WASHINGTON, Feb. 26. – The Treasury not bill as finally passed provides for the issue of one hundred and fifty millions in treasury notes – fifty millions in lieu of demand notes issued in July and to be substituted for them as fast as practicable. These notes are to be received for all debts due and from the United States, except duties on imports, which shall be paid in coin or demand notes heretofore authorized to be received and by law receivable in payment of public dues and interest upon bonds and notes which shall be paid in coin; the notes are to be lawful money and legal tender for all purposes except as above indicated; depositors of notes of not less than fifty dollars are to receive in exchange bonds bearing six per cent. interest redeemable after five years, and payable after twenty years. Five hundred millions of such bonds may be issued by the Secretary of the treasury and held at market value of coin or Treasury notes; receipts for imports are to be set apart as a special fund for the payment in coin of interests. The other provisions are formal.
The Secretary of War’s late order is intended to apply only to war news of a nature affording aid and comfort to the enemy as touching intended movements.
The House Committee on the Conduct of the War had a long interview with President last evening. I learn from a member of the committee that its members have been unanimous in all things since its organization.
The Navy and Treasury Departments have not hitherto pulled together on the question of giving permits to trade to Port Royal and Hatteras. Mr. Welles tells Mr. Chase that he has no objections to them if Mr. Chase chooses to grant them. Mr. Chase says he will grant them in all cases where Welles certifies that the shipper carries necessary supplies for the use of the army and navy. He has sent every application to Secretary Welles, being apparently afraid of breaking the blockade. It is now said that Chase may issue numerous permits to trade on the coast as well as on the Tennessee and Cumberland rivers, countersigned by the Surveyors of Customs in the West and by special officers in the east. Applicants will be required to give bonds as security for their fidelity.
It is said that Gen. Sherman’s soldiers have been induced to sell their pay at a discount of 50 cents on the dollar, by representations that Treasury Notes never would be redeemed.
The additional Paymasters will probably be dropped from the rolls, the Paymaster General agreeing with the Military Committee that they are too many.
The amendments of the Congressional apportionment bill passed both houses, giving one additional member to each, to Vermont, Rhode Island, Pennsylvania, Illinois, Iowa and Kentucky.
The Army Committee agreed to a report in favor of a national foundry east of the Alleghanies, and an Armory Foundry and Manufacturing Arsenal west of the Alleghanies, the sites of all to be fixed by five Commissioners appointed by the President, who shall report within sixty days after their appointment to the Secretary of War, who shall sent the result together with the estimates of cost to Congress. These works are intended to be at different points.
Mrs. Lincoln and her youngest son, who have been quite unwell, are improving.
The steamer Baltimore, direct from Roanoke Island reached the Navy Yard to-day. She was not fired at by the rebels although the night was clear.
Dispatches from Flag Officer McKean announce the capture of a brig and two schooners off the South-west Pass.
The amendment of Mr. Sumner is to the effect that Stark, whose case is now pending in the Senate, being charged by affidavits with disloyalty, is not entitled to his seat until an investigation of the truth of the charge will put the naked question to the Senate, of its right to exclude a traitor who brings credentials from the Governor of his State, and is ready to take his seat. There is an opinion that Stark will be admitted, although several Republicans protested against their being considered a precedent.
The Senate Committee on Naval Affairs agreed to report a bill reducing the salaries of the highest naval officers in twenty intermediate years to fifteen, and in the lowest ten per cent., and abolishing naval agencies and naval store keepers, and hemp and live oak agencies, the duties to be henceforth performed by regular navy officers.
– Published in The Burlington Weekly Hawk-Eye, Burlington, Iowa, Saturday, March 1, 1862, p. 3
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