, 1876-04-07
TILE FINANCES IN CoNeREss.

There are now before Congress large
number Of bills having for their purpose tho
settlement OF the financial aud currency
questions. It nay not be uninteresting To
briefly rccapitulate solne Of the features of
these measures.
Mr. HOLMAN, Of Indiana, has bill to COM
pei the retirement Of thu circulation Of the
National Banks ut the ratio OF s per cent u
month, and the issue Of corresponding sum
Of greonbacks; thcso greenbacks to be lawful
money md legal-touders as arc the other
greenbacks. AIr. HOLMAN is candidate for
the Goyernorahip Of 1ndana mud riyai of
tho notorious LANpEns, and something must
bo pardonea to tho necessity which one dema-
gogue has to outbid an opposing ono. LII.
HOLMAN knows TINT there il q solemn con-
tract that tho amount Of logal.tender notes
ahall not exceed $400, 0,0O0, 600, and hs il also
aware that bare minority Of the Supreme
Court could only be obtained to hold that tho
making Of paper notes alegal-tendor was con-
stitutiona1. on the sole ground that tho neces-
aities Of tho untion at the time rendered al-
most anything legal TINT was considered es-
sential to tho safety Of tho nation. But AIr.
HOLMAN, who il Democrat, proposes to vio-
late every tradition ond dogma Of his party
by making tho Government d manufacturer Of
rag-,noney -i7cdeemabla paper. h1r. HOLMAN
los another bill to repeM tho law for resump-
ton Of specie paymonts.
Mr.. J. RANDOLPH Tuukkn, Of Virginia,
has q bill ponding substantially for tho es.
tablishmont Of National Bank.Ex-
clequer, rs ho calls it, with capital Of
n hundred millions Of dollars, having
branches in an the States Of the Union,
and authorized to do gencrnl banking buRi-
ness, with IN issue department, the circula-
tion to bo two hundred 1nillions of dollars,
secured by onc.fourth gold aud throc.f .fourths
uational bonds. This measure contains at,
excellent principle but, instead OF one na-
t'oual bank viii, branches, tho sa1ne result
could bo attained in less dangerous aud 1,tl-
Objectionable manner by applying tho pzin-
ciplo To tho present system of National
Banks, leaving banking, as now, FREQ to NIL
who may wisls to engage in it.
Afr. 1.1np1E, Ut Tennessee, las bill to
issue $G5,ejS,3 800 Of lcgal-tontlera, to bo used
to "pay" that number of 6-2O bonds OF tho
issue Of 1862 In other wortlB, AIr. 1.1pp1E,
who is Democrat, proposes to take up and
puy IN intorost-bearing noto with non-
Understanding note "ir1odcemable at my
time.
Dir. DElonr, another Democrat from Ton-
hessec, has Il Rcleule for the lssuo Of green
backs to IN indu0ulto amount with which to
pay oil tho dobt md mike things generally
anl the dobs especially matter Of trilInp
consequence"
hlr. LAspE1s, an Indiana Democrat, has n
comprehensive schemo to issue lcyal-tendor
Moncy-tot notes, or promises, but paper
money stamped as money nnd rcuuirit,t, no
redemption. This money u "foundud m
tho fnith aud resources OF tbs natiop." 'rhe
paper is to simply bear tho legend, "Tu,s ~
TEN noLIAns," and that IL To bo tho end Of it.
Gold is to be de1nonetizol, aud tho psper
money IL to aupersods all others. On this
platform Mr.. LANpEas Is candidate for
Governor Of Indiana, nominated by the paper
money party, and expecting the support OF
the Democratic party.
Senator Boox, Of Missouri, who Is pros
pecnve candidate for the Presidency, pro-
poses that specie payments be brought about
by making yeenbacks receivable for CUSTOMS
duties; whom that Is done, he thinks the
holders Of gold will be compelled to sell It to
the Government for whatever the hitter
chooses to give for 1t.
Ms. PAYNE. Of Ohio, q Democrat, has a
bill requiring the Government to collect ton
millions In gold annually by taxation, and
hoard 1t In the Treasury until 1t amounts to
sic, 600. .oooi and then, on the assumption
thst the greenbacks will circulate at par, to
keep tho gold unused. In the meantime m
equal amount Of gold bonds bearing per
cent interest ars to be kept outstanding. The
sams bill proposes that the banks shal hoard
gold In the aams way. HI. BuzouAap, Of
1liiaois, Republican, hs = bill propoaina