The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-01-20


MR.. BUCKNER's BILL TO SUBSTITUTE UNITED
STATES TREASURY NOTES FOR THE NATIONAL
BANK OBSERVATION-DISCLOSURES
CLAIM AGAINST TIE GOVERNMENT FOR ARMS
TO AID THE WAR OF 1S12-PERSONAL- THE
PENSION DlLL-TUE GENEVA AWARD, &C.
rFrom Our Regular Correspondent
WASHINGTON, january 1S.-The members
of the House Banking and Currency Com
miitcc are watching an opportunity to make
fight on Buckner's bill! to substitute United
States Treasury notes for the national bank
notes now in circulation, and they expect
to get the bill mp early in February at the
falthcst. 1t will pass the House, and IFS
friends claim that it will also pass the Sem
ate. This bill will give rise to an able and
animated discussion. Mr.. Hartzell is in
structed by the committee to offer his silver
bill rs an amendment to any bill that may
come before the House to which it is ger
maine. This bill puts silver OH perfect
equality with gold, and lis provision au-
toriZ;ng the issue OF silver certificates for
silver coin and bullion will obviate the pre-
sent expensive and troublesome transporta-
ton Of silver coin. Mr.. Phillips says his
postal-savings bill reported some time ago
to the House by the Banking and Currency
Committee wilt pass, and that the passage
OF the S10-certilcate bill OF the Ways and
Means Committee shows that the House
by large majority favoIs it. Mr. Phil
lips'S bill provides that money in small! sums
may be deposited at any moncy-order post
office, and that as soon as the deposits OF
any individual amount to ten dollars he shall
have issued 10 him bond for that amount,
bearing 3.G5 per cent. interest per annum,
PAYABLE quarterly. Bonds will also be issued
for any multiple OF ten. These bonds, Mr.
Phillips thinks, will pass current among the
people, because they have the advantage
over the grecnbacks OF being interest-bear-
ing. The friends OF this measure claim that
great proportion of the eight or nine hun
drcd millions now deposited in savings
banks vii! be invested in these small bonds.
WHAT Is NOW SAP OF REsuMPT1oH-CoM-
MEHTS OF REPUBLICAN MEMBERS OF TIE
HOUSE.
RESUMPTION has succeeded so far wonder
fully well, but it has not, as some statesmen
confidently predicted, turned loose into the
channels of trade the s2OO,OO0,C00 OF gold
that was boarded in the Treasury prior to
the 1St OF january. This would have in
t!atcd the circulating medium OF the coun-
try TO that amount. So far from this being
the case, several hundred thousand dollars
OF gold has actually accumulated at the sub
Treasury at New York over the amount
paid out since resumption commenced. In
commenting on this fact Republican men,
bers OF the House prominent in financial
discussions remarked to-day that Mr.. Sher-
man was really anxious to have paid out
S50, 0O0, 900 of his gold, so that the curiosity
OF the people might be satisfied, and they
might have ocular proof that gold was now
in circulation. As Republicans, they seemed
rather sorry that the tide OF gold was rum
ming to the Treasury instead OF from 1t. OF
course they do not desire any serious run
upon the sum Mr.. Sherman relies on to
maintain resumption.
THE PREDICTIONS OF SHERMAN AND EWING
IN REGARD TO RESUMPTION.
There has been no more striking financial
discussion in committee during this Con-
gress than that between Secretary Sherman
and General Ewing when the former was
before tic House Banking and Currency
Committee. General Ewing then said re-
sumption was impossible, because with
$50, 100000 OF gold Mr.. Sherman could not
redeem the S700.0G0,000 Of national bank
notes and grcenbackS in circulation. On
the other hand, Mr.. Sherman said be could
safely resume with Si50,0C0, 900 OF gold. but
he anticipated Il run on the Treasury in the
beginning that would probably require
him to give out fifty or one hundred
millions OF gold, and perhaps compel
him to sell more bonds, contendinS that he
had right 20 sell them in order to protect
resumption. Well, the result verltlcs the
predictions ana expectations OF neither, and
| have concluded that it is not safe to rely
on the predictions OF any statesman,
however wise, when he forecasts in regard
to finance, for, in addition to the instance
lust cited, have not forgotten that Senator
Davard and III. August Belmont both pre-
dcted that the passage Of the silver bill
would make gold 60 UP and greenbacks
90 down. when the reverse was really
tie case.
TIE MEXICAN PENSION BILL.
There is still no telling when the bill that
proposes to do Justice to the McXlcaE-War
veterans will again come UP. Whenever IL
is considered in the House the Democrats
will move to strike out the amendment III
regard to the soldiers OF the war OF 1861.
Tie amendment OF Mr.. Goode to include
all officers and soldiers OF the marine scr
vice who participated in the Mexican war
among those to receive pensions was
adopted by large majority.
yIEGISfAs CLAIM FOR ADVANCES TO AID IN
The PROSECUTION OF THE WAX OF ISL.
After n conference the Virginia deleSa-
lion in the House have determined to move
to insert the claim of their State for adj
vances to the Federal Government for the
war OF 1872 in the sundry civil appropria-
ion bill when it comes up. They have con.
suited Mr.. Atkins, chairman of the Appro-
priation Committee, and he is in favor OF it.
or course the claims OF South Carolina
Georgia. Tennessee, Pennsylvania, Ne"
York, and Delaware will be similarly
treated. and at last an opportunity will bt
afforded the House TO vote on this JUS
claim. The readers Of these dispatches
will remember that the House Military Com
1.... ,no ;octruntnd Mr. EUins nj