The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1877-11-10
From Washington.
THE REsUMPTION REPEAL.

trough mt once under the pressure OF the pre-
ous question by making it the first order of
he morning hour each day, was trlcked out
' If his supposed advantage by decision of
Speaker Randall that the morning hour con
listed of Just GO minutes, and that on their cx-
)iratlon, the unfinished business on hand must
70 over to next day This enabled the enc
nes of the bill to stave off final action each
norning by flibusterng and of course left the
ill at the mercy of its enemies indefinitely
accordingly Mr. Ewing was compelled to &C
ept compromise, allowing the bill to be re-
urned to the committee and reported back
nth Forts amendment to except from the re-
zeal the free banking clause. In this shape it
,as agreed that the bill should be made the
pecial order from day to day, and be open TO
ebate and amendment until O'Clock on next
tuesday, when the previous question is to be
rlcred and the vote taken on the various
mendments and finally on the bill itself.
BLANDs SILVER BILL.
Under the rule that reports OF committees
re always in order Immediately after the read
lg of the journal and must at once be dis
osed of, Bland got his silver bill reported to
le house ON Monday morning and at once
breed its passage under the operation OF the
revous question. The final vote on the bill
as 1853 for to "a against it, The bill provides
nat there shall be coined at the several minis
{ the United States silver dollars of the weight
{ four hundred and twelve and one.half grains
oy of standard silver, as provided in the act
Jan. 10, 1897, on which shall be the devices
nd superscriptions provided by SAID act,
hch coin, together with all silver dollars
eretofore coined by the United States of like
eight and tineness shall be legal tender at
lelr nominal value for all debts and dues,
ublic and private, except where otherwise
rovided by contract, and any owner OF silver
ullion may deposit the same q: any United
tates coinage, mint, or assay Office to be coin,
into such dollars for his benefit upon the
anne terms and conditions rs gold bullion is
eposited for coinage under existing laws.
POSTAL SAVINGS BANK Bill"
Mr.. Phillips of Kanshs introduced an i'm
ortant bill in the house on Monday for d
'ostal Savings Bank 1t provides that at each
flee where the postmaster's salary is $1,000 on
pplication savings bank shall be established
deposits shall be received at as low an amount
s % cents The amount not 10 exceed 5000
t provides that when 500 is deposited it shall
ear per cent interest, when placed subject to
0 DAYS notice before call 1t authorize the
,sue of 1865 bonds in denominations of S25
so, 800 and 5000, with coupons payable every
lree months, which, on demand, shall be pay
BILE on amounts deposited when called II
rovides for additional bonds for postoffices
here such banks are established and tina
onds may be increased from time to time ant
eaves execution of provision of the act with
be postmaster general; the secretary of thu
easury to issue bonds ON notification of the
Ostmaster- general that more than S5O,OOO,OOt
50 deposited, that amount being held under
lesixth auditor for payment Of account de
bands.
STANLEY MATTHEWS BILL.
While there is no doubt that the Fort Bill u
epeal the resumption act will pass the house
ext week there are grave doubts Of its pass
lg the senate, and in lieu of it that body will
robably pass the bill introduced on Thursday
Stanley Matthews, who claims to be in per
ct accord with the Presidents views on tn,
me subject. The following is a synopsis o
he bill:
Tho hill ,Arnyi1.S t,lof whom nifnf
tates legal-tender notes are returned to tn,
easury, or shall have been redeemed in coir
nder the specie-resumption act of 1915, they
lay be issued from time TO time as the cXigcn
les of the public service may require, or 9th
wise provided. The amount at any time
outstanding shall not exceed $350,000,000 ant
le secretary of the treasury shall not max,
nv reduction of authorized currency by retir
10 United States notes below that sum Tn,
i'll also requires that the secretary, for thu
urposc of redeeming legal-tendcr notes, as pre-
ribbed by law, shall acquire and maintain a re-
rye fund in coin OF not less than 800, 100000
be provided by the surplus revenue
nd sales of bonds. If the coin reserve he re
uced to $50,0OO000, the redemption of legal
nder notes shall be suspended until the re
rye fund is restored to $100,0O0,0O0, but il
lat event holders of legal-tcnders may ex
hange them for United States 4.percent bonds
sums ofnot less than $50. Notes thus redeem
| shall not he rcissued or replaced by other
ntil the reserve fund isrestored to S1OOOOO,O0O
also authorizes the secretary OF the treasur,
receive in payment of any bonds which IN
lay sell under the rcfunding act of 1870, tn
,gal-tendcr notes in lieu of coin, but at no
SIS than the par value of said bonds in coin
IS or with an allowance not exceeding one
alt of per cent. OF said bonds, for expenses
nd he is required to use the legal-tender note
D received, or such notes aS may be issued II
Ell thereof, in purchase of any outStandin:
20 bonds, al price not exceeding their pa
alue in coin, or in purchasing coin for r.
emptiOn of such bonds
MORTON.
Tie senate on Friday of last week, after az
0inting committee 10 attend Senator Mo
PMS funeral at indianapolis, adjourned owe
Wednesday Of this week. The house wa
~ much in earnest over ;hc resumption r,
Ill