, 1863-01-29
OUR WASHINGTON LETTER.


~c:. -: :. a,:.4.~10 va "AA = Law
p~o.-... ~. - -. -1,.-..,., u,,,.r.,.
.1ion 81 DsPo.its-Heasens Thereior
Gss,an mo EEL 1ssa 4ar,an. 4 =. Aen, r.,
;fsvor of! Arning- Ncgroes-General
Fiji Io61 Porfcrs so"0" o1Ae@ns-
L :, : from onr Own Correspondent :;
5:.~ .WArHus7os, Jan. u, 1888
The House to-day, in Committee of tie
Whole, indicated their purpose to pass the
Ways md Means scheme Of finance, with ccr-
tain needed improvements. This was shown
first by voting down Mr. Hooper's bill, and
| second, By voting down Mr.. Stevens bill-the
chairman Of the Committee of-Ways- and
Means having dissented from the majority Of
the members, and brought IN the worst bill
by far. that has engaged the attention of the
House. The tax. on bank deposits added to
| the tax In, circulation, is q very healthful
amendment, though By no means up to the
demands of IN, crisis IT. NAV strite the o.n.
eral reader a5 an unjust propositlon. but It
can be shown to he nroper botll "a a measure
Of reyenue. and as means of repression of
| hank ina,t,on II ~ f,ct we1i known to 'thr
hanks ,fno+ IL +be n1nhlic thot tho 1o,ns of
| these institutiong are: GENERALLY greater than
their canital md z7enositsi nnt torcther; 4The
tohles of thc lsst cen,ns, ahnv tbia most con,
o,ns,re1v Tha can,+,1 ~ tha bonta ~. ..F,a.,- :
- va 80, - ~ ae4 eeo et; =, r.
their deposits 81, ,es9. iIhelr ioans at the
eamei time Were $1o7, ,417 7,9, 925 or SIS 093, ,424
/ greater than capital and 'deposits torether,
~ ~ &, etat.., t.; .hoI1,;ss s;.,,
Neally ~ tne elates n !ae p9on sno" slm1
.fouoWs: Capital S42I ,890O95; deposits
| sose "a 100 :i+o,e+har 'es7s e,, oat,; t7o.no
-; ~; ~ tAoee.As. eo'0'o7"'~', 4oa44s
S99l ,4so, DIV; excess Of LOADS over capital and
deposits &15, ,So3, 1885,; Thus 1tappears that
The banks receive interest on /. iii thatrthey
o"n' anu al t.ia' lucy o"e, AUG sometMng
more. Surely the Interest which they receive
Oh Hhat they owe to depositors: futrht In hc
1,,ao so,,,oo oe ,o~,....,a t.iSI -
naoo . ooutee ~ !s!eAue ~ LIZ government,
lne pfonts ana Hnges OF people who derive
income only from their capital and Industry
Ii taxed. .;i::.4i T.. =.
.Ao,,r. rr;o,r,,,. 1o,,:. ,.,
-, 80 . 4oaneo W panA,
49, 80 Fo77essss' uu7
aei W! Papot eyosem' - 1,la1.ion: II as an a.
tempt to produce something with nothing
putting into the channels of trade value
vb;cb 1F,s never Observation-Disclosures co,np,a-,a
,.,.t ,I1, aa.ar,.1 a,stt,1.~z Thnsa 7o.n. 49, ~
truly % :strmptaa as the issues Of s Egyptian ra an
banks, Of the invisible variety. eLoaning what
~ '.' ~. -. ~ .s.,.: s IS. ".41S
lucy " NJ ~ .ns oanhs hat . afo WmAys u.
ense ~ gt paeA oth* Ws ILL., NY mase
Tie leaI owners when Called Cd led i lpoa "1 es the
~ ~ hseo,na nraar H. ;Ie,,ea, as Is
t;n,. 1oneu ond oacI ctitons nanitaI ~ VI me
uens Mpae5 ann ncauons caR!tat, me same
the4tla ~ ho.,ls 44 yn,.. 10y
oeas ha1rar " aI,d r. ~ bo,ra pn t1tt roshe eae
o;t II * oahaa Sa'5 5.h,oS 10 81
oaL ~. u lne oiuss wnca y no1 taelG; Eac9
clntGnes pnantota, pat anu mere Is WANING aud
snmneMng sm y tssnt a. ~ SsGiy ni.o: A45s nc
es;a eaa pauS' VI aaM aosulelon. 1aaics
~ aaa uIanea. nils ~ hoI ~ ~ pro-
thaee pelso!4s " na1e 9ae lung, u one aud
tne eae tine, III i, ~ 1uI s.ol1 u SUN ocGnf-
:teneGs ~ tAe onheo 9"tes sAoHs tnal tney
~ A!Ms5s nsepuRanieu, auu nssg1aFa!co an
nnn9Iea.1ola, t y tae insane enofts q oeposl-
osnke1 y H. u tts 70 grasp 1no same
TIE WAITS AND MEANS BILL As AMENDED.
Tho Wv. end aFa.o. h,l, h,a bao,, .,,a,a.a
in Comrft,ae If the Who1r ~ fn1,nu.s. :. n
ete,d 81 nf nnthorfz,nr the secrctsM 30 t" ~ ~
#r,h hnw r H.,
~ and sncceedino ascs1 yeors to
IL auu *l1h dao ~ sno1
~ ~ ~ oo.so" <eoovoovo "a tus u so
o.vNv AeA! 5eaf' ~. IL le4raras t4e
plnSlpal o. LUG o oonas: 10 oe pal9
bonds to be mot eMxeeedne' xxi six Per cent. M Der Der
annum; a the bonds to be sold "in such
terms as the Secretary may deem advisablc;'
10 issuc 500, COO 900 instead of $500, ,o0, 900 Of
Treasury notes, bearing 6 per cent. Interest
instead Of SAT IL; 10y The provision author
ling these interest bearing notes to be CON
yerted into coupon or registered bonds at the
pleasure Of the holder, Is stricken ont, and a
clause inserted authorizing the holder to ex-
change them at my time, Ut the office Of the
Treasurer Of the United States, or any Assist
ant Treasurer, for legal tender notes, but no
additional issue Of legal tender notes may be
made under this section Of the bill This is
an important and salutary amendment, ena-
bling persons OF emau capital to loan to the
their money on demand-the interest being
IN all cases paid Ill coin. ~ The section au-
thor1zing the Issue Of $o0, ,O00, 600 Of legal
lender notes Is amended by striking out the
clause authorizing their conversion into six
per cent bonds at the pleasure Of the holder,
THIS was done, e Is understood, In accordance
with me wish Of Secretary Chase, who Is not
Wiling TO "sadd1e the country with long
slx 1ef cent- dept- Inc Wisdom OF striking
ont thc conversion clause y disputed bysome,
ano Y ~ n4I unHsely Fnat u may pe Telnsett-
,,sa. 60 pe1off = the sa n1 oecoes a~ ~ new
seeuon ls ansel1ea, aninof1xing CoHecfors Of
GastoRs 70 IseeNe me coupons q unted
6aSere 1pev hsnay a. ny e 1.n .nlltF aays
ID coin. tol Tho s ahfaunt ~ te & AZ"
gerate Of deposIts, Of bank5 1ssniitar I,ntc,s r.
bilis for Circulation as currency IN Jared ~
pcr cent. per annum. or rather n one ner cen.
tum each half year from and after 1prfl !.
1Sf9', MS already eyn1afued The denos;fs nf
savings banks, and private banks not issuing
1o1es 1or clreuiation, are not taxed. llo)
ffac91onaI currency. hsned ~ corporations
or lnolg1anals, w is ta1ed nvS per cent each half
wear Inc seeuon fepeanng Inc "sub.trea,
tne tta.ei1ai ae.ea.s y 10 tnt ollt lnus Ml.
IN .ns "4ols, ~ ~ ~. oe'ter 1nan "nen
Nam l. eaa'o i'o'a tnc eon''11'tee u ways auo
1ncsns. ,- .,
AHa!ho Ss""oas-ehs' BUTLER AoA1S.
That the policy Of nrming negroes has been
decided upon " nc government, at Me in-
stance q Gen. Haafe6, ana tnat zen Butler Is
gong BACK 10 take eommand ~ New orleans,
have no doubt. Secretary Stanton, as Is well
tor at least sn months past. Gen dalleck'e
decision IN iavor OF Tie same policy, as mil
fary necesslty, mas overcome. WhateTer 0ppo-
sition there may hare been In the Cabinet.
And II any confirmed ,Copperhead In the
North wants to know What Is meant BY "mf1-
itary necessity" @ can tel him: T. means
pcrhead. But the latter would resist, if IN
attempt were madc to take him, and even if
ne snon,a pn an Nc % n on Inc
The determination to send Gen. Butler back
H-fo n$ fn-- 7.