Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-11-30
CONGRESSIONAL.
8 SENATE.


MT. SHERMAN presented the petition
any further contraction of currency, in fa-
vor OF having the National debt paid off in
greenbacks, excepting such bonds as are
expressly payable in gold on their face.
Referred to the committee on Finance. /,
Mr.POMEROY,p presented the.petition of
forty citizens OF Wilmington, Delaware,
for immediate legislation to secure to
women equal suffrage with men in the Dis
trict of Columbia. Referred to the COM
mittee on District OF Columbia.
MIR. MORRILL, Introduced the following
bill: =
BE it enacted That on and after the 4th
day of July, 1869, the Secretary of the
Treasury be and Is hereby authorized and
directed to pay in coin. all United States
notes not bearing interest and commonly,
called legal tender notes, which may be
presented for such payment at the Treasury
once at Washington, or such places as may
be designated or shall be given by the Sec
retary of the Treasury.
Sec. 2. And be it further enacted, That
hereafter. and until January l, 1869, when
ever there shall te in the Treasury of the
United States, after paying the interest and
coupons falling due on the 1st of January
and July of each year. and deducting from
the gold certificates of deposit any excess
OF coin over and above the sum of seventy
i've million dollars, the Secretary of the
Treasury shall be authorized and required,
within thirty days from the 1st of January
and July as aforesaid, to sell the same in
such manner as in his Judgment will best
promote the public interest. He NAV re.
ceive in payment thereof United States
notes, notes of National Banks OF the Uni
ted States, United States compound inter-
est notes and the United States per cent.
certificates.
SEC. g. That all National Banks having
less than 20 per cent. of specie on hand on
their respective capital, shall hereafter and
after July /, 1869, be and are required to
keep and to hold in coin all interest received
on 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 be so construed as to
add any thing to the amount of the reserve
of said banks. =
SEC. 4. 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 in denominations of
five dollars and under, when presented at
the counters of said Banks, and all bills of
higher denomination so issued and pre-
sented may and shall be paid either in coin
or United States legal tender notes.
SKC. 4. That any National Bank which
shall fail to comply with the provisions of
this act, so far as the same may be applica-
BILE, shall be deemed to have forfeited its
charter, and the Comptroller, upon receipt
of satisfactory evidence of the same, shall
proceed to close and wind up the same as
in other cases of forfeiture provided by
law, or in lieu of any such bank may au-
thorize new National Bank, with an equal
amount of capital to be located in such
States as may have less than their due pro-!
portion OF the whole amount now authOr-t
ized by law; Provided, That this shall not
authorize any increase of the present ag-
gregate amount of circulation Of the Ma.
tional Banks. =
Mr.. MORRILL, stated that he should
press the bill at an early day. He was in
favor of Congress graphing with all these
difficulties of finance, and he had no doubt
Of either the purpose or ability of Congress
to 81 adjust the system and pass such meas
ures as would in the end prove more salts
factory than the present statelof affairs of
the country. He hoped all these matters
w. uld be referred to the committee on FL
nance. The bill was laid on the, table and
ordered to be printed. IlA Di!a
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 So 345, ,290.4 received
by Col. .Hulburd as proceeds of sales Of
been charged to the Quartermaster Cen
erals Department, and if not, what legis-
lation is necessary to effect that object.
On motion of Mr.. FESSENDEN. it was
resolved that all subjects before the Senate
on the close of the present session, includ-
ing those before the committees, shall be
continued to next session, and then be con-
tinued in the same manner as if no ad-
journment had taken place; and papers
which have been referred to committees
and may be in their possession at the close
of this session, shall be formally returned
to the Secretary, and by him restored to
the committees when appointed at the next
session.
went into executive session, and soon after
adjourned. ~ .F.5g EEs5
z The House was not in session to-day. ~