, 1876-03-07

THE DEMOCRATIC CAUCUS FINANCE BILL.
The majority Of tho Democratic Congress
sionnl Caucus Committee has ngrood upon q
bill ombodying q plan which processes to
lead up to resumption Of specie Payments
The following ana1ysis by the Cincinnati
Gazette in a correct one:
l. Treasury to ,Ay by in rescrvs gold 70 the amount
Of 8 per cont Of tho greenbaeks rach year.
2 This reaervo to 1,c counted Is part Of Tho sinking
fund for puschase Of bonlx.
O. Banks to lay by In gold to tho a1uount cf
8per cent Of the!r circulation each year.
1. This coln reserve to be counted In their required
lcRnl-t1ndef rc1otvn.
8, This 10 continue till the grcenbaoks "sha
bo appreciated 10 par yaiuo with gold and tAau bo con-
yottblc Into coin."
9. But this gold reserve sla1l 1t limo be Less than
20 pcr cent Of tbs Ereenbacka and of the bauknotee.
7. 10 much Of tho Resumption net - psovtdos for
redemption Of grcenbacks 10 repealed.
9. So mitch Of tho act as required thasithdsawal Of
60 per cent In g1cenbacks for ucw bank circulation
tssuc until grtcuback circulation Is rcluctl 10 $780,,
ooooso ID repealed. that thoro .1la be res'Fu
cnt Of grecnbacks for any part Of tue uew froabank
issuca,
D. No Tina Is n1ed for oAnycrlbilty or scsump-
ton.
IL. Tho resumption fund " In Treasury and banks.
scvcrhy, 1t t!no to 10 less than ~ Eor cont Of
g1ecnhacka and bauk.uosas.
Tho first aud natural question Of the
reader will be, What does tlis bill mean 1s
it fraud, or mere pretonso, ,-somethiug to
bridge oyor Presidential election, aud then
to bo sponged OF tho statute.book as m al-
aurd inpracticability It provides for tho
resorvo by tho Treasury Of 8 per cent IN gold
Of tho Whole amount OF greonbacks for ten
yearB, ar until tho rcsorye equals 80 per cont
Of the groonbacks, or $11o,0o0,00o. This
gold Is to romnin idle in the Treasury while
All equal a1nount Of bonds bearing 6 per cent
which might bo redeemed thorawith aro loft
outstanding In other words, the country Is
to be taxed $1l ,000, 900 yoar in gold md pay G
per cent interest thereon And to do what
Tho National Banks are to lay by gold in
like manner equal to 8 per cent annually Of
thoir circulation, which Is to DO counted Us
| part Of their reserve. Taking the circulation
ut $340, 100000, tho banks aro to lay up
800, 100000 in gold, which is to remain
idlo. II at any time tho greenbaoks attain a
| value with coin, then tho annual rcservo ID to
ba suspended, but must mover be less than 90
per cont. Whether Alr. PANE or MAnx
| fr1v.,u Yrouorad fhia x,art NJ tha hill A1tn
,,a,aas T. :,,at 49, sa.no ~ vii, .aLo
-aas., ..as o. ~. 1872
~ la. a ~ 49, 49, .saox!".;o. ~ ' 1a>' ,
,'... - 49, haa,,a -. ~ Hxaas,, ee1ao,, ~ >
s;,,;a. -. ,,a,,as, -, ...;. ,,s.o. 49, .,,,,,.
1aa.,'.1;.,. a,,-a,.sas as;,,,a.. ~ os1a 49,
its placo tho reserve Of gold must be kept
~ r. 49, ,a. 49, wv, ,a,,". 49,. s,.saas
s ~. .,s .,' w sI ~ ~ - .s."s,,.
~ .e...ss.;a" It.'a., .,.a;' ~ ,"-,":,
~ w. ~ - IN ~ ,;,.a 49, @ sa;.,. ~ 49, .s'
~ ~" -.;Nm -, - go
t;oniata ta,t so 7nnch -nttorlv hevontl tho
roach nj tho hill.ho1acr bi,l-hotdcr nm
Mv;no FIR lin rc,1cmntion of His uota in co;n
fron, Tho millions on hand will ho refer1et]
N tba e,atrto wh;c, comne1a the ban1, n,
tho Treasury " tn keen !" Tint su,n Of 0o1d on
houd. anl thov viii mt violoto Tho law hy
poyino anv n Il mt
Tho biil rtnoala tha finn nxcd for RI.
sumption. rorao,. ,,,o ,v;tt3rouo, ~ rroo,,-
1mcka In t1o nronort;on - IN ,,,r car+ ~ N,
: ;ncroaso of uow hcna c;rcu,o,;on ,,oao mi "a
tire The ureoubocl,g. 5ocu rot nrovi,7o IL,
rorurnt,on ot INV Ina, nn, !. H. ,;n,n",. =,
,,pdoztand vbnt tha hi, ID ,1oos nranosa 1 ho :,
vona tho alstrnetInv md hcor1;na - ao,, 81
thn rata n saa 0{}o ooo n vonr far ~, wv ~ -
Tto r,rnoso n this IN, !. No 49, h.va s T.,
a;.,.n,i ~ IL no,,,;no, - -. ~ e -.
ar;1, ta,vor7a irso1vancv mi, n ~ s.n..a.:
o-a.,, or. ~ With, ,v;, con,o ro,,,'s1;a.,s'