The New York herald., 1876-01-18
GENERAL WASHINGTON DISPATCHES.

WASHINGTON, Jan. II, 1876
CURRENCY BILLS INTRODUCED INTO THE HOUSE.
Mr.. Hurd, OF ohio, to-day introduced the following
BILL
Be enacted &C. that from and after the lst day Of
January 1871 nothing but gold and silver coin shall be
tender in the payment OF debts contracted thereafter
within the United States. unless 1t shall be otherwise
expressly stipulated by agreement in writing; and
the act entitled IAN act 10 provide for the resumption
OF specie payments approved January ID 1875 be and
is hereby repealed.
Mr. Townsend, OF Pennsylvania, introduced the fol-
lowing BILL
Be it enacted &c, that section of entitled "An
act fixing the amount of United states notes. provid-
ing for redistribution of the national bank currency
and for other purposes approved June 90 1874 be and
the same is hereby repealed that from and after
the passag6 of this act every national banking associa
tion organized under the National Bank act and sup
plements thereto in either of the following cities
Albany, Baltimore Boston, Cincinnati, Chicago. Cleve-
land, Detroit Louisville, Milwaukee, New orleans,
New York, Philadelphia Pittsburg, St Louis,
San Francisco and Washington, shall at
all times have ON hand In lawful money
OF the United States amount equal TO at least ten
per cent OF the aggregate amount Of circulation, and
every other association shall at all times have an
equal TO at least five per cent Of the aggregate
amount Of circulation on hand and in balances due to
any such associate available for the redemption Of its
circulating notes from any such association, approved
by the Comptroller OF the Currency, organized under
the National Bank act or its supplement- and doing
business in either OF the cities OF Albany, Baltimore,
Boston, Cincinnati, Chicago, Cleveland Detroit,
Louisville, Milwaukee, New Orleans, New York,
cisco and Washington. whenever the lawful
money reserve on hand for the redemption of
circulating notes in any Of the cities named shall be
below the amount OF ten per cent OF It's circulation,
and whenever the lawful money reserve on hand and
in associations aforesaid OF any other association
shall be below five per cent of It's circulation such
sociaton shall not increase its liabilities by making
any loans discounts otherwise than by discount
ing purchasing bills OF exchange payable at sight
make any dividends OF profit until the required
proportion between the aggregate Of its
standing OF circulation and It's lawful money OF
tba rpfa Gfafaa haa bnan an1t thaf
troller OF the Currency may notify any association
whose lawful money reserve shall be below the amount
above required to be kept hand 10 make good such
reserve and II such association shall fail for thirty
days thereafter TO make good its reserve OF lawful
money the Comptroller may, with the concurrence Of
the Secretary Of the Treasury appoint receiver
wind up the business OF the association provided
section 5,324.
Provided that clearing house certificates representing
specie or lawful money especially deposited for the
purpose OF any clearing house association shall also DO
deemed 10 be lawful money IN the possession OF any
ASSOCIATION belonging such clearing house holding
and owning such certificate.
Both Of the above named bills were referred 70 the
Committee Banks and Banking.
GENERAL BEAUREGARD's APPLICATION FOB A
REMOVAL OF HIS POLITICAL DIsABnrTIEs
The following is the letter OF General Beauregard
applying for the removal Of his political disabilities
which presented in the Senate day by General
Gordon and referred to the Judiciary Committee:-
OFFICE THE NEW ORLEANS
AND CARRoLToS RAILROAD COMPANY
NEW ORLEANs Jan 9, 1915
DEAR GENERA1~-My friends here, believing that I
be OF service TO the State of Louisiana by becoming
a member OF proposed Lcvee Board OF Comm IS on.
ers, have EXPRESSED desire that | should apply 70
have my disabilities removed that there should be
no doubt OF my ability to bold State appointment
beg you therefore, 70 have the Kindness TO TO
Congress this, my application, for the removal Of my
G. t. BEAuREGARp.
General J. B. GORDON Z. S Senate, Washington d. C.