Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-01-12

enterprise. Even the existence of the govern
ment and union is threatened. There is ever
"A present danger of the secessi on of the State
of Panama"
THE UTES.
The Ute delegation arrived this morning
They were met at the depot by two enc ployes
of the Indian bureau, who escorted them tC
their quarters at the fremont house, and kept
strict watch on them during the day. The hote
has been besieged all day by crowds of curious
people. anxious to see the Indians. but al!
were disappointed, as the officials of the inter
ior department had given strict orders that
! they should rot be allowed to talk TO any one
previous to the council at the department. They
remained in their rooms all day. Secretary
Schurz stated this morning that he had not yet
decided upon the programme to be followed In
their examination, as he is awaiting the ar
rival of Gen. Adams, who is expected to-mor-
row.
MISSISSIPPI UNITED STATES SENATOR.
Representative Morey received a telegram
to-day relating to Joint caucus of the Demo-
cratic members IF the Mississippi Legislature
held at Jackson, Miss, last evening, for the
purpose of nominating a successor TO Senator
Bruce. Six ballots were taken resulting in no
choice, and the caucus adjourned till Monday
evening. The sixth ballot resulted as follows:
Barksdale, So; Waltham, 3S; Singleton, So;
scattering, 5.
THE INGALLS, CASE.
Before the Senate committee on privileges
MIR. Smith, Western Union telegraph manager
at Topeka, KS, testified neither Ingalls, nor his
attorney had seen any kilograms since he had
them in his possession. The chairman an
nounced the receipt of q letter from President
Green stating that the additional kilograms
called for az the last meeting, and supposed to
relate to the Ingalls, case, had, under the usual
practice of the company, been destroyed after
being kept Six months, and he regretted he
couldn't forward them.
WOODS ROUNDING BILL.
The following is full text of the funding
bill which Representative Wood will introduce
in the House tomorrow and move to have re
ferred to the committee of ways and means:
Be it enacted by the Senate and House of Rep
resentatives of the United States in Congress
assembled:
That all existing provisions of law authoriz-
ins refunding of the national debt shall apply
to any bonds of the United States bearing u
higher rate of interest than per cent. per an
mum which may hereafter become redeemable,
and the secretary of the treasury is hereby au-
thorzed in the process of refunding the ma
tional debt to exchange directly at par bonds of
the United States bearing interest at three and
half per cent. per annum, except otherwise
provided for in section of this act,
and redeemsble at the pleasure
of the United States after fifty
years from date of their issue, but in all other
respects like those authorized by the act of
July 18th, 1870, entitled an act to authorize re-
funding of the national debt, and acts amenda-
tory thereto, for any bonds of the United
States outstanding and uncalled, bearing a
higher rate ofinterest than four per cent. per
aunum; and in any such exchange interest may
be allowed on the bonds so redeemed for a Pc
riod of not less than one month nor more than
three months; and whenever the bonds
so redeemed bear interest of 5
or per centum per annum the secretary of the
treasury may allow to holders in lieu of inter-
est provided for above, the difference between
the interest on such bonds from the date of ex-
change to the time of their maturity, and in
terest ON 81 per centnm bonds for a like pc
riod, provided that authority in this act
shall be construed into authority to increase
the public debt.
Sec g Authority TO issue bonds to the
amount necessary to carry out the provisions
of this act is hereby granted.
Sec 3. And the secretary is hereby di-
rected to invest money in the treasury from
time to time in excess of rs per cent. of out
standing legal tender notes in the purchase of
maturing and per cent. bonds from the
at rate of not less than $l0,000,0 600 in each
month, until the whole excess over 25 per cent.
shall be invested; provided that said 5 per cent.
and per centum bonds can be bought at
prices as which they will yield not less than
80 per cent. interest for their unexpired term,
but not more than ten million dollars par val
ne of said maturing bonds shall be purchased
shall cease to bear interest and shall be can
celled.
Sec. 4. The act approved February Goth,
1870, authorizing the issue of certificates of
deposit, is hereby amended SO as to continue
and limit the amount of certificates to be used
to fifty million dollars to be outstanding at
any one time, and fixing the rate of interest to
be allowed thereon at 8 of one per centum
per annum, for one year, after which interest
shall cease and said certificates shall
be convertible at the option of the
holders when presented in sums of $50
or multiplies thereof into coupon registered
bonds authorized by this act; and whenever
any of suid certificates shall be converted into
bonds the same shall be cancelled and de-
stroyed. The secretary of the treasury may in
his discretion issue new certificates in place of
those converted up to the limit of 50,000,0U0
until the aggreg ate amount of bonds author
lied by this act, and of said certificates COM
bined then outstanding, shall equal the amount
of bonds hereby authorized. 1t shall be
lawful for any person or persons to form
+ combination by which to procure
said certificates of deposits authorized
under this act for purposed sale to Others o.
for acting as agents of Others, and any person
so offending shall be liable on conviction to be
fined 2 ,0O0 or imprisonment not to exceed one
year.
The secretary of the treasury is authorized
and directed to make suitable regulations in
compliance with this act, providing that the
expense for disposition of certificates and bonds
authorized to be issued shall not exceed one
quarter of one per centum.
Sec. 5. From and after the passage of this
act only bonds receivable as security for
tional bank circulation shall bo bonds herein
authorized.
Sec: 6. This act shall be known as the funding
act of 1880, and all acts and parts of acts in
consistent with this are hereby repealed.
COAL CONSOLIDATION.