Show DONDS A LOUR letter from r the th stetary iru of the th 11 1 1 ry to ilyaso Torr lU D dec on 30 senator 31 morrill re 1 ha has public A bill tile blowing letter irom the iho icentary Scent ary of the trees ury concern in g refunding TaKA or OF ity ivaal 1 I 1 lojiw to hon ta S committee coave AIM m finally united states state senate semite bin bare in ia res lo be your drbal en co qui quinca riele I 1 have bavo the honor to submit the follow log observations the refunding or of the iho general copl fin lond ad clit arrit 1 in tamper BIT per cent b tills abs payable de dec blat 1 real and Olt P paya lilo jell pu ll l l 1881 tho the frel lowing bonds of tho the audited battles will bo be red Anable bibin ilia neT ADt balf year viz tax may 31 give per cents 0 juno june I 1 R 1 a it V per tact making a total loial of the annual interest lol creet on which is about haimof hands having coupons connotes running ool v on dates anti it if they arc not nol w m fura funded dedor or paid air the iho bobi taswill bate to bo be sap supplied plIed with additional con thecla nl at of the ibo odawn ratu reat and at a creat probably rerat rl rAt afta knot as mould pay for tile lie original met of the loan it is meet apil bonja bonds cannot ile 1 paid oft A in I 1 1 no find I 1 therefore alic foil felt it my duty to r met it in nir lily annual to re port per that but horil bo jr g I 1 red to 10 to ro road fuad them into I 1 per c cent at booda bond thus ellec ting a finking in an tho the a 0 n 4 I 1 IDT enter ct c at t ch rge of n ut u 0 0 abe be p at time limo I 1 believe ilia hie most for far uch such yerem beig aim probably bably much more for funding than any future time nod and ate a leave ali bland a i I 1 per COOL bomol a lood bond almady well known ind and popular the lending of so do large ft a portion or of the public debt into these heads bonds during the put past year vt am mainly initial Y duo to the iho a favorable state olour of our foreign and tame homo trade aad ad the m u M pawn or of specie payments and it la ia my fircha belier that our vincent couro couns is to tho the of the head bonds hearsay a high rate of inter addor cat Abille this plate ot of mintlo UPS ties the bill introduced in ID the ibo ilan bouw houw nf at rii oo on the ibo oil instent tent aig by F ando wood thair I 1 nid e of r t the I 1 committee on ways and means and which han half been mint 8 to a me provides as follows th that ia SO 0 o much of the ohp authority tip upon on if the atry secretary of the Tr treasury eury by the act ol of july 1 itah lab larf and wi 1811 to 0 o refund the public bubl to the ebbot of 01 woo as has not nol been exhausted and executed be and llie tame an b hereby by modified so na as to limit the ibo rate ol of inc revea upon bonds lt to be issued as authorized by lime acts to 10 a rate of lot crest not dot to exceed sri per per arduin this thin bill it if into a law would be contested as aa prohibiting the booda bonds for resumption purposes at a greater rate of lattreu cil than 21 per cen acot arbough ucb such to is not the incent of the iho bill aside however from its ita po possible iSible b coring upon the old ability lily or of the do pertinent to a resumption I 1 believe lt it 1 would be I A list to lo the I 1 C ole though I 1 fell ou id do of f be beppy 10 refund the dibal into inlo net coats if it were po bac to lo ila do ao I 1 lint aea per cint bonds bond would mould n afir 1 site ain full an BAIS ia oil and I 1 we am no reason to lo expect thit hit see ucb b a bond bod will mill ix III wore looked it pora go 05 an lav uncut in IM won it il would a aid be ow allot oo 00 A ill tin me coo bracy with still the ol of industry and eat act ivill in the lb alg in im alre mayto to bo be seen la in bit all puru part or of tile country III abo a coumont not od ig rec g for money arming rn 1 m an it il seems to lo me to lie bo ool not at nil 11 meant cerium 4 we abill albun bo be able 1 to borrow a an fridy at even I 1 per coat per annum ai 9 on dnn and ol of tile the correct aim of 01 rl vs e a I 1 received an ampil I 1 lice nive assur assurance anca during my isal to lo nem york our 1 4 pcr atrit orn an IN now ear having twenty eight yn in to run were wort worth ilia frithiof frit hilf of able montle Idl net BI at aich price they ibry yield to fee ic cAtar to curry carry to maturity 3 percent per A thirty birl y yara an 3 per attained to lo mild ibue aino income would donld baito to be purchased at again a 4 pcr cent bond to had but bul 81 S pir cent pir pcr minum annum cold bno baio to lu bo be purchased porch Mcd at a nod nodi I 1 allen fore a 81 blind can not nol fell if fur cie par until the 4 per cent bonds bondi sr arc north IOS SS 83 I 1 would ou tant during the lie tact lat abr sale FC got of four pt pir r acm at bunda bonds bad to IN bi on cd ad more ilion iban once owing to gc nicol la in I 1 ditc itc money ond and the ibo un on layor table eijiu cousin causing 9 ilia alic bond to lo atlow par nt at one ODO time lime to lo 9 09 per cent ilia ibo were but and forr more or lead doiny the iha was able to revenue 1 I I 1 ili ilk the present an exec P lineally fur car refunding if nod find I 1 nm limited the tive live per ceat rent and ad six BIX per cent bandit so u dean to lo tic he conic cincot bo be BO aw rarely and profitably fur for in any other windier avery A vary large amount 14 i to lo III bi refunded prior R lo 10 ju july 2 vatel starly is considerably in seem of ulac the amount in any one mr inac began rod and 1 I 1 submit that the linio a now available Is none done too great for the lie put pair pose po TImmus the uge ortho of aliu bill introduced by yourself in 10 the and by geo era ardel tl in ilia house of depre will I 1 belacic enable the department to refund the ibe entire amount prior to lie ilia maturity lua of ito h bonds bonda but ir if it should not dot result in speedily refunding ilia hie hole of them that chance of the bill chich n bleb renders renden applicable the of the ibo act of july WU ale will the to call such cent an and 6 1 I cent bonds after they shelf bare nod aad to red redeem m ilicin v mith ith the hr proceeds of bile ulo in of 1 the be 4 per cent bond ite 0 o I 1 and such pro beed would mould include of mum course what A ili premium pai bonds amny w sell for IN bile it Is not thought art it safe bute to bones that upon mounting th thi fund log lag with WO ibo tile of 4 equal in amount to too fitsum ilia bonds will remain at a price not much min b if any above par it Is I 1 thought that under ilu ilia opera tion of tb the proposed bill portion bartim may be IA induced tile a ed to sum odayl the iho bonds now held by thern upon payment of un an sentient amount not to mated the difference to in la lateresa terest the bondi bond received and them issued a cry rc respectfully bous bUXIA MAN secretary A boy y abw to we sm senator nanct in an 1 alion glon lie modestly comment com munt could it to the iho doorkeeper have you 0 card d air afir he gruffly ia growled fl carda wc rd aid ad the boy t r lyl and mechanically budding his band in IA the rest rear ol of his bis coal no air ir I 1 dont curry carry tin tile arc am you from inquired the north cambria CB rulina w wax the iho prompt reply well he how 30 do you do lu in north cambria Caroli oft cibere people 0 relating why aby ride u up to toj A fells h A rod mid I 1 boiler er lo III him F to 0 tic tl his bit dog anil thee get ct down and go in 1 we wun th abo inconis reply |