The New York herald., 1862-02-21
House OF Representatives.
WASHINGTON IN. Feb, 20, 1Sl

WASHINGTON, Feb. 20, 1852
THE TREASURY soTE BILL.
The House took up the report from tho Committee OF
| the Whole the Sonato's amendment to the United
| States Note BILL
| Mr.. Hooper, (rep.) Of Mass, briefly expressed his
views. He said tho object TO furnish substantial
en- Uniform currency, and he opposed the distinction
proposed DO mado in favor OF the holders OF stock
| By paying the interest in coin.
Mr.. STEVENS, (rep) OF Pa, said he had melancholy
forebodng that they were now about to consummate
cunningly devised scheme, which will carry great in
jury throughout the country. At tho instance
of the brokers, the Senate has be,n pcrsuad-
ed to msngle and destroy what had cost the
House months to digest, consider and pass The
bill has been dishgurcd that its very fathers fail
cognse it, Instead Of being beneficial and nvigoratng
measure, and adording uniform and equal currency for
all i. possesses positive and great mischief II now has
al the bad qua tiles which have been attributed to it,
without single benefit. In its amended form creates
classes of currcncy--onc for bankers and brokers'
aud another for ths people IL discrimnatcs between
different casscs Take away the legal tender clause and
the government will be in the clutches Of the harpies.
Assuming the public debt ut twelve hundred millions the
interest fixed for the bonds--namcy seven and three
tenths-woud require tho payment of cightyseven mil
lions annually in coin, according to the proposed amend
men He earnestly expressed himself in favor OF uni
form currency, doing equal justice 10 all parties
The interest could not be paid in coin without large
sacrifice of the bonds in the market.
The House proc ,cdcd to vote the Senates amend
meats, and disagreed to the fcliowing;-
Rcducng to u hundred millions the notes not bearing
Interest.
Providing that tho notes authorized by the act OF July
last shall be receivable in ment of oil taxes duties &c
Making the bonds rcdeemabc at the pleasure of tho
United after i've years and yabc twenty years
from date.
Requiring the Secretary to issue eqral amount Of
Treasury notes coupons, registered bonds, for the
authorized by this act when presented in of
less than hundred dollars, bearing interest
scvrn thrce-tenths por cent per annnm.
Also tho setting apart the proceeds of the sales
Of the public lands and tina, of rebel property to the pay
mem Of the interest and notes aud the re
demption OF the principal, &c.
Among the more important amendments agreed TO are
the following
The notes to bc receivable payment of all claims and
demands Of every kind except for the nterss. on the
bonds aud the notes, which shall be paid COIN The
vote on this was yeas So, nays55
Authorizing the Secretary to dispose OF the bonds
any time their market value for coin for any Of the
Treasury notes heretofore hereafter be issued or
for notes under this act.
Mr. HoorHR (rep) of Mass, after this votc said that
Jay the succeeding amendment the table, which, II
had been agreed to- would have rejected the entire BILL
The vote on the motion lay the table yeas q
nay 100.
The House then agreed 10 the Senates amendment
thozng the Secretary Of the Treasury to receive notes
deposit FOR not less than thirty days. in sums Of no.
less than hundred dollars certificates to he issued
therefor, nc.
This, however, was amended by the House to in.
cude deposits Of coin, and changing the interest to that
which the Secretary may from time 10 time prescribe,
not exceeding six per ccntuh
Tho bill again goes back TO the Senate, owing to tho
disagreement of the House to Of the amendments
DENVER CRY.
Mr. MAyvAgn, (Union) cf Tcna., from tho Committee
on WAYS and Means, reported bin establishing branch
| mint at Denver City CllIraio Territory.
s,np CANAL frnM IHr. MISSISSIPPI MICHIGAN.
Mr. BLAIR, (rep) Of Mo reported from the Military
Committee bin establishing shin canal Fl the Mis-.
sssppi river TO Lake Michigan for the cenveyan.c OF
| military stores and trcois.
| psBA1R on WAR.
Tho House then went into Committee of the Whole
| tho ust onics Appropriat cn bill.