New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-11-01


OF the 116 WHO voted in the Affirmative. and VINO
desired to bury the bill in Committee where Ut conId
not be easily reached % were Republicans ana
81 were Democrats OF the negative votes when
REPRESENT the strength of the anti-?eSumpil0nia's
81 only were Republicans, and l01 were Democrats
The result of the vote to-day was evidently dSap
pontment TO those Representatives who are most
urgent for the repeal of the Resumption Act 10 be
sure il was not a perfect test OF the strength OF to
TWO parties in the House on this subject some of
those who voted III the negative would probably
oppose the passage of the bill were they called upon
TO vote on its merits, but were Wiling 10
allow the sense Of the House to be tested upon
the subiect. The 116 men who voted in the
affirmative to-day are probably not the only ones
who are opposed to the repeal OF the Resumption
Act. On the other hand, Il few VINO N0tcd III me
negative. did 50. not because they are opposed I"
some legislation amcudatory 81 Inc resumption
Act huf because the measure proposed was too
sweeping. and disposal Of 1t IN such indecent
taste was, III their Judgment, uhW'se' ~ t1e
matter now stands the motion 10 reconsider the
vote by winch the bill was recomntted 10
pending before the House, AMI VIII come mp as
unfinished business the first time morning hour
again occurs in the House. 1T IS therefore, 10 DC e&-
prcied that final disposition VIII ne ma &c oi
this subject within the II Xt few day, unless the
Committee on Appropriations should occupy all the
time. The friends OF the Oil expect MAJ F"te
upon IT Tomorrow. -.
Later: An interesting question has arisen this
blll ropealng the Sd section OF the Resumption
Act upon the laws that We're repealed by that sec
ton. These were the laws limiting thc Nolhihc OF
National Bank notes to $3J4 OOU,UOD ana piONld-
inc for the distribution of National Banh
currcnc, among the States in proportion to her pop
uIafion and wealth Section II of tine Revised
Statutes declares that whenever an act Is repealed
winch repealed former at, such Tor lcr ACT sh"l
not thereby be revived unless 1t shall be expressly
At the first glance it would seem rs though the
passage of the Banking and Currency Comm tees
bill would leave ban KING free rs 1t Is now WI IN no
limit 10 the issue OF bank currency ana no retire
ment of grecnbacks. This viii be question Tor the
lawyers 10 settle.
At the meeting of the Banking and Currency
Committee to-day, Mr. Fort voted with the MINORITY IN
favor Of General Ewirg's b hut against them in regard
To reporting to-day. Mr.. Fort stated that lie was in
favor of amending the bill as TO exempt from the ro
posed repeal all that portion Of tne taIrd section which
provides for free banking. After the committee had
acted the question OF reporting this Dill Mr.. Ewing
submitted motion to proceed Immediately to the
sideration OF his bill for toe reconciliation Of the
old silver dollar. MraChtenden, OF kewlOIk, raised
the point OF order that the hour for the meeting If
the House had arrived. and the committee could
fore no longer Remain in session. Tie point Of order
sustained and tue committee adjourned without further
action.
The third section which the committee propose to
peal is IN following words:
That section 5,l77 Of the Revised Statutes Of the
United States, limiting the aggeg"e amount OF circu-
ug NOES Of national bdnaug associations, be and u
lcreny repealed and each existing banhmg ASSOCIATION
may increase Its circulating notes III accordance with
existing law Wlthuu, respect 10 huci aggregate hllt,
and new banking associations may DC Organized in
coriance with existing law, Without regard 80
the said aggregate nun anu lhe pfoVIs-
IONS of law Tor TIC withdrawal ana redistribution
OF National BANK currency amohs he several stats AID
Territories are hereby rcpeaicd ana Whenever ana
often circulating notes shall b. issued 10 any snch
banKng associaOn increasing It's Capital or circuat
lns notes, or 50 newly ofta%1 ~ "lo9"u, IL siaI
b. the duty OF tho secretary II the treasury 10 re-
duce bartender United states notes IN excess 0ny
OF $500 100000, thc amount 0i 80 per ccnt OF the
SUN OF National Bank notes so issued To any such
redemption such circulating notes are Issued untii
there shall he outstanding the sum OF SJOoOJo
no ulOc aud oil and aiicI tIe LIST day OF January A. d.
1879 Secretary OF the Treasury shan redeem In coin
The United stacs legal tender notes tnen outstanding,
GA rr s,rg of Inc IIn,tcd states in tIe CIV OF
Ne.-Y0rk III sums OF not less 500; aud TO enable
the Secretary tue Treasury To prepare and provide Tor
redemption IN tins act authorized OF required. ne -
aut.uriz q TO any surplus revenues from time 10
time Treasury and not otherwise appropriated,
and issue, sell, aud dispose Of At NOT less man Ia
CON- either OF the description oil bonds OF United
described Ia the AGA OF Congress approved Jul,
tne national deDt," with IKE qualities. privileges
empions 10 the extent necessary t. carry ts Act INTO
and TO ure the proceeds thereof or the PURPOSES
aforesaid ana all prov siOns Of law inconsistent
provisions Of tnis Act are hereby repealed
The committee do not interfere with the first and
second sections OF the Act winch Is follows:
That the Secretary Of the Treasury herebyauthorzod
and required as rapidly as practicable To to be
coined nute OF tue United States silver CONS oi
the denominations OF ten. twenty twenty and nfty
cents OF STANDARD value aud To issue them the redem
ton equal number amount of fractional cur
rency Of similar denominations at mis- discretion he
may issue sueh silver CONS through the hntS, the Sub
Treasures Pubic DepOsitOrcs, aud Posi- Onces
United s,as; and upon such issues he hereby au-
tnOrz,d and required 10 redeem IA equal amount OF
fractional currJAy until the whole amount VI such
fractional currency outstanding shall be redeemed.
Tnst 50 much OF section 1924 OF the Revised Statutes
of the United States provides for charge OF One-fth
Of one per cenun for converting standard gold bullion
into Is hereby repealed, and hereai or no charge
shal be made for that service.
The friends of repeal that they wi have than
tveutytyo majority on the fnal vote, which was the