The times. [volume] (Richmond, Va.) 1890-1903, 1894-05-26

mission is to b. authorized to reject any
bonds which 1t may not deem to be sufii-
Client security. and need not give any
reason for such refusal. The bank re-
ceiving the notes is required TO guarantee
payment Of the principal and interest OF
the bonds deposited by It. and in case
OF depreciation the bank is required 20
make Il good THE assets Of the bank
are all liable for this deficiency. what
ever IL may BE-.
For the purpose OF securing elasticity,
the notes are TO be issued In three series,
subject to different rates OF taxation.
Series \, 10 the amount Of the coin de-
posted. will pay 10 OF per cent, per
annum: series y, which may equal 90 per
cent. Of all the currency issued 10 the
bank. must pay 1 per cent per annum,
and the issue Of series G, which may
equal the amount Of the remaining 20 per-
cent Of the capital stock must pay a tax
OF per cent. per annum. The bill pledges
the faith and credit Of the United states
10 the redemption in coin" on demand,
OF the national currency notes that may
be issued under It. and in ordb 10 do this
the coin and currency which may be de-
posited are 10 be held as a special fund
for that purpose. Also the proceeds or the
bonds that mag be sold and any unap-
pr0prlated revenues I'm the Treasury OF
the United Sta; ., ana talling IN an tnese
resources. authority Is given 10 the COM
mission 10 sell the bonds Of the United
States for the purpose Of meeting any
demand for the redemption Of the notes.
WAN cHEAPEE MoSKY.
Mr.. Springer will strongly advocate
the retention Of the present banking Sts-
TEN with the changes proposed IN mis- blll.
the banks and banking ASSOCIATIONS 20 pe
utilized as agencies for distributing money
TO the neople But the fact that the ma
iorifv a the Democrats I'm the House
want some sort ~ cheap money Wit pfoD-
ably prevent the passage OF any IT., InSa
ure like that recommeh1eu ny nI, ,i fara
or even though State banks would rare
as well under IL as national banks.
RICHMOND LErrER-cARRIERs.
Congressman George d. Wise received
the eratifving Intelligence from the POSI-
Smce Denartment that on the lst of July
the number Of letter-carriers tOr the cIty
NJ Richmond would be increased by t%o
and that free delivery system LOT tns
city Of Manchester would be estap!is ~ "a "a
Immediately. provided the department was
furnished with official information taken
from the State census, showing that the
population OF the city was ig.Ve OF over
This Captain Wise Will have done al once
CONGRESSMAN ones called at the POST
Office Departmeat this morning and Sc
cured the appointment OF Mrs. Mary T.
Jones as pOstmaster at "MOnaskon.' lie
also arranged for the establishment or
post-onice at Grace Point" on Indian
Greek Lancaster county, and designated
Mr.. Il. +. Williams as postmaster.
The name OF Mr.. w. o. Blakey was
sent to the Senate to-day as postmaster
al GOrdonsVille. Mr.. Blakey secured a
strong home recommendation for his APP
pOintment, which was endorsed by Con-
gressman Meredith. hr. Linney, Of Cor
d0nsvllle. was also an aspirant for this
position, but the Postmaster-Genera de-
clined 70 consider his application because
he came under the "eX' rule.
1HE NORTH CAROLINA SITUATION.
Mr.. J. s. Holt. Of North Carolina, was
here last night en- route to New York. lie
represents the Holt family of manufac-
turcrs i'm North Carolina, and says the
delay In passing a tariff bill is disastrous
both TO bushes and politics in that state.
Business is completely stagnated, and no
legislation at ALL he says, is preferable
% irritating uncertainty.
From q political standpoint. tile situa-
ton Is extremely embarrassing 10 the
Democratic party In the state. IL may
lose the LEGISLATURE and defeat the cleo
ton of two United States senators. Speak
ing Of the senatorial question. Ransom,
ne said. would be. as the eastern candi-
date. reelected in the event Of a Demo
cratic Legislature. Senator Jarvis, as an
opposition candidate. is not seriously con
sidered His one hope, Mr.. Holt says. Is
in the election OF the eastern senators.
II. l.. W.