, 1870-06-06
WASHINGTON.
The New Funding Bill.
The Tax Bill as it Went Through
the House.
7 Indian Appropriation BIZ.

brc6Ai Despatch 10 The Chicago TF3,rue
PENDING BILL
WASHINGTON, June 5.-The Funding bill, from
Schencks committee, provides, rs heretofore
stated, for the Issue Of one thousand millions In
four Per cent thirty years gold bonds exempt from
al taxation but that Of income They mar be
sold at par, used In redeem1ng :-e0s, beginning
with those Of 1857. There Is also provision al
lowing the Treasury to pay per cent on gold de-
poHts not exceeding Sl5D 9on, 900, which deposits
arc to be held subject to ten days call, without
draft Interest, til after thirty days, and shail
con5ttute funds for the fmmedl-
ate redemption Of the 1868,
The idea upou which this last provision is baaed
seems to be that It will accumulate gold in the
Treasury: pct the government in the position to
pay its early bonds, and thereby promote the sale
OF the new bond1 or their exshange for.old onea-
The "sys and Means Committee Is not unanimous
IN the support Of per cent 1oan. Secretary
Boutwell, says directly that he fears it will not be
possible to do much With it, and members Of Gar
nelds commine r!l stand BY their proposed ~ per
cent Schencke chances for success with his per
cent project, do not st first sight, sccm to be very
good: but he mar carTt It through 30 AZ to throw
The whole question at issue into the conference
committee.
THE TAX BILL
TIC Tax blu proper has gone through the Honse
substantially az 1t cane from the Wars and Means
~~A-A%*AsA&N1 l+&EPt 0u Lie INCOME tAI question
tnc fa1e Of that duty having, against Scheuck,s 3D.
vice. been 11ed It per cert with the =. 900 ex-
emPSlon II the Senate Should aaree with Tim
Aouae on this point, the Revenue Bureau
eninks the return from Incomes next
year would not exceed *1e,ooooo6. The whole
reduction bs tie bill is estimated
~ ecoeock at forty-0ve millions. which Is about
W. amount recommended by Sherman and his
committee, though It ls reached In different
mnnnef from thar By him auvtsed Manr Sem
atols seem to think we may safely 20 beyond this.
Aha make an aggregate reduction Of at least
1hffy-nrc millions on Internal taxes besides sone
1educdon Of the tarin, and they proposed to
reach the1r end by striking ont the frat thirty
three pages Of Schencks blu, 30 rs to abolish the
whole system Of special or license ta1 Secretary
bout"ell saFs this Is finally done by Congress-.
nc can make material reduction in the number
u pefsons employed In the revenue service and he
WI MAKE some reductions even on the basis Of
eeaeneE's LII, as ndopted by the House.
INDIAN APPROPRIATION BILL
one oi the most important amendments tuade
~ Inc senate to the still pending Indian Apnro-
Frtation bill is that providing for q general conn
GU Of all the tribes in the Inuian Territory. The
z1catics OF 1865 give the Indians the right to hold
this council. although they hare not heretofore
asa'ied themselves Of the privilege. In the pres
ent case 1t is to be called By the Secretary Of tho
Interior, but not except at the rennest |
OF the Cherokeea, Creeks, seminoles and Chnc.
taws and In mn cvent N, .f+ar .hn s.iaH.aS ~uos
~ ~ ~-.a,t s, - 49, , - tue auJou1ulaeat
~ ~ ~AI p'sSea. esae4ou u toug9eRA Ih1s LAST pro-
tho WIS ADOPTED at the instance Of Mr, Ere who
means to carry thr ough hts bill Grating cyil Tar
x1tortsl government mt thero - ~. 49,. 49,.
In MI, a. ,.-,- ,,,.h 49, N,.. - us o.Ea Aaa.,
.s1, ".-A4 +-4c As|sAs4*1 1o1 cue proposed
connch be falls, the council will probably be
held neu fall, should the House agree With the
Senate In making pror1sfon fnr n Fo.t ,s,,s ~
tn h,re nnc dofa.rs.a 49, ~. ~. Iaeu t4oe -
sor oa, non 1.S 1|SAse 0ua ~ aon@ona4 oelegate
1oc eoch LOCO Indians. This ts about tho same
nasls Of representation Is that In Nyes Territorial
bill
Ersrray .ppuoo,,..-,,,
rhA t1o,..s ..1.A.l.n ~ fa4At4oN BILL
.-a ns tsVuse SoAa1haAee Oh APPROPRIATIONS has |
eoAusNuAt CONSIDERED fle Senate amendments to
the General Approximation bill Tbst Changing
fha "~-~>0+@-4 /