Two More Plans

Washington, Jau. 4.- The curreucy túll promised a week or tea days ago by Senator Jones, of Arkansas, has been puc into shape and its flrst feature is a bond issue. Authority is given to the secretary of the treasury to issue bouds of the United States to the amount of $60O,OUO,000, payable in coin of tlie present standard valué and beSríng interest at the rato of 3 per cent., not to be sold at less than par. Bonds to mature thirty years froni date and be redeemable at tho option of the governnient after twenty years, The secretary is authorized to use the proceeds of the salo of the bonds to defray the current expenses of tho govúrnment and for the redemption of United States legal tender and treasury notes issued under the act of July 14, 189u. The bonds are to be f ree f rom all taxes, tliey are intended for general subscription - popular loan - and to bo paid for in gold, the seoretary being aüowed, howcvor, to accept green backs and the treasury notes of the acts of 1890. Au to the National Banks. National bank associations are permitted to issue cireulating notes to the par value of United States bonds deposited with the secretary of the treasury, and the tax on such circulatiou is reduced to onefourth of 1 per cent. Hereafter no national banking vssociation shall retire its clrculation without written authority from the secretary of the treasury. So much of section 13 of the act of 188a as directs the secretary of the treasury to receive deposits of gold coin and to issue certificates therefor is also repealed. Must Deposit Gold lo Ketire Notes. National banking associatious desiring to retire the whole or any part of their circulatlug notes are required to deposlt old coin equal to the amount of notes to je retired and at all times to keep on deosit with the treasurer of the United States in gold coin a sum equal to flve per cent. of their outstauding cireulating notes, to be used for the redemption of such notes. Not exceoding onehalf of he lawful reserves on account of deposits o be kept by national banking associutions may oonslst of Unitod States bonds ssued uuder this act. (ireenbacks To Ue Caucelled. AH nacional bank and treasury notes of less than $10 denomination are to bo replaced by silver certificates, ie being the purpose that sinall notes shall all be silver certifleates. The secretary of tiie tréasury is directed to redeem and cancel and not reissue the United states and treasury notes as fast as the aggregate of uirculation of United Statos and legal tender notes, treasury notes, silver cercificates and national bank notes shall be in excess of the aggregate amouut of these forms of paper money in circulation at the date of the passage of the act.