Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-10-12
Volt ME 1.
From our Evening Edition Of yesterday
Important from w Washington

Important from W ashins.
The Treasury note BILL authorsing an issue o Slo'
600 oO0 and Of government credits IA "o'es iio" GU
and upwards bearing interest at per cent is nora ta
The snsnended bonds extension bill is also passed.
These measures will aid materially in bringing conf
de,ce back The subtreasury system will also pass,
IA With ba, viii close the action of Congress.
For The reconstrucion of oar banking system, and
o,hor rnoospres we now the next legisa-
The following is from cur attentive correspondent;
rpro,o eur Correspondent Rothschid-No. XXXVLI
WASHINGTON, Oct 9, 1887.
SENATE Chamber The bill TO compel payment in adj
,nce on all letters by express mail taken up and
ordered a third reading Some senator's thought that
lie intention of the department to break up this
establishments and this adopted the readest
means effect it. without seeming 10 dsapprove OF the
scheme Mr.. Grundy confessed that the income would
he essened by the operation Of the law now proposed
bnt believed that the certainty the receipts would more
Than counerbaance the loss now sustained by dead let
, :.
The hill 10 fix the fees for the renewal of bonds
taken no Mr. CLAY amendmen t making II the duty OF
the Collector Of the Customs to grant the renewal on the
same terras charged for the original bond adopted
by vote of % TO l5 No suit is 10 be brought any
bond for twenty days after it becomes due. The bill
is 10 be engrossed for third reading. Mr. Tallmadge
went for Mr. Clay's amendment because IL was unjust
To make the merchants pay tor arenewal OF their bonds
the fees that accrued under the of Congress estab
fishing the Offices of district attorneys Tor bonds placed
in their hands for collection. He for leaving til
law untouched in that particular Mr. Grundy preferred
leaving the renewal OF bonds with the district attorney
Mr. Buchanan vindcaed all the attorneys from any dis
position to extort from the merchants His great aim
was TO have compensation allowed to those III other
states than Alabama and New York, and to reduce the
fees on those in the two ust mentioned for bring
ing suits He for giving 50 on all bonds under 5000
and 81 on all above that His proposition was lost
preerrng to act on this matter at the next ses
sion.
On motion Of Mr. Wright the bill No. s. entitled the
warehouse bill was called up Mr.. King of Alabama,
and Mr. Calhoun preferred postpenng the subject TILL
next session Mr. Clay showed pain that ntertered
with the compromise That act provided that the
system of credits in March 1888 should be preserved in
tact ill June S42, when thereafter tie customs should all
be collected in ready money. He was compelled to vote
against all parts Of the bill that disturbed this Mr.
Wright could how the compromise act was af
feced His bill proposed to increase the credits and
surely the friends OF the mercantile interest would not
object this Merchants under the warehouse
system could lei their goods remain in store for three
years. take them any time IN that perisd This
Yves a benefit merchants lie hoped that the disputes
on the compromise act to be revived. If gen
tlemen would carefully read the BILL he thought that all
apprehended difficulties would vanish
Mr. Clay proved by the admission of Mr.. Wright,
that the act question would be disturbed He had said
that the merchants would get thereby extension of
credit The compromise act said they should ENJOY the
system of credits prevailing III le33 He would not touch
that Jcne any class, much less to nlure any in
terest Ii the bill pass, merchant may import
800 900 worth of goods let them remain IN store and
whenever the market justified draw them out. Great
fluctuations would encue purpose create demand.
This would niure the manufacturers In hne he would
saw or do nothing touch the compromise act.
Mr. Calhoun having read the bill SAID that 50 lar as
the southern interest concerned, no difficulty need
he apprehended. With little modification the bill
woud suit his portion OF the country. He hoped twould
be found the views OF the other party to the
compromise. He had previously moved postponernent
of he matter to the regular session, but withdrew II ut
the suggestion Of Mr. Wright who agreed to let the sub
iec Law over till Mr.. Calhoun then went to
Mr. Claws seat and held long conversation with HIM
sf the south agree violate the compromise Mr. Clay
eaa he would be bound by it, new era will be be-
gun next session. If this j. given the go by Tue Sc
nate then into session and adjourned shortly
thereafter.
House of Representatives. The House at ten A.
NJ PRAYERS for the continuance Of political integrity
Petitions against the admission Of Texas into the Union
ct cetera occupied nearly hour That notorious taker
c. r Mercer from select committee, brought in amend
,nens to the rules viz Thathe hour, when motions to
adjourn made shall be entered on journal That
no member shall leave his seat after an adjournment Is
declared till the speaker shall leave his. Jesse Bynum
rose and spoke length the folly oil the propositions
About dozen speakers had something to say on the
subject The first carried and the second lost
After desutory business, the orders OF the day.
the Treasury note bill, were taken up The debate went
on vigorously upon the amendment of Mr. Underwood.
Mercer Gholson, Bell and Reed OF Massachusetts
the speakers till half past two, the hour OF recess
Il is utterly useless in my opinion to detail the opinions
Of these wise gentlemen. They consisted OF the old
thcsae did not hear the least scintla OF new idea
indeed Of any idea but what has been banded Tor
years past from Maine Louisiana, in every country
paper OF the Union.
IL ia now nine, p. Nj. must be brief
The Underwood amendment 10 sell the U. s. Bank
bonds failed by a vnte Of 100 to o.
A proposition was theu made to authorize direct
lean, bearing six per cent interest Lost l3l 10 20.
A motieu that notes should be issued, while there
were available funds in the Treasury, reserving one
million for contingencies, failed by 100 to l02.
Mr.. Southgate moved that the notes be $50. Mr..
Wise dofa as many cats as you cangive - notes.
Mr.. Southgate; l agree 10 S25 Lest So to 100.
The motion for SOS then prevailed, Ia 10 81
No notes are to be reissued, but to be cancelled
fast as they come into the Treasury.
Moved to make the issue millions-Lost 81 TO 1902
Moved to lower the interest to per cent--Lost l2G
togs.
The Speaker in hurry. Question on agreeing tn
the bill as amended. Carried 123 to 90
Question engrossment carried, 127 10 oe
The House adjourned