New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-01-09

,,,,s troR TIE ABOLITION OF NATIONAL BANKS
,>n.rI.E .I-r OF TREASURY NOTES AND COIN
CERTIFICATES.
tRY TEIEGRAFsI TO THE TRIBUNEI
WASHINGTON. Jan. S.-Rcprescntatlye 3uckher
ofvissouri. a member of the Committee on Banking
oni Currency of which he was chairman in the last
tvyo Congresses. will bring forward in the House
,or,orro,v Two important bills relating to the cur
-. The first is a bill to provide
Co. tbo Gradual retirement of the green
So o,1 National bank notes and the
,,,b.t;t,,tion therefore of Treasury notes. Ihe
Grst section provides that no new National banks
,bolI be organized and none OF the banks whose
charters expire shall be continued under the pro
visions of existing law; nor shall any circulating
notes be paid to any banking association now Or
ooDizcd or in existence under and by virtue OF the
National Banking Act In addition to those notes
outstanding except In renewal of delacec, worn
out and mutilatod notes.
The second section directs the Secretary of the
Treasury to issue Treasury notes 10 an amount not
exceeding the aggregate Of the present outstanding
local tender circulation Nand ational bank note
circulation. The denominations of these Treasury
notes are 10 he ton twenty, fifty, one hundred ana
ON, thousand dollars they are to be payable on de-
,rord at the Office OF the Assistant Treasurer at
New-York, in standard gold or silver COIN,
when presented I'm of not less than one hundred
dollars; they are 10 he receivable at par by the
United States for all taxes. customs dues, demands
md claims of The United Stetes, and In payment OF
all salaries and other debts and demands OWING by
thc United States to individuals, corporations ana
associations within the United States except where
some other made of payment Is expressly PIoNIueu
bv law or contract
R, tho third section of the hill tho method is pre-
ecribcd whereby the Treasury Lotes are 10 he sub
ettuted for grecnbacks. The fourth section pre-
seribcs the manner in which the National bank
notes shall be gradually retired.
, The inGucement held ont to National banks to re-
fire their circulation is contained in the sixth sec
ton. VIII provides thats {" Section 5,2l4 Revised
Statutes so far it imposes taxes on the deposits
and the capital stock Of banks, is hereby repealed
as TO all bankers and banks not issuing circulating
notes. but the taxes 10 he continued on the de-
posits and the capital stock Of bankers and banks
Issuing circulating notes" The fifth section a.so
repea,s the tax ON bank checks.
The second bill Is one to provide for the issue Of
bullion certificates II rcpeals certain existing laws
regarding the issue OF gold and silver certificates,
and iuacts this instead thereof. Tho Secretary of
tho Treasury Is authorized to issue certain certif-
Gates on thc deposit of gold and silver bullion, at
the rate of - $40 grains OF standard gold and
412l2 grams of standard silver to the dollar,
in denominations Of SO, $50 $40. &lO0 $500 and
8 600. The certificates are 10 pe redeemed III
standard cold or silver com AT the office of the As
setaut Treasurer in New-ToTk, when presented
in sHms Of $1,000 provided the gold and
silver bullion deposited III the Treasury under
the provisions Of the act may be coined as if owned
by the Government, and the proceeds of the coinage
and the uncoiucd bullion shall be held as fund
for the redemption Of coin certificates. is further
provided that until the market value Of silver bull
hon I'm Now-York shall bc equal to its coinage
value not more than four millions and not less
than TWO Millions worth of silver bullion shall
Iuring any one month be deposited in accordance
with the provisions Of the act but that when the
market value of bullion IA New-YorA shall equal its
coin value. the deposit Of silver bullion shall
be free and unrestricted, and the standard silver
dollar shall be coined under like conditions and
like terms with gold. The gold and silver certli-
Gates issued under the act 10 be received for all
public dues and are TO be paid out to all officers and
employees Of the Government ond in discharge of
all debts of the United States except where other
wise struiatcd III contract.
The hill also provides that hereafter no gold
pieces of less denomination than 80 shall be
coued nor shall there be issued any legal
tender notes OF National bnlllnotrs. or
other paper currency Of o denomination
less than $40, and the Secretary Of the Treasury
a REQUIRED 10 cancel and destroy all paper issues
o. denominations less than $40 as they are received
g. the Treasury and in their stead 10 pay out an
canal amount OF notes of the denomination of $40
and upward OF IN standard gold and silver coin.