Daily Richmond Whig & public advertiser. [volume] (Richmond, Va.) 1833-1840, 1838-04-11
OF THE UNITED STATE.
HOUSE OF REPRESENTATIVES.
MospAY. April 8, 1888.

ing az explanation in reference 10 the resolution
laid on the table by him on Saturday.
The resolution was a. follows:
Considering that the business, commerce, cir.
culaton, aud exchanges OF the country ATE in q
dersngrd and embarrassed condition: and
"ConsiderinR, Also. that part Of the banks OF
the United States have expressed a desire TO re
sumo specie payments At an early period:
"Resolved by the Senate and House OF Repre-
sentstives Of the United States Of America IN
Congress assembled, That il the banks, or q por.
ton Of them, do thus resume, u will be the duty
OF the General Government, within the limits OF
its constitutional authority, TO aid such banks as
the present Administration design TO do, in re-
gaining public confidence, and TO sustain them
IN their laudable efforts TO iulhi their obligations
to relieve the wants Of the community, and to
restore To the public sound circulating medi-
um"
Il seemed that the introduction Of the resolu-
ton produced some excitement in the House.
aud number OF gentlemen came 10 him to in.
quIrs the meaning, the true construction &c. and
among the rest q friend, in whose judy me ut he
had great confidence, suggested TO HIM, that if
the rsso button went out in the newspapers, with.
out any explanatory remarks from Mr. II. il
might be subject TO the inference that h. though
the present Administration really entertained
hostility towards these banks, who were about TO
resume specie payments, and that his object, in
| Offering the resolution, was TO compel them to
change their course. MIR II. replied, at once that
he enter aimed no such sentiment, aud thar, when
he got an opportunity 10 explain, he would show
what his meaning was. However, to avoid any
such construction OF conclusion, and kh, wiog
that the resolution did not go on the journals not
being in the possession Of the House. ANA entirely
his own, he considered he had Iigh to modify
II either before or after its being printed and he
accordingly Inserted the words, "as the present
Administration design TO do" as explanatory of
what was his own opinion. He did no, suppo>r,
| al that time, that he exercising a riyhi thai
did not belong TO himi yet, II he had dcne wrong
In making that Modification, he certainly asked
Inn NJ h.
ihuse words, was the resolution he intended TO
offer, and he should. in submitting il, strike cot
that modification, as il was merely inserted TEN
porariiy IN sel1-deieEce, and in explanation OF
his motives. Mi II. then asked the con semi of The
House TO submit at this time in that FORM
Mr. Peiriken objected.
Mr. Whiuesey, OF Ohio, hoped his colleague
would not press IL At this time, as he would have
an opportunity to do so before the day was over.
Mr. Wise hoped The gentleman would move a
suspension Of The rules. M w. had voted to
print the resolution, thought he would not have
supported it with the modification, but had no
doubt The gentleman had perfect right TO make
IT,
Mr. Hamer moved suspension Of the rules.
mr. Pennybacker asked for the yeas and nays,
which were ordered
On motion of Mr. McKennau, a call of the
House was aSsenied TO, and proceeded in until
one hundred and hfty six members had answered
10 iheir names, when, on motion of MIR Mallory,
1t was further dispensed with
mr Cambreleng inquired OF the Chair whether
the words as the present Administration design
70 40 mad been stricken from the resolution by
The moveI7
The Char replied that the gentleman had so
modihed u, but II was not yet before The House
MI PickenS was understood To remark that he
could perceive no practicable benefit Whatever 10
result from The adoption OF this resolution
The rules were no: suSpende d-yeas ITO, nays
81.
MIR Underwood then asked leave to Law on the
a la and -,
would submit 10 The resolution OF the gen ,leman
from Ohio, whea il should be taken ur for con-
sderalion.
Mr. PeIriken objected.
follow:
And for the purpose of afording such banks as
ought TO be assisted, that aid within the consitu-
| tional authority ofthe General Government
Be- II iurther resolved, That it shall be the
duty OF the collecting officers Of the Governmeut
| 10 receive in payment OF all sums due, whether
Tor lands, JuueS, or Tor, ign merchandise or any
other account whatever, the notes OF any specie
paying bank incorporated by any State in the
Union, whose capital actually paid in shall moi
De less than two millions OF dollars, and whose
notes IN circulation do not exceed more than
double the amount OF specie owned ard held by
the bank in its vaults.
| Resolved further, That il shall be the duiy OF
tue Secretary Of the Treasury to instruct The col.
| leciine aud receiving officers of the Government
| from time 10 lime, what bank notes are receiya.
Die under the preceding resolution. and the coll
.ee,Ing ana reeely.ng eiheers shall act in Pursu
Resolved, That II any bank fail or refuse 10
report its condition 10 the Secretary O; The Tea
| sufy, monihly, or at any time the Secretary shall
requires or II II shall appear that the directory OF
| any bank shall for more than a month at 3 nv
! one Time, permit the notes in circulation 10 . =
ceed more Than double the amount of .pec,e
Wllhout adopting prompt aud efficient mcsssre,
| 10 restore that ratio by Withdraw the e.resS
OF notes from circulation, 1t shall be the duIy OF
'ne secretary TO instruct The collecting and re.
celvIng officers thereafter to refuse the notes OIL
such banks when offered in payment.
Resolved further, That il shall be lawful for
the collecting and receiving officers OF The Go.
Vefhment 10 receive In payment the notes of such
specie paying hanks whose capitals actually pa i'd
Ia 90 not amount TO two millions OF dollars. as
'he secretary OF III. Treasury, 10 his discretion
may direct them TO receive; Provided however
Ihat The Secretary shall not authorize the re
| ceipt oil the notes OF any such bank, unless It's
specie Sha be kept up TO half the amount of its
notes IN circulation and unless It's officers renoTI
me condition OF the bank to the Secretary, as is
| herein before recuif.d ~
Resolved further, That the Secretary of the
treasury shall cause the public money To be de-
pnHiied Tor Ssie-keePing IN such state banks a.
| Shsh pay specie Tor their notes, and which shall
Keep up the proportion OF specie 10 the circuIa
non hefein before prescribed; and that the rsgu.
iauon shall continue until Congre. sin pursuance
OF IT'S Constitutional duty, and the will Of the ma
/ "i - LNa'lonal BANK, To act as the fiscal
agent Of the Government.
STATE REVENUE.
on motion OF Mr. Thompson of South Carroll
ia, ,ne IOIlowing resolution, submitted by him ON
ne i9ln of March, was taken nI:
hesolVed, That the Secretary Of the Treasury
oe directed 10 furnish this House with state
sept OF me amour! Ot revenue received 10 each
1ae OF IerriioTy during the year 1896; nd also
,ne unOuhi, as nearly n the same can be ascer-
'a'neo, ehpended during that year in each SAFE
OF territory; and also with a Stliement of tn
NhoIe oank capital Of the United States, deSip
where located. 30
mt L. modified it By striking ihsrefrom the
,,in ,elsiion TO the banking capital; and 50
"'T.rr,neui lne resolution was agreed TO.
The resolution OF Mr. Hopkins on the spbi.ct
=, u DIVoIce OF the Government and The Press,
was supported by Mr. Bond OF Ohio mill The
hout arrived tor the orders Of The day.
NAVAL SERVICE.
The House then resumed the consideration NJ
INC on making appropriations Tor the naval
service, for the year 1888"
me question pending was on The motion OF
mf Montgomery, TO recommit the bill TO the
COMMITTEE OF Ways and Means, with instruct.
IONS 10 make the sE'n for the Souih Sea E1pIor
ing expedition specific one.
This mo ion was discussed al some length by
Messfs Montgomery, Cambreleng, Wise, Adam
MALLORY, lngham, Hoffman, and Mercer
Mr. Bronson obtained the floor, and on his
motion the House adjourned.
THE GLOBE REBUKED.
l. O.. II