New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-07-03
XXXVIITH CONGRESS.
SENATE. .WAsnIseroS, July ?, 1862.
FIRST SESSION.

SENATE. WASHINGTON. JuIy :, ioo.'
Mr. FOSTER rep, c.. presented resolutions OF,
from the legislature of Connectea.' IN I'Vor u 5'
establishment of a Navy-Yard at New-London, o..
lie spoke briefly in favor OF the advantages 81 New
London a. compared with the proposed si,e ~
League Island.
Mr.. POWELL Dem. KY, from the judiciary
Committee reported back the bill to punis' persons
ewing or Offering TO give confederation 10 members
Of Congress- or officers of the Government, Tor pfo-
curing contracts office or place.
No. WRIGHT I'm. Ind offered resolution,
letting forth that by the report OF the Secretary OF
War of June Il, 1862 il appeared that Senator D.
F.. Simmons of Rhode Island used hi. oica, intlu-
ence To procure a contract from the Government Tor
one C., b. Shuberth, for which IL was agreed that
he (Simmons should receive sj00O0, &C. Therefore,
Re1ued That the said James r. Simmons DC expeeo nom
his .eat in .h- Senate.
The resolution was lad over.
The i'll appropriung $40 for the relief Of Big
Gen. Totten was taken up and passed.
Mr.. SHERMAN rep, o. offered resolution
adlourning Congress on the lith OF July. Referred
TO toe Finance Committee.
Nj. SUMNER (Rep., Mass presented petition
demonstrating against the proposed change OF tari
on Ras ia iron.
Tie bill TO esta lish the grade of line officers in
the navy was taken up. The bill provides Tor Ad-
mirals and Commodore, in addition to the prrsent
grades. There shall not be more than nine Admirils
and eixhteen COmmOiOres. Students al the Naval
Academy are to he called Midspmen ill their final
examination and, if they pa-s Ensigns.
Mr. SHERMAN Rep Ohio made report from
the Conference Cotlmittee on the Indian Appropr-
alton bill which was agreed to-
On 40 ion OF SIR. HALE rep, y. H. the Navy
Grade blll was amended 30 rs to have students Of
the Naval Academy called Passed nld'hipmen H.
stead of Ensign5 after their final examination.
After n discussion, Mr.. SHERMAN moved TO re-
commit the bill to the Naval Committee. with IL
strucious to report an amendment regulating tae
my ~ The NAVY. A1OD'ci.
On motion of Mr. FESSENDEN rep, Ne the
ill authorizing add tioual Issue OF Treasury NOES
was taken up.
serving ,OOO,OOO Tor prompt payment u deposl''
wls adopted
NJ. FESSENDEN offered On amendment for the
Conpntfee authorizing notes Issued under Ills act he
paid IL oon no tie discretion OF TAG Secretary OF the
Treasury. AdOp'cd.
VIZ. SHERMAN offered an amendment that there
shal We paid annually by every person or corpora
ZION ifsung notes or bills for circulation as money,
dutv OF tgso per cent on the largest amount oufsuld-
IN, duiug the greater part OF the year preceding.
lie said that the rgl, to issue payer money wac as
IL "A slbieet of taxation az any other properly.
Mr CLARK Rcp. y. H. sall IN h.s STATE the
banks did pay a TAX for the privilege Of circulation.
Mr. SHERMAN sud II they were taxed by me
St,ie they certainly were li' subject Tor TAX Anon
by the General Government. Tbs franchise Was
worth 100000 10 the banking interest in tn
e Was 70 drive oU' If circulation the local lssuog
of "a er money ~'ich everywhere be regarded rs
d. government ri9ht. There gre now $40 BANKS
under the most dNerse syHtsms. and tie loss 10y
couulerio.riug aud bad notes OF various KINDS
amounts nearly 10 tho same ~ the interest, VIII
E. 5000 600. Such syst m OF banking was hJ
va e. bdt only leafs 20 confusion The payer none.
Issued by the Uu.'ei States was boarded mp by me
uai.ks aud made Tie basis Of tie issue % lar g
.mouut Of local paVer-mOney 20 thai tie United
~ ,te, are obliged 10 take this local paper or else
ls,ue more OF Us own paper Only 10 heye he opera
Ion rel car d.
Nr. COILAMEB Rep. W. thought the Senator
was mistaken in his iiluucla policy lie did no, be-
II ge our CONDITION desperate ~ 20 up arm the
whole financial system o. the country, sane HE'D by
log usage lie knew thai The presen, cOuyulsion
IN the country destroyed many OF the banks but The
re- IN the banks DO nOt redeem Il because they rave
"a ken n much United States stocks ~ they could
ca.ry and when the United states refused 70 redeem,
then the bank stopped as0; and now by tits amend
1r. 10 IrOnossd utterly 70 destroy the banks. Does
INV man snppo-e this Government never will return
ro sp-ci. redemption l. the Senate really 10 adopt
hi, proposition 20 drive all local PAPER money on OF
rYisfcDce AMI have the Government Issue all paler
money which they never proposed 70 redeem. we
have raced Il law compelling the banks 20 receive
'nitei StAos paper instead oI Sold, aAd now pro-
lose 10 breaA tlom up because they DO NOT redeem
ttrir notes in gold. when by our Law, we refuse t.
let them have god.
SIR. SHERMAN replied, oOntending az some
length 4cr the superiority Of the United States paper
currency aud tla prop.iety " The passage OF me
proposed amendment.
Mr.. FESSENDEN thought this n very important
matter which be was not a. present prepared TO con-
side. as j. deserved, and he suggested tile withdraw
f. OF tho amendment.
Sir. DAVIS In. XVI was opposed TO The amend
mcnt and be blll ~ IuinDus policy, aud tending
.o make tue Government great money despOt. lie
. .lJ.ia vote against n.
Messrs. HOWE Rep, Wiz, and GRIMES Rep,
lovnl also sno.e nplins- the amendment.
On motion OF Mr. HALE n Committee Of Con-
ference was appointed Oh the Naval Appropriation
bill
Mr. Shcmans Amendment was thee rejected,
Yeas, iU; Nays, 81.
An amend lent was adopted Limiting the number
# small notes 10 2,oO10O).
Mr. CAkLiLE lln., Va offered an amendment
thar 10 note, o. IL denomination less than - be H.
sued. Rejected.
Mr. WILKINSON Rep, MIn.) offered an ameni-
men that slAll NOES Issued be of the same dehomi-
nation a. current good CON- Rejected.
The bill then pass-d as follows;
YEAS-Me,sIs. Anthony. Browning. ,hinder, tlark'
y ,on Trssrnden, Foot ie. Harris, btniefson ho"sd
mon. 9uin4,f Ten Eycs, Wade, WILLIAMSON Wiley "i'oh
'NAyS-de,,ra Garlic Colamsr Cowan Davis. Poster,
Ur4n aug Powell, sau.5Ify, sherman s.aiA TRANQUIL
NIistt-i3
Adjourned.
HOUSE OF REPRESENTATIVES,.
The SPEAKER land before the House Message
from the President. recommending a vote Of thanks