Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1885-09-10

The Projected Silver Compromise Bill.
NEW YORK, September 9th.-The Posts
Washington special says The published
statements concerning the projected silver
compromise bill have been accurate in
many respects. 1t is not technically true
that the compromise bill, upon the passage
of which the Administration relies, is being
drafted in the Treasury Department. When
the Warner compromise bill was first sug-
gested. ii met with Secretary Manning's
qualified approval. He stated his belief
that the stoppage OF silver coinage would
have TO be secured by some compromise
measure that such proposition coming
from Warner was entitled to careful con-
sideration, and was important toward a
solution of the problem. He, however,
demurred at many features of the Warner
plan, as then outlined. The silver men
were excited with the manner in which
their proposition was received and Warner
and Others agreed to give time and atten-
ton to perieciing the compromise measure,
avoiding the provisions 10 which Manning
took exception. On this basis the Treasury
officers have had numerous conferences
with representatives, of the various factions,
have carefully reviewed the subject. and
partly prepared plan in regard to a
possible compromise. 1t will not be
made public until the results of Warmers
efforts have been made known. 1t is true
that on the main features Of the plan there
is no longer any difference of opinion, and
that settlements Of the differences in the
minor details are being reached The
statement that silver certificates issued
under this measure are to be redeemed at
the current market value of bullion is not
confirmed at the Treasury Department.
This point IS one still remaining unsettled
The Treasury Officials will oppose the is
sue Of certificates Of smaller denomina-
lions than twenty dollars, while Warmers
views originally were that silver certificates
should be OF all denominations. The
recommendations made by Manning and
those made by the President to Congress
will contain no reference to the comprom-
Use. They will be an emphatic plea for
suspension of silver coinage. The Treas
ury officials state that the standard silver
dollar is to-day worth only eighty cents !;
that It's value must continue to decrease,
owing TO the agitation at home and abroad
Pacific Road Subsidies.
WASHINGTON, September 9th Second
Comptroller Maynard has made a report to
the Secretary of the Treasury ON the appli-
cation of c. p. Huntington, of the Central
Pacific Railroad, TO have the compensation
earned by the company in the Government
service over The now subsidized portions of
Its lines paid over TO the company. He
says Prior to June y, 1888. the Gov
eminent had retained all the compensation
due the company for Government trans
portation, and applied it as required bv the
provisions of the Thurman Act of ISIS
one-hait to the extinguishment of the in
terest on the Government subsidy bonds
and one-half credited to the sinking fund
Pursuant to decision of First Comptroller
| o. .or1ap II II.
made an order that thereafter only that
portion of the earnings of the company in
Government service, which accrued upon
the bonded portion of their roads should be
retained by the Secretary of the Treasury
under the Thurman Act, and that the
remainder, which constitute the larger
part, should be paid over to the company.
This practice was followed until January
- 1884, when the Secretary made another
order, suspending the operation of the
order OF June u, 1884, until Congress
should have the opportunity to legislate
upon the subject, and directing the
accounting officers not to make
any disposition of the amounts
found due the company for
transportation over the non-subsidized por-
ton of their road. Congress omitted TO
take any action. and meanwhile about
100000 of earnings had accrued. which
remained undispoSed of under the latter
order of the Secretary. The Second Comp
troller recommends that both orders be
revoked and that the practice which pre-
vailed before the adoption of these orders
be revived and continued, and that the
amount above stated, which had accrued
and remained in suspension after the latter
order had been issued. be covered into the
Treasury and applied as required by the
thurman Npt % - Of l,n
Section of this Act relates to all earnings
of the company in Government services.
and requires the whole amount of compen-
sation due therefor to be withheld by the
Secretary Of the Treasury and one-half APP
pied to the payment of the accrued inter
est on the Government-aid bonds and the
the other half placed to the credit of the
sinking fund The Comptroller says the
company will sustain no loss in conse-
quence of this disposition of the money.
The whole amount will be applied either
presently or ultimately to the payment OF
their Indebtedness TO the United States,
while greater security will be insured to the
Government.
Arbitration League.
WASHINGTON. September 9th.-1.ta meet
ing of the Arbitration League, held here
last night, resolutions were adopted declar-
ing that it is expedient to have a Congress
sional Committee appointed at the Noyem-
Der meeting, representing every State in
the Union, with view of the complete
canvass of Congress during the coming
winter, in the nope of securing the passage
of bill in favor of a new treaty between
Great Britain and the United States, reduir-
ing all questions of international contro-
verSy between these two countries TO be
referred to arbitration; also that the mem
bers be instructed to use their best influence
to bring to this meeting as many new
members as possible representing the diff
ferent States, and that the meeting consider
the question of organizing branch arbitra-
ton leagues in different parts of the United
States, 50 as to secure a powerful and
united action IN favor of Congressional
legislation. A committee of five was APP
pointed by the Chair to wait upon the
President TO secure, if possible, his good
offices in the turtle ,anle of these Jews
Fourth-ciass Postmasters.
WASHINGTON, September 9sh.-The acting
Postmaster-Generalh has appointed the fol-
lowing named fourth-class Postmasters
Calilornia-At Quincy. Andrew W. Cook
Halimoon Bay, Joseph Debendet. Oregon
AT Dayton, T. NJ. Perry
The Grant Memorial Fund.
New YORK, September 9th.-The Grant
memorial fund drags heavily. The total
subscriptions TO yesterday were 81. $50.
The largest sum contributed Yesterday was
$50, from S. J. Tilden. The Times and
other papers continue to plead the national
character OF the fund and the object. The
Times says the sum required could be raised
IN a very short time were personal applica-
ton made 10 the wealthy men of the coun-
try who esteemed General Grant. but a
monument raised in that way would not
carry out the idea with which the Associa-
ton having the matter IN charge was
formed, which was to build memorial by
means of popular subscriptions.
Wards Financial Tricks.
New YORK, September 9th.-The evil
dence now coming out in the civil suit
against Ferdinand Ward further reveals the
character OF the man and his transactions.
lie TESTIFIED yesterday how he made over to
Warner large amount of property coz
trolled by hun, and how certain obligations
came 70 be in Warmers possession. The
nominal consideration for the transfer was
S50o,009. The obligations surrendered grew
out OF alleged contracts given to Warner by
Ward, by the so-called profits ON invest
ments. The following testimony was
given
Were the sums you paid these con-
tracts, sums which were actually earned ~,
They were not, said Ward, calmly.
Now, can you refer to single instance
in which you or Grant & Ward earned
profits on these contracts ~
-.