Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1868-06-13
NEWS BY TELEGRAPH.
To Ohio Statesman.
CONGRESSIONAL.
WASHINGTON, June u.
SENATE.

WASHINGTON, June IL.
SENATE.
Mr.. MORTON, from the committee o.
Foreign Affairs, reported Joint resolution
requesting the President to intercede witt
the Queen of Great Britain to secure tn
speedy discharge of Rev. John McManou
convicted of treason, felony, and now con
lined at Kingston, Canada West.
MIR. HARLAN, from the committee OF
District OF Columbia, reported with amend
ment the bill TO regulate contested election
in Washington. He urged Immediate con
sideration. @ CO - FE
Mr.. HENDRICKS objected, and the bill
went over.
Mr.. EDMUNDS introduced bill in ad
dltion to The act to regulate the time an,
manner of holding elections for Senator
in Congress,
Mr.. HENDRICKS, from the committe,
on Public Lands, reported bill to aid il
the construction of a ship canal between
tne mississippi river and Lake Michigan
Mr.. Sherman's bill supplementary to al
act to provide national currency, secured
by pledge of the United States bonds, ant
to provide for the circulation thereof, ap.
proved June Sd, 1854, was taken up. Til,
question was on the amendments by the
Finance committee. The first amendmen
was adopted, making the limitation, re.
stricting the liabilities of individual com
National banking associations, applicabl,
to deposits made by such associations will
private bankers, brokers or banking asso.
Citations, not included under the nationa
currency act. The second amendment pro.
vides that within ninety days after notice
of vote to liquidate by shareholders o.
National banking associations, 1t shall paw
the amounts of its outstanding notes into
the United States Treasury, and take uI
its bonds, which otherwise are to be sole
by public auction in New York, the sur.
plus to be paid to the officers of associa.
tions already in liquidation, under such act
are to pay it over in thirty days, under the
same penalty. The notes are to be ther
redeemed at the United States Treasury
and the associations to be discharged from
liabilities.
1t was amended, on motion of Mr.. HOW
ARD, by making auction at stock ex-
change, and adopted. ~
The third amendment provides for COM
pensation to receivers of National Bank
ing Associations at 8 per cent. on the first
$100,000 per cent, upon large sums, not
exceeding $500, 900, and % per cent. on
sums over 100000. Collectors are to be
paid out of the receipts from the assets
One half of the commission Is to be with
held, on the Comptroller's discretion, until
the affairs of the bank are closed. Such
receivers are to be considered as Govern
ment agents, with rights to bring suits in
the U. s. Courts; the district Judge to fix
the fees for such receivers.
Mr.. CAMERON moved to reduce the
per centage named from per cent. on
100000, to 2; from one per cent. on sums
under five hundred thousand to one half of
one; from one-halt on sums upwards of
$500 600, to one-quarter. 1t was supported
by Mr.. Conkling. and opposed by Messrs.
Sherman. Cattell, Williams and Morton,
and adopted. r
o. Mr.. FERRY moved 70 amend by insert
ing after the provision authorizing there
ceivers to bring suits, the words, and may
invest the assets of the bank in their hands
in bonds of the United States, while the af-
fairs of the bank are not in liquidation,
which bonds shall be deposited with the
Treasurer of the United States, subject to
the order of the Comptroller OF the Cur
rency, and the receiver shall also make re-
port to the Comptroller of all the acts and
proceedings, and the Comptroller shall be
authorized to sell such bonds from time to
time, in order to make the dividends and
payments provided in the 50th section of
the act to which this act is supplementary.
Amendment agreed to, and the section as
amended agreed to-. - --a
On the last amendment-To increase the
national currency circulation by the sum
OF twenty millions, to be confined to States
and Territories having circulation of less
than five dollars for each inhabitant.
Mr.. WILSON moved to amend by in
serting after the words the sum of the fol-
lowing, one hundred millions, and in is
suing the said circulation notes, preference
shall be given to banking association In
States and sections of the country not ad-
equately supplied with banking facilities
but whenever the amount of United States
notes and circulating notes OF Nstional
Banks combined shall be in exces of six
hundred and fifty millions, the Secretary
of the Treasury is authorized and required
to retire and cancel United States notes
to the extent OF such excess, until the
whole amount of the United States notes
outstanding shall be reduced, to $3.50, ,00O,-
600, and that for the purpose of facilitating
the resumption of specie payments, the in
terest received by each banking association
upon bonds owned and deposited with the
Treasurer of the United States by such
serve fund until said banking association
shall redeem in coin the currency issued by
it, and the said specie reserve fund shall be
used for no other purpose than for the re.
demption of said currency. - t'A u D.
Mr.SHERMAN opposed the amendment
Mr.. WILSON said that New York anC
Pennsylvania have more than two-thirds
of the circulation, and he was in favor o.
free banking.
Mr.. CONKLING pronounced botf
schemes to be efforts to get imitation. an(
proceeded at some length.
After further debate Mr.. WILSON aske(
for division on his amendment, and tn,
question being on the first part thereof, i
was lost withouta division, and at the sug
gestion of Mr.. Sherman Mr.. Wilson with
drew the latter part. '7
Mr.. MORRILL,, of Vermont, moved al
amendment by adding at the end of tn,
section the words, and on the issue of any
increase of national circulation provided
for in this section, the Secretary of tn,
Treasury is hereby authorized and required
to permanently Withdraw an equal numbe
of United States notes.
Mr.. TRUMBULL thought this simpl,
another proposition to borrow money ant
put off the time of desirable resumption
/ Of specie payment. .a =
Mr.. DRAKE protested against the at
tempt of the New England States, already
gorged with circulation, to deny an increas
to the West.
Mr.. WILSON remarked that there is nov
$3.50, ,OO0,000 in the country, which was
larger proportion than before the war, ant
he insisted that tie banking capital of New
England has not increased, but has dimin
ished since the beginning of the war.
At AZ O'Clock, without further action
the Senate went into Executive session ant
soon after adjourned.
HOUSE OF REPREsENTATlvE
The SPEAKER said he had been re
uuested to present to the House, and as tn,
matter appeared to be national in its char
acter, he did present an invitation from tn
Executive committee from the Nationa
American Sharp Shooters to attend pub
lie demonstration and festival, which is tt
4 take place at Jones Wood, New York, from
June 27 to July G. -
Mr.. JUDD moved that the Invitation b.
accepted, and that the House be represent
ed at the opening ceremony by five mem
bers.
MIR. STEVENS. of Pennsylvania, hopet
not. 1t was a very bad practice to lear