The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-06-07
HOUSE OF REPREsENTATIvEA
WA Hsoros, June 9, 1865

PUBLIC MONEY
Mr.. HoorgR, (repj OF Mass, from the Committee on
thanking and Currency, reported back with amendments
bill 70 regulate aad the safe keeping OF public
money intrusted 70 disbursing officers Of the United
States
The amendments agreed 10, and also an amend.
ment offered by Mr. WILSON, of Iowa
Mr. BOUTWELL, rep, Of Mass called attention to the
necessity OF such change In the national banking sys
tenn ~ will prevent collectors OF internal revenue from
deposting money In the national banks instead OF send
ipg u 70 the Treasury at once. The government was
now paying interest on large sums deposited In tho
tona banks for no purpose whatever except to mu
Lac speculation and endanger public and private crei
Mr hoorER stated that the committee had that subject
under CONSIDERATION and would report amendment
the National Banking at which would remedy the din
Mr.. boutwell, expressed himself satisfied with that
assurance and instanced the OF collector who
naa deposits IN I'VE nat ona banks on which the banks
we're receiving interest while the government pay
shts whole business ended
ml hASDAL. Clem Of "a, expressed his fun concur
renee In the views OF Mr. BoHtweIl The Treasury
the only place in which public money should be depos-
tied The present system only tended to ncite specula
ton and 10 produce arrangement of trade That system
was this The national banks go into the market and,
with the money Of the on deposit with them
buy up tho due Bills OF the government drawing six DC,
cent interest 80 nefarious system could not last
Mr. FARSswoRru, trep) Of ILL.,, mentioned a crcum.
stance which had come to his knowledge where dis
oursing officer in the city OF New York drew his check
lars, deposited the amount In bank which thereupon
turned right around and lent II TO the government
10. The public funds should be deposited in Sub Trca
surcs and transferred 10 the Treasury where the money
could be used as needed instead OF being by banks
for speculation.
INF HooYsR explained that the object OF the present
Oil was merely to rex nlae the safe keeping Of public
money intrusted to discussing officers The committee
would soon report bill to amend the National Banking
law and this discussion would apply to i. He thought
however, that there some purposes for which il
az
Tue bill was then passed.
oNvoaA RATE or rSrERsSr To cHARoED M NATIONAL
RANKS
Mr. DxLAso, (rep) OF Ohio, offered resolution which
vas adopted instructng the Committee Banking and
currency 70 inquire into the proprey and ncessy OF
amending the law under which national banks are organ
lied SO that the rate OF interest charged By banks
citation attempting 10 charge than the legal rate OF
interest such penalty may be deemed proper for
purp0S9 n enforcing compliance with the legal
NAVAL STATION TuE NORTHWESTERN Lakes
MI BRAxDEGEE (repl OF Conn, from the Committee
On Naval Affairs reported back bill 70 authorize tho
President. In case OF public exigencies 70 establish
naval station At Cleveland, Ohio other point
on the northwestern akes which recommitted and
gHx COURTS WARRINGTON rHRRroRr.
Mr.. Wnsos rep) OF Iowa. from the Judiciary Com.
Washington Tcrpkory, which was read the third time
omrsIstros o, STATE rAuzRs AMONG coLIssr uBRARrss
Mr.. HAYES trep.l Of Ohio from the COMMITTEES tho
Library, reported joint resolution 10 authorize the dis
buticn Of surplus copies OF the American State papers
directs die Secretary distribute -four hundred copies
sscond DEeries tseventeen volurnesl, follows-To
zach Senator and member one set, and 10 such public
college Srares may be designated by the Joint Com
mtse on the Library SET II read three times
and passed.
sra FOR NAVAL vrxxls.
The House hen proceeded N the consideration or the
OIL reported the I'd OF April by Mr. Kelley, from
the Committee Naval Affairs to authorize the Sec
feary OF the Navy 70 accept League lsand In the Des
ware river for naval purposes.
MT KELLEY. lrep OF Ia, addressed the House in I'd.
vocacy OF the bill
without disposing OF the bill the House passed from
5ts consideration.
ooxTmoxsr xxrxssEs OF TIN Hor-x
Mr.. RAYMOND, trepi Of n. r.. from the Committee on
Appropriations reported bill making appropriations 10
supply deficiencies for contingent Of the House
shrse times and passed Il approprates for miscellaneous
itemz $4,000. for folding documents eli 500 for fur
allure aud repairs, and pack boxes for members,
$40. 900; for stationery, $4,000
APPROPRIATION srrE.
Mr. RAvnoxs. from the same committee also reported
enable the President to negotiate treaties with certain
Indian tribes.
Mr. RuRLEGH, the delegate from Dakota, objected TO
abe third reading OF the BIT
The SPEAKER stated that tho objection was which
could not recognize.
Mr. BuaLnGH inquired OF the Speaker what be was
sent here for,
me- spw,xyv replied thai be sent here a. q dele.
gate from the Territory az Dakota TO discuss matters In
the House, but nos 10 vote.
RECONSTRUCTION COMMITTEE
without .dsposing " the bill, Mr. CoxKfsG (rep) Of
ported testimony taken by the commriee In reference 10
louisiana, Texas and tho Indian Territory which
srdercf 10 be puned
Inc House at halfpasi four adjourned