New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-01-19

poration had abandoned in Pennsylvania and that
companies we're formed under g general law , 81, Mr.
After further debate, the bill was, on motion OF MI
WILSON Qowa), laid on the table.
Mr.. MEIlCUR Rep., Pa, from the Committee on the
incorporate the Metropolitan Fire and Marine Insurance
Company OF the District Of Columbia -
Mr.. WENTN ORTIZ moved to amend the OIL by insert
Ing among the names OF the corporatoTs the name Of John
j. johnson, the colOred barber Of the House
The amendment was laughngly adopted Dy the house.
the PRIVATE CALENDAR BILL.
Before disposng finally of the bill, the morning hopr
expired and the House went into the Committee on the
Whole on the private calendar, Mr.. PRICE ep, Iowa.
in the chair. . -, .o..a
the following bills to the House, which were thereupon
The House bin to pay and discharge certain debts and
expenditures to the city of Washington.
The House joint resolution TO admit and pay the claim
of Fuller and Fisher VI Missouri passed Dy NOte VI 10
Yeas To 80 Nays
The Senate bill for the relief Of James Pool.
RECEsS-LEGAL TENDER N0TES-MEhORIA. al,
On the motion OF Mr. INGERSOLL Rep, Ih) the
House agreed to take from o'clock to q o'clock
deliberations upon the Reconstruction BILL
Mr.. HILL Rep Ind. gave notice that he would miro
duce bill suspending for two years the further ree-
ment cancellation Of United states legal tenser treas
Ar. CONKLING Rep., y. " presented memorial Of
Geo H. Camer President Of the Rensselaer, and Saratoga
Railroad Company, asking reductono Oh duty on d
iron. It referred to the Committee on ways ana
Means
THE STEVENS RECONSTRUCTION BILL.
The House then proceeded to the consideration OF Mr.
sevenss Reconstruction BILL the pending question being
on Mr. Bnghams motion refer 1t to the joint Commit
tee on Reconstruction.
Mr.. DONNELLY CRep, Minn) spoke in favor OF the
bin lie said that the Government had the same right to
subordinate the wishes of the Rebels TO the welfare OF the
nation now that 1t had during the war; and President
johnson was right when he asserted that tho rebellion
had deprived the Rebel States Of all civil government
and that their institutions Frustrated and laid out
upon the ground 1t the duty OF the Govern
the welfare of the whole people, not OF
part 1t cannot be republic to the white man ana
despOtsm the black IL must become either al repuD
lie all dcspoc SO long as IL was hybrid OF Doth,
Congress must expect only confusion ana disorder such
as now reigns in the South.
Mr. ELDRIDGE Dem., Wis., next addressed the House
In opposition to the bill
Mr. RANDALLs Dem, Pa from the Committee on
Banking and Currency reported bill to authorize the
providing sinking fund the extinguishment Of the
national debt. 1t ordered to be printed and recon-
mtted.
"Be enacted &c, that from and after the passage OF
this act II shall be unlawful for any individual assocld-
ton corporation 10 issue as money any note or bi not
authorized by act OF Congress and the Secretary OF me
credit Of the United states such sums as, may
be- necessary for the purposes sh set i [S
OF United States notes not bearing interest," of such
denominations he may deem exped3en not less tnan
s. EACH which said notes shall be lawful money and
legal tender for debts III like MANNER as provided ID sne
fist section OF an act entitled An authorize the
issue of United States notes. and for the redemption and
funding thereof and for funding the floating DEBT OF the
Unitedstates passed February 25 1862 and the proyis
ions of the sixth and seventh sections Of said act
hereby reenacted and applied to the notes hsre author
sEc O. That the notes issued under the act shall be
used only In exchange for the circulating notes issued 20
national banking associations under the provisions OF an
act of Congress- approved March 1854 entitled act
10 provide national currency secured by pedge OF
United States bonds etc. and for the purchase OF such
amount of United Stands bonds may be necessary to
carry out the true intent OF this act -
SEC D. That all circulating notes OF National Banking
Associations which may hereafter be paid into the Treas
ury The United States shall be retained in the Treas
uy aud not agaimput IN circulation and the secretary
OF the Treasury pay out Tor circuatO as the wants
United states notes hereby authorized to be issued and
the Secretary Of the Treasury may exchange United
persons for like amount OF circulating notes
of National Banking Associations; and the seere-
tary OF the Treasury shall notify any banking as
when such amount ii not less than $500 and the said
alter the ng Of said notice 70 redeem said notes the
Treasury OF lie United states in lawful money, ana TO
Treasury for cancellation; and the Secretary OF the
Treasury hereby directed TO cancel the said notes and
to the said banking associations their proportion
Of United States bonds deposited security
for the same. - .,-.,
shall neglect decline To redeem It's circulating notes as
provided in the preceding section within the thirty days
therein specified the Secretary OK the Treasury ~ hereby
auhorizeand directed cancel sneh notice and To pay
said Banking Association in the United states notes
authorized by this act the market value OF the proper
OF United states bonds deposited as secuf
ty for said circulating notes and 10 transfer said bonds
TO the Commissioner OF the Sinking Fund which is herein
after established first furnishing 10 said Banking Assoc
alton list OF the numbers, dates and denominations Of
the notes so cancelled.
"sEC 8. That when the circulating notes Of any ma
toal banking association shall have been far reduced
aud Cancelled az the Treasury that the remaining notes
shall not exceed three per cenun OF the whole amount
III circulating notes originally issued TO said banking assoc
the Secretary OF the Treasury hereby authorized
and directed to return TO said bank the bonds deposited
as security for It's circulating notes, and said banking
association shall be relieved from it's obligations to pay
said notes remaining I'm circulation and the same shall be
redeemed by the Secretary of the Treasury and paid on
presentaton,o the Treasury, out OF any money III the
Treasury not otherwise appropriated 49,,
That the amount OF United states Notes issued
under the authority of tins act shall be invested by the
secretary Treasury in bonds other neresbear
dences of the public debt for such Investment prefer.
shall be given at corresponding price to bonds
latng notes of National Banks. Tho Secretary of the
Treasury the the secretary of the In
terror the Treasurer OF the United States and the Con-
troler of the Currency, shall be the Commissioners
of q sinking fund, whose duty it shall be under
S s%Sn Tom tho secretary o TTsasy
all bonds and other evidences Of debt purchased IN ac
cordance with the provisions OF TINS act ana sad CON-
msOners shall forthwith stamp upon each OF snch bonds
and other evidences OF debt 6eongng to the sinking
fund Of the United states and shall cancel all the sigma
lures thereon until said bonds and other evidences OF
debt have natnred all interests aeerung upon them shall
be- Paid 10 said Commissioners and be invested by them In
bonds Oother interests bearing dent of the United Staes
TO be added to and become part Of the sinking fund to
"sEC That immediately after the close OF eaen fseai
year 1h @ snG nj e Fnd in at least one new
paper published In the cities Of Washington Baltimore,
Philadelphia Boston and New York. and he shall at the
frs, meeting OF Congress thereafter report the same to
each branch thereof"
sisten herewith shah be and the same are hereby re-
pealed.
recess until D. m. then took to until $780,
EVENING SESSION,
The House net for debate at q o'clock, There
wore not many members present, but tho galleries
showed pretty fair attendance OF spectators
Mr.. WARNER diep.. Comm addressed the House in
support OF the Reconstruction bill
Mr.. HENDERSON rep, Oregon followed on the same
Mr. CLARKE G3ep., Ohio followed in a speech ON the
financial question: arguing against the policy Of contract