, 1876-02-04
WASHINGTON. |
Proposition to Modify Certain
Provisions Of the Re-
funding Act.
The Limit Of the Four.and~a-
Half Per Cents Extended
to Thirty Years.
How Unpatriotic Germans Take
Advantage Of Our Natural
ization Treaty.
Eleven Thousand of These Per.
sons in Fatherland Exempt
from Military Duty.
The Banking Committee Favor
the Repeal Of the Re.
sumption Act.
European Governments Decline to
! Act on Fish's Recent Cir.
Cular.
The InharmoniouB Democracy Again
Caught Mapping in the
| House.
Hale, OF Maine, Succeeds in Devel-
oping a Little Southern
Sentiment.
Gigantic Schemes which North.
ern Democrats Fear to
Encounter.
Hale, OF Maine, Succeeds in Deyel-
oping a Little Southern
Sentiment.
Gigantic Schemes which North.
ern Democrats Fear to-
Encounter.
THE REFUNDlNC ACT.
PROPOSITION TO EXTEND TIE TINE f0R NEdo1nT-
1sn TILE Az FER cEHTH.

THE REFUNDlMc ACT.
rnoposrr1ov TO EXTEND TIE TIME foR NKdoI1AT-
ING THE ~ rER Cent?.
spee.al Dlspatea 70 1hs C'inaoa TTfoune-
WARRINGTON, D. O. Feb. ga bill introduced
in tho nouso by Mr.. Wood for tho purpose of
amending tho Refund,nE not was tho dubject of
careful conalderation by tho Committee on WnSs
and Means to-day. Tho Secretary Of tue Treas.
ury, who had boon requested to givo his opinion
respecting tho provisous Of tho proposed mcas-
uro, replied that thoy generally mot lila approval.
ua is Of opiuton that, should tho tin1e during
which tho * per cont bonds authorized BY the
several Refunding acts hAvc to run DO extended
to thirty years, We would havo no trouble
in negotiating In Europe tbs $500 900 600
bonds bearing this ratio Of interest
which ssill remain. Mr. Wood himself
thinks that should tho life Of those bonds bo s1-
tended large GUMS Of money nhich accumulate
In tho orm of trust fnnds In tho cities Of Now
wheTc, and which aro
CONSTANTLY szEk1No PERMANENT AND sAfE IN
vEsTMenr.
would be converted into these bonds, and that
In thls way tho proportion OF our national debt
held ut lIome by our own citizens would bc gen-
orally increased. In this respect tho Ftcnch
people aro much better Of than 70. Almoat
t43 Gntlfo uept CE6kkeA W sAo 1t"ohO
damnity which tue Governments has to
pay to Germany has boen taken by her own =,
cltizenB- The Committee. although It did not
finish tho discussion Of the bill, will, without
doubt. At an early meetlnR recommend 1ts pas
ssge. The following 10 ..-..-....
THE TEXT or TIE FNcPpaHp ACT:
Tta. In leu Of the 1901. coo COO Of bonds bearing In
terstt 1t the ratio Of ~ per ccntun payable
nuay authorized by tho act Of July H. 1870, tho Heo
reayy OF tho Treasury IL hereby Authortzed for TIT
purpose Of said fefunilnR, 70 tasuo IN sum OF afal
not exceeding In tho aggregate co., COUPON o.
ho may prrscsbe, nud Of the denominations Of Sst
OF sono multiple Of thai sun. redoenabio in oo!n o.
tic preseut standard Value At the pleasure Of the
United States After thirty Jeats from date Of the
Asuc and bearing Interest payable quarterly In suct
coin at tho rata Of ~ per ceneun pet hnnui, Whcs
payEcnt Of Ill ta1ts or duties OF ths United Rates
WUu - from taxation IN any form By or nndsr btasa
municipal local authority and sud bonds shall hav
ret forth and expressed upon thetr tace TIC eoot
specified conditions. and ahall With their coupons.
made payable At the Treasury Of tho unied states.
tlottzn any increase Of the total amount OF beads pro
v!dsd for hy tho acts to which this SCI s an amend
p1eut nor to authorize ANY increase ~h&tevtr ct II
bonded debt OF tho United States. and all provision
Ok Rcts TO which this act Il ameudatoFy uot tnconsst
ent with tho provisions of this Act, z1e hereby COZ
| tlnped In foEco and effect.
It il curious fact that somo Of tho bonds Il
! suen under tho Funding acts bad attached
| thon coupons for only ton yehro. aud these AZ
now held abroad. Tho Government 10 mo-
Obliged either 10 exohanKO theae for now bouds
In which caao they will hayo to ba aent home, Q
tEoAt them ~ registered bonds.