whether
1t would be long or short, said it is likely to be
ashort one, that it ought to be concluded GER
tainly by the LIST of May, and the policy should
be not to disturb the currency but let we'll
enough alone, 80 that the present prosperity
may have Il free, unrcstrained and natural
course.
eff Mr.. Bayard's resolution should pass the
Senate, is it likely to go through the House?"
In my Judgment it is not. The meeting of
the banking and currency committee developed
the fact that there were only three members of
that Committee in favor of it. Lounsbery, of
New York. Chittenden, of New York, and
Grape, of Massachusctts.'
There has been q good deal of talk in tho
newspapers and elsewhere concerning your atti-
tude towards Mr.. Tiden. Are You willing to
make any public declaration on that point?''
Il am in favor of Tilden. 1 think there
ought to be reconciliation in New York, and if
there Ia he ought to be nominated"
CAPT. DODGE.
Secretary McOrary has found way for
loWaIuinS uuo uelolC COuuuCt OIL OapC. DOugo OF
the Ninth cavalry, who with his company of
colored soldiers CALAMITY rescued Capt. PAYNE
few weeks ago, when beleagured by the In
dians after ThOrnburgh's death. Col Prentice
of the pay corps has been relieved and Capt.
Dodge will be promoted to major and pay
master.
LEAVE EXTENDED.
Extension of leave of absence on account of
sickness has been granted Post Chaplain E. B.
Cutler, U. s. army. Leave of absence was
granted him Oct. 80, 1873, on account of sick.
ness. 1t is further extended one year.
THE UTE ULTIMATUM.
WASHINGTON, Dec. 7.-Secretary Schurz re-
ceived tho following dispatch this evening:
Los Pinos. Dec. 6 -Olosed testimony yester-
day and demanded the surrender of the parties
recognized at the massacre. The list includes
the head chief Douglas. The Indians went
into council last night, and are still IN council
They will answer tomorrow. The present in
dications are that they will accept the ulti-
matum, the surrender of the guilty The In
dians consider death incidental to surrender
and trial. The struggle among themselves has
assumed serious proportions. The influence 40
far ia in favor of surrender. trifle, however,
may change this at any moment. (Signed)
HATCH, Commissioned"
Secretary Sehurz, in response to an inquiry,
stated that he felt quite sanguine he would re.
ceive Intelligence tomorrow that the Indians
had yielded to the pressure and determined to
accept the conditions imposed by the depart