New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-09-13


Wharton will have to look after the arguments of
his own book, which he is quite able to do" Very
true; but while he will have difficulty In main
tanning his conclusions in relation to extraterri-
torial jurisdiction he will be unable as Solicitor
for the State Department to give aid In extrcatng
the Secretary from false and untenable position.
If he had been allowed to look after the arguments
of the Secretarys diplomatic correspondence with
Mexico 1t would have been better for all concerned
A correspondent asks " Has the Secretary of the
Treasury right to issue silver certificates IN an IN
limited amount for the silver dollars in the Treas
uryf If he has the right why doe, he not do SO
What is the probable future Of the national bankf"
The Secretary has no right to issue certificates
against CONS in the Treasury. The new small GER
tifcates like the old silver certificates. can be
issued only on deposit of silver dollars by the peo-
pie But to issue certificates against COINS in the
Treasury, if the Secretary had that right, would
be only borrowing money at time when the re-
ceipts of the Treasury so greatly exceed the ex-
penses az TO cause embarrassment. There is no ex-
cuse for borrowing money now. Nothing
can prevent extinction of the national
banking system under existing legsla-
ton, whemthe time comes for the redemption OF
bonds held for circulation. Part of the banks hold
ing per cents are surrenderng circulation, and
small part are Duylng HIgu-PiiOou o'no' VIM"
have several years to run. Considerably less than
a third of the existing circulation Is protected by
deposits of the per cents, which Will be redeemed
within year or two. The remaining circulation.
more than two-thrds of the present. will douotiess
continue until a moderate reduction occurs at the
redemption of - per cents in 1879 and the balance
will doubtless continue until the per cents come
to be redeemed IN 1 907.
"Tim Campbell and Bill . Furey have had a
conference in regard to the distribution Of Navy
Yard patronage. What passed between these
statesmen in the interest of New-York and Brook
lyn respectively does not appear, but when they
separated they Cooked happy" Evidently " re-
form" i'll the Navy Yard may now be looked for
under the happiest auspices.
The Overwhelmingly Office was represented at
the County Democracy's concave the other
night by Mr. Fitzgerald, who made speech IN
which he coated Mayor Grace with honey, and pre-
sumed to assure the citizens of New-York that the
Mayor has had no other than the purest motives
in all he has done. Mr.. MARITIME would do well to
keep his assistants out of political caucuses Just at
this time He is engaged in the delicate work
of bringing political knaves to justice, and IN view
of the last Grand Jury's presentment, it is not
becoming in his assistants to commend what 1t so
severely CHI o. srized.
Secretary of the Navy Whitney, presuming that
foreign ship and engine builders are superior to
anything we have in this country, has purchased
designs for shi ps an machinery from English ana
French builders. Suppose our patriotic yachtsmen
had presumed to admit that home talent could not
compare with that abroad who would be the pos