, 1881-02-21
WASHINGTON.
Anxious Bankers Seeking
Light on the New Fund
ing Bill.
Important Features Of the Act
Hostile to the National
Banks.
0onkling's Friends Certain that Judge
Fo1ger Will Be Secretary Of
tho Treasury,
A1r. Frye Getting Anxious About
Senator Blaine's Delay III
Resigning.
Gossip as to What the Outgoing
Members Of the Cabinet
Will Do.
Expressions Of Dissatisfaction with Gen.
Sherman's Preparations for H.
auguratlon-Day.
a Bill to Be Introduced To-Day
on tho Subject OF Pleuro-
Pneumonia.
speculations as to Which Party Will
Receive the Support Of Gen.
Mahone.
EXPRESSIONS Of Dissatisfaction with Gen.
Sherman's Preparations for H.
auguration-Day.
A Bill to Be Introduced To-Day
on the Subject OF Pleuro-
Pneumonia.
speculations as to Which Party Will
Receive the Support Of Gen.
Malone.
THE FUNDING BILL.
CONSTRUCTION OF 1Ts PROVISIONS.

Ypectat U'spalth to The Chicago Irtbuns.
WASHINGTON, d. t., Feb. 20.-A humber
Of New York bank lne1l have arrived hero
to ascertain whether Ur not there Is nny
prospect Of q veto OF the Funding bill md to
obtain un official construction Of Its provi-
sions. 1t Is found tl.at Opntons grcnt'y
differ rs to the construction, particularly of
tile fifth section. National bnnks have GEM
rally supposed tint they would hsvo until
July | next to determine whether or not
they would retire their circulation, but some
of tho Treasury officials mnintafn that the
provisions resatIye to the retirement of ctr-.
cuation will g6 Into effect whenever tho net
BllA!l be'approycd. The bill certainly
PROVIDES FOR AN 1sMED1ATli KEpEAI,
Of tho first section Of the net OF june 20, 1871.
Which Is the net under which tho rctlreinents
Rre now mule BY presentation OF legal
tenders through tho Treasury rs clearing
house, nltd also teGnncts Sees. t. f50 Ai.d ., ITO
OF the Revised Statutes, which rcquiro tic
National banks to collect their 0wn rates;
but even this does not permit reduction Of
circulation below onc-third of thu capitat
stock. To Saturday morning there was no
Increase OF retlrelnunta Of circulation ns 4
consequence Of tic passage Of tlIts bill. To-
morrow tho bank statement, however,
Will. SHOW 4 DIFFERENT isEsCI.T.
Notice has been received Of the retirement
Of tile following circulation Of National
banks: Market National Bank, Sa,llo,000;
First National Bank, Now York, S4W, 600;
American Exchange National Bank, S5u00,-
0O0; rhIrd National Bunk, S75o,o Co., Tho Inn
preston III banking circles, t00, TINT the
fifth section applies only to tho circulation
hereafter to ho Issued Is Incorrect. Tlo
amendment to that effect WIS not agreed to.
Banks whose circulation Is based upon cllr-
rency Is and upon tho and ~ per cunts
will hnyc q grent advantage over banks
whose circulation IL founded tspolt'the Is aud
e. Of 1881, rs the Is and 414s are
NOT AFFECTED ly TIE lsEFuSD1Na ACT.
The belief TINT Congress has reported Il bill
to taka of tho taxation upon bank deposlas
In order to rcIeye THO banks from SOME OF
the burdens, of The Funding bill Is nlso not
been reported IN thu House FROM tho Why's
and Mems Committee, but tills report Is
part OF n general seslcIng to reduce $1,000.
d0O interest revenue tnXatton. 1t was ro-
ported by men who distinctly refuse 70 agrce
10 take oil tho tax upon bunk circulation.
TIE UuJKCr OF l1lE HILL
Ii that the Democratic party n,ny bH ablu III tho
hill shall p,sss} To say that they llaye relieved
HE people Of SI5000oo0 internal revenue tnx-
ation. Tile bit was rsportetl by MIR. Carllsle,
section OF tho Funding bill, which Is the
| most serious blnW that tho National banking
| system ever met by Congress since tho Ny
| ti0nnl banks were OrKanlyed. The truth IL
| fcatsres OF tho Funding net were designed IN
hostility to thu hanks. Many wElo v0tcd for
Tic bill will be well ptease,l II tho banking
system slnll bo seriously Injured BY IT. The
strongest opponents Ut tie National banking
| SYSTEM WUre
| vnur,ina+r 1,vt,c ArFa nF ,rttfs 1,1rr