The Portland daily press., 1876-03-16
WASHINGTON.
Redemption of Fractional Currency in
Silver.

Redemption of Fractional Currency in
Silver.
WASHINGTON, March 15.-Secretary Bristow
and Mint Dire ,tor Lindeman were by invitation
before the House Appropriation Committee to-
day to furnish information concerning the
readiness of the Treasury Department to begin
the redemption of fractionalscurrepcy in silver
coin. After hearing their statements the COM
mittee voted to report the bill for this object
back again to the House tomorrow and ask its
immediate consideration.
The Pacific Railroads.
The House Committee on Pacific Railroads
to-day agreed to report and recommend the
passage of the bill to compel reduction BY the
Union Pacific Railroad Co. of the present
charges of 80 cents per passenger and $40 per
car load for transportation over the Omaha
bridge.
Straw Bids.
The House Committee on Post Offices and
Post Roads this morning authorized Mr.. Lut-
terrell of California, to report for passage bill
designed to prevent straw bidding, the main
features of which are these: 1t provides that in
case of the failure of bidders or contractors the
Postmaster General shall not be obliged to run
up the lis. of bidders until he finds some one
able and willing to perform the service, but
after giving the second lowest bidder the pref
erence if his bid is not considered too high, the
Department may offer the contract to any out
side party at price not exceeding the next low
est bid on the list.
The bill will also provide that no bonds shall
be accepted which do not explicitly embody sat.
sfactory answers to various described interrog
atories relating to location, value and freedom
from membranes of the real estate alleged to
be owned by the bondsmen.
The Democratic Caucus-The Payne Bill
Adopted,
The Democratic financial caucus was in ses-
sion untl nearly IL o'clock tonight, and finally
agreed upon the Payne bill by a vote of SO to
as. This bill provides for the gradual resump-
ton OF specie payment, by making it the duty
of the Secretary of the Treasury annually to
retain in coin an amount equal to per centum
of legal tender notes outstanding to constitute
resumption fund, and also requiring the ma
tional banks to set aside an amount equal to 3
per centum of their circulating notes. Bill in
addition provides for the repeal of SO much of
the specie resumption act of January H. 1875,
as designates the first of January. 1872 as the
date OF resumption. Many anne ndments were
voted down, including that of the minority of
the caucus committee for simple repeal of so
much Of the act of 1875 as fixes the first of
January, 1879, as the time for the resumption
OF specie payments. This received only ~
votes.
Various Matters
Representative Ketchum of PENNSYLVANIA. is
better, though not yet out of danger
1t is believed the Attorney General has sent
a man to Canada after Marsh under promise of
safety, and that he will be back in day or
two.
The President has signed the St. Louis GUS
tom house bill.
The Comptroller of the Currency has not as
vet appointed a receiver for the national bank
of the state of New York. He states that be
prefers the bank TO wind up its own affairs, pro-
vided he is satisfied it is able to pay its debts
There is 10 prospect of the recovery of Hon.
Benjamin Wilson of West Virginia. who has
typhoid pneumonia. He may not live through
ont the night.