Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1867-12-05

less than tw enty per centum of specie On
hand on their respective capital, shall en-
and after July L 1869, be required to l1eep
and to hold inn coin all interest received en-
the United States bonds which may be de-
| posted by them according to law with the
Treasurer OF the United States, provided,
that this shall not he so construed as to add
anything to the amount of reserve of said
banks.
SEC. t. That on and after the 4th day of
July, 1869, all National banks shall be and
hereby are respectively required to return
and pay in coin, on demand, all their bills
issued for currency, of the denomination OF
five dollars and under, when presented at
the counters of said banks, and all bills OF
a higher denomination so issued and pre-
sented may and shall be paid either IN coin
or United States legal tender notes.
SEC. 3. That any National Bank, which
shall fail to comply with the provisions OF
this act, so far as the same may be appli-
cable, shall be deemed to have forfeited its
charter, and the Comptroller, upon receiv-
ing satisfactory evidence of the same, shall
proceed to close and wind up the same as
in other cases offorfeiture provided by law
and IN lieu of any, such bank may, author
izc q new National Bank with an equal
amount Of capital, 20 be located i'm such
States as may have less than their due pro-
portion OF the whole amount now author
| tied by law: PrOcidcd that this shall not
authorize any increase of the present ag-
ercgats amount of circulation of National
Banks.
Mr.. MORRILL, stated that nc should
press the bill at an early day. lie was in
favor of Congress graphing with all these
difficulties of finance. and he had no doubt
of the purpose or ability of Congress to Sc
adjust the system and pass such measures
as would in the end prove more satisfacto-
ry than the present state of affairs in the
country. He hoped all these matters
would be referred to the Committee or
Finance.
The bill was laid on the table and orde.
ed to be printed.
A resolution was offered by Mr.. CON
NESS. and adopted, calling on the Secre-
tary Of the Treasury to inform the Senate
whether The sum of s., 345, $50. "a, received
by Colonel Hubbard as the proceeds of the
sales of captured and abandoned property,
had been charged to the Quartermaster
Generals Department, and if not, what
legislation is necessary to effect that object
A bill introduced by Mr.. NYE, to regu-
lite the selection of officers in Washington,
was referred to the Committee on the Dis
| trict
On motion of Mr.. EDMUNDS, Z. G..
Dunbar was released from arrest, having
purged himself from contempt on appear
ing before the Committee of Retrench-
meDt.
Mr.. POMEROY introduced bill simil-
ar to the one heretofore introduced by him.
providing a new mode of selecting the
principal officers of the corporation of
Washington. Referred to the Committee
on the District of Columbia.
On motion OF Mr.. FESSENDEN, il was
resolved that all subjects before the Sen
ate on the close of the present session, in
Guiding those before the committees, shall
be continued to the next session, and then
be continued in the same manner as if no
adjournment had taken place, and that pa
pers which have been referred to commit
tees, and may be in their possession at the
close of this session, shall be informally re-
turned to the Secretary. and by him res
tored to the committee when appointed at
the next session.
On motion of Mr.. YATES, the Senate
went into executive session, and soon after
adjourned.