Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1866-04-07

ALUMINIUM, hpIu O.-OENATE.-Sr
Morgan presented the petition of thu New
York Savings Bank, asking for such a mod.
ification Of the revenue law as will exempt
the savings of the poor from taxation. The
petition was referred to the Committee on
Finance.
Several petitions fos equal and just laws
to regulate inter State insurance were pre-
sen.ed and referred to the Committee on
Commerce
Mr. Lane, OF Kansas, offered Joint reso-
luton for the admission of the States lately
in rebellion TO representation in Congress
on condition Ut. their regulating the rebel
debt, endorsing the national debt, annulling
all ordinances Of secession, and granting the
right of suffrage to such colored people as
can read, or who own and pay taxes on
$3.50 worth of property Mr.. Lane spoke of
the necessity for immediate action on the
subject of reconstruction, to save the repub-
lican party from crumbling to pieces The
resolution was ordered TO lie upon the table
for the present.
At one o'clock the message Of the Prcsi-
dent, returning the civil rights bill, was
taken M.
Mr.. Van Wrinkle, of West Virginia, re-
ported with amendments the bill supplement.
tarv To the several acts relating TO pensions.
AL uNuitU'iIul SttttOD VI VIC dCt vi July II,
1862, entities any one to the pension, at the
same time another section repeals the au
,lorization to detail clerks in the Pension
Office and empowers the Secretary of the
Interior to detail clerks Tor the purpose of
said section, TO secure the more eiicctual
execution of the pension law.
Mr.. FcSsenden introduced a bill to amend
the acts TO provide national currency by a
pledge of United States bonds, which was
referred to the Committee on Finance. Ii
amends section 81 so as to make it read as
follows: Aud be it further enacted, that
upon the transfer and delivery of bonds to
the Treasurer, as provided in the foregoing
section, the Association making the same
shall Ike entitled to receive from the Comp
trollcr OF Currency circulating notes Of diff
terent denominations in blank and ,gis.er
ed, ard couniersigned as herein fter proyil-
cd, equal IN amounts to ninety per cenipm
Il the current market value of the United
States bonds so transferred ard not deliver
ed, but not exceeding ninety per cenium of
The amount of said bonds at the par value
thereof; if bearing interest. at a rate not
less than five per centrm per annum, and
the amount of such circulating rates to be
furnished to such Association shall he in
proportion to lis paid up capital as follows
and no more.
To each Association whose capital exceeds
100000 but does not exceed 5000 900, 80 per
cent. of said capital; To each Association
whose capital exceeds 5000 900 but does not
exceed 81 100000 75per cent of said CAPT.
tai 20 such Association whose capital ex.
cceds one million and does not exceed two
million, 0per cent. of said capital to such
Association whose capital exceeds two nil
lions and does not exceed three million, 10
per cent. of said capital; to such Associa
ton whose capital exceeds three millions
40 per cent. OF said capital; and it shall be
the duty Of the Comptroller of Currency to
retire and withdraw from circulation ali
worn notes returned by any Association
whose circulating notes are in excess Of tho
limit herein prescribed, until the circulating
notes OF each Association shall be within
the rates prescribed for its capital. And any
existing bank or banking association organ
lied under the law of any State which shall
apply for authority 10 become a National
Bank under the act to which this section is
an amendment, before the LIST day of Octo-
her, 1866, and shall comply with all the re
qnirements of said act, shall, if The said
hank he found by the Comptroller of Cur
rency to be in good standing and credit. re-
eel We authority and become National Bank |
Prorid,d. That Banks of impaired capital |
in States which have heretofore seemed The |
least rateable amount of circulating notes |
under the provisions Of said act shall have |
preference in recognizing such authority.
Pt'ocidod turt.er, That the entire amount I
)f circulating notes IL be delivered to banks |
h,ls converted from Stale Banks to National
Associations may be organized in States and |
Territories which have heretofore incurred
he least Taieable proportion of circulating
lcfes under the provisions Of said act, pro
yiGeu the total amount Of circulating notes
o be delivered 10 associations so organized
hall not exceed &l5OO0,OOO, until after the
st day of October, 1865, when if any portion
# the s10,000,000 of circulating notes allo,.
q for the conversion of existing State Banks
hall remain uncirculated, The amount 80
shall be used for the organization
4 new associations under this section.
HoUsE.-Mr. Paine, of Wis, presented
adopted by the Chamber Of Com
leIce Of Milwaukee, in regard to the Bank.
upt Law, which was referred to select1
ommittee.
The regular order Of business being the
Ill of Committees for reports Of private
Azure, Messrs. Peckl,am, Harding, If XIV,
aylor, Lawrence, of Pa, StillwelI and Van
crnam, from the Comwittee Of Invalid
cnsions. made large number Of reports. :
hich were acted. upon as recommended by
le committee. One of them, o bill 10 grant !
pension of fourteen dollars per month to
70 widow Of Col. John Pickell, 18th N. Y.
ols., provided that in case Of the death orJ
arriage of the widow the pension should
vert - the children Of Col. Pickell This
ing new principle in Pension Bills, I'll
we rise to some debate.
Mr.. Washburn, Of Ills, moved to amend i'll
striking out that provision. The House, 9
'wevcr, rejected the amendment, and the Z
II was passed. I.
Other bills were reported and passed con :
ming similar provisions Il
At the termination Of the morning hours s.
Q House resumed consideration Of tile con-
ted election case Of Dodge against Brooks, y
I'M the Eighth Congressional Distinct of n
~ York. -o1.T ., ;,
Mr.. Brooks resumed his sfgument an nd. .
ionaI hours being granted him. ~