The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-04-21

Refundlng Certificate Subscriptions open
sixty Days.

RefGhdlng Certificate subseript ptlOns OpeI
sixty Days.
WASHINGTON, April 19.-secretary sher
man says he Is q good deal embarrassed b,
the offer Of associated bankers to take the
whole Of the retundins certificates. Ht
did not believe they had q right to demand
these certificates under the circular OIL
April ~, but they claimed they had. To
refuse their offer OF one-hall per cent pre-.
MUM when the certificates were offered
in open market at par aud accrued inter.
est seemed rather hard, but they were
compensated for this BY having three
months In which 10 close the transaction.
Il was maniteStly the policy OF the law 10
give 10 persons Of limited means an on.
portunity TO subscribe for the small certih.
Gates policy In which Secretary Sher.
man most heartily cOnCurs, and banks and
bankers as well. The circular issued yes
terday gives notice Of sixty days, which
ends June l! to all persons who desire
these retunding certificates to apply for
them In sums not to exceed one hundred
dollars 70 any person at one time, and ei-
forts will be male to place certificates in
the hands OF POstmlsters and every officer
OF the United States, who, under The law,
can be trusted with public money. 1t Is
hoped that within the sixty days the whole
amount Of refunding certihCates-abont
$35, ,000, ,00O-will be sold. II not, the offer
made by the associated bankers will then
be accepted for what remain, as the re.
tunhtng OF ten.torties is mandatory, and It
will by that time be absolutely necessary
to provide means in some way to meet
calls. A call for the remainder OF the ten.
torties will be issued In few days.
AMENDED CIRCULAR.
The circular issued yesterday by the
Secretary Of the Treasury in relation to
the sale OF reiunding certificates has been
amended as follows:
Department Circular, No. 90, Of April
10. 1879, Is hereby rescinded, ali four per
cent bonds then offered for sale having
been sold. The ten dollar refunding certi.
ticates will be issued forlawful money 10
sums not to exceed one hundred dollars at
one time by the Treasurer aud Assistant
Treasurer OF the United States, and by
public officers bonded for that purpose
They will not be issued hereafter upon the
certificate OF any National Bank depoSi.
tory. Commissions on such issues, here.
totOre or hereafter made, will he allowed at
the rate OF one.eighth Of one per cent on
the aggregate Of 81 200, without regard TO
the period in which such exchanges are
made. The circular will remain In force
orsixty days, or until the ten.forty bonds
now outstanding are covered by sales, and
III - II rf Nl.A
ment to give to every citizen ofthe United
States an opportunity to invest In limited
sums his savings IN these certificates
at par and accrued interest. At the |
end OF sixty days, to.wit: at the close
OF business on the 18th OF June, the offer
already made for four per cent bonds sui- |
ticlent to cover the ten-forty bonds then
outstanding, II any, will be accepted.
The Departments circulars of March |
II and 20, 1879, are modified accordingly"
FINE SCHEME. ..
Representative De Ia AIatyr to-day filed |
q petition embOdying a bill to establish
.greenbaCk currency" and TO relieve the
financial distress Of the country by grant.
ing aid TO certain companies Incorporated
by State authority for works Of internal
improvement provides that the Secre-
tary Of the Treasury be required to have
prepared notes and obligations OF the
United States to the aggregated amount OF
ten hundred millions OF dollars, to be
known as "greenback currency" for ger
eral circulation in amounts and form as
the bill provides. which notes or obliga.
tions shall constitute legal tender for all
debts, and receivable for all United States
Government dues. These obligations
shall be issued in notes OF S., Sl0, SO,
SlOO, $500, 81 900, 5000 and $4,000, eact,
in such relative proportion as may bs
found necessary to meet the requirements
and convenience OF the business wants OF
the country.
The Secretary OF the Treasury is author
lied to loan from such "greenback curren-
cy" TO corporations, providing they file
their bonds payable ffty years from date
thereof, and bearing no interest for five
years from said date, but at the expiration
Of five years the bonds shall bear interest
OF three per cent per annum, legal tender
money. Interest TO be paid semi.annually.
The following are the corporations men.
toned that shall have the advantage OF
the loans: James River and kanawha
Canal Company, 500, ,0O0, 900; Atlantic and
Great Western Canal Company, S5O,OOO,.
OOO; Florida Coast Canal Company, Sl2,-
goo 900; Fort St. Philip Canal Company,
$1,000, 900; for railroad to connect the
waters of the Mississippi with the Pacific,
- Rock Island and Hennepia Canal
Company, $4,000, 900; 0swego Canal Com.
pany. S2a. a.00O, 600; Lexington and Big San.
dy Railroad Company, $5,000,000; and Nj
agara Ship Canal Company, Sl4,0OO,OOO.