New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-04-01
NETWORK DAILY TRIBUNE FRIDAY, APRIL L. 1854 y

rareous He wished that everybody would read Gov.
Parkers proclamation. II the Governor lad only con-
salted Calhoun he would have found his State rights
doctrine much plainly stated and in better En-
gsh. In conclusion, he expressed the hope that the
| House would sluelch the monopoly.
| THE NATIONAL BANK BILL
Tire subject was passed over and the House went into
Committee on the National Bank bill.
Mr.. STEVENS (Un.. Pa offered substitute for the
3Oth section with viewto restore the per centnm in
terest on loans, discounts &c.. the Committee having
yesterday reduced it to six providing i shall not be
greater than the rate established by Law IN States
| where such institutions shall be located.
Mr. STEVENS said if the banks chose 10 charge below
PEP eenum they cou do it, and there was nothing IN
! the law which compelled men TO deal with them. lie
wOlld regard the vote on this amendment as test
question Affecting the passage Of the bill.
| Mr. BLAINE Un, Me- In reply, said the banks could
take iess than the legal without the authority OF
this bill The Of this scheme depended on dry-
Ing the banks OF the States out OF existence lie pro
posed compromise providing the interest shah Be at
the rate established by low in the State where such rs.
sOcatiOn is located not TO exceed seven per cent lie
spoke Tor section Of the country For twenty years
the New Eng gland States had charged six per cehtu'
and there had been such plethora OF money as
there was today seeking investment. If seven per
centum should BE- adopted il would add oneslxth more
shan before paid falling ON mechanics ana men
MIR. HOLMAN Dem. Ind) said the common judgment
Of the country was against higher rate OF interest tan
six per centdm. seven per ccntua was h'slcf '''a'
| elsewhere On the face OF civilized earth.
| Mr. XtssoE Un.. Iowa. advocated Mr.. Steyens's
amendment The law now proposed should not be oh,
sructed by state egslaion The acton hefe proposed
~ the interest was justified under tho constitutional
clause that Internal State shall be under the
control Of Congress
M UIesy I'm, CALI was in favor Of an amendment,
that the rate interest shall not exceed the rate cstab
i,bed bythe law of the State in which the bank Is es
tabshe and argued that the question OF interest dd
NOT ssect the uniformity Of the currency.
M. PIKE CUn., Me.) said they were seeking to tax
labor not in behalf OF the Government but for the ben
! Mr.. ALLEY I'm Mass) dill not believe in tnkerins
the bill as IL had come from the able intelligent careful
and wise Committee on Ways and Means Bnt Dy way
Of compromise he offered a amendment providing that
any St1te shall the right TO reduce the rate oil n-
teIest below per centuIn as applied 10 an! INSTITUTION
under this act, within It's limits and providing iufher
that the rate OF est established shall not Do less
than the legal rate of interest in said state.
Mr.. ALLEYS amendment together with the other
was rejected -
Mr. Sisv;ss appealed 10 the Committee of the Whole
TO take the question its substitute and determine
whether tie Interest should be uniform or not and not
attempt, 10 the proportions 81 tnc Oil ana chhbc
from The purpose il was intended " accomplish.
Mr. DRSGs (Un, Aiioh) expressed bis views IN favor
of the interest being regulated by state law.
| Mr. PIKE (Un., Malne) said that the country could
not have a more uniform currency than "groenbaeksi
but this bill proposed 20 drive them out Of cicu alton
by the substitution Of SJO0CO0vg) OF notes Issued BY the
| banks.
MIR. COLI Urn. CALI remarked that there no rea-
son wig the States should not have conuuiu the inter
est. The notes be made uniform by the persons cs-
MI. MiiITR GJn'. \. " opposed the regulation OF
the interest by The SGs Il should be lett to Congress
in order to have stable aud Uniform system OF bark
! The question was then taken on AR. Stovonss suhs
! tuta which was agreed ~
The substitute. In ohect, restores the original Goth
section which provides that every association may
ccve charge or retain any loan or discount made
or upon any note bill Of exchange other evidence Of
debt interest ~ the rate OF seven per centgn per an
mum. The knowingly taking. receiving or charging a
greater rate Of interest to be held and adudged as
forfeiture OF the entire interest Those paying II may
back in action OF debt twice the amount OF
| interest thus paid.
Tho section designating the places Of redemption
al cndcd 10 include & Louis, Louisville Chicago,
New Orleans Cincinnati baltimore, PhiladGptda B3s'
ton. NeN.NoIk, san Francisco, Detroit, Pnuburgh,
| Albany, Cleveland and Milwaukee
Mr. BIAISK Qln Maine) moved 10 add Portland and
hir FRANK IN, y. - moved 70 ada buffalo
/ Both amendments were agreed 70.
Mr.. WILSON On. Iowa) moved 10 make Sew' York
the only place Of redemption.
Mossrs. HoorER and STEVENS opposed the motion.
4 Mr.. Brooks Dem. N y regarded this as a bush
ness Ike and practical proposition, New. ork being
the only monetary center and the only place where =
uniform ircucy can be obtained.
| Mcssrs. ALLEY Mass and RANDALL (Pa) opposed
the amendment. The latter viewed II attempt to
strike down the financial interests Of other cities, in
Guiding Philadelphia. He hoped the House would give
NJ WHO'S defended his amendment, showing lie
i financial advantages ~ Toe West.
| Mr.. STEVENS moved a substitute from AR. Wilson's
que udmcn that the notes 4 each National Association
shall be received by every other National Association at
par. lie opposed ~ cenrazing the redemption IN
q single city.
| Mr. MoEmLL OJn.. VT. said If Mr.. stevenss amend.
l1ent was adopted there end OF 'bc and
| ne hopcd when the House came tb. amend.
ncu's the Committee have adopted they WonId REJECT
| the little villages added a. places u redemption.
Mr.. Stevens amendment was elected ~ against -.
| The amendment OF Mr. Wik0n, making New York
the only place Of redemption. further discussed
| Mr.. DAVIS OF New-Y York speaking in favor and Mr..
BLOW Of Missour against n.
| Mr.. WILSON (Uu Iowa repeated that his object was
20 lower rate OF exchange and uniform sysem
| Of currency.
Aner further debate Mr.. Wilson's amendment was
rejected. % against o.
| Nj EIDRIDGE Mem, Wis., moved an amendment
proposing that the notes b. redeemed in gold He
knew this out Of fashion but he desired some u the
gentlemen the other side 10 inform Lin! when the
! notes were to be redeemed and IN what article.
| Nj SHANNON (Un., Cal would answer the gentleman
when he world tel him when he (Mr Edrdge) aud bis
friends would their croaking and Efforts to under
mine Uc confidence ~ the people IN their Government
thereby aiding and comforting jeff Davis and further
If the gentleman woud tell tins House when be and his
friends would help close he war. The Pacific coast
WoUld be materially 10 pay the geld.
| MI. ELDRIDGE said he and his friends would give
their aid and sympathy Ia the other side Wlen those Ia
power would give them the old currency Of their faith
ers7Gonld restore the Consultation which they had
wTeied ewayand when they would unite IN the resto
| ration Of the Onion.
! No further action wu~fatcn on tho bhl
| The Committee lose. and Ut ) o'clock the House adj
k4nrned.
TIE CAMDEN AND A5BOY MO-
| rnDAHV