Chicago Daily Tribune Newspaper, January 14, 1881, Page 1

X, VOLUME RIRY INSURAN RICALLIANGE, COMIPOSRED O The Pacific and the New York Bowery Fire Insurance Companies, OF NEW YORK. STATEMENT JANUARY |, 1881. Cosh €ApItalicsnieiinn 8 £00,000,00 Rerervo for IesInsurance 201,827.20 Tnpald Lowses nud other Liabilitles.. $0,101,70 Net Burplus.. conn oo #76,251,10 £1,010,740.33 ASRETS, Tt United States Hanila,, 1 852,244,045,08 Real Estate., N8, 272,70 T035,100,00 Lonns ou Collnterals., 1$5,476.00 Fremfuma in course of Collection..., 40,654.0% BB ADD, 83 413 $1,010,310.238 STRAIGHT & LYMAN, General Agents, 150 & 152 La Salle-st., Chicago. I’llUl’l‘ LAXATIVE. Tropic-Fruit - Laxative ‘Is the Best.and Most Agreeable Preparation in the World for Constipation, Biliousness, Headache, Indigestion, Hemorrhoids, Torpid Liver, Indisposition,’and all com- plaints arising from an obstructed state of the system. Cash In 1Banka nnd In Ontee, Accraed Interesto... 'rnorw One Lozenge is the usual dose for f§ male adults; one-half § to three-fourths of one for ladies and children, Thousands are us- \ ing it with the best re- ) sults, and estcem it highly as a safe, —Elzasant and effect- ive remedx. LAX frults trapleat aud plantse . TROPIC-FRUIT LAXATIVE serves the purpose of pills and the usual purgatives (of every name and nature), and is entirely free from the many objections common to them. Sold by Druggists everywhere. Packed in bronzed tin boxes only. | Price, 25 cents. . Large boxes, 6o cents. 0 Each box bears the private. /,v'mmm! stamp, tradesmark, and atitograph signature of i Ifi:fimfiflflfln R dial b abiaisadiissc Rl B bl U bk Sl isda M el oyt SHIRTS ORDER. Only tho bcht. materinls unsed. Satisfuction guaranteed. Ourstock contains large lines of White and SALI. | FIRST TIME IN CRICAGO. FIRST-CLASS ENGRAVINGS, IN FIRST-CLASS FRAMES, AT AUCTION. ON FRIDAY NEXT, at 100'clock, we commence the sale of our stock of Framed Engravings, Paintings, &. At our Store, 181 Stato-st. ‘We want the money and are bound to sell, Cal, ELISON will have charge of the sale, WOLCOTT & CO., 1841 Ntate-st. SELECT 'l‘ \ILlHllN(I. {20 PER GENT DISCOUNT Onall HEAVY WINTI 121t yoouy during Janunty, an 110 PER GENT DISCOUNT Un ALL OTHER koods during samo month. g EDWARD BLY & (0., Tailors, MI‘:AN NAVIGA‘IION. NOR’I‘][ GERMAN LLOYD. New York--London--Paris. Bleamers sail Every BSaturday from New Xork Jor Southampton und Bromen. Jhastonyors booked for london snd Taris st ) tes. Hates of ‘lllufluu trom Now Yurk to “O‘\‘.\un iptoi, Lundon, snd Bremon, first cabin, weond-class cabin, §i steorugo, KU 1fos fuen i e reduced mutes, GELIGUTY & Coud Howting i, N teuruio Fite by .;KN’I Gorman 1. !uyd trom lll’ men b (llluuu IIHI. ! tho oty agnts wuthurized t aoll Wil Uckoth our own make. The Intest styles of Linen Collars and Cufly always on hand. GARETERS, " SMOKE oUT Thnt CATARIIT, COLGH, or COLD, with the COMPOUND CUBEBS CIGARETTES. THE BEST REMEDY EVER DISCOVERED, Prepured only by GALE &z BLOCK]I, CHEMINTN AND DRUGGINTS, 81 Clark-st,, 44 and 46 Monraa-st. Houso), and 126 North Clark-st, RUNNER A 23 Ouly davica of the kind In existonos thet will track in country sloigh rouds, FONFALR DY) Btrong, Prctical | p, aud Clicap, STATE LINE ToGlasgow, Livorpuol, Lublin, flelfaat, and_Londan, ANSHACTEIKD Y a v s W b RLEH | AL A, ABBOTT & CO., S0ne, uutwird, §2h selther cuttlo, shewp. nor i, AUST HAM)\VlN‘_‘AOO. Wiy stonmare earry 300 Wabash-av. Wa aro atso thy lnrgost munuiaciurors of Blelghs in the Woat. und hove wgund supply on hund, g N NOTICE. New Yong, Jan, 12, 1631, Z'o the Stockholders of the Atlantic & Paciflo Telegraph Company : You aro Loroby nutitiud that s Yiootiug uf th stock hubdurs ot this Coupay, will by holid ut 1ty Fagouuve Qnico, 155 Hrondway, Row York, i FATUIDA u;ufl'- Bitron SR "TWINTER ER RESORT. THE ROTAL VICTORIA HUTP-L ASSA BAHAMA 1SLAND: A LAND (SI' PERPETUAL MUHMLIL + Mortus, Prop, ‘U, I, Winchester, Munager, );fl L‘x“i’;l‘:& If ‘l(lc‘oml;nuon upply 10 L H EAUUI\VdA;kL lsl.'. 3 llrnuhu{‘ New York, 30 Tk hver, soo b o Nans li“. lvll\llhu( “fs(mzluflnllh Horllll.L‘ l{l’ l:.’ u{:ulu nd Pulos Of Danagy, W DIEY & COLy JE, U L Ner, 3 ELOCUT!ON. hl"l:l-lumlu L. Ella, late of Nattonal Bchool of Oras 0 Philadolptita, wnd Pesumyivants btate Nopumal Fubniary ifth (51, &t 6wo_o'clock , ., Tor Pong of notltg wpon tho teru of wi uareenion Jata und trunaturuf (o property unid (ranciisss ut thlst oupuuy 10 th Wustorn Unlon ol saranh Come i Vii¥ urdor of tho Board of Dirctars. A. B CHANDLER, Pros't. AT HBMBNTH. APOLLO THEATRE ‘Flhilrd-ay., noar flarclon-ut, ' Sebioul, will yoc ulve Puplls In Fiucution, Bratory, and 'ho FEMAL UKL [ £uital Liorature, ®47 Indluna-av., dnn. 11, NA it TN Aty } o wroat LEL B Th ook B sutibind Kl wn vory nlglt und A hursdey ] Purw wnd Aptad, tuoon | P EEAN R To-Nraht, duu, 18, d'.!m‘\""‘i‘:‘h"'.‘.’.' Uomi Lglia ‘}‘3.‘...-.'.-.»41 "nuun. FIRM CHANGES, " mwgm.,mmuh 5. m:usu. DISSOLUTION, . = e Linvy ‘o B of C. W, UEQUA & CO. la thia day dis t LYANIA MILITARY ACADEM solyed by miutual consont. . 1 ¢h Iemlnwnuu, mlmm\“lryc e, b ;hfi'k’fi%.fim‘(‘{\ I‘;-“n-mwmud to siyn tuo name ol ue 'L, A, COSU ‘ o) ' il GrCOHEG | " CuiCayo, Jah 1 s, LG Wwoua Faney Shirts and Night-Shirts of FRIDAY, Thye Eribunz, ‘Tatss ease for tho defense in the Lrish Stato trlals was. opened yesterday by Mr, Mae- donough, counsel for the traversers, 1le res called his conneetion with the O'Connelt trial In 1843, and defended the prinel- ples of tho Land League, soying thut thoy were thie principles of John Stuart Ml 1o held . that. but for following the ndvice of the Land Lengue th tarmers would have been drlven nto the work-house, and that, wero 1L nol for the Engllsh Government, the landlords would be driven Into tho sea, ‘The Intler statement will hardly be doubted. Mr, Forster sinted in the ouscof Comnons that Davitt ind not conunitted Wmselt by seditions speeeh or fllegal action sinee ho was liberated from prison. Lord Randolph Churchill will be hardly satisfied with the ansvior. ‘T House went into Committee of the Whole o the Wootl Itefunding bill yesters day, and after a wearlsomo debate adopted o much-nmended amendment offered by Ran- JANUARY uall, which provides for refunding 5400,000,~ 000 of the debt In ¥ per cent bonds, redeemu- bls In five years' and payable In ten years, and for refundivg §390,000,000 of tho «lebt in certificates bearing 8 per cont Interest, redecmable fn one year and paya- | Dle fn ten, Somue passnges-at-nris took placel between Reed, of Malne, and Randatl, the former necusing the Iatter of something like demagogy, Frank Hurdalso feltwggrieved at some remarks by n brother Democrat, Myers, of Indiann, and. rose to a personal oxplanation, Several amendinents of an’ exceedingly wild character were ruled out of order, FrrTy-roun of ex-Speaker irow’s support. ers refused to go into the Republiean tegis- iative cancus at Iarrisburg Inst eventng, and two members who attended withdrew from the enucus when it became plaln that they would be hound by the nctfon of the eauens it thoy stald. MMr. Oliver, of Dittshurg, recelved the nomination on the thivd ballot, but this does not menn an election by any means, as only ninety-four membersnttended the caucus, whilo it requires 126 votes to elect. ‘I'herais o rumor of n conlition be- tween the Grow men and the Democrats, At present ull §s ehnos, and it s limpossibld to predict the out Tur Special Agont of the Treasury who was sent to investigate the ‘charges mude against Marshal IPitzsiminons, of Georgin, findsthat that ofticiat failed to cobperate with the revenuo oflicers in- suppressing ilielt distitling, and retained 85,500 In fees due his deputies, exueting u receipt in full from the deputles, however, Fizshinmons refused to suy what he did with the money, his only reply being that. he was responsible, person- ally reaponsible, for the amount, 'This model Marshal s expected /to hand In his resignation in a fow duys, * Why he was not asked for it long ngo it is diftlcult to under- stand, It s not an easy- muttor to serve e\lctlon notlees in Ireland, - Some 850 policemen and a squadron of dragoons are assembled atu place ealled Drumlish that they may proteet n Buliltf who Is to serve eviction notices on Lord Granard’s tenants in the vielnity. The tenants aro nrmed with plkes, scythes, and such other primitive weapons of offense s they ean fny hands on, “Che military foreels walting for reinforcements, ns 1t docs not feel equal to the tusk of proteeting the of- fending Balliff, Lord Granard, the evicting Inndlord, is 8 Roman Catholle, and is now Presldent of the Irish Catholie Union, [ Gex, GitANT has been tendered and has ac- Conunlssion. 'Phe followlng I the list of Viee-Presidents: 1. G. Stebbins, Ilugh J. Jewett, William A, Cole, Augustus Sehell, Frederlek L. ‘Taleott, Gen. Joseph E. John- Fairbank, of this city, is a membar of the Excentive Committee. ‘Tho fuir projulses to L o suecess, — Turns are about 50,000 colllers on a strike In England. ‘The strike miises out ot an at- tempt wmade by wlne-owners to contract themselves outside of the provisions of the Employers’ Liahllity net passed at tho lust sesston of Parlinment, "The frequoncy of terrtble minenceldents In Bugland will ac- count for tho desire of the mine-owners to avold responsibility for their curelesness and cupldity, Presinest AND M, 1AvES gove n state dinner last night In honor ot the Judges of the Supreme Court, Judges Harlan, Miller, Swayne, Brudley, Field, and their wives, Judge Woods, Chief~Justies Walto and Mrs, Wauite, and u distinguished compuny of prominent publle men were present. Tho dinner was the first of 'n gurles of such to be wlven at tho White House before the 4th of Mareh, | Anovr 200 Kansas farmers bave been In sesslon ut Topeks for-two dnys, ‘They have adopted resolutlons fuvoring the creation of n State Board of Rallrond and Warchouse Commissloners, and orgunized n Farmers® Allfance, or which the Presldont Is W, S, Curey of Shawnee County, the Treasurer George 1, Unbbard of I'swnee County, and the Seeretary L, A, Mulholland, Tux house of o German named Viskow, near Oslikosh, Wis,, was' discovered on fire Wednesday night, | ‘Tue nefghbors, o going to uscertnin the cause, discovered Viskow's daughter outside tho houss with hor throat cut from enr to enr, mud afterwards discov- ered tho remning of Viskow and his wife, the lutter witli the thront cut, in the débrls ot «the burned building A rine ot Trenton, Tenn., destroyed tho IHerald oftice, Kelly's jowolry store, Kbbeit's confectlonery, und the !leks llouse, the only hote! in the tawn. "L'ho loss was heavy. T'he pleking-room of the Merrimune Woolen- 2l at Lowell, Mass:, was dostroywd by (ire yestovday, The loss, which s fully covered by Insurance, Iy estimated at $:20,000, Axoruen Avetie visitatlon swept through the Northwestern States und "lorritories yos- terduy, bringing consideruble snow in its walka and loweriue the' thermonioter to sov- oral degrees bolow zero, I$ has ulready struek this eity with full force, and tho there mometer at this wrlting, 3u.m., Is down to 13 below zero, T'uz Scnate yesterday pumnd MeAillan's bill providing for the payment of duinages whilch may booecasioned to the Indlsas by the construction - of . reservoirs. at tho headwaters of tho Misslssippl; nlso vro- viding for the ' lmuedliate constructlon cepted the Presidency of the World's Falr ston, and the Rev. Dy, Newman, Mr. N, K.- 14, 1881 of a dam at Lake Winneblgoskish., Sen- ator Logan's franking privilege resolntion was reterred tothe Committee on Post-Oflices by o vote of 3 to 2%, ‘Tho ate then took 1 the Avmy bitl nnd ndopted Mr, Edaumls amendiment providing for the puyment to the Aundegrant raflroads of 50 per cent of thelr [LITIER wmount to be pald sh provided further, that the total tld notexeeed $1225,000, Mit, RyrANDs, an F.nzlmh Radieal, stated in the House of Commaons yesterduy that he did not think that coercive nicasures should be adopted for Ireland. Mr, Smyth, an Irish menmber, sald that o strong “Land aet with cocrelon would cuuse “tho Innd agitation to nass away Jiko o' storm. from this side the Atlantle, Comsononts Lyser, of the Chilian navy, and of the Chilian army for that malter, co palus that ouy Consul at Chimbote, in Peru, preventod him from plundering the in- habltants by clniming that their property belouged to a United States eitizen, Mr, Liyieh iy have made o mistake, Trr Republlean legisiative eaucus at Al- Dany last evening resulted in the nomination of Mr, 'Thomas Platt, The fimt ballot stood : att, 515 Crowley, 203 Sherman [ogers, 103 Lapham, 4; VieePresident Wheeler, 104 Morton, 1. Mr. Piatt’s nombuation was made ununimous, RernEsENTATIVE WILLIAME, of Montzom- ery, Introdueed n bill in the Lower House of the State Leglsiature yesterday to prevent rallronds from poullng thelr. earnlngs. 'I'ho bl provides for w penalty of S3VM per day onench rond concerned fn. the peoling ar- rangement. T1rosrAs AMnnose, lato Clerk of the United States Courts of the Southern Distrlet of Ohlo, and who failed o' turn over fees amounting to about 820,000, is sald to have taken up his aaode tn Canada in order to uvold the consequence of his peeulutions, | Dy nvoteoft to#, the Ilouse Committee on Military Affairs ngread to report adverse- Iygon the I of Mr. MeCobk providing for the retirement of Gen, Gradt with the rank and pay of General of tho'Army, Mr Me- Cook will present n minority report, * — SursriNTENDENT McGAmaLE thinks that he will need 850,525 to run_ the Police De- partment suceesstully this year, and .will re- quess the Connmon Counctl to appropriate that sum for tho purpose. e wants twenty- three additional patr Iris now stated that Gov. Foster does not wish a place In President Gavtield’s Cablnet, but that he will be n candldate for redicction 1o his .present position, Gen. Gartield Is of apinion, It s added, that Ohlo should not ve represenetd in the Cavbinet. e s Oxi of the spans of an fron bridgo be- tween Gravelund and Iaverhill, Mass., guve way yesterday while n four-horse team with n heavy load of lumber was passing, The driver eseaped. A horse-car passed Insafety o few minutes before, ‘Luirs Democrnts of the Coanceticut -Legis- Inturs hnve confurred on § sitor Eaton tho cimpty honor of s nomluutish for the United Slates: Senntorship, to-which Gen, 1lawley will'bo eleeted next Vuesda, SkxATon Pows, of the Canndian Sennte, has given notice of his intention to direct the attention of that budy: to the charges of fraud In cmmcctlou with the Hullfux Fishery Hind, SeNAror WiiriNa Introduced a bl in the State Senate yesterday vroviding for n tax on the gross earninugs of télegraph com- panies, and Senator De Lung introduced ubill to prohibit pool-seiting, Mus, Gronar: Romysuy wius found dead In her honse at Norwieh, Conn., early yes- Terduy morning, ler body was fearfully burned, She is supposed to have fallen on the stove during a L. A zustnin of cows, lows, enlves, and othor beasts have died of hydrophobln fn tho northern part of, Vermilion County in this State. ‘The people are muking a war on_the dogs In consequenc Suxaror Srcwsr's resolution, favoring mensures to provent the spread of plouro- pnewmnonin among the cattle of this State, was ndopted by both branches of the State Leglsluturo yesterday, Dumixa the mouth of Novemhor of ‘Inst yenr 2,634,002 worth of petroleum was ex- ported from this comntry; ngniust §3; worth for the correspoinding month of 169, e e 84N Doxixgo had nsmnll revolution the othor day. Jenn Dios, the revolutionary agitator, and four of his followers wero Lilled, and twenty others wero wounded, ] ‘Tus rice and cotton crops of South Caro- lna have been very much damuged by the recont wot wenther, "The vice evop s suld to be tho worst ever known In tho State, phdie i Sy Tz new Canadinn syndicate offor to bulld tho Canadlun Pacitio Railway for §:22,000,000 and 22,000,000 acres of lund, and thoy will not clafus exemption from taxation, et e oot ‘Tue; Flemish Inhabitants of Belgium hnve Joined thelr Duteh neighbors In potitioning England to treat the Boers with lenlency and to nceord thew Indopendence, ' i wetow) Ty Grandg Jury of Newnrk, N, J,, has recommended -the redstublishment of tho whipping-posts for those human fends who pructieo wite-benting. 17 was rumored st Indinnapolis Inst night that the coflin of Gov, Willums hud been dug up and robbed of itsallver trlnunings and other ornuments. e ‘Piis Froneh Govornmont eontemplates o Joun of 500,000,000 frates ut 3 purcent to com- Dlote some mititary sud sumo publie works, i Irisbelloved In sy clreles that Judge-, Advoento-Genoral Dunnwud Surgeon-Gonoral Barnes willsoon be pluced on the retlved list, piltuitometeicvtoiy i A THEATRE ot Cronstadt, Itussia, has humi destroyed by fire, sl the direotor :uul soyen others perishod fn tho thanes,, Tk Russlan Gramd Duko Michaol claims thut Gen, Skobeleft defeated the ’lun.omnus nt Goeke-Toepe on the 4th Inst, Gov. PLAWTED took tha oath of ofiteo aul dolivered his Insugural wddress to tlm Mulue Luglxlulure yostorday. i * My, BA’rmmx. other of l\nte anmnn, | tho colubruted actress, Iy 1! —TWELVE PAGES. SHORT TIME: Second Defeat of the Na- tional-Bank Menin the House. The Bonds fo Bo Redeemable In Five Yenrs with the Op- tion of Ten. One Year the Time for the Certificates, with Ten Years’ Option. All Efforts to Untax the Overbur- dened OCapitalists Moenaced from All Sides, Much of This Anti-Capitalistic Talk, However, the Cheap- est of Demagogy. The Secretary of the Treasury to Pay Al He Can in Sil- ver Dollars. The Remarks of My, Randall and Mr. Reed Flavored with a Few Mild Personalities. Effort of Mr. Raudall to Iave the Whole Issue Denominated ¢ Bonds,” Fornando Wood Teft Ont in the Oold—Tho Bennte Relied on to Improve the Measuro, SUMMING UD, TIE DAY'S WONK, Bpecial Dispatch to The Chicago Tribune. WasmiNaros, 1, C, Jan, 18.—The ilouse to-dny in Committee of the Whole ngreed upon the geners! fentures of the Funding DI which will probubly be sent to the Sen- ate. ‘Theroarestill ndditionat amendments to bo offered which will cover every possibla phace of the financial subjeet, from the greenback theory to the relmposition of the income tax, * But the speeches on the ques- tlons are ltkely to be nade for buncombe, and it 1s probable that the bill as agreed to In the Committee to-day will not be materlal- Iy modified when itshall come into the House for finel action, THY SCHEME PROPOSED, inshort, {s that tho $620,000,000 bonds re- deemnblo in May and July of this year shall be refunded into not exceeding $400,000,000 of 3 percent bonds, redecinable In five and payable in ten years, and into net execeding £300,000,000 of § percenteertificates, redeemn- DLie in,one and payable in ten yenrs, No one Awhose opinion I8 worth anythingon finaneinl subjects hero concedes that the bill proposed, fenncted into n law, would be practieable., No one supposes thut the Uniteldl States JGovernment or anybody else can authorl two issues of howds (for the certiticates are bLonds under nnother unme) drawing the sume rate of interest, redeeniable one in one and the other in five yeuars, and SELL HOTI CLARSES OF THESE BONDS, 1t has been urged by many who have been opposing the National banks in this debato that something should be done in the inter- ests of the masses, and aguinst what they called *tho mwonopolists.” Those Congress- men representing thase views have been very eager to foree upon tha Jouse the bill the detuils of which were nzreed to to-day. Yet there could seircely have been a more cun- ning plan for tho creatlon of two clusses .ofInterest than this, ‘The banks, of - course, ‘1t they continue thelr elreulution, will take the 5108 per cents, and will control thew, us they will, by all laws of flnunce, bo o more valu; ablo fnvestment than a8 per cent bond re deemable u one year, TIE MASSES, who are to partleipate in this so-called pop- ulir loun, Wil be compelled Lo take the 8 per cent 1-10 certliieates, which witl not be able to command the sane mrket price as the 510 bonds, and will, of course, . relatively yleld o less rate of interest, A strike Ing feature. in toxlay's proceedings was that Speaker Raudall, by virtue of his aggressiveness, practically took entire charge of the measure, and sont Fernando Wood, who was the proper nunnger of tho bill, to tho rear, Mr. Wood dil not agréd with Spealker Randatl In many ot his propositious, Ho certalnly was opposed (o making the dis- tinctlon that wis made as 1o the thne of the certitieates ahd the bonds, and in his speech of yesterday ho Inthmated that he dld not conslder It practicable to negotiaton 8 per cent lonn unless thore should bo some redue- tion In the taxation of Nutloual bunks. This RESOLUTELY OMPOSED BY A MAJOUITY of the Detoerats under the lead of Speaker Randall, tho latter wmsintulning that tho provositions of that kind whleh were mude were not germane, sud tho amendments were ruled out of order. The Chalrman of the Committee of tho Whole, Mr. Covert, took his cuo ns to rulings from the position assumed by tho Speaker on the fleor. The best opluien ls that the bill will be modifled In the Scnate 50 a8 to give the Seeretury of the Treusury diseretion within the it of 8¢ wver cent, nud that the bill thus amended will uitl- mately b adopted through the repors of a Conference Comnmittoe, Some ot the Demo- crats winloubtadly voted with this bellet, It way, of course, & demngog trick by which they will bo uble to say that thoy- voted for tho lowest rate, but were compelled by tho Senatw to uccopt w higher rate, THE DEBATE IN DETAIL will not furnish o very valuable contribution to our Nutlonal financinl history, MMr, Rane dull sndeavored to havo the entire $830,000,+ 000 fasuied in bondds, aud not to Issuo certitls cates, 11¢ sufd he nover could undenstaud tho distinctlon between n bowd by name rep- resonting tho Indebtedness of the Governe went md w Lreasury noto representing the Indebtodness of the Government, but ho was Induced to yleld his point, ‘Townsheud, of 1llinoly, made n very vigorous nssault upon the Natlonal banks, and succoedod In incorporuting o provislon which ebunged tue ohurnetor of . the lssue, (iXing It -nt $400,000,000 of bLonds and 300,000,000 of notes, "Il wmendment of M, Townshiond will probably finully g Into the blll, Towns- hend “fnalsted that the bmks would not ko out of existonco I the ral of Interest was roduced to 3 poer cont. - Hu. sald thatthe pawor which contruls tho clreulution of the country |s the dictutor of its Ununcesy ol thut the Natlonal baunks lold that- position, ‘The §300,000,000 of cestiticates, -y thouglht, The Chicagy Dailn Teibune, wonld take the ptace of any National-bank notes that might be withdrawn from eclreu- lation. Townghend plainly sabl that” he was oppased to the Issue of any cireulution by Nutiohal banks, ns thelr notey were THEASULY NOTES INDOISED BY THE UNITED BEATLS, Ite etnimed that the burdens of the banks were shown by the fuct that they hnve pald only 5000000 I tax, while thoy lave drawn trom the “I'rensury in Interest over £20,000,000, Casey Young, of Teunessee, made a speeeh which was afine plece of po- ltleal surcasm. Ile referred to the record on the financinl gnestion of Speaker Randudl, Jundolph Tucker,. Cartisle, and others, to show that thelr present zeal in the Interests of United States bonds was nopolitieal annchronism, a3 1t was not muny years since they were denounchg the United States bond as an unelean thing that no one could sufely touch, and that the bundholders were FINANCIAL LEPENS tobe avolded. Now these same gentlemen were standing side by slde with the Repub- lieans, hie said, In advoeaey of the continn- uneeof the banks and the Londs. 1laskell, of Khinsus, puton record his opinfon thut the loan would fall. Gilletto endenvored to havethebill provide thut the whote $700,000,000 shonld be fssued in Treasury certifientes. An i ent suzgested by Speaker Ran- all, preventing donble interest, was adopted. Judge Kelley congratulated the Houss on having adopled the essentinl fentnres of his substitute, Weaver seeured sIsty-six votes for a provision that the new bonds might be palid in lawful, monéy, Anderson, of Kan- sae, sought Lo incorporate an amendment which should prevent the Issue or renewnl of ASY FUNTHER CUANTENS Tu SATIONAL and which shonld provide for the Issuc of # curreney whieh shall not be leanl tender, but he was. unsuceessful. The House adjourned, leaving u dozen members on thelr feet, eazer to add addition- al seetions to the bill, providing for an fn come tax and for every other Imuglnable scheme, The following s TUE FIST SECTION OF THE DILL in the form in which it was finnlly agreed upon in Committee of the Whole: ‘Tt ull extsting provisions of the law nuthor- izl the refundiug ol tho Natlonal debt stull apply to any bouds of tho United States bearing a higher rate of interest than 4% per cent which may hereafter becomo redeemnble; provided, that, in llew of the bonds nuthorized to Lo dssued by tho net of July 1f, 181, and the acts aniendutory there- to, and tho certitientos nuthorlzed by the act of February 25, 1870, tho Secretary of the Treus- ury is heroby authorized to Issue bonds in tho nmount of not exceoding & 100,000,000, which stalt bear futerest at tho rate of § per cont peran- num, redeomnble at the plensure of the United Stutes after five yeurs, und payable ten yenrs from tne date of fssue; and also certificates to tho umoant of £:00,000,0, bearing interertut the Tote of 3 per cent per nnuiin, redeesnble at tho pleasire of the United States ufter one year, aud payable in ten years from the date of issue, Tho bonds and certiticates shall be in ull other respects of like charneter and subject to the same provisions us tho bonds nuthorized to be Issued by the set of July 14, 18502 provided, thut nothing In this act sball be so construed us to uuthorize un incrense of tho public dubt; and provided, further, that, beforo suy of the bouds or notes authorized by this act are fa- sued, it sholl bo the duty of tho Seerotnry of the Treasury to pay on tho bunds ncerulng in 1831 all the silver dollurs of 41245 grains and all gold over and ubove $0,000,00 now held In tho Trousury for fedemption purposes; and providud, fur thor, that thofutorest uposn the 8 pur cent boneds heros by uuthorizod to be refuinded shall conse at the oxplrution uf' thirty days ufter notice’ that the sume bave been designated by the Secretary of the Preasury for redemntion. THE DEBATE. WASHINGTON, D, G,y Jan. 13,—The 1ouse went into Committee of the Whole™ (Mr, Covert, of Now York, in the chair) on the Funding bill. The penifiiz amendment wus that offered by Mr. Randall, authorizing the 1=5u0 0f bonds in amount not excevding $630,- 000,000, which shall bear Intetest at the rate of 3 per eent, redeemable after — years, Mr, Wood hoped the gentleman from Tennsylvauln (Rendall) would expluin his proposition, which wus rather novel, Mr. Randall snid he had never thoroughly understood the difference between # bond and a certitiente bearing the samo rate of in- terest. 1lu desired merely to simplify the LI by making o debt of one description, Mr. F.Wood could not sco the necessity fora change from the historical practico of the rountry, Mr. ‘Townshend (I11.) offered- AN ANESDIEST TO 1, LAND ALL'S AMEND- fixing the amount ur bumN al 400,000,000 and the mmount of nates at §300,000,000. 1le denled the statement which hnd been mnde on the Republican side, that to compel Na- tional bunks to take 3 per cent bonds would be to destroy«the Nationul bank system. 1t the bonds now held by the Nationnl banks were 3 per cent bonds, thelr annual protit wotld be £6,000,000, ‘I'he National banks to- day held a monopoly upon the cireulation of the country, 1lis nmendment authorizes the Seeretary to Issue §300,000,000 in ‘Treasury notes, so that 1f the Nuttonnl banks should re- fuse the 8 per cent bonds and retire thelr efr- culntion, the currency. would not bo con- tracted. . o Mit. RANDALL MODIFIED IS AMENDMENT 1o read ns follows: *The Secretary of the Treasury is hereby suthorized to Issuo bonds or certifieates In tho amount of not exeeeding $65,000,000, which shall bear interest at the rate of i per cent per punum, redeemable nt the plensure .of the Government after two yews from fssue,” Mz, Myers nnswered a speeely made some days ago by Mr, Hurd on the silver question, and intimated that the gentleman bl been gullty of Inconisistency upon that question, M Mills offered an anendment to Mr, Ttandall’s mmendinent, muking the bondsand certifieates redeemnblo I one year and pay- ablu lu ton yenrs, My, Young (Tenn,) thought that no kind of refunding wus necessury, This he wutherud from the two gontlemen from Penn- sylvanla (Kelley and Ruudall), who wers an opposit sldes of the question, My, Rundall, who ndvaeated a 8 per cent bond, had stated that the Sceretary of tho ' ‘I'rensury could ex- tinguish §270,000,000 of debt In threa yenrs, The remuinlng £400,000,000 could be estin- guished fn Jess thantwico that time. 1o hind reuched tho concinslon that in less thaw suven yenrs the 5 and 0 per cent debt would bo oxtimguished by the ncerulug yevenues of the Goverument, ; MR, PRICE v opposed 0 very short timoor n8 per cont bond, fenrine there wonld bs ne murket for 1t, wiud thut the credit of the country would be Jinpuired. MMy, Iurd, In reply to 3Mr, Myers, denled that s hand over uttered o word ou this tloor which had been Inconsistont with any specehes which o hud mide during his varl- ous politieal eampuigns, Ho was glad of the opportunlty which was presented of un- decelvhg peoplo who sald that, fn his cam- pulgns in Northern Otio, he pursued one coursaund on this floor unother, o bud always wnintained that the demonetiztion of siiver had worked nn fnjustlce to the peo- ple of the country, and, thoreforey 1E WAD URGED JT5 REMONETIZATION. | e bad urged thut sllver aud gold should PRICE FIVE CEJ 3 .‘I, stand on the snine bnsta, put 400 grains in a sliver ‘.; make it s dolldr worth 1¢&Shts, He res prated what e had sald /S8 Jdays o~ that a specle resumptiof & Nled on n silver dollar of 41214 grains w delusion and n snare, . . Mr. Carlisle, referring=i fsome remarks mndoby Mr. Young, of ‘Tennessee, suld that the gentleman wes In favor of leaving oute statding In the hands of the National banks bonds of the Government benring interest at therateof Hand O per cent, while he (Car- lisle) was in favor compelling the National bunks to receive bonds bearing 3 per cent interest. As to the cconomy of refunding or not refunding, the gentleman from Pennsyle vania (Kelley) had submitted some figures In which it nppeared that,” In‘order to ex- tinguish the 837,000,000 of 5% and 6s by an annunl payment of 60,000,000 it would re~ quire from the publle ‘Freasury the sum of £32,000,000, [T (Carlisie) hek! in hig lhand a ealenlation by which It was shown that, i1 those bonds were refunded at the rate of 3 ver cent, and pukil in precisely the same way, that the debt would be extingulshed in px< netly the same time at the cost of $743,000,« 000. The questlon was whether Congress would SAVE TO THE PEOPLE TIESE 878,000,000 1 & periud of ten years, or givo it 1o the Natlonn] banks ns interest on thele bonds, Even should the per cent bonds rise [n the market to o premium of 3 per cents (which was hurdly possible). stitl the wholo premium paid by the Govermment would only be about $19,000,000, which, deducted” from §78,000,000, would still leave n saving to the people of £59,000,000, Mr. Ilnskell expressed the opinion that not « country National bunk in the West could stand on Its feet I this bill passed fixing fn= terest nt 3 per cent, Mr. Iteed eriticised the action of the Speak- er in making this question a party question, ‘The Speaker had declared that the Demos eratie party had nlways been In favor of pay~ ing the Nativnal debt, Ile would not charge , BU_ 08 to | the -~ Speaker with' having believed that, cexcept- for o moment, hee cuse he and his party had gouo down In three pitched battles on that very question, Ie had merely desired to sound the party toesin, and bring the party solidly to the question of n 3 per cent option hond, Mr. Randull (the Spenker) stated that he hud been somewhat AMUSED AT THE LECTURE OF THE GENTLE= MAN FROM MAINE (eed), but he wished to remind the gentlos man that the rules required that the Speaker should be on the floor whife the Ilouse was in Committee.. "T'he " gentleman's leetura might better have come from any other mems ber, for that gentleman had never gone very far beyond the linesof the narrowest parti- sanship, e, therefore, recommended the gentleman to cast the beam from his own cya before he troubled himself about the mote in. the eye of his neighbor, Mr. Reed was sorry that the Speaker ‘had | taken his observations fn the Nght of a per- sonnl lecture. The object of what he said had been to call attention to the partisanship which had been ndopted Innmutter in which there hitd not been the remotest clement of, party untit it had been dragged In by the Spenker. As totho cliarge that he was o pavtlsan, hie was glad to say that tha wisdom of u good party like the Republican pnrty was better than il the non-purtisanship that had ever fooled the people. ALr, I'. Wood sald that tho Ilouso had )L's< terday fixed the rate of interestut 3 per centy HE NEXT QUESTION: OF IMIPORTANCE was a8 te fiow lonz the bonds should run. 1le ro gretted to find that very ntelligent gen- tleamen were running into what he coneelved 1o be a very radleal errorin limiting to n very short period of time the option of the Government to redeem the bonds. The prop- osition that, in fssulng a grave and grent obli gaton of the Government, Congress shoulil predieate its power to meet 1t at mnturlty on revenues not yet recelved was In dtself o vory dangerous one. ‘Lhe gentlemen referred to an existing large surplus, and to tho great prosperity of the country to show thnt tho surplus was likely to contiune. 'They were entlrely In error not only ny to the real sur- plusof rovenue, butalso ns to the continuanco of u Jurge surplus, . In 1872 the revenue frout customs hud been 216,000,000, and in 1870 it had fallen to $150,000,000, It was very evident to him that for ® Congress to furm out those supposed revenucy in advance was not the policy whieh a great Government should adopt. But even admits ting that this large surplus would continue, were the gentlesen wilting to tle thelr hands in advanee, to be responsible by their votes for 1 continunnco of the cuormous burden Imposed by taxation? }Jle would not consent to that, Mo was willing to reduce the thne ns low s was consistent with a successful sale of bonds, Y M RANDALL ACCEPTED THI AMENDMENT afferedd to his amendiment by Mr. Townshend (111) Mmiting the nuount of honds and cer tlieates to be Issued, whereupon Mr. Mills offered an amendment making the bonds and certifientes redeemnble In one yenr and paya- bl 1 ten, which was also aceepted by Mr, Randall, Mr, Cluflin moved to amend by making the -bonds redeomnble fn five years and pnyflblu inten. Agreed to without divislon, * Mr, Ryan moved to amend by making um bowmds payable In twenty years, Itejected,— T agninst 1L 3z, Glllotto moved to tnsort, In flon of “honds and certlticates,” tho words, *§700,« 000,000 of ‘F'rensury notes,” Rejected. MMr, Randall's amondment, as amended, was then adopted,—128 agninsy 2 (Messrs, Weaver and Gilletto), mud he' then proposed o further mmendment, relutlve to interest on tho 6 per eents, which was adopted, 1 BECTION NOW READS as follows? ¢ Thut all vxlsting provistons of tho lnw nuthore f2fug the refunding of the Nutlonnl debt shatl anply to any bouds of the Untted States bearlug u ighor ruto ot luterest thun 433 per cent per annum, which may herenfter beemno redocms~ uble; provided, tbat In lleu of bonds nuthorized 10 Lo {ssued by the uct of July 14, 1870, entitled *An gt to authorlze the refunding of the Nue tionul debt oud nots wmendatory thoreto, and. . cortilleates authorlzed by the uvt of Fob, 23, 167, ontitled *An act to. nuthorizo! tho fssue of cortitleutes of deposit In aild of the refunding of tha publls dobt,'* tho Beerotury of tho Trousury s heroby aue thortzed to fssue bonds fn an amount of not . exceeding $400,004000, which shall bunr Interess = © at tho rato of § per cont por unnum, rodeemablo ut tho pleasure of tho United Stutes after ive yours und puyablo ten years frow dute of issuoy and ulso certitientes n tho amoupt of not ox= conding $300,000,000, bunring futerest at tho mto of § per cout per annuw, redecunblo at tho pleasire of the United States after one yonr #nd payable in ten years trom duto of {ssuo, The bonds and cortiticutey shall bo {nall other . respects of llxe charaoter, and subjoct to tho’ sumo provisions us the bond uuthorized to be | fusucd Ly tho nct of July 14, 183y, entitlud *An act to aurhorizo tho rofunding of the Nutional debt,”” sn sct mnendatory theretog provided, that nothiug in this act shull bo so construed; as-to wutboriza an fnercase of the: publio debt; and providod, furthor, that baforoany of tho bonds ur cortilluates authorized by this act ure jusucd, 1t shull bo the duty-of the Boorotary - of the ‘Yrousury to pay on bouds secruluy durlog tho yoar 1881, ull tho silver dollars of 4125 graing, und atl the gold over sud above $5,000,000 in tho. reasury for redemption purposea; aud pro- vided, furthor, thut nterest on the 6 por cent bonds hereby wuthorized to be refunded sball ccuse ut tho expiration of thirty duys after, i j I i i \ 3 i i i i