Year: 1878

FINANCIAL QUESTIONS BEFORE CONGRESS.


The silver and greenback people generally
agreed that they will offer obstruction to the
complshment of resumption. Mr.. Ewing thinks it
would not be wise to do He and those who think
with him profess to believe that the experiment will
certainly fail, and they saythat If they let it have
fair trial they will be in better position after it has
failed than if they should now place difficulties in
the way which might make them responsible for fail
ure. Tho numerous foolish silver and imitation bills
will. therefore. in all probability rest quietly
in committee. Mr.. Buckner. the chairman
Of tho Banking and Currency Committee.
has called meeting of that committee
to which he means to submit Mr.. Hewitt's excellent
bill making silver cxchangeable at the bTreasury
for gold grecnbacks and allowing the mints to coin
so much little Of the silver dollar as the public
may demand. Mr.. Buckner has some tolerably crude
notions Of his which he may try to incorporate
with the BILL but it will probably be reported to the
House in its original form. nobody who really be-
leves in silver we'll oppose measure which per-
nis the Secretary Of the Treasury coin all that
the people will take without limit Aside from
this bill the Banking and Currency Committee ex-
pect to ask the attention of the House to only three
other measures affecting the finances and currency
the Postal Savings Bank BILL the bill by Mr. Buckner
calling national bank notes and substituting Treas
ury notes in their place, and the Silver Bullion Ger
tifcate BILL and the last two cannot pass this Con-
gress. No bill from the committee will come before
the House until after the holidays It is not mpos
siblc that the session may yet interesting and
valuable currency debate but it is regarded certain
that no measure injuriously affecting resumption
can become q law between and the 4th of March.


THE WAR ON THE NATIONAL BANKS.


It is yet undecided whether there will be. after the
holidays, determined attack on the national banks.
It begins to be understood here that while several
respectable Senators and Representatives may begin
such movement it is inspired and pushed really by
spectators in different parts Of the country who
ind the safeguards Of the National Bank act rksome
to them and itch to have them repealed in order that
they may set up real estate and other wildcat banks
With these united brokers who oresee that with the
national banks out Of the way and multitude Of
State and local banks under full headway handsome
profits will accrue to numerous exchange brokers.
Finally there is reason to believe that some Western
and Southern managers of national banks are them
selves quietly pushing the movement, for the reason
that they too would like to launch out into more
tensive business, the national banks having made
bu. little money in the last year two. If
ever the attack the banks is begun the
debate will make very clear tho motives which in
spirc It, and that it is scheme not for tho protec
tion Of the people, is mildly pretended but in the





whose real complaint against the national banking
system Is that guards the rights and interests Of
the people too securely and leaves chance for le
gftimste operations and profits


THE GENEVA AWARD BILL-OPPosITIoN DE-


vELoPED-rEEILNo IN FAVOR OF RETURNING


THE UNExPENDED BALANCE.


The bill referring the claimants under the Geneva
sward to the Court Of Claims is not certain to pass
Tho fOr huf 10 on
posed because it is admitted that the reference would
recognize the insurance claimants and none Others
The exculpated cruiser claimants and war premium
people oppose it vigorously on this recount
There certainly some hard cases among the ship
owners, who suffered losses not made good but left
Of account by the Geneva tribunal. For instance
that Of the ship Delphine which captured and
burned by the Shenandoah only two days before the
latter reached Melbourne All losses inflicted by this
ship after she sailed from Melbourne have been paid
out Of the Geneva award but all previous
cludcd. The sufferers naturally think they ought
also to be made whole, and they and their friends
pcrtinaciously oppose the bill referring claimants to
the courts. because they know they would have no
standing there, and they hope IL the money is not
divided but kept within the control of Congress- they
may day be able to persuade that body to order


division. not in accordance with the limitations Of
the Geneva award. but according to justice" as
they say.


On the other hand there is increasing feeling in
both houses that the whole which may remain
after all strictly entitled the Geneva are
paid shall be returned to Great Britain. and that the
exculpated cruiser claimants shall be allowed to mako
their claims against our own government. II IL
not for the rank injustice Of the Halifax Fishery
award this mode of settling the matter would have
numerous support. As the case now stands good
many men say, "The English took five and half
millions out OF us wrongfully. and will not be
particular as to the money got from the Geneva
award" II the present bill should reach the Senate
IL is possible that amendment may be offered pro-
viding for the return of any money which may re-


main after the strict letter of the Geneva award has
been carried out.


FROM OUR REGULAR CORRESPONDENT.