Quasqueton guardian. (Quasqueton, Buchanan County, Iowa) 1856-1858, 1857-12-24

mlttee OF hve was appointed to examine
into the condition of the banking institu-
tons of the District of Columbia, and
the authority by which such corporations
assumed to transact the business of bank
ing also, as to what further Legislation
is necessary.
On motion Of Senator Seward, reso-
luton was adopted, calling on the Prcsi-
dent for copies of any correspondence
which may have taken place between the
the Department and the British and Span
ish governments on the subject of claims
for alleged damages by the bombardment
of Greytown.
On motion of Mr.. Trumbull, the ere.
dentials of Messrs. Bright and Fitch, to-
gether with the protest against their right
to hold seats, was referred to the Com
mittee on Judiciary.
Mr.. Wilson gave notice of his inten-
ton to introduce bill granting the cities
of Washington and Georgetown million
acres of public land for the support of
schools.
Mr.. Pugh introduced bill to improve
the navigation of the falls of the Ohio
River.
Mr.. Clay introduced bill to repeal
all laws allowing fish bounties.
Mr.. Hunter, from the committee on FL
nance. reported treasury note bill, and
asked its immediate consideration, and
caused to be read communication from
the Secretary of the Treasury, in which
it is stated that there is in the warehouse
in New York, merchandise to the amount
of twenty millions of dollars, on which
the duties to be paid would be more than
six millions.
There is now in the treasury, subject
to draft, less than six millions, and the
excess of expenditure is daily reducing
this amount +; therefore authority should
be Immediately given for the issue of 90
millions of treasury notes. Mr.. Hunter
said this bill correspondent with that of
l847, with the exception that there is no
provision for funding the debt, and an
other difference as to the mode of paying
the interest. The bill was read. 1t au-
thorized the President to cause sums to
be issued as the exigencies of the public
service may require, but not to exceed at
any time the amount of 90 millions, nor
to be of less denomination than five dol
lars. The notes to be paid and redeemed
at the treasury one year from the date of
such notes, until they shall be respect
lively redeemed; they shall bear such
rates of interest as shall be expressed in
said notes, which rates of interest, upon
the first issue, which shall not exceed six
millions, shall be fixed by Sec'y of Urea
sury, with the appreciation of the Presi-
dent but shall in no case exceed per
cent. per annum. The residue shall be
raised in whole or in part after public adj
vertisement of not less than 80 days, as
Sec'y of the Treasury may direct, by ex-
changing them at their par value for spe-
Gle to bidders, who shall agree to make
the exchange at lowest rates of interest,
not to evceed 6per cent. provided, that
after said note, the interest thereon shall
cease at the expiration of so days Of read
mess to pay and redeem the same, which
may be given at any time by the Sec'y
of Treasury. Pay on the redemption of
such note shall be made to the lawful
holders thereof, respectively upon pre-
sentation at the treasury, and shall in
clude the principal of each note and in
terest which may be due thereon.
| The faith of the United States is SOL
EMMY pledged for the redemption of the
notes, and no notes shall be hypothecated,
sold, or disposed of in any way, for any
purpose whatever, either directly or in
directly, for any sum less than the amount
of such notes, including principal and
interest. The notes shall be transferred
by an assignment endorsed by the person
to whose order the same shall be made
payable, accompanied by the delivery of
notice that they have been SO assigned.
The notes are to be received by the pro-
per officers in payment Of all debts and
taxes levied by the authority of the Uni
ted States, and on every such payment,
credit shall be given for the amount of
the principal and interest due on such.
The daA on which they shall be received
by such Office authority, is given to pur-
chase said notes at proper amount of
princi pal and interest at any time.
The remainder of the bill relates to
details, provides penalty for forgery, and
appropriates $4,000 to carry it into eff
| feet