Year: 1879

WASHINGTON. July 80. 1879.
THE FEEEDMANs SAVINGS INSTITUTION


PROMISED by THE SENATE INVESTIGATING


CONTEMPORARIES EXPENDITURE FOR COM


MIssIoNERs.


The experts employed by the Special Committee
OF the Senate appointed investigate the MANAGE
ment OF the Freedman's Savings Institution have
nearly completed the examination of the books of
the Atlanta branch. which was OF the most i'm
portant OF the branches the institution
and through which larger deposits received
than from nearly all the smaller branch offices
bined. Tho developments which careful
hauling of the of the Atlanta concern has
uncarthed said to be of interesting character
never before known. and promise key to tho
transactions OF the main office here i'll Washington
which the Investigation conducted by Congressman
Douglass. of Virginia during the Fortyfourth Con-
grcss did not so much AZ discover.


Senator Bruce, tho chairman OF the committee
says that before lie the resolution asking for
the appointment of this committee every effort
made to discourage him from doing 50. and since the
committee has been appointed there has been end
to the slanderous statements made against him.
These no knows cannot como from democratic
sources. since tho democrats never glad
when they allude to tho swindling of the freed
men by their so-called republican friends and
his inference is that the statements pub
lshed come from not anxious
to have the truth made public. This much
Senator Bruce says can be asserted. If the
government will purchase the bank building
occupied by the Department of Justice, and the
adjoining property here in Washington at q fair
valuation another dividend of twenty per cent
be declared next year. making total of fifty per cent





leaving loss Of nearly $2.OOo00O to be accounted
for. 10 ascertain this the energy the committee
and skill OF the accountants now directed, and
until the books examined by the skilled bank
aminers and accountants employed by the
mttee, Senator Bruce says there is little for the
| committee to do.


| The investigation made by the House Committee
of the Fortyf Congress was limited principally
to witnesses. and was thorough perhaps the
time and means appropriated would allow. There
| was always suspicion, however, that the real
| object of the House Committee to manufacture
political capital for the Presidential campaign in 1876.
and it is asserted fact that the evidence
taken by that committee only confirmed what every
| body knew, and that that the affairs Of the
bank were very loosely conducted. How much
money came to be loaned absolutely worthless
security and known to be such at the time of the
loan, is question the committee satisfied they
can solve with the aid of the revelations made by
| thorough analysis OF the bookkeeping methods of
| the institution.


The members of tho committee are Senators
| Bruce and Cameron, Of Wisconsin. republicans
| and Gordon Garland and Withers, democrats. The
committee being asked for by Senator Bruce he was
made chairman, though will be the majority
! the members democrats. Letters are received
every day from anxious depositors, saying that it
| will ba
| the assets Of tho bank were and how and where
| their deposits distributed. Senator Garland,
! with view of diminishing the expenses of the
| liquidation. introduced bill from the committee
the close Of the last session, repeating the
appointing the three Commissioners and transfer
ring the settlement Of the accounts to the Comptrol
Ter Of Currency For want OF time action was had.
| The reason given by the committee for this step
that since 1874. when the bank failed three
| Commissioners we're appointed ut an annual
salary OF $4,000 each. while only Of the
number actually did any work. 1t appeared upon
| investigation that the laboring member of the
! commission received for time $500 per annum
| from each Of the other Commissioners until this
tax became too onerous and they both refused to
contribute cent from their salaries saying that
they not appointed to work, but account of
the eminent respectabiliy of their So 1t is
told as fact that nearly $4,000 has been expended
merely in giving the institution respectable windup
So gleat has this become that active member
shows that the current income Of the receiver
ship is swallowed by the expenses of the useless
Commissioners. The Treasury Department will be
asked to take charge Of the business and relieve the
institution Of this useless outlay OF the slowly col
ected debts. Senator Bruce says that he hopes the
committee will be able to report the result of their
labors early next session. but that has the
of man N he of
the institution kept. Nor does it appear that
this bunglingy done On tho contrary the
method displayed was such known to but o
few of the confdants of the institution Hence it
is necessary to thoroughly examine every record
kept at the branch institutions.


MINISTER wELsH's sUCcEssoR-coNsIDERATIoN


OF THE APPOINTMENT DELAYED


1t is understood that the President will do nothing
in the matter of selecting Minister to England
until after his vacation and when the subject can
be discussed with his entire Cabinet around him. at
present there only three of the Cabinet in Wash
ington-namely. Secretaries Evarts. McCrary and
Thompson. Before all the members here to-
gether again the President win have probably with
drawn to his farm at Fremont AS is we'll known
Mr. Hayes defers greatly to the opinions and advice
of his Cabinet and he not likely to make cxcep-
ton to his rule when lac comes to select the
sor of Minister Welsh.


THE NEW YORK PENSION AGENCY-CHANGE OF


QUARTERS DETERMINED ON.


During recent visit of the Commissioner OF PEN
sions to the Pension Agency in New York it de-
cided to change the site of tho agency from the old
Naval Office to point in more convenient and
cheerful part OF the city. General Coster was in
structed to select quarters and will do with
out delay. The reason assigned for the change is
that tho present Office is unsuited for the business
OF the agency. 1t was taken originally because tho
Agent secured the rooms free of rent. Now that
tho pays the rental of the pension agen-
ces it is thought proper to give the New York Office
unobjectonabo place for the transaction of bust
ness.


JUDGE DIILoN's RETIREMENT


An arrangement has boon made by which Asso-
cate Justice Miller. of the Supreme Court will hold