Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1881-05-06
WASHINGTON LETTER.
[rrom our regular Correspondent

WASHINGTON LETTER.
From our regular Correspondent
WASHINGTON. d. G., May 2, 'Sl.
The policy of obstruction so natural to
the old Bourbons in Congress is still in
practice in the Senate to prevent proceed.
ing will, the regular business OF that body.
Obstruction is the only vital principle left
to the once respectable Democratic party,
and II is the only policy upon winch its
representatives have acted nnitedly and
p,rsstently for some years. Much as the
Republican Senators desire to act upon the
pending appointments waiting con6rma-
tion, they are unwilling to be bulldozed
into surrendering the right Of n majority
to rule. 1t Is not customary for the Re
publicans in Congress to surrender and
they will not do so now. Whatever plan
they may adopt to secure action upon GER
tsin nominations, the fight against bour
bonism will not be abandoned.
The correspondence received by the
Treasury Department relative TO the Sec
retarys financial departure is something
enormous. Notwithstanding the very ex-
plicit circular issued by the department it
is evident the matter is not clearly under.
stood, and that considerable misapprehen-
sion exists among the people at large. OF
the Sl95, 100000 of six per cents, which
mature on the 1st of July next, about
S70000,O00 are coupon bonds, and the re-
mainder are registered bonds. The new
3! per cents. to be issued III exchange for
these skies will all le registered bonds, for
the reason that it cannot be foreseen how
long the bonds will run. Congress may at
the next session make some,pro vision other
than that adopted by the Secretary. Upto
this time it is understood that the amount
of the skies which the holders have noti.
lied the department of their desire TO ex-
change for 81 per cents. is less than S20,.
900 900. but little ii any doubt is enter
tanned Mt the department that almost il
not quite the entire Issue will be presented
for exchange. The letters which come
from the National banks all over the coun.
try indicate this. The Secretary of the
Treasury would he quite ms we'll satisfied
If the holders OF fifteen or twenty millions
or even more OF these bonds should prefer
to send them in for redemption, as it is con-
sidered certain that the surplus revenues
would be amply sufficient to pay off that
proportion OF them.
A Boston gentleman who holds over
81 600, 900 OF the skies wrote To the Secre
tary that he would be very glad to ex-
change them for 81 per cents, but he did
not want to pay the express charges for
sending and returning his bonds. He sub
mitted calculation which lie had made
showing that the express charges TO the
holders of the skies, il the whole issue
should be sent in for exchange, would ag-
gregate over one million dollars, and he
protested that this was too heavy an ex-
| m, ha a. II
position taken by the department is that
the option afforded TO the holders of the
skies of 1881 is in!the direction oil economy
and reduction OF expenditures. No one il
Obliged to accept the offer, and no persua.
sions whatever are used to induce the nc.
ceptance. If the entire issue OF Sl95, 900.
600 should be presented by the holders and
payment demanded, the Secretary would
be amply able by the sale of the remain
ing Az per cents, not issned and the Use o
the surplus revenues to meet the demand
The two Treasury officials detached TO es
tab!ish an agency in London for the bere
fit of the European holders of the sixe.
will snil this week and begin operation,
Immediately upon their arrival It's es
timated that from twenty TO thirty million
dollars of the bonds are in the hands .
OF foreign holders. Whether any consider
able portion OF the owners of the bond
abroad will be willing to accept 81 ne
cent, interest is not yet determined. TO
with the exception of the British Consul
the average rate of interest pnid by tn,
Governments OF Europe Oh their loans ex
ceeds per cent.
We have just had another installmen
OF that phenomenal weather for whicI
Washington is becoming Justly celebrated
The Spring has been late-late and cold
with Winter lingering in her lap in th
most reckless manner. THIS week, howey
er, we have had touch Of Mid-Sum
mer, with the thermometer IA high as s.
degrees A jump from 0 TO 81 is alit
enough in the way OF n change for April
One OF our local Vennors has issue
the following bulletin for tn
current period "An area of sore.throa
and cold feet will pervade the Lake regio
and include some Of the Middle Atlnnti
States. listers will be felt rs far south n
indianapolis and Indications OF slight ysi
iations OF umbrella and overshoes preya,
through vast belt including the Middl
States and Pittsbnrg. For the Middle Al
lnnlic States, including Washington, sligl
overcoat with occasional straw hat ligl
easterly and southwesterly Spring bonn,
shifting TO seal shin sacque." These prog
nostications are quite as compreheilsiv
and more reliable than any that will com
from our National Weather Bureau.
The sensation here for some DAYS pai
has been the Postoflice or star route
developments, or at least the supposed d,
velopments. just what the extent OF III
alleged frauds will prove TO be, or VINO III
. parties implicated, cannot be deinitel
stated, az 10 specific charges have bee
/, made and no definite information give
out by the Postoiice officials. 1t is doub
: less true, however, that some crookedne
| has been uneartlIed, and that the matter
still under investigation. Ii is also irt
that Second Assistant Posimaster- tiener,
Brady resigned nj the request Of his supe
: iors and il is generally understood ili
| his request was ~ consequence oil certai
developments, concerning which we sha
know more hereafter. Mr.. Brady and h
friends deny that there is anything wron
Il and the WasliDgion newspapers are abOl
n all ON his side Those who pretend
know something about il, however, asse
y that over S2000,000 has been divide
e among ring OF contractors aud their col
y federaies in the department. The annu
}. appropriation lOrtIle postal service is ab0l
S6,000,O00, and for the last Two years the
: has been n deficiency Of $2,000,0O0 add
> tional. II ~ said 10 be the view Of the ne
!. Postmaster General that the deparime
- properly and honestly inonaged should
self-suslaining. But be The case what
may, Democratic newspapers had belt
y handle the matter rather gingery, for II
o not Republican affair. The carcasses