The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1878-03-02

OIiCS. Lie IOICC db lIic NIlltGCIb IfLlto Will
be increased in order to work the mints to
their full capacity. The die for the new
dollar has been approved, and specimens
struck at Philadelphia are on exhibition
at the Treasury Department. The coinage
at Philadelphia will be commenced at once.
The ResumptiOn Repeal Bill.
The Senate Finance Committee was to
have taken up yesterday the bill for the re-
peal of the Resumption Act but all the
members of the Committee not being pres
ent action was deferred until the next meet
ing.
The Tariff.
The Committee on Ways and Means con-
tinued the consideration of the Tariff Bill.
They adopted the clause relating to spices
without alteration, and reduced the duty
on silks from fifty to forty per cent.
Kansas Pacific Railroad Company.
Hon. Edwin r. Meade, of New York, on
behalf of the stockholders of the Kansas
Pacific Railroad Company, addressed the
House Judiciary Committee in favor of the
adoption of the resolution directing the
committee to investigate as to the condi-
ton of the Government interests security
for advances made to the Kansas Pacific
Railroad Company, now in process of fore
closure, as to any frauds on the part of the
officers or Directors of said Company.
Patent Laws.
The House Committee on Patents yester-
day heard the closing argument with ref
erence to the passage of the bill providing
for revision of the patent laws.
Postal Savings Banks.
The Committee on Banking and Cur
rency yesterday concluded the considera-
ton of the Phillips bill providing for postal
Il 6
ings bonds, and will take the final vote upon
the same at the next meeting The bill as
amended by the Committee authorizes de-
posits in any money order office of not less
than 25 cents, of which deposits book ac-
count shall be kept, and for which pass
book receipt shall be given to the depositor,
who may, when the amount of deposit has
reached the sum of $40, obtain free of
charge postal order on the United States
Treasurer, which shall be exchangeable for
bonds of that denomination. The daily de-
posits of any one person shall not exceed
$40. The bonds are to be called Omitted
States Postal Savings Bonds" shall be of
the denominations of $40, 500, $50 and 500,
and shall bear interest at the rate of 3.65
per annum.
Depositors may receive the bonds free of
charge after five days notice at the money
order office, where their postal orders were
issued. The bonds shall also be issued in
exchange for coin or Treasury notes at the
Treasury or at the Office of any assistant
treasurer or designated depository, and the
bonds as well as the postal certificate shall
be exempt from all taXation-Federal,
State or municipal. The bonds provided
for in this bill shall be exchangeable at par
for the four per cent. bonds authorized to
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and the postal savings bonds shall also be
exchangeable for United States notes with
interest computed to the day of the repre-
sentation.
The postal orders shall also be redeem
able in currency at the United States
Treasury and at such money-order offices
as the Postmaster General may designate.
The names of depositors shall not be dis
closed nor the amount of their deposits, ex-
cept to the proper officers of the Treasury
or Post-otfice Departments.
All moneys received in the Treasury in
pursuance of this act shall be applied ex-
clusively to the redemption of bonds re-
deemable at the pleasure of the United
States, and the Secretary of the Treasury
shall call in those that bear the highest rate
of interest, and shall prepare special issue
of United States notes identical in all re-
spects with the legal tender notes which
shall be legal tender for debts, public and
private, except duties on imports and pay
ment of interest on the public debt to the
of 10 per cent, of the postal money
orders and postal savings bonds actually
until the whole amount of
fifty millions, which special issue shall he
used exclusively in the redemption of the
postal savings bonds.
TO Steamboat Inspectors.
Secretary Sherman has just issued the
following circular:
Supervising and Local Inspectors of
steam vessels are hereby notified that their
whole time must be devoted to their official
duties, and that they will not, under any
circumstances, be allowed to superirtend
the repairs on any steam vessels, or draw
the plans for the construction of boilers or
or act as experts in any such
matters for the agents or owners of steam
vessels, either with or without pay, under
The penalty of dismissal from office; pro-
vided, however, that officers whose salaries
are less than 81 900 per annum may, when
not officially employed, engage in other oc-
;upations that do not approximate their
official duties, when the same can be done
detriment to the public service"