The Currency Bill--conference Report

Representa! ivo Gai field submitted to the Houeo on Monday, the report of the Gomroittee of Conference on the Currency Bill. Tlio bilí provides for the issue of 45,000,000 national bank notes to banks, in addition to the 8300,000,000 authorizsd by the aot of 1804, the umount bo provided to be furnished banking associations in States and Territories having less than their apportionment, as contemplated in the apportionment act of 1865. The securiüen for sucb. circulation, deposited with the treasorer of the United States, shall be any descriptie of bonds of the United Staten hearing coin interest. Applications for tbis circulation shall be ade within one year after tho passage of thii et, and the comptroller shall issue to tne banks inaking applieation, giving preferenee to thoso States and territories haviDg the greatest deficieneies. No tank organized under this act shall have a circulation nxceeding 8500,000. A new account of the increased circulation ■ball be made as sooa as practicable, based upon the census of 1870. The comptroller at the end of eacb month is required to report to the Secretary of the Treaeury the amount of circulaÜDg notes issued during the previous month, whereupon the Socretary of the Treasuryehall redeem and cancel a liko amount of three-per cent. certificates issued under the acts of March 2, 1867, and July 25, 1868, by giving Doliee to holders thereof that interest sball cease after tbe day designated in the notice, and that said certificates shall no longer be available as banking reserves. Upon the deposit of any gold interest bearing bonds in the treasury of the United States in the nianner preecribed in the nineleentb and twentieth sectious of the National Currency act, it shall be lawfül for the comptroller to issue to tlie bauk making the deposit circulating of different deuominations, not less than five dollars aud not exceeding in amount eighty per cent. of the par valuo of the bonds deposited, which Botes &hall be;ir upoo their face the promisc of the apsociaiion to which they are issued to pay upon presentation at the office of the aESüciation in gold coin of the United States and shall be reáeemable upon such presentation in such coin. The capital of any such banking aisociation is limited to 1,000,000.- Banks orgauizcd uodur the preecding uections are required to keep on hand, at all timea, not less than twenty iivo per ceut. of their circulation in coin, and shall receivo at par in payment ol dbts the. gold notes of cvery other sucb baak which is at the time redeeming its notes ia ootn. The limit of circulation to $300,000,000 in tho Currency act, end the requiremeiit Ihat banks in San Francisco must redeem notes at par in New York, aro removed. The term lawful money in the Currency act is upplicable to banks. Ttiose organized on a gold basis shall be construed to mean gold coin of the United States. - The bil! furiher provides for the withdrawal 'rom banking associations havspg a circulation exoeediug that contemp'ated in the act of March 3d, 1865, of 25,000,000. This e;-ou!ation is to be viÜulrawn, commenoing with banks bviug n circulation exceediiig Sl,O0ü,000 iu Slajes lmving an excess of circulation, and reduciug tho circulation of uch bauks having the greatest proporUon in fcxeess, leaving uudisturbed the banks in States haviug a emaller proportion.uulil ihose in grealer excess have leen reduced to the süjuo grade, and oontiuuiug thus to msike vcuuctioris pro■vided fur by this act until the full Biuount of $125,000,000, shall be withdrawc and the uirculation po withdrawn be difltribuled among States and Territories having loss thau their .ï portioo. Trovision is made, where banks [;iil to return the circulation re(juired withiu ouc year, for the sale of the;r bonds depohitcd witfa the treasurer of the United States fr tbeir circiilat'on. No circulation is to bo withdrawn until the 1500,000 grantcd in the first si i '.1 bj taken up. A bank looated in a Siale haviog inore than its prcporlion f circulation may remoro to a State haring Iets than its proportion.