The Financial Problem

The Washington correspondent of the Chicago Tribune telegraphs as follows : The committee appointed by the Democratie caucus to devise eotne coinpromise financial measure, besides oonsidering the bilis and resolutions which have been introduced in the House and Senate, and which have also been referred ta it, has also been giving a hearing to several members of Congiess who desired to speak on the subject. One Kepresentative from New York, who had addressed the 'committee on Tucsday last, snbmitted a measure which it is hoped will be satiofactory, not only to the hard-money men of the East, and Texas, and the Pacific Coast, but which also will secure the support of Southern and Western ïnembers who are opposed to contraction, but who see the necessity of yielding some of their opinions in arranging a compromiso measure. This proposition contemplates the annual accuniulation in the United States Treasury of $30,000,000 in gold coin or bullion. At any time after the amount so accumulated shall havo reached $150,000,000, the Secretary of the Treasury may, at his discretion, and after due notice, begin the redemption of United States notes in coin, and it shall be obligatory upon him to do so when the amount of gold accumulated in the Treasury shall be $300,000,000., In order to próvido for securing the gold thus to be accumulated, the Secretary of tlie Treasury is direeted to discontinue the sale of gold received as revenue and to use all surplus revenues of the Treasury for the purchase if necessary. He is also temporarily relieved from the necessity of providing for the sinking fund to the extout of the amount of gold annually accumulated, mul, should there stil! be a defleieney, he may issue eitheráj or 5 per cent, boñds of the United States for the purpose of purchasing coin or bullion. If at any time, owing to the opcrations of this plan, the revenues of gold should be insufficient to meet the annual appropriations the Secretary of the Treasury is to be allowed to issue Treasury notes bearing interest at a rate not exceetiïng G per cent', to be redeemed at the end of one year, the total amount of such notes outstandiug at any one time not to exceed$3,000,000. By this plan the National Hanknare also forbidden to diepose of the gold received as interest on their boads ileposited in the Treasury of the United States, but may be allowed to lend a portion or the whole of it, to be repaid in gold, and to count any balance in their possession not so loaned as a part of the reserve which they are required by law to have. Tho bilí also provides for the repeal of tliat part of the Besumption act of last year which directa the Secretary of the Treasury to begin the redemption of tho outetanding greenback cireulation on the lst of Jan nar y, 18T9.