The West Virginia journal. [volume] (Charleston, W. Va.) 1864-1877, 1869-02-03
Senator S:,rrman'> Financial E:li.


After the vlriou> iinanrial pr"i">i
iiou> Wh;r!, have h'ru rrr>rni'it w"nid
...m 10 haze been >u:!i"irnt'r L.>-
"u>>r,l. wiiE"u; ANY very ~a:i>!Ir!"rl
result. NJ. ~:!rruin !iH> i~;Y"!uc"" .'>
carefully mH;"r,'I :r"I-tr:". with ;tr
enforcement -: tn Senate t":sim!!ir'
ON E;n1nr,. H.. has ;ai:hiuIiy ahmed
in Ir>i>r i I.:.n which VII! >".,". ~
iulv - i'.;>,a! inr; can Il" It. lh'' " h",r
ru;uD.rN pv"h.r'u r".1;l!:." :" Tia" rHr'
r.nrv and li. ;.iii"ur, iH',rH'r'iH'>>.
The rr..-rni rr"i"-;!!"n differs IL
>oin, m.irrial i.";:li- ir":a Ir. Sh"r-
mans t'nuLim" L;.;. IL "r;";ua,iy ~
PORTED ut ,l!r lat session. II, n.a;n
,lrit j ~" >a,mr. |: r"u:' mr.air> u
r,,;rriai reduction O; H." burden ~ '!.''
public debt. - Vr"g"-"d IN TIA" | T"Ei-
nu> bill. alnt ~ ilr >ailr i.;a" ln>"r'>
an arrrnIr:a;i" ui Tie Ea!!"Ea' credit.
,ur,r u r:"rn!>r> 10 bring OR >r'ur:-
ties. in ..ur ,i:u". I" nearly q" Iul;" "
i.ar ,a:ur in "".l. |, w"u!'! bring
specie more :'i,vr?I ini" ejaculation.
no, uuiv hv ir"a.i;i!I:: :"id ""',;:"i>.
,ut a!>" 10y !r"vid'n" i"r tie i>>ur III
uu,r> rr,lrru,,hlr in ru:m. |; AZ" pro-
vide. !uv the conversion nt uu:r> M"
bonds, an. l,ir REVERSE. nniicr rrr!ni"
r..>,r;c;;"u-. Hats ,ru,;inG To incr"a~"
the vait,r -. t;"vrriI:urnt notes. and
>.,rvim" - Il ";irrh a"ain-t to" "rra;
rN;.au>iu" "r contraction u; the c::rG-
l.,iiuu.
M summary, however,. vii; i" jus
,irr ina !G,.;,Silyr ni this Kind. W"
>ubiu;m liz" rnIirr bill, a> reported:
Eei i.n:icl. a.. Tina; any cru:rat: here
a;vr m:r!.. >in,',;i ".;t paya'''' N cor: >fai'
he Ir.ai ami ra!!!, :u,! suav hc c;;::rrl ac-
cnriiu. I, Is terms, "nNthinS IN ;n' several
,..,, rr,a:.u- 20 t'n;cl States notes :" tie
contrary notwithstanding; provided, that
this section shall no, apply 20 contracts FOR
the bnrruw;n. o! currcacv. or I" the renewal
and cx:cn>;ru of IN Indebtedness unlvra con-
,rac: already catered i:.t" unless size; 4 c"u
trac, q: :i.i,:.,y required lsayncut III coin.
S.,. =. Tia, there i hereby appropriated
an, o. ,:,,;rS lcsicl rom m,"rtcl goods the
>u,u q: = iuia u.il,u a,nu,.lv. which SUM-
,,urin: each .i>c:., yta:. <!'a.i IL APPLIED l."
the paya::@, 9; ;n;r::s:. a:"i ,' the :cluc-
ton o! the principal .; the public debt, AMI
Sich rr!rir. :"n >.a. l,c II lieu o! the S'n:,ln"
fund w","Ic,i bv IL? !i;th section OF IN nc;
-,,,,,,i Au AZ, To authorize the i>>ur al
:.-:..,, States no;rS AMI Tor the Tr"Smp''""
iG.r u.lsr"i, a.1i NJ t..niir; rnc idh.'
:.u.. ,:cl; cf I'll: lHitc1 States, approve" Ft"'
4rary -. lH|". -!
Si.. =" ::n.t .nc h",irr y! aiE iaMIu'
u,nrc,. .: tic rni;ro! States 70 the amount OF
~ or any multiple q; S:i't. may convert the
;,linc into bonds for an equal amount, as
i.,c,u provided, under such regulations AMI
,uh.S ~ ,h. Secretary Of the Treasury may
,,rrScrilc; and ,!at the Secretary OF the
Treasury is hsgvhr authorized To issue to
such holder, c"up"a or registered bonds VI
,h. United States, in such form and ut Such
denomination mot less than 500 rs he may
prescribe, rc,iccmahc in com, at the ptcaSorc
Of the United States, after ten years, ana
payable in COIN III forty years. and bearing M
annual n;crc>, oi tive per crat. payable SENT
ANNUALLY in corn, w!tich sail bon'l< shall be
cxcmp; from tax,,ion IN any form. 10y or
un'lcr State. municipal "r local authority;
and the >ain", anal the interest thereon, ami
the inc"mc tlr.ic!ron shall b: exempt from
Inru.1,. ir"m al taxes or duties TO the
United States. ";icr than such inconc taxes
a$ may ic assessed ''lnn other INCOMES
SI,, i. Tha; ~ %"r:r,ary OF the Trrasu.
~ is hereby au,h" I'D ard required TO issue
yold notes Of tho Cni;v,s SSia:c>. 10, bearing
interest, payable to bearer cr demand, in
.n;n, ut the Treasury o! IL" Cr.,cI States.
IN such form and o! $,:ch denomination (not
less thar ten ,lollur>) as he MAJ i@rS.rhc
and such gold notes shall be receivable for a.!
taxes, duties o. debts payable TO the Cni.et
States: and the secretary Of the Treasury is
also au;hornc,! 1T his discretion, to apply
nj amount oi such coin notes, not exceeding
tho .moun, ot United States no;c$ Sur'en'
,crr! .:,r conversion into boalS under the