The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-06-25
TTatslen,'Gulds.
GLn,gtattl.elLItale!altler.
TIE WV ouIsRENcY BILL.

How no helpf 0f ~ AppFOpal b tle ffttl-
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HOMih6igt sB6it1FJ alld RsfthaAtI-
ZskaIata5y 4gest d he Rtis keasare
Iron he New Yok Herald Of fgsstsyl
The announcement tina. President
Grant bad signed tho new Currency bill
created . favorable Impression In this
city. There was no great commolIon, 20
vas. crowds assembled ID Wall stree, %
Discus the probable effects Of the new
bill; but In thsirpriyGts Offices and in The
clubs, restaurants and hotels, bankers,
brokers, bank presidents and msrChAnn
expressed their views Of The measure.
Tho tone oil discussion was decidedly
favorable People who had TO gain OF
suffer BY the action Of Congress declared
that hey were glad that this Troublesome
problem Of legislation had AZ last been
solved without any serious detriment 10
the business inl6FeBA OF The country,
that all danger Of imitation measures
had VaniShed, and the veto Of the Presi-
dent had been-lnpaFt At least-B ustatned.
Many Of the bankeri who expressed them.
selves on the subject CmphAAlzed their
Qualification q the fact that Congress
could, for this reason, at al events, do
NO more Mischief md 4 our honorable
Legislators had heard theepithets which
were applied 10 them 20 generously BY
many Of the most solid men Of the city
they would have come 70 the conclusion
that their Legislative wisdom was not
held In very high esteem 10 New York.
Bono Of the merchants and bank prCai-
dents were rather Indifferent on The sub
ject, and, when called upon to state their
views, declared plumply that they had not
read the new bill, and did not know any
thing about II Ne. A. 7. Stewart was
one OF those merchanta. He was unWll-
ling 10 give an opinion until he had seen
and read the bill. Mr.. SchFeiner, the act
log President Of the German American
Bank, could give no opinion on The sub,
Iect A great number Of tho promlpentI
men who were called upon wete out oil
town, but the views given bOlow.WillBut
Zoe 10 convey an idea Of the impression
which tho new measure has made. "
Nh. eEoRaR oPDTKE's yrEws
Mr.. George opdyke thought the bill
was q very judiciVus one, ait ala not
authorize the iSsuS Of any additional or
the withdrawal Of the present currency.
ut lOAyeS Il precisely where II Is, , he said.
IA very excellent feature OF the bill Is
that 1t legSliEs the issue Of the $4,000 a
900 which the Executive put ont and for.
bids the withdrawal Of any part Of that
issue in the form Of araerve, II seta nee
about t25, 900. 900 Of greenbael9 which
are now Held by the banks aa reserve
for their bank note circulation. This fixes
the volume Of greenback circulation o.
about $50, 900 600 more than II was before
the panic. The provision authorizing
the Ghlitins Of f55 100000 Of bank note
circulation from the States having an ex-
cess, TO the StAtes having; deficiency, a
. good one, although the process win be
allow, on account OF the want Of capital In
the South and West From the fact that
II settles tho volume Of the currency its
eject viii be IAluaIy on the business In
tarestB Of the country, and have tenden.
cy 10 restore the confidence Of the busl-
neSS community When asked whether
the hill was, an Imitation measure Mr..
0pdyk said that Il Rlightly increased The
volume OF ltoulationS and might there
fore b regarded IN that light 3
WHAT M JoSnPH sKnfaNLN sAYs. e >
Mr.. Joseph sellgmGu, who was one Of
the most decided opponents Of the last
bill, thought the effect Of the measure
would DO good. BE deemsd 1t praise
worthy on the part Of the President that
he did not insist on thestriot execution Of
his programme TOR the resumption Of spe.
Gle payment, but endeayored to crafty
the people Of the South and West BY
giving his assent 10 this compromise
measure. The eject would beto restore
confidence, more especially Is tho people
now felt certain that President Grant
would never sign an out,and out imitation
bill, but that no was determined, on the
contrary, 10 resume specie payment %
soon % possible. BE had converted
with many bankers and merchants on
the subject and the bill was generally
viewed IN favorable light. II would
tend 10 give q stimulus 70 business, mas
much ~ ne volume Of greenbAck ctrcu-
lAtion stood q last upon q stable founda-
ton. lt wasla great comfort 70 know
this alter the uncertainty which had ex-