The Dillon tribune. [volume] (Dillon, Mont.) 1881-1941, 1881-05-07
W.ASIIING1 IN LETTER
From our uiar Cores sn,n.lent.]
WAsHrNGToN, April Is, 1881.


has been the Post. ,tticc or "s,ar route" de-
ve.oi'ments or at least the supposed develop
mcnts. Jlst what the extent OF he ll> >ged
frauds will prove to b., or who the VA, ties
Implicated, cannot b. definitely stated, as
no specific charges have been mad. and no
definite information given out by the post
office officials, 1t is doubtless true, how.
ever, that some crookelness has been un-
ear he'd, ana that the matter is still under
invcsti CATION. 1t is ais, true that Second
Assistant Ps'stnaster-General Brady res
iyned ut the request OF his superi,rs; and
it is generally understood tnat thi, request
was in consequence Of c -rt lin developments
concerning which We shall know more here
after. Mr.. Brady and his friends deny
that there is an, thin! w:u,y, and the
Washington newspapers are about all on
his side. Those who pretend to know
something about it, however, a>s-r, that
over : 400 loo1 has t,.cn d.vil.l ain my u
ring of co:,trl:trs AMI their confcucrat.>
in the department. The annual appropri-
alton tor the postal service is about $s,ooo,.
ooo and for the last two years there has
be. a deficiency OFFS ,ooo,ooo, additional
1t i said to b t!,. view OF tine new Post .n.st-
er-Gen"ral that the department honestly
and properly managed should be sclt'sus.
tanning.
The corresp md. .nce received hy the
Treasury department. relative to tho Sscre
tary's ii,.ncial dep, rture is something
enor.nu.. Notwithstanding the very cx-
plicit Circular issued by the dcpa,,m. mt il
is evident tn. matter is not clearly uad.r.
stool, and that considerable mi>apprrl,e,.
sion exists amoay the pc ,p!e at large. Of
the $I9s,ooo,oo, d, oi six per ceats. which
mature on til. l,t Oh July next about $40.
ooo.ooo, are coupon bonds, ana the remain.
der are registered bontis.. The new 81
pr cents. to be ISSUED in exchange tor
these skies v II a'l he rcgist .rcl bonds, for
the reason that it can,ot be t,rsecn how
long the bonds will run. Congress may al
the next session make some provision
other tn IN that loptea by tn: Secretary
Up to this tim. it is unlersto III that the
amoun, o.. the skies which tn. l,ollers have
notiiicJ the deplrt,n mt Of their desire t,
exchange for .,15 per cents. is less than
$,o,onooo, bat littl. il any doubt is enter
tanned at the department that almost il not
quite the entire issue will be presented fo,
exchange. The letters which come from
the National bank ali over tie country IL,
dcat. this The Secretary 81 the Treas.
ury would bc quite rs well satisfied II In.
holders OF lifts II or twenty millions or ever,
more OF these bonds should prefer to send
them in tor redemption, as it is considered
certain that tn. surplus revenues would b.
amply >u;licc.t to pay of that proportion
OF them.
| \ Boston gentleman who holds over S,,
ooo.oo ri the >ixcs wrote to the S.cre,ar.,
tnat he would Lc very glad to cxchany.
them tor ; :: per cents hut he did not wan
to pay the express charges for sending ans
returning his bonds. II. submitted cal
cu'ait.n which hr had made, shown: tha
thr express charges to the holders OF til,
skies, ii the Whole issue he sent in for tx
change wonld aygre gate over one nlil!io:
dollars, and he protested that this MAS to,
heavy an expense to be imposed upon them
Bu, the position taken bv the drpartm-n
is that tll. o ti,,u afforded 20 the holders o
the si>r> 81, :>,o is in thc dissection .. ,c;'n
o'nv and reduction of t>rcr''i'ur>~, NJ
une i obliged to accept the "il,r, and M
i,rrstIl>ion> whatever are used to Undue,
Ii, Il, ,ceptaucc. Ii the cn,irc ,uc of $lYS,
$4,000 should nc presented b, the holder
and payment demanded the Sccr,'ar,
. would bc amply able by the sale o' the 1 ;
| per cents. ,ot issued and the use Of the SUI
;lus revenues to meet the demand. Th
two rr.a>ur, officials detached to r>tabli>
an agency in London for the benefit of tn
European holders Of the skies will sail thi
, week and begin operations imnc'ialcl. I"
. their arrival. Ii is estimated that from D..
10 20 million dollars OF the bonds are in til
, hands OF foreign holders. Whether an
: considerable portion Of the owners OF til
, bonds abroad will b. willing to accept 8
y per cent. INTEREST is not yet determined, Il