The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-07-19

sage was referred to the Judiciary Committee and
FUNDING BILL RESUMED.
The House again at half-past three O'Clock went
into Committee Of the Whole on the Funding bill
The section as reported by the Committee on ways
and Means was then agreed to.
Mr. LOGAN, (rep) OF ILL.,, offered an amendments as
additional section, as follows
be further enacted That and after the passage Of
this act all authority under existing law TO issue bonds
United States .hs cease and determine provided nothing
as sevsnhres into nvetwenty bonds the change q
bonds Tor coupon bonds nor the ssne as SUBSIDY
to railroad companies, as provided by law
This was agreed to.
Amendments and substitutes were offered by
Messrs. Butler, Pike, Schenck, Lynch, Maynarn
Ross, Ingersoll, Niback, BroOmall, Kelsey and
Hunter, but which, after discussion, were severally
rejected.
The question was then taken on the substitute
offered yesterday by Mr.. Boutwell, providing Tor TWO
classes OF tombstone at five per cent for citizens or
the United States, and one at four per cent payable
in the United States OF at London, Frankfort or
Paris.
The vote was taken by tellers and resulted-Ayes
%, nays 65. So the substitute was rejected.
The committee then rose and reported the Dill ana
amendments to the House.
Mr.. SCHENoK moved the previous question on the
Dill and amendments.
Mr.. BOUTWELL, Tep.) of Mass, hoped the House
would not second the previous question: so he might
0ner his substitute and have vote on 1t by yeas ana
=, The House refused to second the previous ques-
tion-yeas 81, nays 70.
Mr BOUTWELL, tnen 0nereQ Ills SUBSTITUTE.
A. me substitute and the bill, as reported back from
the Committee of the Whole was ordered to be
printed and the vote to be taken on Monday.
me bill as passed upon by the Committee OF the
Whole Is as fOllOws:-
Be enacted That the Secretary of the Treasury is hereby
ss sS Of
Al the OF I'm Of .aas sum De
bearing interest payable in coin the rate Of
three and M per Which
na be from the payment OF all taxes or duties to the
under State municipal local authority and the said
sa the b. o s ss for the
% o er the s
per centm certificates and debts past due maturing be-
fore the end Of the sca and may be issued
Of all outstanding or existing obligations as limited herein
proprated q the duties derived from imported goods the
Year shall spilled to payment interest
n
fifth section Of the entitled act authorize the issue
thereof Tor funding The floating debt Of the United
SEC g. And be it further enacted That from and after the
OF this per centage deductions commission
sale Of
ssss Of The limited or son bullion
Of the United States and all acts and parts Of acts author
sssn Sata @ nee
SEA b further enacted That sier ne Of III.
exchange
States shall be made by inviting the competition Of the public,
by advertising for for such exchanges sales
purchases, which shall awarded to the highest bidder
bidders the Secretary a the Treasury reservng the right
to do
SEC And be further enacted, That hereafter the
any income arising from the bonds other bearing
securities OF the United Stacs other than those authorized
by the first section OF this act payable to person.
municipality body polite corporate company society
whether corporate not corporate of the Treasury Of
the United States shall be and collected by the
Treasurer or other dsbursing officers of the ned States
charged with paying interest the
States In the In which
collection shall be deduction of the amount
of the tax from the Interest pay
ment of such interest
SEC And be it further enacted That and after the
passage Of this act all authority under any existing
Issue bonds treasury notes. obligations
OF the United States snail and determine,
nothing herein shall the of Treasury
known seventhes into five twenty bonds the change
subsidy to railroad companies as provided by law.
The evening session for debate was dispensed WITH
and the House at quarter past five adjourned.
The thermometer in the hall stood to-day at ninety
degrees.