Show special to mhd NEWS chicago 5 6 shermans Sher mans loan ioan bill authorizes the secretary of the treasury to issue I 1 registered coupon bonds in such form and denominations as he may prescribe the interest payable in coin and bearing interest not exceeding 5 per cent per annum payable femi feml annually and to run noi not noc exceeding 30 years and to be disposed of at not less than par pr the proceeds are to be used excle exclusively iel lei yin in reducing the obligations or other indebtedness debt edness of the united states except US notes section 2 provides vides thattie that the bonds issued under this is act shall be known as the consolidated debt of the united states and shall be exempt from taxation in any form by or under state municipal or other local authority and in consideration of the reduced rale rate rare of interest shall also alpo be exempt from tax on the income derived section 3 requires that the amount of interest saved to the government shall be applied to the payment of the principal and that for the purpose of insuring the payment thereof and in lindof the sinking fund contemplated by the act of feb 25 1862 the sum of at least thirty millions including the saving of interest as aid shall bean be an to the redemption of the mile clie public debt I 1 edt section 4 requires the eiders holders of 7 30 treasury notes to inform the secretary at least leant 6 months before the maturity of such notes whether they desire 5 20 bonds in lieu thereof anu and and a failure to give such notice shall be deemed conclusive that the said 7 pall be paid in lawful money senator sherman in offering the bill said it contained propositions two likely to excite opposition namely the exemption from tax and the option gave to holders of 7 he said a strong feeling grows out af the exemption from state taxation of so large an amont of property while the US bonds bono bear interest equal to that paid in most states on notes and securities subject to taxation sherman intimated that the operations erat ions of this bill would in 35 years wipe out the whole debt thus in effect paying the debt by the saving of interest the second proposition likely to excite opposition is that which div gives S option to the holders of 7 this this ne option tion t will compel the secretary of t the tho treasury to accumulate vast sums for a contingency that may not happen and places him at the mercy of a budden sudden sudden budden combination when the notes mature to avoid this the bill requires the common custom and law of giving a reasonable notice if no option is taken then it will be held to be a choice of money and the secretary will have 6 months to prepare for it sherman said the bill had been loeen approved by the secretary and had been partially considered by the finance committee it will be expected tha that t holders of the present bonds will not convert them but fortunately nearly all our securities will soon be within reach by maturity bendit is his confident belief that this proposition of reducing the rate of interest will be so far an adjustment between the conflicting interest of the bond holder and tax payer that it will be accepted by both and thus consolidate the debt of the united states all the advantage proposed by the bill will be mom mon proper properly ly co considered nilder when it is reported to the tha senate the bill was referred to td the committee on finance the new york times says the measures in shermans sherman Sher mans I 1 s bill were most favorably received in financial circles tho the senate on the ath confirmed lewis D campbell minister to the republic bublic of mexico also the following brevet major generals in the regular army hooker handcock scho schofield e d terry ord canby ery eny pry towne townsend end holt delafield hardee ketchum hentzelman Hentzel matl maTi and an dEmery emery both houses have passed a resolution extending the tha time for the completion odthe of the first hundred miles of the east tern division of the union pacific rail bail road roid and extending for two years the time tinie for the northern pacific railroad rall Eail road on in all its sections A conference committee having agreed on a bill amendatory of the habeas corpus act it passed bath houses and only awaits the signature of the president it protects every officer who acting under order made what is known as arbitrary arrests during the war it also removes all such suits from the bbate state to the federal court the Th eHouse house on the tha ath passed a bill creating the office of surveyor general in idaho the bill reviving the grade of lt general passed the house housh with only 11 dissenting dis enting votes washington 5 the colorato Col bill was submitted to the president on ane ith considerable excitement is caused by the suspension of the merchants national bank a government Gove rement depository which had continued receiving deposits up to the last moment donicht of its circulation the deposits by individuals amount to 2 and the deposits by government agents arents and disbursing officers to nearly the liabilities to the treasury department are 5 the off omm meers officers of the bank attribute their failure to the large amount loaned to byrne aco stock brokers in baltimore who have suspended the stock of the bank was offered at sots sets on a dollar without purchasers memphis 4 tile riot has ended and no further trouble troubie is expected arlic the tho negroes continue to leave the city the eed Bed bulletin letin ascribes the riot to the antipathy between th the irish eIrIsh and the negroes and does not credit the report that it was premeditated by the negroes the ava lanca lanch says it was engineered by the fanatical teachings of abolitionists the citizens in general are humiliated humi huml by the event which they could not control and for which they disclaim Te responsibility new york 5 the journal of commerce says the week has been one of excitement business is lower on wall caused by the discovery that the legislature before its adjournment had passed a bill which imposes a state tax of one per cent on all ail brokers sales of foreign or domestic wines and ardent spirits half of one percent per pen cent on sales of dize or produce imported and three quarters of one per cent on all sales of any foreign produce it is estimated that of merchandize merchandise dize was sold last year through the brokers of this city exactly how much will be subject to this tax we cannot say but the interests thus effected are immense and if the law is duly executed it will cause an immense revolution in the trade of this metropolis boston will be enabled to win back a large part of the tea trade and philadelphia and baltimore will attract no inconsiderable portion of of the coffee and sugar trade since this tilis state tax will amount to a very heavy burden on all cargo movements no heavier blow was ever aimed at the commerce of new york I 1 and we see no way in in which it can be resisted or evaded chicago 5 the house has lias passed a bill establishing biennial sessions of the legislature in washington territory and doubling the pay of the members the commercial commercials special says the president stated on the ath that he should veto the colorado bill chicago 6 the times washington special says the Freed mens bureau has received dispatches from memphis stating tha that to the riot began in in an affray between a party of discharged soldiers and anda squad of police both parties were in fault the latter for using excessive violence and the former for resisting authority about SO 30 colored people were fere here killed and all the colored schoolhouses school houses tub una and tua churches were burned the tribunes washington special says the senates finance committee have agreed to report shermans Sher mans loan bill without amendment london 27 the latest dates from germany state that prussia objects to disarming disarming while austria continues her army on t the e italian frontier london y 29 thie the reform bill passed the house of commons by 5 majority german news is is conflicting there is considerable uneasiness in relation to austria and italy the latter iatter having anvar warlike like intentions chicago 8 the bank statements at new york show an increase in loans of nearly 9 increase of deposits increase of specie money continues plenty and with more demand N dry goods have been falling off in demand for all textile fabrics both staple and fancy and prices of domestic cottons have again declined from I 1 21 2 cents and are still unsettled and irregular there is no merchant manufacturer or im importer portor but what has been disappointed with regard to trade and prices t this his sprin spring consequently few are willing to embark ark many are anxious to force goods to a sale even at loss in in order to realize and meet outstanding debts yet there is a continuation of heavy imports though probably one half ortha goods imported this season will result in a loss of 20 per cent 1 washington Washingto ir 8 the senate has passed the house resolution congratulating the emperor of russia on his escape from assassination washington ron kon 9 gen geh rufus bufus ingalls has been ordered on an inspection tour of the military posts in the pacific states and territories ri the government loses about by the failure of the merchants dank vank yew york 9 all the spanish fleet except the Beren gula had sailed for the northern norme rn ports of callao preparations by fortifying were actively making malting for the reception 6 of the spanish fleet the french steamer la france arrived at havana on the ath for vera cruz with troops I 1 the secretary of war has ordered gen terry to regard the presidents peace proclamation as doing away with martial law in virginia washington 10 in the house after s speeches beches by y randall strouse banks ekley eckley beaman eaman rogers farnsworth dawes and bingham ing all of whom except banks s and eckley opposed the ad section of the constitutional amendment while the democratic s speakers eakers opposed the whole proposition stevens stevens closed the debate and at 3 moved the previous IOUs lous question which was sustained by 90 00 yeas to 57 iiams hays the democrats voting aye in order to prevent the amendment particularly the ad section on the question I 1 shall the main question be now put 2 11 the house voted yeas 84 nays n ays 79 the democrats again largely v voting in the affirmative at this time the galleries were crowded and as the vote progressed the greatest inter estand excitement were manifested the result gasthen was wa then announced yeas I 1 nays 37 and the speaker de declared ci ared the joint resolution passed amid considerable applause upon this final vote every republican voted aye except smith of Kentuck kentucky yand and phelps phelp of maryland the senate has confirmed the nomination of mr smythe collector at new york city also gen knipe postmaster at harrisburg and theodore H dodd indian a agent a ent in new mexico chicago il 11 the union pacific railroad rall Eail road company i have negotiated through the ban banking king house of john J ciscon son of their bonds at 90 cents gen fisk had arrived at memphis ordered the immediate rebuilding of the negro schools and churches burned during the riots and that the cost be levied on the city new york 11 the quarantine surgeon reports ane one new case of cholera and no deaths to dayi lay 50 cases are in hospital the city is unusually healthy col resigned his position as head center of the feniane this morn morning in g which was accepted by chief execl executive ti ve stephens mr killian has been removed as treasurer stephens the fenian head center arrived here on the loth A letter from norfolk says district attorney chandler had received from washington an indictment against jeff davis which he would lay before the grand jury mrs davis will remain at fortress monroe until her husband is finally disposed of by trial or pardon and is makin making arrangements to keep house inside tg the he fort she visited norfolk fo lik lit to purchase supplies when the peole pie showered upon her presents of all kinds and showed active sympathy in her er behalf the commissioner of the general land office during A april issued patents gents jents for california land claims amounting to acres and oregon donation patents covering private telegrams to the paris moni teer eer assert that pacific arrangements have been completed between austria and prussia the latter power assenting to the austrian proposal for mutual disarmament the gazette of bavaria confirms this asserting that all danger of a war in germany is removed ani and the paris Constitution ell accepts the news as correct the florence journal says that the austrian government had ordered all the land and naval forces at vienna to be pla pia placed cedon on a war footing by the of may and an extra concentration of troops was to take place in the province of rogina regina washington washinton ton 11 the senate further debat debated ed trum bulls bulis amendment to the post postoffice office ap bill and finally rejected it ayes 16 ays 23 nine entire days have been spent upon the consideration of this measure confirmed the nomina ciori of gen sickles as mi minister n 1 ster to hague the senate finance committee reported baek back the nomination of ex gov johnson as collector of internal revenue at pittsburg with a recommendation that lie he be not confirmed the merchants and national bank failure is still undergoing investigation by the treasury and war departments the bank held of government funds of which were deposited between the of april and the ad of may when the bank failed the government officer investigating the matter thinks the government will not realize from the assets of the merchants and national bank exclusive of the held as security for government deposits this failure wl probably revolutionize the system of or using the national banks as public de pogi tories norfolk va ya 13 11 late yesterday afternoon the grand jury of the U B S circuit court brought in a true bill against jefferson davis for treason and the court adjourned to meet on the first tuesday in june at richmond judge underwood went north last night carrying copy of the indictment nashville 11 th the tho e ten tennessee 4 essee house representatives debated the bill conferring civil rights on freedmen an amendment that the law should not be construed t to 0 permit colored men to sit on juries nv was as adopted 30 against 29 another amendment than thaC that colored children should not attend school with white was adopted by a close vote the bill then passed 31 against 28 intense excitement exists in nashville memphis and chattanooga concerning the proposed metropolitan police bill conferring on the governor the appointment of police boards for each city A joint select committee heard the arg arguments U ments today to day including gen thomas who advocated advocated the beai measure and finally voted 10 against 3 to report a bill with a recommendation that it pass not even the franchise measure occasioned so much excitement new york 12 the french minister explains that the french troops reported having passed havana for vera cruz are to take the place of those whose terms have expired or who have become invalids the dos pos says santa anna arrived at elizabeth port N J this a m accompanied compa compan ted nied by several south americans and that it is understood that the object of his visit is to unite his efforts with the liberal party in mexico he declares that he is not seeking personal power but will place himself und under erthe the tho lead of juarez Off omm leial official documents document have shave been placed in the hands of seward by minister romero showing that santa anna was a firm advocate of the monarchial government in mexico fand is now mow an adherent of Maxi |