The New York herald., 1878-03-02
GENERAL WASHINGTON DISPATCHES.

GENERAL WASHINGTON DISPATCHES.
WASHINGTON, March I, 1873.
THE INDoHsED SILVER BILL SENT TO THE SEC
RETARx OF STATE
The Silver bill was to-day sent 10 the Department Of
state by tho Speaker OF the House OF Representatives
Endorsed thus:-
In rHE Houss ov REPRESENTATIVES, February 20,
The President having returned to tho House of
Representatives, In which II originated tho bill on
titled "An act TO provide for The coinage
lis legal tender character" with his objections
thereto. the House OF Representatives proceeded, in
same, and resolved that the said bill pass thirds
Of tho House OF Representatives agreeing to pass the
Clerk Of tho House OF Representatives
The following additional Endorsement was made:--
The Senate having proceeded In pursuance OF tho
consttution to reconsider the bill entitled "An act to
provide for the coinage Of tho standard sill
ssr," returned to tho House OF Representatives,
py the President with his objections and sent by the
House o. to the Senate Of the United
s,atcs with the message OF tho President returning
the bill resolved thas bill DO pass twothirds Of
Attest: GEORGE q. GoRHAM,
Secretary OF the Senate.
THE CABINET sEssIoN-THE SILVER LAW UN-
DER coNsID DERATIoN.
The Cabinet to-day discussed the necessary action to
be taken carry the provisions OF Tho Silvor law
Secretary Sherman 10 to put tho min.s at work
promptly and industriously, ana Secretary Evarts
will as once open correspondence with the govern
ments Of the countries composing the so-calied Latin
Union, and Of such other European nations tho
President may deem advisable, inviting them to Join
the United States in 4 conference to adopt common
ratio between gold and silvcr for tho purpose OF
estabishing internationally the use Of bi-meallio
Av,tv nf th~
bssween those metals.
BIZ THE HOUSE BANKING AND CURRENcx
COMMITTEE.
The following bill introduced by Representative
Phillips, Of Kansas, has rsosived tho approval OF
majority Of the House Bankipg and Currency Com
mitsss and VII, b Ansly acted on ~ the com mitses
next Tuesday. A preminsnt member says the report
in isves Of itepssm9s vii b. nearly unanimous;-
BILL to authorize the issue OF posyai savings bonds
and tor other purposes:-
Be- il enacted, &C.. That any holder OF lawful money
Treasury notes or coin may make deposit thereof
in any sum not less than twenty five at
any time In any postal money order ofice OF the
Unitcd States OF which deposit book account shall
bo kept and . passbook receipt given TO tho
dcposttor, and when such account shall roach
order Office shall issue to such deposnor, froe Of
charge, postal order on the Treasury OF the United
States which shall be IN the form following to w.t.
afford % complete security possible against coun
tcrfeiting or imitation, and shall be printed upon
paper OF tho kind and quality used for United States
notes, ana when presented IN sums Of $40 any mu
pe Of $40 shall De receivable In exchange for bonds
OF the United States OF tho kind and description here
may make deposit not exceeding $40 In any one day,
at any postal money order onlce and receive in cx-
change therefor postal orders equivalent In amount
to such deposit and such postal orders shall be trans
ferable upon the endorsement Of the deposor. And
all moneys received into postal money order oflces
ar
for by tho Postmasters at such Offices under rules and
be sns
SEC. 1.-The bonds herein provided for shall be
called "rhe Postal Savings Bonds Of tho United
Statosn and shall be issued by tho Secretary Of tho
Treasury oi such form and description and accom-
panying coupons no shall prescribe, ard OF the
S:ss osSS Iaa psr ssn
tum per annuin, or ono cent on each 500
for each DAY aSr ID , A1q Of Of the
shall be entitled 70 eceive in exchange therefor
Ut the money order ONCE. whore they were issued,
bonds herein provided for the full face value OF the
postal orders presented Tor such exchange And said
bonds shall also be issued upon application in
change for lawful money Treasury or coin at
the Treasury Of the United States at the occ of
So ro % al ana
State or local. And said bonds shall DO excnangeabe
at par Tor the four per cont bonds OF the
United States authorized to bo issued BY an act
entitled "An act 70 authorize the reiundng OF the
national debt" approved July H. 1870 the inter.
Currency o The Uas.d ss.os .. tRe treasury Of tho
United States or At tho money order ohices where
rom Tho bond a. the s Of Sps
and all coupons rsdeemed at the money order Offices
or received thAEea. IN payment Of postage o. in
10 such oices the samo as money in their accounts
with the Post once ana Treasury departments
And tho postal savings bonds herein provided for,
on presentation at the Treasury Of the United States
or the Office OF any Assistant Treasurer shall be
ior notes Of tine United states with inter
od IN a M m tiOp and fbo
postal orders provided for In the nrst section horeo
| shall be redocmuble In currency on presentation at
tho Offices OF Treasurer OF the United States and
OF the Assistant Treasurer and AZ such postal money
order Offices The Postmaster General may designate
SIC a-The names OF depos,ors Of moneys undor
the provisions OF the rst section oil this shall
be disclosed nor tho srnouut OF their deposits, except
TO proper oihcers OF the Treasury or Post Olco
src AN. moneys received into the Treasury In
pursuance OF this act shall DO applied exclusively
The redem pton OF such bonds OF the Untscd STATES
arc rsdeemable the pleasure Of the United States
ana Secretary OF the Treasury shall call OF such
bonds those that bear tho highest Interest ~
the smc ind tho Secretary Of the Treasury Ia hereby
authorized and directed 70 r. cause TO 90 Pre-.
identical in all respects with tho loyal tender notes,
which shall DO legal tender tor ali debts, public and
private except duties on imports and payment o In
tercst on the public dcot TO the amount OF ten per
| cent OF the postal money order aud postal savings
bonds actually outstanding until tho whole cunt OF
SUCH special issue shall tho sum OF $50 600 0oO
which special issue Of legal tender notes shall be used
wholly and exclusively IN the redemption o the postal
| savings bonds herein provided Tor under such rules
and the Secretary OF the Treasury shall
| prescribe for tho purpose.
SEc 6-Al expenses incurred undor the provisions
Of that act. except as provdsd for by appropriations
for engraving and printing tho public securities, shall
bo paia out OF the appropriations made by the act
July IA 1870 for reunding the national debt And Il
shall be duty OF the Secretary OF the Treasury
tho Postmaster General TO provide rules and rcgula
lions and promulRate the same 10 carry out tho pro
visions Of his act. And they shall require adequate
security from all officers whose responsibility rs in
creased By IT. and shall that tho is increased
from tmc to time the public interests may demand
SEQ 6-All acts and parts OF acts conflicting will
| tho provisions OF this act nre hereby repealed.
THE NEW YORK PENSION AdEHCY-THE PAY
MESr TO COMMENCE ON TUESDAY NEXT.
The amendments to the House bill authorizing III,
President 70 appoint temporarily some onicsr Of th'
pniisd ssssss - psy psnsaons N case Of xaosas,