Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1881-01-27
News. by Telegraph
FROM ALL QUARTERS.
The Refunding Bill.
Comptroller Knox Before the
Finance Committee.
The New Senator From Tennessee.
A Democrat to Succeed Sena-
tor Bailey.
Geek Tepe Taken by the Russians.
The Notifications Carried After
a Severe Fight.
Geek Tepe Taken by the Russians.
THE national CAPITAL.

THE NATIONAL CAPITAL.
acknowledgements Knox's Views o
peal OF the Fifth Sectional Successor t.
Senator Bailey--A Democrat Elected,
Senator Malone Holding the BaIanc.
of PoNer-The Postmastershfp at Al
bany-Other Matters.
| WASHINGTON, Jan. 26.-Comptroller Kno1
gave his views before the Finance committee
to-day in reference to section of the fund
ing act of 1881. After referring to the ne
cessity for the passage of the acts of june
20, 1874, and January Il, 1876, he said that
these acts perfected the legislation in refer
ence to the issue and retirement of circula
ton that the amount of circulation retired
since the passage of this act was $71, zoo, 900,
and the total retirement of circulation had
been at least ten millions greater than the
amount issued since the date of the passage
of the act; that the total expense with but
very slight exception, with the retirement OF
this circulation, had been borne by the banks
themselves; that the total number of banks
holding less than one-third of their capital
stock was ffty-si2, and that these banks
would bereqaired to deposit $500, 745 OF
additional bonds of the proposed section
should become law; that of this number of
banks eighteen are located in the city of New
York, which banks would be required to de-
post $5, 24O, 900 additional bonds; that the
banks hold about $3.50, 900, 600 of per cent,
Al per cent. and Pacific bonds, and about
5000, 900, 900 of the bonds about to mature.
He said that if these bonds were all
paid by the government the banks
would not be obliged to purchase
more than $50, OOO,0O in order to
comply with the proposed amendment
requiring them to continually hold one-thir
of their capital stock in bonds: He said the
present profit on circulation upon
per cent. bonds at - per cent.
per annum was 1.42, where the rate
of interest was 6 per cent. 1.16, where it was
Z per cent. 80. 100, where It was s. per cent.
6-100, where it was per cent. 26-1OO. The
profits on 81 per cent. at par would be about
II per cent. where the rate of interest is Z
per cent. That there is at the present time
$69, 600, 600 of circulation which the banks
could obtain upon their present capitals up
on depositing the necessary bonds, which is
good evidence that the profit on circulation
is small. He was also questioned upon the
dividends of the banks, the humber of banks
passing dividends and upon State and ma
tiona1 taxation, and furnished the committee
numbers of tables He recommended strik
ing from the bill section 5 and also an
amendment to the bill authorizing all banks to
receive circulation for their full amount OF
capital and 80 per cent. upon the bonds de-
posted, and suggested the repeal of laws i'm.
posing tax upon deposits and capital of the
banks. Upon being asked if tax upon Cir
culat1on was necessary to pay the expense OF
his Office and the issue of notes, he replied
that the gain to the government from the
losses upon the national bank notes now In
circulation, if estimated at one per cent
would amount to So, 500, 900, which would be
sufficient to pay the total expenses of the
national banks to the government for the
next fifteen years.
About three o'clock this afternoon infor-
nation reached the Capitol that Howell
jackson, State credit Democrat, had been
elected United States Senator to succeed Sen.
ator Bailey, whose term of Office expires on
the 4th of March. The news spread through
the Capitol with great rapidity. Early to-
day it was reported that Postmaster General
Maynard had been elected Senator, and the
large vote he had received on every
previous ballot together with the
supposition that Stewart (rep.), whose
title to seat in the Legislature had been un-
successfully contested, would be seated and
vote for Maynard, gave a color of truth to
the rumor. Deep interest was felt in the
subject, as had Maynard been elected Malone
portant political factor in the Senate
and the complexion of that body after the
fourth of March would have been Republican
beyond peradventure. Now Malone retains
all his political Importance and his vote will
decide whether the Democrats shall retain OF
lose control of the organization of the Senate.
The Senate in executive session to-day
I'll. Haskell to be postmaster at Albany in
place of W. FL. Craig, the present incumbent
Mr.. Conkling is opposed to the confirmation
of Haskill. The commission of Mr.. Craig
will not expire until the End of March, date
so near the end of the present administra-
ton that should his successor be confirmed
Mr.. Haskell could not qualify until General
Garfeld's administration comes into power
1t is very serious question whether under
the circumstances it would be proper to con
firm Mr.. Haskelrs nomination. It is believed
that majority of the Democratic Senators
will agree with Mr.. Conkling in his views, al
though Senator Herman is championing the
new nominee.
The House Committee on Postoffices an6
Post Roads, through Representative Morey
their chairman, reported back to the House
to-day Representative Springers resolution
instructing the committee ito inquire into
the expediency of establishing by law posta
LCACS1dPA 6y50CAA uuu0E Gu0 RON0Tum6nb u
the United States, /" with the recommendation
that it pass for the following reason: "Tha
| it is evident to the committee that there is
general demand by the public for protection
in telegraph communications from the extor
| tions of great telegraphic monopoly thai
| absorbs its competitors as they become estab
lished, and thus compels tariff which pay
| dividends on stock believed to be largely wa
tered and therefore official inquiry SHOULD
| be made into the facts, and legislation pro
posed in accordance Herewith"
The President sent to the Senate TO-DAY
| the nomination of Stanley Matthews of Ohit
to be an associate justice of the Suprem,
Court of the United States
The committee consisting of General
Crook and Miles, Mr.. W. Stiekney of tn,
District of Columbia, and Mr.. Walter Adam
| of Massachusetts,, appointed by the Presi
| dent December 18th to make fresh inves
tigation of the Ponca question, has submit
ted its report, in which they generally con
denim the removal of these Indians from
ute the recent abandonment of tn
| idea of return by the Indian
to belief that the goyernmen
would not sustain them in thei
| title to their lands in Dakota, and a
their head men have agreed to stay they re
gard it as solemn compact, but that thos
| who have returned earnestly desire to stay il
Dakota and Nebraska. The commission be
lieves that action by the government
towards making amends for the wrong
| to these Indians would have
salutary effect on all Indians by impressinJ
them with the good faith of the government
They therefore recommend an allotment o
16O acres of land to each man and child O
the tribe, to be located at the option of eacl
in Dakota or the Indian Territory
not to be subjected to lien, taxation or in
cumbrance for thirty years, and until sucl
time thereafter as the President may re
move such restriction; that the government
continues the appropriation of $53, 200 pc
annum for five years at least, and that 1926,
600 be Immediately appropriated, $1,000 t
be expended for the purchase of agriculture
implements for the Dakota branch and 50,
600 to be divided among others as paymen
in full for Sioux depreciation
and losses by removal; also that there be az
propriated the further sums of $751;
for dwelling houses, $1,000 for schoc
houses for the Dakota Poncas and that re