The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-01-08
SAYINGS AXD DOINGS At THE CABINET MEET.


All the members of the Cabinet were
present to-day except Postmaster General
Key. y large amount OF routine business
was transacted and the condition of the
finances OF the country again discussed.
All expressed qualification at the sucreSs
so far attending the resumption of specie
payments, and saw no reason whyit should
not be maintained successfully.
Secretary Sherman called attention to
the fact that the Treasury now holds a
large amount Of gold, silver and green.
backs; much more than there il anv use
for at present. Reference was also made
to reports from all parts Of the country
that resumption had given confidence to
business, and that, both at home and
abroad, business seems To be stimulated,
and is being conducted with renewed nc.
tivitv.
The arrangement Of the Treasury De.
partmcnt with national bank dcpOsitoricS,
is that all subscriptions to the four per
cent loan. through thrm are 10 he paid in
coin, subscription through other sources
can be paid in grcenbacks. The SubSrrip.
tion Of the thirty millions dollars recently
was payable in coin and partly in green.
backs. The subscription made on the 81
inst, by New York National Bank Of
$500 9Gi was paid in coin. On January
lSt, the National bank repositories held
al, EG, GIG in coin on account Of subscrip.
tiOns to the four per cent loan.
SCHEME FOR SMALL SAVINGS.
There are now before Congress several
schemes for popular loan, all OF which
were proposed in the early part of last
session, after the savings bank panic OF
1877. Itis quite likely that one Of these
bills will be adopted by Congress, although
itmay be that the rivalry Of their rcspcc-
tive authors may prevent the passage Of
any OF them. What is known as the Phil.
lips Bill, introduced by Mr.. Phillips, Of
Kansas, and reported by him from the
Committee on l}ankingand Currency, pro-
vidcS that sums not less than twenty-five
cents can be deposited in any pOStalmOncy
order office, and requires the postmaster
| to kccpa book account OF such deposits.
| When the sum deposited rrachrr ten doll
ars, on the application OF the drpOsitur.
the postmaster shall issue postal order
| free, payable on demand in currency, and
TO hc receivable in exchange for postal
savings bonds Of the United States.
The bill further provides for the issue Of
| postal savingSbunds Of the denomination
Ut ten dollars and the multiplcs thereof, tu
be sold for currency, and tn bear interest
at the rat" Of four per cent pei annum. All
money To br received in exchange for these
bonds is 10 he applied to the redemption
Of such bonds of the United States ~ are
rcdcemable atthc pleasure Of the Govern
mrnt.
The hill known as the Eurchar,l, having
been introduced by Mr. HurrharI, Of hi.
nois, considered by the Ways and Means
Committee, Nnd reported from that com.
millcc by Mr.. Robbins, differs in some rs.
scntial features from the Phillips I'ill, aud
proposes Ia refund all outstanding six pei
cent Governments into II popular bond,
Ia bc known NJ the postal savings loans
Any person may deposit in any postal
m0ncy.ordcr office sums not lrsS than ont
dollar, and receive interest thereon ut tn,
rate Gf four per cent per aunum When
the deposit shall reach ten dollars, tht
Postmaster il authorized Ia issue therefor
u postal money order, which ran be- rX
changed ut pleasure for four per cen
+ bonds. There ~ another hill, inlrOhurCi
by WWldcll, Of Norlh Carolina, considcrr,
aud reported from the Committee on Pos,
Offices, which is very nearly similar to til,
two bills above described.
\ C"STIRMED ABSENTEE rUWNs UP-sTvlrn
siIAItnS OS IINSD FuR THE suUTm rARnILN
sESAfnRIAL uuNTESr-TmE sDUTm cam
; LISA CONTEST.
:. Senator Sharon, oi Nevada, arrived her
tonight, hit lirsl appearance in Washing
= ton inr nearly two wears lie will h. Ul
hand in the Senate chamber Tomorrow
:. 1t is understood that the purpose nf III
g RrpuhlIbhn Senators Is nov, ut the lin
!. nuspiciuu1 opportunity, to reopen III
llu'l"r Curbn ease The REPORT ,
the majority nf tho Committee u
Privileges and Elections, dcrlarin
r Corbin entitled In tllcsrnl, lras been road
T for sOmU time, and action will hr callr
:, Tor on il. When Mr. Butler was ndmillr
?. ag Senator from SuuIh rnrnlinn with ~,