Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1838-07-12

A BILL to modify the last clause ol
the 9th section of the dcposite act ol
the 23d June, 1886, and for other pur-
poses.
BE Il enacted, &c. That the last clause
Of the 9th section OF the act entitled
an act to regulate the deposites of
the public money, approved 23d June,
1896, declaring that the notes or bills
Of no bana shall be received in payment
of any debt due to the Uuited States,
which shall after the 18th Of July, 1886
issue any note or bill Of less denomi-
nation than five dollars, shall be, and
the same is hereby modified, so that the
interdiction as to the reception Of the
bills and notes shall not continue against
any bank, which has, since the said 9TH
day of July, 1896, issued bills or notes
of less denomination than five dollars,
or which shall. issue any such bills OF
notes prior to the first day Of October,
1888 but that from and after the said
aforementioned day the bills or notes OF
no banks shall be received in payment
of any debt due to the United States,
which bank shall after that date issue,
receive, or pay out any bill or note Of a
denomination less than five dollars.
SEC 2. .a,.d be II further enacted, that
the first twelve sections Of the act enti-
tied san act to regulate the dcposites
of the public money" approved 23d
June, 1896, be and the same are here
by repealed, except so far as is above
provided, and to enable the Treasury
Department to collect any debts which
may be due or owing from the late do
posite banks.
Ii was the Cd or last section of the
foregoing bill, repeating all the recent
enactments Of Congress for the safe
keeping and custody of the public mo-
ney, and pAtting things back, so far us
the President was concerned, to almost
the same situation as when Gen. Jack
son seized with strong hand on the
public dcposites which was so triumph
antly vetoed and annihilatcd by the
House by majority of nineteen. -
Various attempts were then made by
Messrs. Curtis, Tillinghast, and others,
to modify and improve the first section
Of the bill by repeating the 9th section
of the deposite act, instead Of Suspend
ing Il merely until October and to add to
the bill new section suspending until
further order of Congress, the absurd
prohibition Of the law Of April l4th,
1888, against the reception and pay
mcnt by Government Of notes under
twenty dollars. But all these and sim
liar attempts, owing to the impaticnce
Of the House and the latcness Of the
session, were unfortunately cut of by
the previous question. The bill, there
fore, consisting Of tho LIST section only,
passed in its original shape, as to that
section; but instead Of being a sub
Treasury scheme in disguise, as its
friends inteudcd, is nothing more than
a very lame attempt to get by, for a
brief space the very serious cmbarrass-
mcnts growing out of the prohibitions
Of the 9Th section Of the Opposite act,
as to the notes of banks, which have
Issued bills under five dollars since Ju-
". 1886. Our readers are aware, that
the Senate afterwards concurred with
the House, in striking out the obnoxious
I'd section-thc loco-focos voting al
most in body against concurring
though Mr.. Wright, as having intro
duced the bill, had the dcccncy not to
do it.