, 1881-03-04

y Its all re-, cSccpt III .lit Hitlt!a VI LnnsC
fao n,,at III II Ity.l u, lltihK nDniit all t:XirR
t.affa ..fa,, # Cnngress, or clau Tho tf0vGrtltcnt
th1b ~ +" nit IL 'u,rket soIilG millions In tho
~, ~ n intc, Est before tie hll ca1 !,n tassed
hhe lsEal"r s,;s ssS,5 I!Sss a1 " tsf es'e
a. a!;a,IMsndinr, M,d 4 fntluru to refund wilt cost
oasselnp1lt oa.ssnnrrrnlnp1lt tic difference between 8 and
ue ud nGG mr. cunt for nll tile tInlu from which
binding might have boon hrRl,n."
ylcE.litKsiDENT THOMPSON.
.,tho chase Natin,lal Bank, said: "1don't
sGh,nk :, M It wnnlA make n great tiesll Of titfur-
e,Gde ad ~ ~ Ind mt vetoed the bt't. Eycryth!ng
~ naf fhnotnjng nnw anyhow. and Is likely
scnmfInnc from present appearances. l
Z ',ye Succeeded In clearing ri, ono polfts,
hqT%S:y"siii'i q.%:"ai IL thu, q'
.s,a1slnenis Ind been published that
rrtas5,rcr t;iItlllan would not allow green
LIZA md guild deposited to be withdrawn,
St s would InsLst IN tho. withdrawal NJ
IN IN lwatls.. III answer to ~, Inquiry,
e Controller 81 5c currency wT1es inns
~steeenlG,cks ~e to t1sosG persons vim may have
tssnsu.ltru them, proyitte,l tile bonds which
Wired their circulation still rcllaln IN tle
ri; aud !lpne of TIC circulation of the banks
kas been redeemed froIi .l.posit. lle DE-
Si'n'tt e,ot, Inc deposit Of bonds II tho per cent
l%s Ssd' 5e s,s ,sssae ss Ts Wit eable te banSs
, nu' n Withdraw tf,o!r currency and hold
6eir circulation to exactly the, extent
s'.wn their bonds fr,m tito Treasury. It
iii br]ug bnck to Wall strickland nobody
h.. tpep hurt anywhere clse-nhoilt one
tthinI ot tho amount drawn OUT Inst wrek,
,p1 .na return sl0,VO0,0uO here within five days.
Tben T there Il, n notice posted at the Sub
hat TfAIn REP
vii next wccl, bay 81 10000 Of uttcalicd
hHonis, They werc not turned lit as rapidly
Wwas expected, nliti 80 tt,a Departments Il
enlna intI the open market to buy, Weai,a1l
sSe reny Of o9lsy IN fly nys although
nc, FAHSEsI0cK, or THE FIRST NATIONAL
BANK,
xbich has been regarded rs tho champion of
tbe opml,cnts Of tho Funding bill, snld yes
ierJay afternnan tl,at the blll would have
Sen favored By tho bnrkfng men, not,yItIl-
Standing the doubts Of many as to ia Mlti-
nate success. Ind It not been for the fifth
stvtIou. with tl!s clause II could not but
representative Carlisle credit for honesty Of
iDtsnlIun. but Thought lle had certainty made
amislake in fathcrinE any such measure.
The misfortune wis ttAt this brought tho
Bill into pnlst!cs, So It became n party Issue.
The Democrats were sllrewd enough 10 takc
idvantage Of 1t to put themselves on record rs
fayorIng low rats Of Interest. md to throw
lie onus Of It's defeat upon the Republicans.
On The passage of the prevlous funding
bills, the Government was, Rlad to accept the
hgher.prlce.l. bonds, and now when nj, I'M
nsd, Hs'dtA' 4''a ''''1''4''s '>p'f'"e'' WIS % 10
IT WAS bad POLICY
to toanagonize the banks, without whose CO.
operation tlle placing Of u j per cent bond
xoud be 81 4 tatln1e @ IN any event II such
contained III the Objectionable flfth CLAUSE,
had been passed year ago to tako effect to-
day 1t wonld b. different matter. but the
notice given was too ahurt.. md tho
banks were Gonlpellsd, IN their own
ths aet DO passed. to-day TO fund tilo debt Oh
he basis Vi a 315 per cent bond, there would
Dot be the slightest doubt Of its success. Az
toahether, on the passage of the. Funding
bill b. shu next Congress, tho piacEng Of q 5
lsr eent b9nd would s,lceced, Mr.. Fahne-
stock would not venture any opiniDn, be-
cause no one cauitl tell wi,nt tic condition Of
tho country would be a year hence. lie con-
s|derld tho result of tho Presidents action
you'll ta fuyprahie, md TINT t1,a general
dnanees would pe placed IT., better condl-
mbicct arc now settled, aMd capitalists have
ven Ecassurcd that tlluy will nat be subjected
% 1uctuattotl.. Mr.. Fnlncstock expressed
he, opnion tint II majority Of tho balllis
fh!ch hare acpnstted n0lley To retire clrcu-
alton will ROW withdrawn 1t.
!, CA1lIOtS.
."The vote?" sntd President Calhoun, of
DE Fourth National Daul;. II have nothing
Gsay about It. 1t Is done. The funding
bill is sea&l.'
And you arc nut among tho lnourners r'
"'Mol1rl1crs don't mourn. rejoice"
"Do you think Consressiwlll pass tho bill
fga+r. fr.tu
lofity rott?"
mo, STR, There is no 1norc chance Of that
than there Is 1T you golng TO heaven Tonight,
aaa aa1atis t1s; should think fter pause) very
DE WITT E. HAYES,
President ofthe unInjl National Bnnk. said: I
an very Elnd tlils Must bill has bGen vetoed.
!lega!u TINS veto ns the cruWnlng act of an
extremity successful administration"
PRESS COMMENT.
III shs 1rfsfcFt AsJoefattd Prsss.
new foltK, March 3.-The G1uUhic: mot
aleW teule Cnn,e ti,wn tf1!s morning ux-
passage Ut tllo Fnn,ling llit. From tic vcry
oRenlnk, however. there were orders to taku
~ INC offerings, alll, Instead Of weakness,
nefe wus n, strong tone, which developed
99aoyallty when 1T tho end Ut tho first hnlH
I9ai EaIe the iie"s entne TINT the VITO ot Tic
funding bil had been written ont, and Just
,,ele o,te Ut tho Inconsistencies TINT cllnrac-
,,e!Ife The course Of specnlutt0., manifested
}Relt. Tiiosa ssif0 ttnd bought stocks u1 ti1e
nope OF tho lasSHEe Of the Funding bill us Il
tm,easlte Of inilat!on besaI to buy on tho W.
Mlng Of TIC bill. The shnrts tnuk the alarm,
and .,sl wesc driven to cover BY tho inanlpulu-
ss Hoas o. the operator, wllo yesterday aud tlle
aay before was tho principal buyer Ut
roeks' ssSaa There is little doubt. TINT tue nd
,aMSe ssaSio. to-t!ay Was due mainly to tho
slosl.ns Hos q. out nf short accounts, for repnrt
,e, mhs iIeely circulated tint 4 funding amends
ah!en! ~ SRnTn OF MI ohlloxiDlls fentnrcs would
~ M taeHei on t tue Deficiency bill ntnl passed
@t!ay. " llln situat1uu III other respects l,u3
~. ~ ,esaangct So great has been the lncrense
y H. w ht1llIier Ut messages Offering here that
.s nH cslern unlUN Company llAs been con-.
RM ". ~ porT0W operators for lts fnalta oif1e8
p"n psa'at tlo American Union md Atlantic and
II i%ic ~ 0ilices. All Tho companies hnyo had
Io business they could tln for the pRst
~! atal,a!!1Eht, which ts II sign that sprIng bllsl-
1 ieurisLSse. Hsery kIl'd throughout he coutryls
THE "ExrREsS
,s5;G. aba; The Funding bill! was the pivot on
T. S'iSM ~ WefythI1,E In tinnnclal circles turned.
. sl,!ssstf NY very openllg Ut business there WIS
nr'aut n3,nM 1tullng Oh tile Stock Exchange, mid
mtstss Were !0wur In thu fear ttut tho banks
rIrsm"iIiag I"I agtln depnsit large amounts to retire
dan, dan,nii@'o' pending the artlon Of the Pres!-
ss.s ssst u regard tu tic bill. This feeling how
fsra f'' , was OF short duration, lsll1 In very
m cbn,nn'anL n'n.ns1ts the tolle of I'LL tho markets
ystn ytst'. " !Tgn4 atpresst1h to tttdtaitey. Tte
snscnInu ma w. ule Funding bill was accepted BY the
S1sA!a40iA 44 rEIll1Vt1tr n1lV further NnlISk nf