New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-02-12
lxxxv1xsA CorGRKss-TAird ses'i'a.


SENATE. :. .WAsHIsGroS. Feb II, icH';
M. GRIMES iRep., Iowa, from tns ,o'nunssts
on Naval Aifsira reported rosOlncnsc conn.,
the sailors OF tho guntoat Cairo for 'os' VI 'i''s
pssset. -
PROTEST. AGAINST ENLARGEMENT OF NEW
..-I YORK AND ILLINOIS CANALS.
Mr. SHERMAN Rep s.a,e ~ nn,o r ~rO
sss,; .,a;n.t The prolcsed enlargement Of the ca.
so mas OF II inois and New-Ieik.
.nvrpsp REPORT UPON A TELEGRAPH TO NEW
S. r. - - ORLEANS. fs.lI t..f 4
Mr.. WILSON, rep, Muss.), from the COMMITTEES
on Military Affairs, reported adversely on the bill
for the coma ructioD OF marine cattle. T
MILITARY AND POST ROAD FROM WASHINGTON
I'D ''''N TO NETWORK.
Mr.. WILSON Of Mass also, from tho same Com
ittee asked that IL be discharged from the further
consideration Of the bill for he contraction Of
military and postal road from Washington to New
!, 1oik 49,. .t d. ...
= AGAINST AMENDING FUGITIVE SLAVE BILL.
ga Mr.. TEN EYCK IRer., n. J.|, from the Commit:
tee on the Judiciary, reported adversely on the bill
~ amend tie Fugitive Slave act.
b. Mir. TRUMBuLL tliep., lll.b from the same
q. Comut.oe, reported back tho bill to allow the
United States TO prosecute appeals aud write OF
error without giving security. Passed.
10 I, Mr.. WILKINSON tRep.. Mimi called up the
bill for the removal Of the Winnsbago Indian, from
Minnesota. Passed. .. a ..
e. Mr. WILSON (Rep., Mass, called up the bill to
increase the number OF Major ana Brgadier-Gen-
serals Ia the volunteer service. 1t provides for an
increa,e Of 80 Major-GeneraIs and l70 Brigsdier-
Generals, making the whole number 10 MRJor-Gen-
erals ana 27O Brigadier Generals o.
Mr.. GRIMES rep, Iowa. was opposed TO the
bill and asked for the Yea. and Nays on its passage.
Mr.. CARLILE I'm, tfa.) wanted to know how
4 many OF these generals were not on duty. he
thought that this increase would add greatly TO the
xleases Of the Governaens
: Mr.. WILSON rep, Muss said many generals
had been appointed when the new forces were raised
He did not Ceieve that many were needed, and
the number, or else nominations of new generals
would be sent to the Senate every day.
Mr.. GRIMES said there wss more objection to
the quality Of tie generals than to the quantity.
Many Of our generals ought TO be removed, and
better men put in their places.
Az the expiration OF the morning hour, the Chair
called up the spe al ordsr viz: the bill 70 aid the
State OF Missouri Emancipation. But the unfin-
ishsd business of yesterday, the currency BILL being
however, frat iu Ordef WIS taken up.
An amendment offered by Mr.. HARRIS (Rep., n.
~ ~as adopted, providing that. If any bank. or
banklng association engaged in baking shall be a
holder Of United States bonds to the amount of 50
per cent of its capital stock It may transfer and
deliver to the United States Treasurer such bonds,
or part thereof in the hummer provided by this act
and will DO enled to receive circulating notes equal
to 80 per cent OF the bonds 60 transferred and dev-
cred.
M. COLLAMER (Rep, W. said this bill could
-
thing proposed now was brought forward az great
measure, or az someftiug TO save the Union. The
bill could have efect for some two or three years
and be supposed tibet tins war was to come TO an end
distant period; ne thought 1t would be OF shot
duration. Bot this bill was put forward Ms a great
uscisl measure, and ito general object and aim
20 withdraw local bank cireulstion eli over
chs country, aud establish in the place there
Of Ereat national currency. and unless
The object was attained the bill would fail.
But what would be the effect Of such u measure,
and in New England especially. and in most of the
Middle and Western STAKES The business and al
the interests Of ihe peoplo were intimately connected
and bound up with these local banks, and winding
up ali these banks would create such state Of dis
trees and financial confusion could not be de
esribcd. And it might DO well to Inquire If We had
the power 70 extinguish all these bsnks--even in
theso times whsD II is slnost deemed hereticsl 20
question the extent OF power. There are many
powers which belong to the Stsle, which sre en-.
trey indepel dent OF the OF Congress, such
che right OF State taxation certain State laws &c.
lle Supr, me Court decided, Ill case In ryland,
that the United States might establish bank with
case in Keutccky. the Court decided that local
banks were constitutional, aud State had perfect
right TO authorize them. That right must certainly be
iDdegeDde1t Of the General Government and State
could not TAX United States restitution out Of
exis;eacs, then the General Government could not
tax state institution gu, OF existence. Tbey might
o. we'll dsrtake to tax the schools and college, Of
New Engl 80 heavily as to compel them TO c.oSc.
Sta es becoming rcspoitible for toe redemption of
these bills. Toe United States at one time estsb-
isLed bank with capital Of tbiry -ive millions
anu that bank was only closed becau.e il WAS re-
garded dangerous political engine, which could
BIZ used by party In wer. Bat this bill proposed
to establish bank with capital OF three
hundred millions, and 70 allow the Secretary Of the
Treasury 10 establish three thousand banks through
cut the country, mostly under ms control. Now, II
the old United States Bank furnished well grounded
approximations Of being used as a dangerous politi
cal engine, what could be said OF the present
schone II the Secretary OF the 1reasury shond
be furnished with ali this power aud should choose
TO nse it, be would be most bnngling politician il
be could II y IN kv himself President any day. In
Q time o. nation was expected to pay
all It's expenses as IL went along. II it
paid the interest ATS debt, that all
that was ever expected; ard that we were now
doing aud could to do. He did not see how
she proposed plan any better than the plan we
were now pursuing Of issuing paper which clrcn-
late6 among the people, But instead of Issuing the
anounl we needed, which would 20 ont among the
peopls wi bout any cost 10 the Government to place
IL in ciccula ion, 1t WAS proposed TO establish all
these banks, and pay them twelve millions per an
mum for circulating these notes. That wsR:h plain
English Of the scheme. Ia regard 10 the claim that
ills bill wa; 10 establish uniform currency, he con-
tended that il was as impossible 10 make uniform
cur eacy by law 10 regulate the circulation Of blood
o. former times, when great statesmen undertook
to establish paper currency they never thought Of
putting it upon any other ground than that Of being
redeemsble ia specie. The only bss,s upon which
they pretended TO Issue paper money was IRON its
immediate relation to that which the wOfli regarded
az u permanent value. When tho Uni.e1 States
Bank established 1t was proposed TO e1tinguish
Afafs hail fh..ra ~ IN