Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-12-15

the first OF January, 1872, tho National Banks
shall psy. in coin, fuch Of their notes as may
lie ~presented for rtdemptoi aud shall, on and
after the nrst day OF July, 1870, reserve and
hold in their vaults, al the coin that may he
received by them 9s interest On their stock
held by the Government, for the redemption OF
their siccss.
Sec. 4. And De Il further enacted, That until
the lst of January, 1872 at which time they ara
requiUed 10 begin the redemption of their
ro:ee, the national banks shall keep and hold
in their vaults, the whole resarve Of legal ten
der notes, as now required By law and on and
after that time The reserve oflegal tende. notes
shall be rerlscid as fast as Withdrawn with
coin, and n like amsunt, and said banks shall
thereafter b. required Il 10 hold a reserve In coin
to the like amount, aud for the same purpose
as now required by Law, TO be held in legal ten
der rotes; provided that the Comptroller OF
the currency may, with the consent OF the Sec
rotary OF the Treasury, allow said banks 20
hold a portion OF sid reserve, not exceeding
two-Gnhs of the amount required by law in
United States notes.
Sec. 8. And be il OTthrr enacted, That the Sec
rotary OF Ghe 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 provided
further, that all fractional currency that may
be redeemed shall be redeemed.
SEC. O.. lind be Il further enacted, That on ard
ausr the first day OF January, 1872, the United
States notes shall cease to be a legal tender, in
payment OF debts, but shall be receivable in
payment Of Government dues ss now provided
by law.
See. Z. ind be IL further Gaacted, That the
Secretary Of the Treasury shall nave the power
toIegulate and sell. bands Of the United Sia'es,
10 be due In thirty years, and redeemab,e by
The Government a1er ten years, ct It's pleasure
and bearing interest at the rate OF seven per
cent. the principal an in5,r rest payable in gold,
10 such a amount as may be necessary TO
carry into operation the provisions Of the seq
ond section OF this sc..
Alarse nun er OF bills and resolutions were
introduced relating TO the judiciary, franchise,
Naturalization, education, and appropriately
referred.
TIE Secretary Of War was requested to fur
nish What information he had from ofi5els of
the Bureau relating TO the recent disturbances
in Louisiana. Also to inform the Senate VIVA
number OF troops are employed on the plains,
and whether any volunteers are SO employed
ard IL so, by what authority.
Sherman from the Select Committed TO which
it was referred, reported, with amendments,
the bill Incorporating the New York and
Washington railroad company. Tie principe
provisions as heretofore published, are unal-
tered by the reported amendments.
The Senate met IN Executive sessi II at LIS,
aud continued it about fftee en- minutes, after
which Ar. CattelIiat!oduoed a resolution GEN.
surfing the President for ths views in his mes
In relation 10 the National Dobi. The
was briehy debated by CatteIl, Ed
NUNS, Hendricks and Nye. and thea referred
TO lie COMMITTEES on Finance.
Nr. Wlby lntioduced a similar resolution,
which was Te.eIred to the same committee.
The Senate then greed 10 The House Iesolu-
ton to adjourn nom The 2lst instant TO the 5th
VI January, and ~a5Josrned uutil tomorrow.
HOUSE.
a large number Of bills and resolutions were
introduced, principally relating 10 finance and
reconstruction, al Of which we're sppropTi-
atsly referred.
Mr.. Mullins introduced the resolutions Of the
Legislature, asking an appropTla-
ton FOR the Improvement OF the Tennessee
river. Referred 10 the Committee en- Com.
msrce.
Nr. Arneli offered a resolution reciting that
K2-KIux oatrsges we're continually prse:iced
in Tennessee and elsewhere, and instructing
the reconstruction Committee 10 make careful
int tie shoe matter. Adopted.
Er. stOkes Int,odpcsd q jolnt resolution
granting twenty per cent. additional eompen-
10 employees in the civil ieryIcs OF lhe
Washington, from TIE 3jth OF
June, ls57, 10 the Gjh o. jane, 1865.
iii. Benjamin moved TO lay The resolution on
The table, whieh was agrseI TO by 81 yeas 10
3 nays.
8ir. Broomsil, of Pennsylvania, novel to
the rGies to enable him 10 intr 1duce
TIE foilowiI g preamble ana resolution:
WHEREAS, The President of the United states,
n his annual message TO the F~ortIe.h Congress,
the third session, ssys uIese .o!iows al X
.r4ct from the message ia reference TO the
iqu .dation of The six per cent. boaas by the
D-yHont Of the interest. See last Wednesdays
yrcceoding,I; AID
Mhereas, such a sentiment, If permitted 10
20 10 the world Without immsdiate protest,
might be understood to be the sentiment OF the
yeople OF The United states, ard OF their Rep
-ssentatives in Congress therefore
Rey0Iccd, Th4t all forms or degrees OF repuat-
u aA@ AA0 AAAS@ACN1@FP 49, 49,
o The American people, AMI under no
circumstances will their Representatives con-
.ent to offer the pablo creditors as fan COM
3ensatlon a less amount of money than that
which the Government contracted 10 pay.
rules were suspended by l2G to ga rarty
ca Randall moved TO table the pream-
DE, which was Iej ,cJed by 81 to 49,, and the
EhoIs was then adopted by l4 TO g, viz :
Adams, archer, Grover, Jones OF KenaIcky,
and Trimble o; kentucky.
Mr.. Lawrence, OF Ohio, presented a memorial
the Union League of New York, and OF
cred q resolution fer tine appointment Of a Sc
ect COMMITTEES of seven 10 investigate the irreg-
and frauds therein alleged to ave oc-
,urrei in the city and State of New York, az
sclieg the recent Congressional e~lecti.n, and
no election OF President AMI V.ce-Prtsident
With power TO hold sessions in the State oi
Sew York n elsewhere, by a quorum or by
81 subcommittee, with power to send for per-
and papers. Under = suspension OF the
ulee, and by a vote OF li TO IS, the resolution
vas adopted.
A mess &c was received from the Secretary
Il State, saying tina he publication OF the cor
'e~Spondence relative IL he Alabama claims
be premature and Incompatible with
he public Interests
TIE Committee OF Roads and Canals reported
"a favor Of a military and postal road from
Washington 70 New York, which was recon-
Mr.. butler, Of Massachusetts, introduced a
ill TO enforce the United States laws in Cecr-
ia. Referred.
The Banking Committees report for the grad
lal resumption of specie payment Will be
mp the first Wednesday in January.
The Committee on Expenditures was directed
o fully investigate the alleged improper use of
? 10000 paid for the purchase OF Alaska.
TIE secretary OF state was diteeted 10 inform
he House II 8 representative had recently !
sent by ihe United states to Spain.
The Committee on Foreign Relations were dI- !
ected TO inquire Why United S;aies vessels |
we're charged coub'e the rates charged Bri ish |
n I other vessels in Spanish Yves. Indian ports |
nd whstTemedy is necessary.
The Postmaster General was called on for
opiss OF advertisements relative to postage.
Mr.. Supber offered a Iesolu.ion directing the
COMMITTEES on Military Affairs 10 inquire into
he expsdiency OF repeating the VI Section, OF
he Amy Appropriation Bill of March 1867,
7hich prohibits the organization of militia in
he Southern States. which was adopted and
he House adjourned.
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CUR STATE CREDIT.
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