New-York tribune., 1878-04-16
MR.. UILLISS FINANCE BILL.

A SOLEMN PROCLtMNTION TO THE PEOPLE PROPOSED
AND AN ORDER TO MR. SHERMAN TO GO AHEAD.
IBr TELEGRAPH TO THE TRIBUNE.l
WASHINGTON, April 15.-Mr. B. A. Willis, Of
New-York, offered a bill in the House to-day pre-
posing to put an end to all uncertainty on the ques
ion of the finance legislation of this Congress, and
to put forth every effort from this time forward to
make resumption success. The bill is as follows:
Whsrsds The promssUry notes Of the Government
known greenbacks have appreciated until their value
gaugrd by tbs highest AMI most potential measure OF
value known 10 commerce ls less than per cent Oe
whereas such restoration Of value implies the exist
OF supreme faith In The honor ana integrity Of the
National Government. which heretofore. owing 10 nfa
been wanting OccasiUnng thereby depression OF busI
ness and paralysis energy without parallel In tho ex-
nigh universal bankruptcy and want; and
Whereas, 10 mako resumption on the 1st day OF
January assured success ana to cause an ume-
datc revival Of prosperity, IL IA necessary To relieve the
people Of apprehension engendered by guorant and Ill
lined drcla -atOns that resumption II Impossible;
therefore, To the end that capital relieved from dis
trust shall seek investment IN The Inauguration OF new
and the prosecution Of neglected enterprises thereby
giving employment and content To thousands ana tens
OF thousands now ile ana needy tnat tne @ III
arrangement by legislative assaults upon the integrity
ana ability the Government or iladvlscd appeals TO
nfame class against class, characlerzng the public
creditor IA public enemy; that the secretary Ot tue
Treasury may, with readiness, procure q tuud ample
for resumption and mud. expeditiOusy, the interest
Gearing debt into bonds bearing interest at the rate OF
pcr cent thereby yielding relief to the labor of the
country now harsiy burdrncJ by taxation
Be Haeed etc. That the President of the United States
be and is hereby directed make public solemn proc
anaOn that 1t Is the firm determination OF Congress TO
enact further laws affecting either currency or
finances until specie payments shall have been success
fully resumed by the Government.
SECTION H. That the Secretary OF the Treasury be
ana lac s hereby authorized and directed 10 prepare
bonds OF the United States, either coupon registered
10 an amount which may be found necessary for carrying
into provisions o. this act said bonds TO he OF
the denominations OF $2O $50 and 500, any multiple
thereof and 10 be payable IN standard coin at the eXp
ration OF forty years from the lst day OF June, 1873
SEC. Ill mat said bonds shall bear Interest at the
rate por cent per annum, payable In gold sCmi-al
nuay and shall be exchangcabc at not less than their
face into any United states legatender notes
their presentation for that purpose that said bonds
sha be available for deposit by National banks
inv for their circulation and other Liabilities to the Gov
efnment under the provisions OF the various laws rela
Ing TO National banks
SEC ". That all the legaltender notes received In
exchange for the bonds to be- Issued under this act sha
destroyed under such regulations MS the Secretary OF
the Treasury may prescribe.
SEC " That the secretary OF the Treasury be and he
hereby Is directed avail himself OF all the resources,
aud all the powers conferred upon him under
and by virtue OF the act entted An uct provide for
the resumption OF specie payments approved January
II, 1878,