New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1866-02-02
AT LAST.

The Committee of Ways and Means yesterday
reported to the House bill to enable the See-
retarv of the Treasury to fund the demand and
early. maturing Indebtedness Of the Government
of the United States. This bill provides:
First That the act entitled IAN act to provide ways
and means to support the Government" approved
March 1865. shall be extended and construed to au'
horze the Secretary Of the Treasury at his discretion
to receive any Treasury notes or other obligations
issued under any act of Congress- whether bearing
interest or not in exchange for description Of bonds
authorized BY the act to which this is an amendments and
also to dispose Of any description of bonds authorized by
said act either the United States or elsewhere to
sucb An amount in such manner and at such rates as
he NAV think advisable for lawful money Of the United
States or for any Treasury notes. certificates OF ndebt
edness or certificates of deposit, other representa-
tyes of value which have been may be issued under
any act of Congress- the proceeds thereof to be used
only for retiring Treasury notes. or other obligations
issued under any act of Congress But nothing herein
contained shall be construed to authorize any increase
of the public debt yided that the bonds which may
be disposed of elsewhere than in the United States may
be made payable both principal and interest In the
coin and currency Of the country In which they are
made payabe but shall not bear rate OF interest ex
ceeding five per centum per aDnum and provided
further that the act TO which this is an amendment
shall continue in full force all its provisions except as
modified By this act
This bill is simple but comprehensive; end
we do not see how it could be improved. Il is
said that part Of the Committee stood out to
the last against the discretion to make q foreign
loan: but. as our securities in large amount
already are and will continue to be held in
Europe, this seems more nice than wise. We
heartily wish these securities were all held at
home; we wish our people were prepared to pay
them off or buy them up; but that is notori-
ously not the case; so what is to be gained by
shutting our eyes to the most palpable facts
We are now paying six per cent. on millions
which the holders would gladly exchange for
long five per cents printed in their own Ian
guage and payable in their own cities instead OF
in foreign country; and why should we not
save the difference We cannot imagine.
The naked truth is that the opposition to this
as to other provisions of the bill is impeled by
hostility to Resumption at all-that u.s. to an
early Resumption. Every one verbally admits
that we must resume some time; but good
many have little operations unmatured where
by they hope to make their pile out OF Currency
Initiation: so they are irrepressible in deyiSing
pretexts and lodges for its Indefinite MAN.
tenance. But for this, the above bill would
promptly pass by unanimous vote.
And now let US entreat Congress to act
decisively on this measure forthwith Industry
and Business have too long awaited the issue.
From nearly every city, we hear complaint OF
the scarcity Of dwellings; but who will erect
houses when one that costs 81 800 to build
now, will be worth but 81 900 when We return
to a par currency Manfcstiy, the country
should know what to depend upon forthwith.
Rents are raising like balloons; Ofhce-hclders
are boring for higher salaries; Farmers are
asked wages which their crops will not pay if
they have to be sold at specie prices; and there
is anarchy on all hands which only return to
National Solvency can terminate. Gentlemen
in Congress, be good enough to let the People
know what they may depend upon with regard
TO the Currency, and at the very earliest mo.
ment