New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-01-23
TIE cREENRACK CIRCULATION.

ruE ELL LIMITING THE GREENBACk CihOoI"ii'"
TO S4O0OC0O00 REPORTED BY MR. DAWES a
COMPREHENSIVE SCHEME ANNOUNCED FOX rho-
yIDING FOR THE WANTS OF THE TREASURY AMI
TAKING STEPS IN THE DIRECTION OF sFf0iE
vvs,rNpT1oN-THE LACK OF HARMONY IN TIE
WAYS AND MEANS COMMITTEE.
tpY TELEGRAPH 10 TIE TRiBUNEJ
WASHINGTON. Jan 92.-Mr. Dawes reported to-day
the Wavs and Means Commuters bill to Iegahze
Che rssne OF the whole OF the S4WOOOO reserve ana
6x the hpft of the gTeenbaCk circulation at Saw
aooOo0 A redeeming clause is inserted IN the last
section of the bill, which saves 1t from the
,npearapce of being wedge to open inc
way 10 future unlimited intiauon ms ciause
proy,des that the total amount Of the legal tender
circulation shall never exceed $4OOCoCOCO and is ~
tended to act as a permanent prohibition upon ali
projects for the further increase OF the currency
While the bill is a crumb thrown to the lnflauoms's'
m ~ far as 1t condOnes Mr.. Richardson's oieDse OF
reissung the S27OO0OOO of the reserve which ne mas
already put a1oat and authorizes him TO 20 On anu
put out the remaining $l700OOM, 1t thus at the
game time contains hook which Mr.. Dawes wants
In fasten in the Jaws of the dangerous monster TO
keen him from doing further mischief.
In reporting the bill, Mr.. Dawes said that he ex-
peoted to make it part of a comprehensive measure
10 be perfected by bills TO be subsequently matured
n his Committee which should, beside fixing and
limiting the volume Of the gTeenback currency, pro-
vide ior the future wants of the Treasury III case
the revenues should continue to fall short
Of the expenditures, and at the same
time authorize steps to he taken IN the
dnection of a return to specie payments. The pro-
pramme thus announced is very comprehensive
one Int from the want of harmony known to exist
Il =. IL IL. . Ipxu &c tn ha
carried out and the probability is that the upshot
Of protraced effort TO secure sufficient degree OF
unapimity to carry weight in the House
VIII be that the members Will agree
10 disagree. and every one will have leave to offer
bIs own financial theories IN the shape oil amend
ments to the pending bill -Four or five viii want to
strike out the prohibition on future greenback
ISSUES: two or three, at least, will move
10 add au extra slOO'OjO,OOO to the circulation;
Dir. Dawes will probably propose to make all
legal tenders convertible into FIVE per cent
bonds: Mr.. Burchard will have a scheme for early
resumption; MI Beck will try to substitute green
backs for National bank notes, and Mr.. Kelley will
bring out his 365 project. The bill was referred to
the Committee of the Whole and subordnsted TO all
Appropriation bills, so that there is no immediate
prospect Of It's being reached fol discussion.
MI Dawes at the same time reported adversely
upon bills for repeating the stamp tax on matches
and bank checks, and these bills, under new ruling
Of the Speaker, were also sent TO the Committee cal
endar for debate, instead Of being at once ordered
10 lie upon the table.
GENERAL PRESS DIsPATCHl
The original resolution TO relieve the monetary
EtriDgency introduced in the Senate by Mr. Ferry Of
Michigan, provides for free banking increasing the
currency to S8CO,GOO00. exclusive of fractional
currency; providing for the issue Of bonds
bearing interest at the rate of C5-1OO
loI cent; the substitution of United States
currency for National currency; the reissue
Of the whole S44,000,0O0 reserve, and the
withdrawal of the fractional currency by redeem
ing IT with silver coin. Mr.. Ferry for the purpose
81 obtainingea vote the question of increasing
tie currency alone, in order TO relieve the pressing
wants of business, has waived the remainder Of his
resolution; but as the question of increase
disposed Of he will press to vote the other pro-
visions Of the resolution.