The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1878-01-12
RilI for Deposit of Savings and Re-
fundinK National Debt.


landing National Debt.
WAsHIEGToN, January 1.-THE bill
introduced in the House by Mr.. Price TO
promote the deposit of savings and the
refanding OF the nstionsl debt authorizes
the Secretary of the Treasury TO issue
certificates of deposit of the United
States of the denomination OF $40, $40,
$50 and, 500 each, which certificates
shall bear interest st the rate Of 3 65-l0O
per cent. per aunum, the certificates thus
issued TO be deposited in such amounts as
the Secretary OF the Treasury may direct
with any designated depository, or any
postmaster OF postal money order office
OF the United States, on the con-
dition that al such certificates so
deposited be paid for by such
designated depository, or postmaster,
within ninety days from the time OF max
ing the deposit in coin or It's equivalent,
or the return of such certificates, or any
part thereof, to the Secretary OF the
Treasury, aid that the certificates issued
rs aforesaid be redeemed only in United
States 4 per cent bonds, and the holder
thereof shall be authorized 10 receive
from the Secretary Of the Treasury
United States bonds bearing in
terest at the rate OF per
cent per annum, when presented at
the United States Treasury, or any
designated depository, IN sums of $40 or
any multiple thereo said bonds being
payable, principal and interest, in coin
Of the standard OF July 4, 1870.
The bill further provides that ali Ma
tional banks, organized and doing busi-
ness under the national banking law OF
the United States, are required TO re
ceive at par and accrued interest all such
certificates in payment of any debt due
said bank; provided, that no isterest
shall be allowed unless the same shall
amount to so cents or upward.
II further authorizes any National
bank doing business under the United
States banking law, to hold at its option
two thirds Of sll the reserve required by
law to be held, in the certificates herein.
before referred TO.
schurz will not Resign
At the Adjournment Of the Cabinet
Secretary SchurB was asked whether be
had any statement 10 make in references
to the report of his resignation. He re-
piled that the statement had no founds'
lion. In fact Mr.. SchurZ said he bad
OF time 70 resign At present, as few
changes in the Indian Bureau will prob
ably be msde soon.
Bill TO Define the Resumption Act.
The bill introduced in the House 10.
day by sir. Sspp, of Iowa, to give con-
strucLlon, TO the specie resumption act, de-
clares that it does not authorize the can
cellaton of the legal tender notes out
standing OF those redeemed on and after
January ], 1871, but requires them 10 be
paid out again sS legal tenders. The bill
also proposes ~ expressly prohibit the
Secretary OF the Treasury from destroy.
ing said notes so n 10 reduce their total
amount below $35O,OOO,OOO, it being de-
clsred 10 be the intent Of the bill TO pro-
vide for the continuance OF that amount
a. a part of the circulating medium.
The Steamboat Bill.
The House Committee on Commerce
to-day, authorized their CnsIrmsn TO re
port back the so-cslled steamboat bill
with the recommendation 70 pas. The
bill IS agreed upon by the Committee Is
amended IN accordance with the views oi
the National Board Of Steam Nsvigs'
| tion.
geuatoF Merrtmon.
The best informed politicians from
North Carolina, says that Senator Merri'
mon will be appointed by Gov. Vance
Chief Justice Of the State in place oi
Judge Pearson, deceased. In such event
the indications are that either W. L
Dorch, OF Colds 1ro, or }. NJ Leacb, ot
Lexington, will be MerrImon's successoI
in the Senate.
Republican taneus at Columbus
COLUMBUS, Ohio, January ll.-Th'
Republicans OF the General Assembly