New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-01-31
THE CURRENCY QUESTION.
TIE PROPOSITIONS FOR SPECIE PAYMENTS IN IHf
WAYS AND MEANS COMMITTEEMAN. 4. IL
RoBKRTs's BILL
TBY TELEGRAPH TO THE TRIBUSE.l


WASHINGTON, Jan. SO.-The prolonged de-
bate IN the Ways and Means Committee over the various
propositions for financial legislation submitted by Its
members has notSresulted IN anyiaereement 1t may
now be regarded almost certain that majority OF
the Committee cannot be got tn favor any important
amendment to the &iO0OOO,OO0 bill, and that four
or five amendments will be offered when the
bill comes mp for action by as many different members
OF the Committee. II is encouraging indication OF
the progress of conservative ideas on the currency
question that of least three Of these amendments
will have for their leading feature some plan
for resumption. Mr. Dawes's plan. already printed Is
TO authorize funding Of greenbacks In i've per cent
gold bonds and Is substantially identical with that OF
Senator Sherman. E H. Roberts proposes TO use the
gold set apart sinking fund TO purchase and cancel
until the remaining legal tender circulation
shall be at par with gold aud TO resume the operation
whenever the greenback falls below THIS would be
O empIe measure OF contraction were II not TOT pro
vision authorizing Of National bank notes to
the amount OF the ereenbacks retired The following
Mr.. Roberts's bill In full
Ah for ID. maintenance Of the credit Of Tie United sa,ea
BE Il enacted, de-. That the total amount OF unitea
100000 but that amount may be reduced az herein
after provided. -, -
mencing with the day Of July 1874 with the coin set
apart rs sinking fund according To the provisions OF
opsp market iesatender notes on the first wednesday
OF every month except September OCTOBER and Novein
ber
the shall be equal 70 oentum OK the entire
debt of United States and tho Secretary shall con-
tinue such purchases until the legalender notes re-
manning circulation shall be and remain at par with
cold when SAID purchases shall cease and whenever
sad legal notes shall again fall below par In gold
sucb shall he resumed and continued until the
legal tender remaining In circulation shall be ana
remain at par with gold. when said purchases shall
cease. -. =, - - a, -.
SEC g. That Secretary of the Treasury shall set
apart for the sinking fund.- In lieu OF said legaltender
destroyed amount equal III par vaine tnerco
Of the bonds OF the funded loan held by him unscd
bearing highest OF interest," authorized oy tue
act Of July 1870; and these bouds shall lie bed ana
devoted the purposes and In the manner required ny
Section OF the OF Feb. 10, 1861 Pr0rded, Ihat
nothing IN this act contained shall he construed 10
reduce the amount OF ssid sinking fund.- and whenever
shall have been passed such lie gal
tender notes shall be Cancelled and DESTROYED aud sha
not reissued shall other United states notes
be issued stead but the total amount OF United
states shall be permanently reduced TO the extent
Of such purchases. -
SEC That amountlof National bank circulation. AZ
now limited by law, may tie Increased TO the extent OF
OF egatender notes, made In pursuance
of tue preceding section. and whenever United States
shall he and remain at par in gold the operation
all and parts OF laws limiting the amount of Ma
tonal bank circulation shall cease Proe'ded That only
bonds Of the funded loan OF the United States author
tied by the act Of July H. 1870 shall be hereafter De
the Treasurer VI the United states In pledge
the aud redemption OF such Circulation ana
OF circulating notes to be furnished 10 eAc
association shall be equal In ainonnt TO the par value OF