, 1869-03-27


mace In Congress 10 pass bill Tar the
redi.' '1ibuuon Of tie currency before the
close ol the present session. 1shas been,
and Is yet, urged By Wes'ern aud scn,h-
efn members and Senators, and is op-
posed by the New Eng'snders In 50 far |
as it proposes 10 diminish the c'ztula-
ti-n OF Eastern baLks. In order to give
the West The circulation to which II ia
entitled. The bill, As repofted by the
Finance COMMITTEE Of the Senate, on
N.rcs ., provided for taking $1,000 1000
OF National Bark circulation from the
Sales witch haVe III excess over
theu proper proportion, and distrib-
ut:ng il among backs In the
South ard West. When it Is
considcrea upoe what bass the origI-
Ia, apptrtionmsst OF the currency was
to have betn mad, twenty millions seems
IN enEirtly irs1e.uate amcunt to make
pp the efficiency the West. The SIC
Fc.ary OF tie Treaspy ard The Comptrol-
Fer OF the Currency made 3 schedule Of
Fhe Am cunt Of circulation each State vas
Entl'lca to On the l.s;s Of its banking
capital, resources, business and 1cpressn-
ftauve population. o. this basis thsy
|aopo1 ioted to Vermont e2,o99, 900, but
She actually received e5,737, 100; ,hey
spporuoned to Massachusetts gel ,705, 900,
but she had S57,06A. GOO; they appor-
Stoned to Come :ucus S7,2Sa,500. bus 9he
had FL. .4aS, 193, and 80 On toroush nearly
tie Tho'e list of Eastern a.es They
Also appors,oned to 1!linoia S11. 1.85a, 900,
but etc received o1ly s9.Gas.85o; they
sppolticned to Michigan 5000, 500, but
s5e cot only 81, s26 .455 they apporsioced
10 Iowa f4.4l8. 500, bat she Obtained only
s3, ,36c eco, ard SO on through nearly the
whole LIST Of Western Sales. These In
equalitiss would have been yery imper-
ieclly sdjus ed by the cnangipg OF only
Sa0,gC0.0O0 OF circulation !; bus the Eastern
SAus are opposed 10 any foreed d:mi.
nu'ior Of their circulation. A c1mnitteo
OF Best n bakers wtns to Washington
ab-u. two weeks $50 to confer with the
Massachusetts members and Senators to
GeviEe means OF defeating It
Il is doubtless doe to their influence
Lat Senator Wilson, Of n Massaehusttts,
nov IN reduces an emeE0neut TO The
Fna1ce Cumui.tee's bill, authorizing su
iucIes:c ct s50,000,00o Of Ns!ions' 3 .uk
e1eplNioc, to he s.,ibusct among bank
ile ss>: cia,ia:s in The West and 5oush
WL:tL'a amendment: also provides tbs
tie Whole snount o. United States .el
ouss:61 DING shah be Itdu:ed 10 $350,000,
900, aru ths: the agsrega'e Of nation.
crlrGaly ard C1i:ci S:ates notes ou'
ssIdi5g shall not ex.eed 800. .000, ,00(
This woull call f1r The y, hd1awal {
abyn! S6,MO, ,0o0 ci igrceobacks, busweu'
be ~ 1nc1essc Of the aagrtg gate pa2e
mo1ey eiscalL.ian at $4i 600 600, at
would Ut the same t!me reduce The rer
ct1;sge o! greenbaeks In the aegrega1
circulation TO 50 PER cent ins!ead Of
Fer cent Is at p1caeuf. This would be
s.c,, though small ono, in the dl1ecao
Of spe1.c rayments-'tc most fnpor Al
mission OF ,te Eatsooal Banks, and or
which, it they ,u'f1i It, viii be tAls I.
qui1al to The country for tie many 81
raulsgts they have 7eceive5. As Il
rereentage OF Greenbacks TO Nation
Bs1k 10 cs is d:minizhel the coin 1i.bll
df. Of tie government are icssentd 81
i,s ability 10 redeem its potes Increase
TIE baIss Ere 1eqairta to redeem Iii
notes a. all times in As good money as I
co7unpen, psTE, aEd to resume spe'
psynetis HhcneGtr tie governns
corr.