Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1881-03-22

OPPOSITION TO THE EXTRA SESSION.
CHICAGO, March Dist - The TTjJune's
Washington special says The President has
certainly not yet decided on calling an extra
session. The opposition is much stronger
than he believed, and he is very anxious not
to make mistake in the matter. Robson,
Keller and others have represented to him
| that it would be unwise and impolitic They
say the entire amount of outstanding six per
| cents. can be paid before next December with
the surplus revenues and portion Of the
cash now in the Treasury, and that it would
be better to reduce the interest charge by re-
deemipg 5000, 900, 600 or even $4,000, 600 of
these high rate bonds, than to disturb bust
ness and put the country to the expense of an
extra session. The Treasury officials esti-
mate the surplus revenues for the ten months
of the calendar year at $780, 000,0 600, and
should this be realized without doubt the
Secretary of the Treasury could redeem and
cancel $50, 000,000 of the outstanding skies
before January 1st This saving would equal
what any measure passed by another session
would effect, and the Republican party would
never be held responsible for any imperfect
refunding bill, and would suffer no damage
in consequence. The Treasury officials have
made the following computation : The
Al per cent. bonds sold at a price slight
" more favorable for the Government
than that which could be realized for the As
and As are respectively 1l251 and 111.33.
Computations based upon these prices show
a rate of interest yield to the investor, if
carried to maturity, of 3 20 and $50 per
cent. per annum, respectively, and this shows
that apart from the disturbances of as short
an option of redeemability as possible, the A
per cents are slightly more advantageous
to the Government in point of annual inter-
est cost 1t is probable that 800, 100000 of
Al per cents could now be sold for III or
lib and accrued interest, at which price the
actual cost to the Government would be less
than 81 per cent per annum. In other
words, it would be equivalent to placing
loan at that rate.
The Republicans threaten to retaliate on
the Democrats who refuse to allow them to
elect officers of the Senate by having the
Democrats in the Departments summarily
removed.
{ CONDITION OF SENATOR DAVIS.
WASHINGTON, March 21st.-David Davis
is said by intimate friends to be in more
feeble state of health than for years. 1t is
known that he is uncomfortable on account
of his peculiar political condition, and some
friends say that he will probably resign.
THE CHINESE TREATIES.
WASHINGTON. March 2lst.-The Senate
Committee OF ore1gn RelatioDS Io-uay re-
ported back the Chinese treaties, with
recommendation in each instance for ratii-
cation without amendment. The treaties
were thereupon placed on the Senate calen-
dar of executive business.
UNITED STATES SENATE.
WASHINGTON, March 21st.-The Vice
President presented communication from
the Governor of Wisconsin relative to the
death of M. 81. Carpenter. Read and laid
on the table. The Senate then went into an
executive session, and afterwards adjourned.
NOT AN AGENT.
WASHINGTON, March 21st.-The Bank Of
England, through Secretary Blaine, denies
that it has authorized A. H. G. Prudence,
st. Louis Notary, to act for them in the
United States in respect to unclaimed div
idends in the bank. Prudence was dismissed
from the banks service some years ago.