Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1881-01-22
WASHINGTON.
NOTES or INTEREST FROM IHt
cOUaIRYS LAW OFFICE.
CoLHs Cuh-Provisians Of the Funding
BilI-No Extra Session OF Con-
gress Mahone's Intention
Swayne's Resignation
GOSSIP AT THE NATIONAL CAPITAL.
WASHINGTON.
The Refunding Bill.

The Refunding Bill.
WASHINGTON, January 2l.-The Re-
funding bill, which passed the House
"Wednesday by a majority OF ten' most
Of the Republicans voting against H.
proyides for the issue of bonds to the
amount of S4OO, ,OO0, 900, bearing three
per cent. interest, redeemable in five
and payable at the expiration ef ten
wears; also $500, ,OOO, 900 in certificates, Of
the denominations OF ten, twenty ano
tiity dollars, at three per cent interest,
redeemable in one year and payable in
ten years
The expense Of preparing, Issuing, adj
yertising and disposing OF the bonds is
limited TO one-qusrter' OF one per cent,
a much lower rate than has heretofore
been reached.
There is no doubt Of our ability to
place 8 per cent. bond. But there are
nany good huanclers in Congress, ana
in business circles, who do not think we
.an dispose OF a per cent tond that
NAV be called in five and must be PAID
IN ten years.
There is general opposition TO the is'
sue OF longtime bonds because the peo-
pie DO not like to contemplate the deot
AS a permanent thing They desire and
hope TO pay it off in few years; But
short time is not condition OF lowest
interest.
The Senate will not be likely to pass
the bill la its present shape. 1t is gen.
erally supposed that a majority oil Sena-
tors will be in favor Of increasing the
rate to 5! per cent. and extending the
tims to twenty years, with the option oil
payment at the expiration oil ten years
1t is impossible to predict with any
degree OF certainty, what the outcome
will sc. The House and Senate are
very wide apart in their views. IL Is
believed, however, that a satisfactory
compromise will be reached.
The country expects this Congress to
pass a refunding bill that will meet all
,be requirements of the occasion.
There ought to be no insurmountsSle
difficulty in fulfilling this reasonable
expectation.
WASHINGTON, January 2l.-General
Mohone has selected a seat on the Dem
ocratic side of the Senate, the one now
occupied by Mr.. Pugh, OF Alabama.
who will take another seat after the 4th
OF March. This satisfied the Demo-
cratic Senators that the General is not
at any rate to be straight-out Republi-
can. II is said by intimate friends oi
the General that his first and foremost
efforts when he gets into the Senate
will he 10 secure the removal oil Mr..
PeytOn, who was elected Executive
Clerk Of the Senate two yearsago. IL Is
alleged that during the last campaign
Mr.. Peyton went on the stump and de-
nounced General Malone in approbri-
Gus terms, and these allegations have
been brought to the notice OF Senators.
oi both parties say that il these allega-
tions are proved TO be correct, and Cen
eral Mohone shall ask the removal OF
Mr.. Pevton, no member of the body
could refuse his request.
Important TO n. DIS.
Last Monday a bill was introduced in
the House authorizing the Public Print
er To reprint an edition Of $4,000 copies
of each of the four volumes heretofore
published of the medical and surgical
history of the war. Should this bill be-
come a law it will enable every member
and Senator to furnish free TO every ply
sician in his district complete set OF
this valuable publication.
Senator Davis Says, mo Extra Session" I"
Senator Davis, OF West Virginia,
Chairman Of the Senate Committee on
Appropriations, in conversation with
your correspondent today, remarked
that he did not think there was the
least probability OF an extra session.
lie said that there was a determination
that every necessary measure, including
the Funding Bill, should be passed, and
thus have no excuse for the next Con-
gress meeting in advance Of the regular
period. He said he had good reason to-
b. ieve that those who W 'u'd be! asso.
ciated prominently with the next Ad
ministration were also deslrous to avoid
an extra session, and their friends in
Congress would CO operate TO tia end.
Justice Swayns's Resignation
Justice Swayns's letter to the Presi-
dent r, signing his seat on the Supreme
bench is written, and bears the date OF
January %.