Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1867-12-18

of the stockholders.
Mr.. Hunter providing for the taxation
by states of greenbacks, compound lnteres
notes and national bank currency, for suci
purposes and at such rate as other persona
property.
Mr.. Ross-to supply the place of nat iona
bank notes with greenbacks.
Mr.. Hubbard of w. Virginia-to extend
the provisions of the national banking act
to ali who will comply with its provisions
, and to restrict the issuing of notes to two
thirds of the capital stock
Mr.. Mavnard-to compel the national
banks to redeem their circulation in coin
after May l, 1868.
Mr.. Van Wyck-to' revoke, in certain
cases, the order appointing receiver for
national banks and restore them to their
owners.
The above are all the propositions re-
latinc to nationel banks now before Congress
believe and it is easy to see the tendency
of them all Generally they are restrictive,
but one or two enlarge their powers
Mr. Edmunds' bill, on which he made
such an effective speech last week, provides
that the public debt unless where otherwise
specified, shall be paid in coin.
Mr. Banks forbds the redemption of the
funded debt in paper.
Mr. Eliot pledges the faith of the United
States to the payment of the primer pal ana
interest of the FIVE twenty bonds in coin.
Mr. Butler on the contrary, provides that
the public debt unless where otherwise
specified shall be paid i'll currency.
Mr.. Lynch wishes, in order to provide
against undue expansions and contractiOns
of the currency to authorize the issuing of
three hundred millions coupon bonds pay
able in lawful money, on demand, bearing
interest at the rate Of five per cent. per
mum payable quarterly in coin, said bonds to
be paid in twenty years in coin.
Mr. Williams of Indiana proposes To issue
eighteen millions, six per cent. gold bearing
bonds redeemable in twenty years and pay
able in fifty years, subject To a national tax
of one per cent t. be deducted on payment
Of the coupons and paid over To the states in
which it is collected. IN lieu OF state taxa
ton taxes collected bonds held out of
the country to be funded Conversion of
outstanding issues int this l. optional Wit h
holders. but should any refuse, their bonds
are to be redeemed. in com oniY when specified
in existing laws This bill further provides
for the issue of legal tenders to national
banks in lieu Of their notes. and for the can
collation. of the latter, and Of the bonds held
a. their security.
Mr. Bromwell proposes to purch ase and
destroy monthly. bonds TO the amount of
four millions at market rates. Mr.. Fla
proposes ten forty five per cent loan gold
bearing and taxable at one per cent
Mr. Brownau proposes that the Secretary
of the Treasury shall commence at once to
redeem in coin all legal tender notes present
ed in sums not less than : 100, at the rate of
500 coin for 40 currency, and decreasing
the amount in notes - cents each month,
until par is reached.
MIR Lynch proposes to destroy all legal
tenders received at the Treasury after March
LIST 1865, and 70 issue in their place note,
payable after one year. on demand, in coin
lie also proposes to issue bonds to borrow
gold if necessary for the purpose.
Mr.. Corbett desires t. put in circulation
notes payable In coin equal to ninety per cent
of the coin in the Treasury T. sell to the
highest bidder seven millions OF these coin
notes monthly after Feb. 18th, lS6S . still
retaining the legal tenders in circulation,
but forbidiing further expansion Of them.
lie provides that the coin notes may be held
a. a reserve by banks, and that persons re
turning income in coin shall be taxed in the
same
Mr. Bromwell offers proposition fayorins
exclusively of notes. Ignoring com.
Messrs. Bingham. Egglc-ton, Schcnk and
Brooks urge the stoppage of contraction, and
Of the funding currency III gold hearing
bonds
Mr. Hooper desires TO limit the revenue
and expenditures Of the government to three
hundred millions
Mr. Wilson of Ohio desires to authorize
states to tax the non interest hearing L ;
notes
1t is also proposed to reduce internal taxa
ton greatly, by removing entirely the tax on
cotton, excmpting all incomes under &, 800.
and revising the Old laws by making a few
articles pavail the tax. and seeking to remove
the temptations te cvadc the law. now So
strong.
There seem, also t. bc a determination in
congress to practice the most rigid economy
md lessen the expenses of the government in
very possible way.
Much is said against the purchase Of =.
Thomas, and it il hardly believed that the
realty made by Mr. Seward viii he ratified d
I certainly i a matter of doubt if the bcne- p
it t. result from such purchase VIII at this
ime Toe worth t. us seven and one half mil
ION dollars. our former experience with
his island, eliminating ii did in the los
# one man-ofwar has convinced the sena- I
ors that we DO not need an earthquake. hat r
hat its purchase would bee only more foolish
han that of Russian America.
We have been sharing your heavy storm. ,
nd to-day the slrighing i said to he better
han for years before