Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-10-22
CURRENCY CONTRACTION.
Especial Telegram to the Globe. ]


WASHINGTON, D. O., Oct. 21-Controller
Knox says that his suggestion that British
consols and French rentes might be used
as basis for national bank circulation
was suggestion merely and not recon-
mendation, and that he is not certain
whether or not he will recommend it in his
annual report. He is of cousre confident
that Congress would not adopt such plan.
The contraction of bank circulation in the
last eighteen days incident to the payment
of the three per cents. has been $506,70,
and the contraction since Jan. 1 last
mas aggregated S9.813,271. More rapid
contraction than this is expected TO Jan. L.
1t is barely possible that the secretary OF
the treasury may think it wise to buy some
four per cents instead of threes. Theoret-
! ically he is committed to that policy but
practically it is very doubtful whether he
would assume the responsibility of paying
tae large premium. The effect of the first
two calls for three per cents is such as
to offer the banks but slight encourage
ment to buy those bonds and deposit them
as pledge for their circulating notes.
Already there is talk among the treasury
officials of another call for three per cents
before the end of the year, and the re-
ceipts from customs and internal taxation
since the beginning of October seems to
justify talk of that sort.
GOVERNMENT REVENUES.
While the customs receipts for last
month show falling off of 1856, 1914, and
the internal revenue receipts showed de-
crease of $3,2SS,717, as compared with
| September. 1882, the custom receipts for
the last eighteen days show a decrease of
only $S9,536 as compared with the CORES
ponding period of last year, and the inter-
nal revenue receipts are greater by S24,-
| 318, and the receipts from miscellaneous
sources were $1,3SO,315 more than for the
first eighteen days of last October-the in
| crease in this item being main
| ly from profits on coinage.
In other words the revenue
! ($20.05O,264 of the government for the
first Eighteen days in October, 1888, ex-
ceeded by $1,215,160, the revenue, $751;
$4,000 for the first eighteen days in o.
tober, 1882. The treasury officials will
not be able to make an estimate of the
receipts for the present fiscal year until
| about the middle of November as the re-
turns from the remote custom houses will
not be received until that time. Although
the receipts have been large thus far the
officials say that they are not necessarily a
fair guide to the receipts of the year, as
there are many causes which would ex-
plain large increase for the first quarter
which might not exist afterwards. The
com missioner of internal revenue will
make his estimate in the returns for the
first three months of the fiscal year, July.
August, and September, and not include
October, as has been the previous custom
with the internal revenue Office.
THE sPEAKERsHIP.
! Several Democratic members of the
House, who are no where, say they intend
to vote for Randall for Speaker. They
say openly that personally they much pre-
fer either Mr.. Carlisle or Mr.. Cox. but they
intend supporting Mr.. Randall, because
they believe his election would be much
better for the Democratic party than the
election of any other man. On the other
hand many leading Democrats of judg-
ment and experience, who personally pre-.
fer Randall think that to put him in the
Speakers chair with the full consciousness
that his whole aim and object will be te
play into the hands of the Republican high
tariff protectionists of Pennsylvania, would
be the most disastrous thing that can hap
pen to the Democratic party.
CIVIL SERVICE PROMOTIONS.
It is clear that the civil service commits
sion has decided to not at present appl!
the policy of competitive examination
to promotions. Two of the commission
ers, Eaton and Thomas, have pronounced
against this. DR.. Gregory is said to hay,
been at first inclined to favor the compel
tive principle, but he may have changed
his views. At all events he is in the minor
ity if he still adheres to that plan
a number of drafts of plans have beer
sub mitted and one has recently been IN
der consideration, but they all seem t.
fail in the essential point, that they d.
not take into consideration the executive
capacity and ability to command me,
and other qualities necessary in the head
of bureaus. The result of the long inter
view between the commissioners and TIN
president yesterday, about which SO mucl
mysteryis made was that there should benz
present attempt to apply the competitive
principle to promotions.
"Has the president put rings in the nose
of the civil service commissioners
gentleman asked who is deeply interested
in civil service reform and connected will
the matter of Mr.. Dorman Benton's on
nouncement that the commission woul(
not at present prepare rules governing
promotion. Their experience had shown
that the examinations for promotions, ex
cept within very narrow limits, are no
desirable. Objections to leaving thu mat
ter of promotion in the hands of bureau
officers are without force. The law sayl
that after the expiration of six months
from passage of the act no person shall b'
employed or promoted in either of thes'
classes until he has passed examination
| except specialiy exem pted from such ex-