New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-19
FBr TELEGRAPH TO THE rRrBUsr.r

IBY TELEGRAPH TO THE TRTBUNE.i
WASHINGTON, Jan. 18.-The Refunding bill was
to-day reported to the House, and the previous
question was ordered. After it is again called up
for final action, one hour may be devoted to dis
eussion Of the merits of the measure, after which
the vote must be taken.
One amendment has been adopted upon which
the committee will demand the yeas and nays in the
House. This amendment constitutes sthe second
provso in the first section of the bill, and requires
the Secretary Of the Treasury to pay out all the
coin in the Treasury except $50. 600 in gold.
This provision will undoubtedly be- stricken from
the bill on q full vote, for every Republican and
many Democrats will vote against it. In other
respects the bill will probably be sent to the Senate
tomorrow in its present form.
In the Committee of the Whole to-day an hour was
devoted to the discussion Of Mr. Carlises substitute
for the fifth section. Treasurer Gilfllau said yes
terday that the effect OF the repeal Of Sections of the
the Act Of June 90 1874 provided by Representa-
tive Carlsles samendmentto TO the Funding BILL will be
TO compel the National banks TO reduce their circu
lation by the deposit of United States notes
authorized IN that section. but by surrenderny
their circulation directly to the Controller of the
Currency or by the cancellation of their notes pre-
sented to the Treasurer of the United States for
demption. ut will aso" he said, stop the retire.
ment of circulation aud withdraw all the bonds Of
National banks for the purpose of realizing the pre-
MUM on such bonds"
Regarding the enactment of Sections $3.50 and
5160 of the Revised Statutes, the Treasurer said:
"The effect will be to require National banks to
have on deposit with the Treasurer Of the United
States an amount of United States bonds equal to
one-third Of their capital. and unless those two
sections are reenacted the National banks can re-
duee their bonds on deposit in the Treasury from
$500, 100000 to $6O,O00,000 as by the deposit OF
greenbaeks and the surrender Of circulation they
can, by existing law. reduce their bonds to $4,000
apiece"
In the course of the day Mr.. Randall took occasion
to allude to some criticisms which he said had been
made here ana elsewhere" upon his amendment
recurring thirty DAYS notice on the call OF six per
cent bonds. Mr. RaDdall obtained leave TO print
some remarks on this subject. subsequent exam
lnation by q TRIBUNE correspondent Oi tee manu-
script which Mr.. Randall handed in shows that he
did not by any means answer the criticism which
fsF BEFORE the Pin was reported 3D.. to .,rilS Dc
an amendment to change the title Of the bill so It
wouid read as follows: " \ bill to defeat reIunu-
Ing increase thu amount o pat,t
and dspress the business aud industries ot the coun-
try" This amendment was rejected,
There Ia little doubt that the bill will pass the
House Tomorrow. While it is very unsatisfactory
TO the Republicans some Of them will vote for ls
because they believe the, Senate will deal
demagogues will not control action upon IL
IN that body. One Democratic member of the
OF Illinois said in the discussion to-day that. al
though opposed 10 the bilL he would vote for it, in
expectation that the Senate would amend it. Mr..
Carlisle will vote for it the same grounds and 40
will several other Democrats, who have no faith
that the bill in ts present shape is practicable one.
But majority OF the Democrats among whom are
several of prominence will vote for the bill with
the pressed hope that 1t will prevent successful
refunding.