The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1881-01-14
Correspondence Of the Telsgraph.)
WASHINGTON, Jan. 10. 49,

w 1SAANNAO&NS ~ S0s xOS 4SS1s
The Wisconsin members of Congress,
both in the Senate and in the House.
are now with one or two exceptions in
their places, and ready for action on
whatever business may be brought
forward. But few Of the Wisconsin
members are much burdened with
committee work. The organization of
the present House of Representatives
was controlled by the democrats. and
In making up the committees but few
republicans were assigned to places Of
Importance. Senator Carpenter is on
two prominent committees, judiciary
and Foreign Relations. Senator Came.
ron is on half dozen committees. none
Of them of great Importance,
In the House, Williams has q place
on the Judiciary committee, which ia
one Of the most responsible in that
body. Pound is on the COMMITTEES of
Indian Affairs; Humphrey on Terrific
ries; Hazelton on Invalid Pensions:
Caswell on River Improvements. Mons
Of the four last named committees ara
Of great prominence. General Bragg.
democrat, was given the Craftsmanship
OF the committee on War Claims
After his assignment to that commit
tee, he distinguished himself by OPEN
ing the batteries Of his colloouial
powers on rebel war claims, and gained
quite a reputation as a radical on that
question. Democrats chided him for
his arrogance, and republicans praised
him for his holiness In denouncinq
rebel claims. On all other matters
Gen. Bragg has been in accord with
the democratic party. Fortunately.
the election Of Gen. Garfield, and the
assurance Of republican control, the
millions Of dollars of southern war
claims now on file in the national capi-
tai will remain on quiet deposit until
more favorable time for them In our
political history. In the meantime
Gen. Bragg will have no further occa-
sion to stir the ire Of his southern
democratic brethren on their war
claims. The two other democratic
members from Wisconsin, Deuster and
Bouck, have places on committees of
some importance-the former on Com.
merce and Public Buildings; the latter
on the District of Columbia.
Among the most important meas
ures now demanding the action of
Congress is funding act, authorizing
the issuance Of U. S. bonds at a glven
rate Of interest to meet between six
and seven hundred millions of out
standing bonds, redeemable the present
year. The national credit and the best
interests of the country require the
united wisdom Of Congress to meet the
present necessity. The bill introduced
by Mr.. Wood in the House proposes to
issue bonds bearing three per cent
interest. Some of the best financiers
doubt if bonds with so low a rate of
interest can find ready sale at par to
the extent required to meet the present
need. British three per cent consols
have been quoted fraction below par,
with a few brief exceptions, the past
twenty years. 1t is far better for the
credit OF our government that the new
bonds should command a little more
than par in the market than even a
small fraction below.
The extraordinary premium at which
four per cent bonds are selling is cal.
culated to mislead as to the feasibility
OF disposing of three per cent bonds at
par. BY calculation, it appears that
four per cent bond, running for the
period allowed by law, will bear pur-
chasing at nineteen per cent premium.
and still yield an interest as great as a
three per cent bond bought at par, and
running twenty-seven years, the same
as the four per cent. 1t is not alone
the rate of interest which is being dis
cussed in Congress, but the legislation,
accompanying the bonds, intended to
make them an object for bank securi-
ties as well as for investors.
There has been no great amount of
business done in Congress since the
holidays. There is complaint of alb
senteeism in both Houses; it often
happens that only a bare quorum is
present. More attention to the i'm
portant matters pending is expected
the coming week.
The winter in Washington has been
one Of the most severe in this locality
for many years, and probably never
before equaled for depth Of snow. The