The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-07-03
THIRTY.sEvENTH CONGRESS,
TRsT SESSION.


WASHINGTON. July ., 1862.
SAvY YARD AT NEW LONDON, CONN.,
Mr. FOSTER, ep) OF Conn presented resolutions from
the legislature Of Connecticut in favor OF the establish
mcnt OF . navy yard at New London, Conn. He spoke
briefly in favor OF the advantages OF New London
compared with the proposed site At League Island.
REQUIREMENT CONTRACTS
Mr. POWELL, (opp) ofKy., from the Judiciary Commit.
toe reported back the bill to punish persons giving or
oIsripg give consideration TO members Congress or
officers of the government, for procuring contracts,
Offices or place from the government.
EXPULSION or SENATOR si;' IONS.
Mr.. WRIGHT (Unon) Of Ind offered resolution stating
that By the report of ths Secretary War Of June ri
1902 II appeared that senator >. simmons, Of Rhode
Island, used hts orcal influence t. rocurs contract
from the government for one C. H. Schbcrh for which
it was agreed that he (Mr. sinmcns) should recevs
Resolved, That ihs Faid jam l. snmons be expelled
from his seat In the Senate
Tho resolution was aid ever
rcrTEs
Tho bill arpropraiiug $500 tho relief or Brgader
General Totten was token rp aud passed.
FINAL ApJounsNESr OF CONGRESS.
Mr. SHERMAN, (rep.) OF ohio, offered resolution sd-
ournng Congress the ish VI July Referred TO the
Mr SUMNER, (rcp) Of Mass, presented petition re-
monslra,ing asans the proposed change Of tariff on
THE GRADE or y.v,L OFFICERS
The bill TO establish the grade Of line officers in the
Tho bill provides FOR sdnirals aud commodores in ad-
alton to the present grades Thore shall not be more
than nine admrals aud eighteen commodoTes. Students
al ths Navs Academy 10 DO called mdshipmen tn
their hra examination, and if hey pass, ensIgns.
Mr SHERMAN, (rop) IT Ohio. madsa report from the
Conference Committee on the Indian Appropriation b
which was ags eed 70.
on motion OF Mr. HALE (rop.l OF " IL. tho Navy
Grade ball was amended 20 have students OF tho
Naval Academy called passed mdshipmsn instead OF
signs after their final examination.
After discussion Mr. SHERMAN moved 10 recommit the
bill to this Naval Committee with instructions 10 report
amendment regulating the pay OF tho navy Adopted
Tnr TREASURY NOTE
on motion Of Mr.. FgssESDKS, (repl Of Ne. tho bill
Authorizing additional issue Of Treasury notes
taken up.
The amendment of the COMMITTEES on Finance resorv.
ing 600 for prompt payment Of deposits, was
adopted.
Mr. FsssEspEy offered an Amendment for the commit.
tee authorizing notes issued under this act % be paid In
coin at the discretion OF the Secretary Of the Treasury
Adopted.
Mr. SHERMAN offered amendment that there shall be
pid annually by ovcry person or corporation issuing
notes bills for circulation money duty Of two per
cent on tho largest amount outstanding during tho
gcster part Of tho ycsr preceding. o said that tho
right t. ISSUE paper was as ct subject Of taxation as any
Mr LARK, (rsp) Of N H., said in hi, state the banks
did pay . lax Tor the p,ivc-o Of circulation.
NJ SHERMAN said IL thsy taxed by the State, they
certainly n subject for taxation by The general
government This franchise was worth g. 900 900 - tie
bnntru interest in the county But the principal OBJ
lee Il he amendment drive out OF circulation the
ocui sguing q paper money, which ovsrywhere he re
| rarded rs u government right There are now ,3ge
banks under tho most diverse systems and the loss by
counterfetng and bad notes o. various kinds amounts
noarlv the the interest, which IN W 100000
| such a system of bank ng not wise, but only
leads 70 confusion. Tho paper money ISSUED
by the United states was boarded up by thu
banks and tho basis OF tho issue of large amount
OF local paper money, 20 that the United states mr.,
obliged ~ sso this Local paper or else ssac more oil III
| own paper, only TO have The opes alton repeated.
Mr. FutLAMRR (rop.) Of VI, thought tho senator WA
mis- AIKEN In his financial policy lie did not believe OF
condition desperate upturn tho whole dnan0is
system OF tho country sanctidcd BY long usage. II
knew that The present CONFUSION in tbs coanr.destrcy
"a many OF tho banks, but the iko nss do no
| redeem Is because thy have taken a. ith rruo
states stocks nc they could carry ara When the 9l-
States rcf sed to redecn ihen tho banks 81 ,eut l
and now, by this amendment II propUseH uitcit, -
sToy the banks. D0ss any man suplos, 81 "a la
nsycr VII rotufn ~ specie reacmpft = -
!ao yesdy - edclt the presositlan Il. d,,eo ~. I