The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-05-05
unless authorised BY Law. nom issuing paper as .

unless authorized BY Law. nom issuing paper a.
carcula ting medium.
bill was introduced by Representative Dawes
today, and referred to the Committee of Ways and
Means which authorizes the Secretary OF the Treas
ury to issue in exchange for legal tender notes OF
the United States an equal amount OF coupon or
registered bonds OF denominations OF $50 or some
multiple Of the sum, redeemabe in coin,
at the pleasure Of the United States,
after thirty years rom date Of issue. and
bearing interest payable quarterly, in such coin
At the rate OF four and half per centum per an
mum. Tne Secretary OF the Treasury may reissue
the United States notes secured, or, II they are
cancelled, may issue United States notes to the
same amount, either TO purchase or redeem the
public debt or to meet the current expenses OF the
public service; and the said bonds and the interest
thereon shall be exempt from the payment OF all
taxes or duties Of the United States, as well as
from taxation In any lorm by or under State,
municipal or local authority, the bonds TO be
payable at the United States Treasury. The
National Banking act Is proposed to be amended
so that the amount required to be kept on hand
at all times, by every banking association, shall be
an average equal to the same amount for and dur
ing any one fiscal year. And all persons are at
liberty to organize BANKING associations at such
places as they shall judge proper, in accordance
with the provisions Of the acts relative to national
banking associations. This act is to take effect
on and after the LIST OF January, 1875.
Proposed Resumption by Congress Of
Legislative Control OF the District OF
Columbia.
Senator Stewart to-day introduced bill pro-
viding for the resumption OF legislative control OF
the district OF Columbia. THIS is the result OF
. conviction In the minds OF majority OF
the members that the AFFAIRS OF the District
should be entirely in the hands OF Congress, and.
Irrespective OF any charges or suspicious, well or
i'll founded, which are now made, they are OF the
opinion that change as contemplated by this bill
viii be for the benefit OF the District
and promote the satisfaction of Congress. which
OF late years has been banished by com peting
political factions and accusations made persist
entity, which have called for expensive and un-
necessary Investigations SO far Governor
Shepherd cannot be said to have been directly
chargeable with anything which looks IKE cor
ruption or dishonesty; but OF that Congress can
take no heed until the whole investigation ia
closed, which, owing to recent developments as to
the Assistant District Attorney and Chief Of Police,
promise now TO be somewhat pr0tracted. Under
the new bill, when adopted by Congress-, 1t
Is thought the Commissioners provided for In 1t
Will be selected from abroad in different States, so
as to prevent the possibility Of any COLLISION or
ring business OF which, 1t Is asserted there would
arise suspicious II they were selected here. Gov
ernor Shepherd, who is SAID to be In favor OF the
bill, will, 1t Is also believed, be appointed one OF
the new Commissioners. The white people OF
the District are in favor of 1t, but the cOlOred
voters oppose it because 1t takes away the deecta-
BILE privilege OF their enjoying the elective fran
chtse.