New-York tribune., 1876-01-18
NEW FINANCE BILLS.
MIR. HURD's PLAN 10 RESUME, WITHOUT THE PRES
ENT RESUMPTION BILI-PROrOsED REPEAL Oh
LIE RFDISTPIRI HON ACT.

MIR. HURD's PLAN 10 RESUME, WITHOUT THE PRES
ENT RESUMPTION BILIl-PROpOsED REPEAL Oh
TIE REDISTRIBUTION ACT.
WASHINGTON, Jan. 17.-Mr. liurd of Ohio
today introduced the following Finance bill:
Re Il enacted ETC. That and after the first day Of
January 1871 nothing but gold and silver coin shall d"
tender IN the payment OF debts contracted u, rcit.r
the United unless II shall be Otherwise eA-
pressy stipulated by writing; and that the
act entitled An act 10 prov de Tor thc isHpt'h W
specie payments, approved JAN IL, 1870, be ana 10
hereby repealed.
Mr. Townsend of Pennsy ylyania introduced the follow
ing bill:
lie 1t enacted ete, That Section Of the act, entitled
vidiug FOR a Iodisirhution o the National bank cur
roncy, and ioi otter prr"scs approved June ~ lS,-;
DC and the same 10 Lrle4! l'l' ana ,ha. lSi anu
after lhc passage Of t act everv National Bankiu4 A.
suclation organized under the National Bank act ana
supplements thereto IA ctheroi tGe following eies-
Albany Baltimore, Boston tinciunaii 'Lcgo, 'icNt-
Land, Detroit, Louisville, MIlw1ukcc, Nr"-Oi,ahs NeN-
York, Philadelphia, Pittsburgh 81 Louis shn hnc so"'
and Washing tOshall al all times nave "n hand a. la"
least per OF the aggregate anoun, OF circulation
and every other as,oc,g.oi shall at AL times have an
the aggregate amount Of circulation on hand,
and IN balanccs due u any such assoc
alton available the redemption Oi cir CuliuC notes
from any such assOca.on approved ny the N1h' 'o'
oi thc Currency oreahzd 1udcr Inc NitI"na ik & S,'
cities OF Albany. la tII0ic, Bosion, Cincinnati Chea5o'
Cleveland, Detroit Louisville, Milwaukee. "'rietls,
New OrA, Philadelphia, PiitsluIgu, ~. Ions, san
Francisco, aud Washington. MheuoNer tue l"idi
money reserve On hand redemption of circulating
notes any OF tne cities named SHALL be below tie
amount Of ten yer cent OF its circulation and whenever
the lawful money reserve on hnd aud IN associations
IL aforesaid, Oi any other ASSOCIATION shall be below hVO
per mum Of IFS circulation, sucH association s.l not
Increase it's liabilities Dy making any now
loans oI discount, OtI than 10y drcOuntng puf
chasing bills of exchange pay able at sgL hor make any
dividends VI PRONE, uLii tHo required proportion be
tween thc tTcgac amount Oi Is OurtaninS notes OF
circulation aud its awiu money OF the United states
has been restored; ana the Controller Of the CuIIcucy
MAY notify any association whose Lawful money reserve
snail amount above required To- bS kept Oh
hand make good such reserve ana "A buch association
shall fail for 80 days thooditer 10 make good 10 reserve
Lawful money, the Controller may, WITH the concur
renee OF secretary Of the Treasury, appoint -
cyer wind up the business Of tbs association, s pro-
Vldcd IN Section J,3.i.
Provided that clearinghouse certificates, representing
specie lawful money, especially dcpositcG Tor te pI
pose OF any Gear house association, snail also DC
deemed to bc lawful money ia tc iOSscsiOn O ahSO-
Cation belonging To such Clearing shuuAc, AoIuing ana
Owniny such certificate
Both OF the abOyo-namod bills referred to the
Committee Bands and Banking.