The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-11-23

The Numerous Amendments to the Act Re.
pesiinR the Resumption Act.

| WASHINGTON, Nov 22.-Dcbatc on the bill
| ropcaling the Resumption act was worthily
| closed to-day by Mr.. Ewing. who made singu-
| larry clear and forcible presentation Of the mr.
guments in favor of the repeal Ewing received
| attention and drew approval rarely given to any
| speaker. and given to none 9th sA-iurlng the
| present session. and his most patient hearers
were among his opponents. His arguments
had been very fully and very thoroughly met by
the speakers opposing the repeal. but his pre-
sentation Of them had about it the elaboration
of judicial opinion, and he limited rather than
expressed the extreme views in regard to prop
erty in debts which his supporters had before
expressed.
AT the close Of his speech the House adjourn
cd n few hothcadcd men like Blackburn being
anxious to sit out the roll calls on the amend
mcns. The roll calls upon them we'll begin
tomorrow. There are fourteen ofthese amend
mcnts. in addition to the amendment reported
by Mr.. Fort of Illinois. from the committee. A
vote is pretty certain To be had on nearly ali
these amendments and upon the disposition
mndc OF them will turn the ulti innate fate of the
bill. Arranging these and the original bill
with reference TO the sweeping character OF
the repeal Ewng's bill sweeps out re-
ss rnn CONTRACTION OF lcEal tenders and
lust and repeats the Other two: the twelfth
amendment. tby Stcngcr of Pcnn;) only repeats
the resumption day clause and leaves the rest
OF the law intact. These amendments repeal
without bringing in now legislation. or tlios,,
that work "A repeal and enact additional legisla-
ton the most sweeping is Elrn's, the seventh
which repeats aS much us Ewing. resumption.
contraction and free banking, and prohibits the
further issue OF national bank notes behring's
the tenth amendment. dcicrs resumption for
ono year. aud provides for the reissue of
the legal tender notes. but does not make
them payable for bonds or Imports: Aldrirh's
the twelfth, without defcrrng resumption re-
ake4 TN the asn tender r notes p@yaS rom ana
Treasury after resumption. Refers. the NINTH
cnh.is the last only. leaving tho other features
ot the Kcsumptton act untouched. Hubbelrs
the first does the sninp md also makrs green,
bucks payable for duties. Two amendments.
rounds. the third. and Cummings, the fifth
look To resumption in silver; the first fixing
tJJlWp.uOO rs the limit OF contraction, and
the last placing the time ns soon after the date
Four amendments provide new methods for
resumption :Chittendcn's, the eighth by making
legal tender notes receivable for n four per
cent. bond Hewu's, the sixth, by prohibiting
mtion OF gold 10 the amount OF fifty millions,
ana the issue Of Treasury notes and the ex-
change OF legal tender notes for bonds: Rush
ozark 5. hefourtccnth. by limiting legal tenders
ylding Tor their redemption when the Treasury
mas nccumulated two hundred millions of coin
=. ID; CoNs. 10y the gradual appreciation OF the
legal tender notes in its redemption ut sue
c'ssNe prices over term OF years.
Morrison :. the second, requires the banks to
put aside an amount equal to three per cent. Of
their circulation from the gold interest they re-
ceive from their bonds, which IL To- count ms
part OF their reserve and be- a resumption fund
Cummings. the fifth requires all this reserve 10
be held in erecnbacks; Wards. the eleventh. is
apparently intended to deprive the subsidiary
com OF its present legal tender power in debts
due to lahoring men. 1t is understood that
Ewing Will accept Forts amendment: the con-
test Will come on the rest.