The tri-weekly standard. [volume] (Raleigh, N.C.) 1866-1868, 1866-03-27
Congressional Summary.


On Friday the Senate adjourned over until
Monday. On Saturday the House was en-
gagged exclusively in debate
On Friday, the 23d, in the Senate the case
of Mr.. Stockton was argued at length.
The question was then taken on the reso-
luton reported by the committee, declaring
Mr.. Stockton to be duly elected and entitled
to the seat, and resulted yeas 81, nays 90.
Before the vote was announced Mr.. Morrill,
(who had not voted) asked that his vote be
recorded in the negative.
Mr.. Stockton.-Mr President. hold in
hand telegram from nv colleague. IMr
Wright, in which he reiterates the statement
that he had paired off with Mr.. Morrill,. Be-
fore my colleague left the city he assured me
that he would not go if he had not made
this arrangement with the Senator from
Maine MIR. President, ask that my name
be called
The Clerk then called Mr.. Stockton's
name, and he recorded his vote in the affir-
mHtive.
Mr.. Morrill, said that he had requested Mr..
Stockton on Wednesday last to notify his
colleague Mr.. Wright of his intention to
vote on this subject, and as so much time
had elapsed he did not feel bound Changes
had occurred which constrained him to act
as he did.
Mr.. Nye said he was new member of the
Senate, and did not profess to be versed in
the rules, but he would ask of the chair
whether a person whose right to seat was
contested had the right to vote upon his case
The Chair said there was no rule on the
subject
Mr.. Sherman. 1t is part of the law of
nations that man shall not vote in his own
case.
The Chair then announced the passage of
the resolution by vote of % to 81.
The bill was passed as reported by the
committee with the amendments.
In the House, on Friday, the bill to reim-
burse the State of Pennsylvania for moneys
advanced for warpurposes passed-S6 to 80.
Mr.. Morrill,, of Vermont, from the Com
mittee of Ways and Means, reported the bill
to amend an act entitled "An act to provide
ways and means to support the Govern
ment,' approved March 3, 1865, DIETER
known as the Loan bill,) with amendments
The amended bill reported by the COM
mittee reads as follows fhe amendments pro-
posed by the committee being printed in
italics }
Be 1T enacted, &c. That the act entitled
An act to provide ways and means to sup
port the Government" approved March B,
1865, shall be extended and construed to au-
thorize the Secretary of the Treasury, at his
discretion, to receive any Treasury notes or
other obligations, issued under any act of
Congress, whether bearing interest or not, in
exchange for any description of bonds au-
thorized by the act to which this is an amend
ment and, also, to dispose of any descrip-
ton of bonds authorized by said act, either
in such manner and at such rates as he may
think advisable, for lawful money of the
United States or for any Treasury notes, Ger
tifcates of Indebtedness certificates of
deposit, or other representatives of value,
which have been or which may be issued I'M
der any of Congress, the proceeds thereof to
be used only for retiring Treasury notes or
other obligations issued under any act of
Congress; but nothing herein contained shall
be construed to authorize any increase of the
public debt: That Of the United States notes,
not more than ten millions mag be retired and
cancelled acithia sac months from the passage
Of this act, and thereafter not more than four
millions IN any one month. Ind 7orOoide1 fur
ther, That the act to which this is an amend
ment shall continue in full force in all its
provisions, except as modified by this act
SEC. 2. Ind be it further enacted, That the
Secretary Of the Treasury report to Congress,
at the commencement Of the merit session, the
amount Of exchanges made and the money Dor
roaoed urader this act and Of aohom and on
sohat terms, and the character Of tile indebted
ness retired under this act and the act to aohich
this is an amendment, aoih a detailed statement
Of the expenses Of naahing such loan or &C.
changes
Mr.. Morrill, read letter from the Secretary
Oh Vhe treasury, laForlnS IHe passage vi LlIe
bill in which he says:
"Iregard it matter of the greatest i'm
portance that the power of the Secretary
should not be strictly defined. If for ex-
ample, the Secretary should be prohibited
from selling bonds below par, it would be
easy, as the market, in the process of funding,
must be literally supplied for the enemies
of the Government to form successful COM
bination for keeping the bonds at such a
no of
them. On the other hand, if the authority
of the Secretary in this respect is not limited,
no such combinations would be likely to be
formed. In my opinion, the best way of
keeping the bonds at premium will be to
leave the Secretary unrestricted in the sale of
them. Against underlined power it would
be difficult to form successful combinations.
A limitation of the authority of the Secre-
tary in this respect would be very likely to
prevent funding. I do not, therefore, favor
such limitation, and regret to have the
committee responsible for it."