The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-11-12

When the present extraordinary session
of Congress began extraordinary in more
senses than onc-thc Western and southern
members fairly tunbcd over one another in
their cagcrncss to get In their bills for the
repeal Of the Resumption act and the re-
munctization Of silver Exactly how many
Of these bills are now a"cumulating dust
in committee pigeon holes, We cannot
say; but their name j. legion. Differing in
minor details, they are essentially identical
in purpose and scope.
Yet, for all this initial scramble and sour
ry, the Resumption act l. still tobe repealed
and silver j. still to be- rcmonciized.
The SIRIUS can bc summed up in worry
few words. Mr.. BLAND's Silver bill, which
passed the House week ago to-day under
a suspension of the rules and without debate
by n vote of 1863 to "a. is now in the hands
Of the senate Committee. When and how
it will be reported remains TO he seen. al
though Mr.. STANLEY MATTHEWS Processes
confidence that it will pass the Senate and
ro.,,yo the signature of the Fraudulent
President.
The hill reported week before last by Mr..
EwING Of Ohio for the repeal OF the third
md yital-scction of the Resumption act
has been the special order in the lious"
since last Tuesday. but was crowded aside
ON Thursday, Friday, and saturday by the
Army bill The vote Is ordered to bc taken
at 3 o'clock tomorrow afternoon. That TIL"
hill will pas. the House is admitted on all
hands. but its chances in the Senate are not
considered promising.
The first of these measures directs that
! the coming VI silver dollars lof the weight
of il2l grains Troy shall he resumed at the
| Government MINIS. and makes these dollars,
with all the old silver dollars, IA legal
tender at their nominal value for all debts
and dues. public and private, except where
otherwise provided by contract Inc
second. as ~ NOW stands. repeal
80 'niiiicn 81 the third section OF the
RESUMPTION act "a provides for thu
redrmption of United States legal tender al
par in coin on and after Jan. |, 1879 Sew
eral amendments and substitutes have beer
proposed the most noteworthy bong thos'
of Mr. HEWITT of this State and Mr.. Cox %
Ohio. The former requires the Secretar!
of the Treasury to lay aside S5O,OOo'oOo gol'
each year as redemption fund, and whel
this fund shall equal half the entire Folun
Of outstanding legal tender notes to begll
y rcdeeming; the notes thcroupon To cease u
D bc legal tender save for Government dues
5 Mr.. Cox is for a gradual resumption. tn
l Treasury to pay "a cents ON the dollar 70
its notes after next January, ~! cents aitc
l next July, and SO on, increasing half cen
= every half year until par is reached; but h
= is also for leaving S3DO,OO0,O00 legal tendc
u notes in circulation
u OF course Mr.. STANLEY MATTHEW'S Is q
hand with bill Of his own. 1t Is worthy {
his versatile genius. He Is not satisiic
j. with $500. 600 Of legal tender notes. bu
: wants S3jOO0oOOO kept in circulation an
: made receivable for all dues except I'll
u principal and interest of the national deb
:, He would have the Secretary of the Treasur
y required to keep SlOOOOO0OO in coin on han
: a. II redemption fund, and to suspend r.
T. demption whenever this fund sinks
l. 1900. until il Il rcplenished the holder
. of legal tender notes to be entitled to e.
change them for four per cent. bonds OF II
United States. A good deal Of curiosity
felt about the paternity of this rcmarkab
measure. in view Of the intimate relation
~ between It's putativc author and the flau
ulcnt President