Congress appears determined to use its remaining time in facili-
tating a return to specie payments. The Senate, by 34 to 14, has passed a Finance Bill, fixing January 1, 1879, as the date for the resumption of specie payments, ordering the gradual -withdrawal of greenbacks till the total amount has been reduced to £60,000,000, directing a rapid issue of silver to replace frac- tional paper currency, and allowing free banking, it is supposed upon the President's plan. It is difficult to comment on such a measure until we see it more in detail, but the House of Repre- sentatives has already read the Bill twice, and it is believed that, although opposed by the Democrats, who in March 1875 will control the Representatives, it will pass. Once passed, the Senate and the President can forbid any alteration of the law until March, 1876.
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