The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1882-05-09

| httutc.
| WASHINGTON, May S,-'rhe special ordc,
for tomorrow Tuesday Is the consilera.
ton Of the Grape bill to extend the char.
terra oil the national banks. At tho proper
tmc Mr.. Bland will offer Ms substitute
his bill TO retire the circulation OF national
banks and TO continue them as banks Oh
discount and deposit. Sections |, and \
OF the Crapo BILL relative to the continu.
nncc OF the banks, are retained in the sub.
stitute. 10 section 4 Of the committee bill
is added, however, the proviso that "sai,l
associations ure hereby prohibited from
issuing circulating notes, and hereafter no
national banking association shall in.
crease It's circulation or be organized Will,
authority TO issue notes to circulate as
money" Sections 5 OF the bill and sub.
stitute are identical. The remainder Of
the Bland bill is Ms follows:
SIC. &. That national banking associa-
lions that may be continued by this net,
and those whose corporate existence shnll
expire, shall DO required to comply with
| the provisions OF sections 5.2.2l and 100 OF
the Revised Statutes ia the same manner
as II tho shareholders had voted to 90 into
liquidation rs provided in section 5,2230 Of
the Revised Statutes; and the provision OF
section 5,22i not inconsistent herewith
shall also DO applicable to, such associa.
| tons. ~
SIC. !. That all the moneys deposited in
| the treasury OF the United States for the
purpose OF redecining the circulation OF
national banking associations shall be
deemed surplus revenues and used in the
payment o! tha current expenditures OF the
government, and in tho cXtinyuiet.mcnt of
the Understanding debt OF the United
States, in the same manner rs other surplus
revenues arc authorized to be expended.
SIC. $. That, for the purpose OF retiring
and cancclinS the notes OF national bank
| ing associations surrendcring their circuln-
ton, the secretary OF the treasury shall
cause TO be printed and engraved treasury
notes OF the United States. vi the denon,i-
nations Of s., $40, 500, so, 500 aud 81 900,
! bearing such inscriptions and devices rs
he may approve, TO be exchanged for the
bank notes above described on pvesentu-
ton OF the came ut The treasury; and the
secretary OF the treasury shall cause to be
issued said treasury notes in lieu OF such
bank notes as shall become the property OF
the government in payment OF taxes or
otherwise, and that the bank notes Tor
which treasury notes shall be substituted
shall be destroyed.
SEC. 0. That the treasury notes issued in
pursuance Of this act shall be receivable
and payable Tor all dues and demands Tor
which national bank notes are now by law
receivable and payable, and shall be cx-
chansenble for ltgll-tender notes when
presented i'll Sums OF 500 or more, for
that purpose, ut the treasury Of the United
States, bat when so exchanged shall be
paid oft OF the treasury again lis other cur
rent finds; and that said treasury notes
shall he redcemab.e ut the pleasure Of the
United States, in lega!-tender notes or
coin, nj the option OF the government
SEC. 10. That the Secretary OF the Treas.
ury shall make such rules and regulations
us may be necessary to carry any OF the
provisions OF this act into effect.