OCR Text |
Show RESl nPTIO.1. Which Mcins an Inrrrue or luterent tautl Taxes. Vasliiiig:on, ( 17. The prciara-Uoual prciara-Uoual currency ouuiaudiag aiui sub-fliimioD sub-fliimioD of silver tiierelor are beiug pushed forward by the troasury department. de-partment. To the accomplishment of tins end over $10.iAt,iX0 of 5 per ceut. bouds have aireauy becu used in tne purctiase ot rilver bul.iou, and it will require the disposition of$10,-UOO.Oi-0 more betore a sutlicienl auiuiint ot silver will have been accumulated ac-cumulated to commence the redemption, redemp-tion, thus adding $JU,(Xt,iXX) to the interest bearing debt. To carry out the provisions of the sO-cailed specie resumption bill passed List January, will, il is estimated at the treasury department, necessitate a tot il increase of ttie bonded debt of about $,iA,000. Should this estimate prove correct, there will be an additional burden of near $1S, OOO.iaO imposed upon the taxpayers ol mo wuu:ry to meet the interest on these bouds. Secretary Bristow claims the right under the provisions of tne bill to issue any amount of 5 per cent, bonds necessary to carry it into t fleet. The funding act of 170 fixed the amount ol 5 per cent, bonds to be issued at $- 11,000,000. Of this amount $lbo,000,0u0 have been disposed dis-posed ol, a iid the syndicate bts the option of tho remainder until November Novem-ber next. |