The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-12-28
FINANCIAL.

special dispatch to the Cincinnati En-
ouirer says within the next two years the
charters of the majority OF the Natl0nal
Ranks now in existence will expire. This
fact will compel the present Congress to
take some action with respect to these cor
norations, When the last Congress passed
a three per cent. reiunding bill, and had in
il clause making it mandatory upon all
new banks formed, of those desiring 10 re-
new their charters, TO deposit with the Sec
retarv of the Treasury the pro-
posed three per cent. to secure
their circulation, it will be, remem-
bered quite number OF the banks
gave notice, in case the bill became law,
to 90 into liquidation and cease business
At the time it was thought the banks gave
sucb notice in order to coerce the President
to veto the bill, which he did. II the threat
of these banks was honest, and 1t was not
made with coercive view, there Is every
reason to believe that there Will be repe-
Triton of such notices to wind up business II
a three per cent. funding bill is passed
The outlook now is assuredly that a three
per cent. bill will be passed. Hence, If the
banks maintain their position OF last year,
and withdraw their circulation TO
any considerable extent, II will involve a
very serious contraction OF the volume OF
currency, anu VIC N0ly
is What will Congress do about it? True,
under existing laws the banks could reor-
ganize under State laws; but if this were
INDUCED in to any considerable extent we
would have currency as complex as we
had before the war. Those in Congress
who believe the greenback dollar the best
the country has ever had favor legislation
which wlll replace National Bank currency
surrendered with greenbacks, OF ers favor
the coinage of the silver dollar to the full
limit, and the issue OF silver certificates, The
attitude of the banks touching q three
per cent. refunding bill has not been made
apparent thus far at this session, but I'M
doubtedly will be when the Specimen Bill
is discussed. The Specimen Bill will, no
doubt, pass the Senate without any re-
strictions ms to the banks being forced to
use their funds as Il fund to secure Clrcula-
ton. but such an amendment will be Of
tered in the House, with the chances of its
passage.
SAYS Washington dispatch The sem
timent in favor of some revision Of the
tariff is steadily growing. Judge Kelley,
Chairman of the Ways and Means Commit
tee has modified his extreme tariff views
to the extent of admitting that revision IS
needed. and he intends to draft bill
to that effect" And further: 1T is gener-
ally conceded that decided majority of
both Houses favor revision, but there are
diverse views as to the means and methods
that shcnld be employed in making it, and
it is thi, art of the subject that will delay
the pas e of the bill and cause protracted
discuss.,.." And still further. Free
traders ,avc 20 modified their views as now
to express themselves willing to accept
tariff revision, and upon this middle ground
they have met the head and front of pro-
tection-Judge Kelley
The cost of mail transportation for the
fiscal year was $40 ,323, $50 ..
The city of New York wants $2S,OlQ,596 to
keep the ornamental machinery i'll mo-
ton during the year 1882.
The directors of the northern State prison
of Indiana report the average number of
convicts at b72 The earnings for the year
were S77, 425 40, and the deficit 81 1914,