Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1862-01-10

and report to the House, what retrenchment, il
any, can be made, without injury to the public
'servicein the expenditures for general and local
purposes in the State. g.5 1.a
On motion Of Mr.. Converse. the standing
committee on ReirenobmeHt was substituted
apd the re,oluliou was adopted.
The House took recess .a.,. .ssi4.a1 d.
h 30 rgr AFTERNOON SESSION. jG3IaA
The House resumed its session.
Mr Speaker inthe Chsr
Od motiou of Me- Wes u call Of the House
vas ordered - tQ ftt nft 4a''"
All Iurther proceedings uuder The call wer.
dspeI sad with
imp RrAnr FINANCIAL MEASURE.
70 H.B. No. - B, Me- Odliu fftm Standing
Committee on Cuneuc,, ou leave
To au hoiize he bauks temporarily 10 sus-
peIdf -pecie payment, and to receive and pay
vut United S@ies demand notes
Was Introduced and read the frt time, as
iolluWs:
WBEBEAs, The existing embarrassed cordi.
tioI OF the financial affairs of the country. con-
stquent upon the rebellion, the Suspension Of
specie pay mens by banks located at the marIs
OF cjmmerce, the large issue of demsnd notes at
lreeent rredeemable in coin by the government
OF the UOited States, presenting a state OF cur
rency unprecedented aud novel IN the history OF
thie country, the operation OF which will with
dIaw from the banks OF this State their b isis o
coiD, destructive TO the public inyeres', and
prob ably occlsi0ni'g u suspension and the for
ieitu!e Of the charter Of some of the banks of
tbis State, thereby producing irremediabe injury
20 the public generally, aud 20 the bsuktn: in
titntious of the State; hereforc,
Be IL fnactcd ty the G,ntraL Assembly ot the
State Of Oai: SEouoN |. That until otherwise
provided by las, all of the existing statutory
provisions nov iu force in ehis State, prescrib-
ing penalties, remedies and proceedings, tobe
had against banks of issue in this State, in
consequence Of their failure to pay and redeem
their notes OF circulation with coin, be and
they are hereby suspended and until other
wise provided as aforesaid, the suspension of
said banks, or any of them, to redeem their
notes of circulation with coin, shall not oper-
ate to divest the title and rights Of suY such
bank, to any of its rights, credits, property,
money, security or effects, or to transfer the
possession of the same out of slid bank or
bsnks, or work forfeiture of its charter. 81
SEC. 9. Until otherwise proved by law, it
shall be lawful for any of the banks OF this
State to receive and pay ont the notes Of cir
cuIation Of any of the solvent banks of this
State, although in state Of suspension as afore-
said. .s,
SEC 3. That 1t shall be lawful fer said
banks to receive and pay out as money, the de-
mand notes of the United States.
SEC. A. Any solvent banking institution of
this State availing itself of the provisions Of.
this suspendiDg act, shall, during Its continuance
in suspension under this act, if required by the
Treasurer of State, furnish him with sight ex-
change, payable in New York In coin, for its
own notes in the proportion thatthe circulation
of such bank bears to the circulation Of all the
solvent banks OF this State, at a rate not exceed
ing one half Of one per cent. premium, 10 the
extent required to pay the semi.aDnual lterest
on the present foreign debt of the state. .
SEC. S. The demand notes OF the United States
and the notes OF the solvent banks of this
State, shall be received by the several county
Tressurers Of this State in payment OF taxes
Mr.. Odlin moved, that the constitutional rule
and the rule Of the House be suspended, for the
bill to be read the second time now discus
sion ensued thereon.
Mr.. Odlin of Montgomery, and Mr. Dick
mau Of CuyahOga, explained and defended the
bill, aud argued that there was an imperious
necessity to pass the bill tonight, as brokers
were running upon the banks for coin
Mr.. -Flagg of Hamilton, claimed that the de-
mahd made by the Banks in this bill, was
conspiracy against the people and the Govern
ment-that the doctrine was pestilent heresy
that Banks ehould be allowed to pay out, as
specie, the demand notes of the Government;
that the Banks OF Ohio we're sound and able to
weather the storm. EfC@ @et.ff2sNl
Mr. Converse called for the yeas and nays on
suspension Of the rule. which resulted-yeas
81, nays 35 There not being three-fourths
vote, the rules we're not suspended.
The vote was as follows;
y Those who voted in ,the,afirmative, were =,
Messrs. Babcock, Bartram, Bates. Bayard,
'BrachmSn, Bradbury, Cook, Grouse, Dlckman,
Ferrell, Glessner. Griswold, Harrison, Harsh,
Hills, Howard, Howe, Johnston, Keck, Ken
non, Keyser of Noble, Lemen, Lind, Masters,
No ris. Odlin, Osborn, Patterson, Peirce, Pur-
sell, Randall, Reamy, Reilly, Roberts, Rock
well, Ross, Saylor, Schell, Scott, Sieg, Smith.
Stanton, Stewart, Silver, Tiffany. w Wallar,
Warner, West, Whitney, Wilkins, Woodbury.,
and Speaker. co ggis sffss NV
Those who voted in the negative, we're
! Messrs. Ault, Blocker Clark, Converse, Cory,
Crane, Dresel, Fee of Brown, Fee of Vipton,
Ferguson, Flagg, Gribben, High, Hixson, Hol
deu, HustoD, Jefries, Keyser Of Monroe, Krum,
Lott, Maffett, Marsh, Monroe, McGill. Reising-
er, Robb, Smythe, Snyder, Siers, Taylor,
Thorp, Uhl, Vance, and Wells. s5gq ah
le,d STATE HoUse SUPERINTENDENT. l1
Z Mr. Scott offered the following resolution
Resoiped, That the committee on Retrench-
ment be requested TO inquire into the necessity
OF continuiDgin In existence the office OF Estate
House Superintendent" and report to, this
House at their earliest convenience, by bill or
otherwise. sl.oa
Which was adopted
PRoPosED Address OF CHARLES ANDERSON, ESQ
Mr.. Flagg from select committee reported
that be had communicated the invitation of the
House 60 Charles Anderson, ESQ, who signifed
his readiness to address the General Assembly