The republic. [volume] (Washington [D.C.]) 1849-1853, 1853-01-15
HOUSE OF REPRESENTATIVES.

HOUSE OF REPRESENTATIVES. 70
On motion of Mr.. STEPHENS, of Georgia
there was call of the House, and one hundred and
nifty members answered to their names.
After preliminary business, the question wa:
taken on the passage of the bill sto prevent frauds
on the Treasury of the United States" and deci-
ded In the afhrmative-yeas l34, nays o.
The negative vote was as follows: Messrs. Bay.
~, busby, Chastain, Harper, Holiday, job son o.
Arkansas, Landry, Meacham, Meade, Millson
Mlner, Newton, Price, Stanton of Tennessee
stanton OF Kentucky, Stevens of Pennsylvania
sweetser, Tay or, Toombs Ward, WEIGH, White
OF Kentucky, and Wiiliams.l
Mr. GORMAN again made another Intellectual
effort to take up the Senate bill providing retired
HS1 Tor the army of the United States. "
EFFICIENCY IN FOREIGN AFFAIRS.
Mr.. MARSHALL of California, asked leave to
Introduce resolution, for the purpose of having
1t referred TO the Committee on Foreign Affairs,
Win leave to report when they may think proper.
But objection was made. .r-. :
The resolution is as follows;
RESOLVED, That sum of ten millions of dollars
be set apart, out of any funds in the treasury not
otnerwlse appropriated, and be placed at the dis
posal OF the President for the purpose of
him during the recess of Congress to meet such
exlgencles as may arise out of the momentous sub
eGs connected with the present of the foreign
relations OF this country with the other powers oil
tne earth, SO liable account of their character
ana completely to present themselves from hour
to hour tor practical and immediate consideration
SUPPRESSION SMALL sorEs.
The House resolved itself into Committee of
the y" hole on the state Of the Union-Mr. SEY
MoUR, OF Connecticut, in the chair-and resumed
the consideration of the bill for the suppression of
small notes as a currency in the District of Co
lumbia
MIR. DEAN desired to recommit the bill, with in
strucnons TO report one to authorize free banking
IN this District, the note holders to be secured by
United States stock. Such system, he said, was
In operation in the State of New York, and there
was no probability OF loss by the community ifthe
r Oh mt r,rnr rIx1
Mr.. FlCKLlN, the chairman OF the Committee
Tor the District Of Columbia said that the charters
OF the old banks expired. in July, 1874; and not
having been renewed, they are now acting in the
capacity of private associations, the individuals
composing them being liable for any debts con-
tracted. Those bankers, having taken legal ad-
vice, are issuing notes Of five dollars and upwards
unoer the law giving them time TO wind up their
AFFAIRS Such iseues not prohibited; but not so
with notes below five dollars, which are expressly
prohlblted ~ law. This bill is designed to remedy
evil and make the law effective and take hold
u ana punish the offenders against it. He opposed
pending amendment prohibiting the circulation
OF all paper, aud said that no State has vet been
able TO drive out that description of currency.
MIR. BOWIE, during the debate said that on a
former OCCASION he did injustice to the trade of the
District. He at that time remarked that one hun
dred and fifty thousand barrels of flour were an :
nualiy imported into Georgetown but by the re-
port OF the Inspectors il appeared that the number
OF barrels was three hundred and fifty thousand
He was authorized to say that of the old banks
made collections on the Northern States to the
amount OF i've millions of dollars annually; so
that, at the same rate the four banks collect TWEEN
~ millions a year; and this, in part, showed the
trade of this District. The gentleman from Ohio
(Mr. CARTTER) was mistaken in saying that th e
wealth of the District depended upon the Govern
ment. On the contrary, there is great deal OF
substantial wealth not connected With the Govern
ment.
The general debate having now closed, the first
amendment Mr.. CARTTER's) in order was read
in effect to prohibit the circulation of notes OF any
denomination whatever in the District of Co
lumba.
MIR. JOHNSON, Of Arkansas, thought that the
House would not act wisely in adopting the amend
ment II proposed to prohibit 'he circulation oil
hVe dollar notes, and upwards; in which event the
notes Of Virginia and Maryland, and every neigh
boring State, would be thrown into this District
thus defeating the object Of the gentleman, which
was 70 establish purely gold and silver currency
linen II the gentleman failed in this object what
next! To drive US back to banking institutions
for the relief of the commercial community. He
would not be responsible for depressing the people
OF tbls District. He was in favor of recharterine
,ns oio oanAs' which, during the panic, were the
last to suspend and the first TO return to specie pa
ments.
Mr.. CARTIER replied, saying that it would b.
better to have in this District the notes of the ad
joining States than that the present system sbal
continue. Those banks have some responsibility,
to their legal creators, and TO the business commu
mites in which they located. They have {
guardianship which furnish some guarantee o
here with regard to banks which pursue their bu
siness operations under higher law
Mr. TAYLOR wished to say, while his frien,
and colleague (Mr. CARTrER) looked to the ad
joining States as more responsible source 70
bank notes, that he thought il was imperative up
on Congress, as the only legislators for the Die
trlct. to look to every interest of the District, AM
provide remedy for the existing evil. He ha
no objection to the suppression of '.shinpasters,
as they were called; but, if the amendment Of hi
colleague should be adopted. blow would b
bur a a. me circulating medium which Congress
mas tolerated Tor eight years. Congress shout
give 70 the District proper system Of banking
and, he said, should an opportunity be presented
he would otter as substitute the bill pending be
lore the Senate looking to this object, and whic
had been matured after great dehberatioD.
MIR. MEADE said the effect of the passa ge Of tn
bill would be to recognise the Legality Of the bank
IN this District issuing notes of The denominatio,
OF i've dollars and upwards. These banka : I
without control; and however properly they hay
acted heretofore, there is no security for the Il,
lure. Let proper bill be framed to guard tn
community. :
Mr. Mem said that this District alon
eaa not suffered from the evil of small notes, By