Los Angeles daily herald., 1886-12-14
WASHINGTON.
4 Synopsis of the New Bill
introduced.
A PLACE FOR THE SURPLUS
Secretary Manning Will Not Re
sign-A Candidate for the
Turkish Mission.

Special TO theHerdld By the associated Press. |
WASHINGTON, December l3.-Under
a call of States the following bills and
resolutions were introduced in the
House and referred.
By Oates, of Alabama, to provide for
the appointment of Congressional COM
mittee to attend funerals and to pro-
hibit the draping of public buildings in
mourning except by order of the Presi-
dent.
By Lawler, resolutions stating that
the rapidly accumulating surplus in the
Treasury is in excess of the needs of the
government for its support and the dis.
charge of the bonded debt: that the
coast defenses are inadequate to protect
land and sea coast cities, and that nearly
one million were unemployed and de-
claring it to be the sense of the House
that large proportion of the surplus
in the Treasury should be expended
through liberal appropriations for re-.
pairing and properly equipping the
coast defenses and for the construction
of ships.
The following is the text of the bill
introduced by Hewitt to-day:
SECTION |. That out of the moneys
in the Treasury not otherwise appropri.
ated the Secretary of the Treasury is
hereby authorized and empowered to
anticipate the payment of SO much of
the interest bearing bonds of the United
States as shall be in excess of the rate of
per cent. per annum by payment in
gross of such sum in each case as shall
be equal to the aggregate present worth
of such excess of interest thereon, and
for the purpose of ascertaining such
present worth of interest upon the
amount paid by the United States in
anticipation of such excess of interest it
shall be computed at the rate of 3 per
cent. per annum, reinvested quarterly
so as to secure to the United States the
beneIit of compound interest thereon.
SEC. 2. That when such payment of
interest in anticipation Of maturity
thereof shall have been accepted by any
holder of the bonded Indebtedness of
Lu6 Outltt ptdLCS thO OOAuo Shuit 10
distinctly stamped and properly en-
dorsed in such manner as the Secretary
of Treasury may prescribe, so as to show
the reduced rate of interest thereafter
to be paid thereon. and the coupons, If
any, shall be Gu. off and cancelled, and
for the coupons so cancelled shall be
substituted new coupons, bearing the
reduced rate of interest; and the bonds
so stamped shall be receivable by the
Comptroller of Currency ss security for
the issue of circulating notes of any
National Banking Association, to the
full extent of the par value of said
bonds, instead of 80 per cent as now re-
quired by law.
Secretary of the Treasury to deposit
from time to time with any National
banking association any portion of the
money in the Treasury not otherwise
appropriated, upon security of au equal
amount of bonded or other indebtedness
of the United States; provided the
whole amount of special deposits thus
made shall not at any time exceed $780,
OO0, 900, and all such deposits shall be
subject to call upon such notice as the
Secretary of the Treasury may see fit to
prescribe.
By White of Pennsylvania, for the
free coinage of silver.
By Grout of Vermont, to enable the
people to name their own postmasters.
By Cox of New York, fixing the sal
ary of civil service commissioners at
$4,000.
By Springer of Illinois, for the admis-
sion into the Union of Dakota, Montana,
WashingtonsTerritory and New Mexico.
By Throckmorton of Texas, providing
for the leasing of unoccupled Indian
lands.
The Speaker laid before the House the
supplemental report from the Secretary
of the Treasury, relative to the collec.
ton of customs and duties. Referred.
The House then adjourned.