, 1874-05-06

Inc currency 1lnkofB arc 1t WORK again. mir.
Butler, Of Massachusetts, has proposed bill
fixing $10 por capita Of tho population ~ min
imun. Of apportlonmont Of National Dank-note
circulation, and authorizing tbs establishment
Of additional banks IN States having loss than
that atandard. In exchange for thin extra bank
note circulation, he proposes to rotirs tho groen-
backs until tho whole amount shall BE- reducod
to $3.50, 100000. Mr. Butler puts "poor.boy"
in his bill by proposing that no National
Bank shall ever recolyo over a-10 interest.
Mr. Dawes has bill authorizing tho Issue Of
no" bonds boaring ~ per cont intcrost, to DO
exchanged for legal-tondors Of tho United
States; tho notes thus received to be issued
again In purchase Of tho public dcht, Of In psy-
mont Of Government oxponsef. Tho snme bill
authorizes FREQ banking. Mr. Butlcr's bill con-
tains variety Of other provisions which do not
change substantially tho foatures we haye
named. Froe banking Is proposed by several
other bills before Congress-.
Tho Benate Finance Committee has agreed
upon bill differing IN many important partiou-
lars from any Of those introduced In tho House.
1t tlxoa tho limit Of tho loRsl-tender circulation
at 4982, 900, 600, which is about tho amount now
outstanding; authorizes tho iasue OF 9184, 900 900
additional banking circulation. aud provides that
lcgal-tenders shnll be retired In tho proportion
Of 100000 for ovory e1,ooo,o 900 of new orca>a-
tfon taken up by tho banks until the total vol
umo Of outstanding legal-tonterH Btal have boon
raduoedto $so0, 100000. Tie bill nannoB Jan. J.,
1877, ~ the timo for tho resumption Of specie
payments. TheBo provisions will he offered for
incorporation in the uouae bill which Is now un-
dor consideration In tho Senate. In case they
are agreod to, tho bill a. 1t came from the House
will DO essentially altered Instead Of FREQ
banking, tho increase Of National Banking cur
renoy in limited, And this can only be obtained
by proportionate reduction Of tho outstanding
legal-tenders. Either Mr.. Buffers bill or Mr.
Dawes bill would be far moro acceptable to the
inaationista IN Congross than the House bill 80
changed ~ to moot tho views Of the Senate
Committed.
prehend that the people who want imitation d.
mol want an increaso Of National Bank currency
they want legal-tonder Treasury notes. The
Argument they use Is that they want green,
backs ssued In sufficient quantity to reduce theil
value to TO or 60 cents In the dollar, that they
may pay their debts 1T that ratio. 70 offer thon
National Dank-notes is = mockery, 10 long rs th'
Ereenbaoka remain worth 80 cents. They uo
only want Treasury notes. but deprecated
Treasury notes, and the greater the depreciation
the batter. Anything else Is Ike offering then
people stones when thoy ask for bread. tn
lowess amount Of Treasury legal-tender note
demanded by any Of Mr. Logan's expansion
organs In this State is = Thousand millions o
dollars, and, 80 far from these people beinl
satisfied with an increase Of National Bank
| notea, they demand that the National Governmon
shall se!So all the national honda deposited by til
bhnks ~ security for circulation, snd, after th
| bank-notes are surrendered, pay for tho bond
in legal-tenders at par They propose that tha
much Of the public debt ahal be paid OH at ono
and "the interest eavod.'' OF courae this /
rank sepndiation. It means violation Of nations
faith. But theae arc tho people whose oham
pions sro Mosara. Logan and oglesby, and shes
| axe tho peopls who claim to bo "the West"