Brownlow's Knoxville Whig. [volume] (Knoxville, Tenn.) 1866-1869, 1868-12-23
srNAToR MoRroN's F1NANcE BILL.


Senator Morton introduced the following bill,
which was read twice and ordered to be printed
Bill 10 ,rouide for the retention IN coin of the
United States notes and fractional currency, and
requiring tie National Banks to redeem their notes
IN coin. e grE
Be it enacted, &C., That hereafter there shall be
no sales of gold belonging TO the Treasury of the
United States and that the surplus gold now in the
Treasury, and that which may hereafter accrue over
and above the amount required to pay the interest
on the public debt and for other specific uses, spec
fled by law shall be reserved and set apart for the
redemption of United States notes and fractional
currency
Sec g. That on and after the lst Of July, 1871,
the Treasurer of the United States shall pay in coin
at the Treasury of the United States, at Washing
ton in the District Of Columbia and at such other
points as may be designated by the Secretary of the
Treasury, all United States notes and fractional
currency that may be presented for retention.
Sec. 3. That on and after the LIST of January,
1872, the national banks shall pay in coin such of
their notes as may be presented for redemption;
and SHALL on and after the LIST of July, $780, reserve
and hold in their vaults all the coin that may be
ceived by them IS interest on their stocks held by
the government for the redemption of their notes
Sec l. That until the LIST of January 1872, at
which time they are required to begin the redemp-
ton of their notes, the national banks shall keep
and hold in their vaults the full reserve Of legal
tender notes as now required by law; and that on
and after that time the reserve of legal tender notes,
as fast withdrawn, shall be replaced with coin to
like amount and the said bank shall thereafter be
required to hold reserve in coin to the like amount
and for the same purposes as now required by law
to be held in legal tender notes Provided That the
Comptroller of the Currency may, with the assent
Of the Secretary of the Treasury allow said banks
to hold q portion of said reserves, not exceeding
two-ffths of the amount required by law IN United
States notes.
Sec. 8. That the Secretary of the Treasury may
cause so many of the United States notes that may
be redeemed under the provisions of this act to be
cancelled as may in his judgment be necessary to the
proper limitation of the currency: PTovtded Jitr-
ner, That all fractional currency that may be re-
deemed shall be cancelled.
Sec G. That on and after the LIST of January, 1872
the United States notes shall cease to be illegal ten
der in payment Of debts, but shall be received IN
payment Of Government dues as now provided by
law.
Sec Z. That the Secretary of the Treasury shall
have the power to negotiate and sell bonds of the
United States to be due in thirty years and redeem
able by the government at It's pleasure after ten
years bearing interest at the rate OF = per cent
principal and interest payable in gold, TO such an
amount may be necessary TO carry INTO operation
the provisions of the second section OF this act
--.s-Io-se
During the Spring Circuit, in a case of
assault and battery where & stone had been
| thrown by the defendant, the following
/ clear anu GOnClubiNt CklUOuNO Woo "a wv
out of laborer
"Did you see the defendant throw the
stone ?"
Il saw the stone, and Ize pretty sure
| the defendant throwed it.
"Was it large stone?'
Il would say it wur largsh stone.
what was its size
Il should say sizeble stone.
Cant YOU answer definitely how big 1t
was p
Il should say it wur a stone Of some big
ness"
.'Can't you give the jury some idea Of the
stone
"Why, as near as l recollect, it wur
something of stone"
"Can't you compare it, so as to give some
notion of the stone p
Il should say it wur is large as a lump
! of chalk.