The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1878-03-29
BILLS BEFORE CONGRESS-.

Representative .ERRErr, of Pitts
burgh, has bill to aid parties in estab-
fishing colonies on our public lands.
1t provides that any body of men who
shall organize themselves into colony
of not less than forty families, for the
purpose of settling upon and cultivating
public lands, may issue bonds in denom-
nations of $50 each, bearing interest ut
per centum, to an amount not to ex-
coed fifteen for each family. These
bonds it is proposed to have printed at
the expense of the Government, shall
extend for term of seven years, and
shall be guaranteed by the Government,
which shall have a mortgage upon the
lands and crops Of the colony until they
are paid.
THE House Committee on Education
and Labor has agreed to report favora-
bly, bill to incorporate the National
Iron Molders' Union of the United
States, the object of which is to aid it's
members to become more skillful and
efficient as iron molders to elevate their
character as men the protection Of their
rights in the prosecution of their trade !;
to promote their general intelligence ;
to raise funds for the benefit of sick or
disabled members, and to aid the fami-
lies of deceased members. Among the
incorporators are Thomas Kelly and
James German, of Chicago; Jacob
Kertz, of Keokuk Daniel Foley, of
Milwaukee; A. j. Roberts, of Omaha,
and James Young, of st. Paul.
GAAr>t, hoe an cohaY,aa for
the establishment of a system of life in
surance among officers of the navy by
which any officer, upon the certificate of
a surgeon of the navy that he is sound
in body and in mind, can secure life
insurance policy of not more than $780,
900 from the Secretary of the Navy,
upon the payment of premium to be
fixed by board of officers, based upon
statistics to be compiled from the'records
of the department showing the death
rate in the navy in time of peace. The
premiums are to be paid into the Treas
ury Department, and upon the death of
any officer whose life is insured the Sec
rotary of the Treasury, upon certifi-
cate from the Secretary of the Navy,
shall pay the amount of the policy held
by the person deceased to his heirs.
THE House Banking and Currency
Committee has determined to put all
the currency in circulation that is posi-
BILE. 1t has reported bill providing
for unlocking the reserves of national
banks. The reserve fund of these banks
averages from $50, 600, 900 to 500, 000,-
900. The committees bill proposes
that the banks keep their reserve in 4
per cent. bonds. The presumption is
that the banks would Immediately do
this, and receive interest on the reserves
which they cannot now do on the legal
tenders and gold lying IDLE in their
vaults, and that the result would be
that this large fund of $50, 900, 900 to
800, 900, 900 of greenbacks or gold
would go into actual circulation, thus
increasing the volume of currency.
THE Chairman of the House Commit
tee on Postoflices and Post-Roads, Mr..
Waddell, has reported bill to establish
postal savings depository and to aid in
refunding the national debt It is in
tended as substitute for the Ways and
Means Committees bill, and contains
the entire plan of that bill for refund
ing the national debt. It provides for a
postal savings depository, to be man
aged by the Postoffice Superintendent,
substantially upon the English and Can
adian plans, viz: Deposits of any amount,
from % cento to $780, may be received
at the designated money order offices,
for which depositors will be entitled to a
pass book credit, and also to certificate
of deposit from the Postmaster General.
These deposits will bear 3 per cent. in
terest, and may be withdrawn at any
time on the application of the deposition
or his legal representative. Absolute
security is guaranteed to depositors, and
no charge is made for deposits or with.
drawal, while every facility is afforded
for the convenience of depositors. De-
positors who desire may have their de-
posits, when they reach $50, converted
into 3. 65 certificates or 4-per-cent. bonds
The bill also provides for all the details
of management, and covers all the
ground of the other bills having in view
the popular 4-per-cent. loan.