The Evansville journal., 1868-03-28
CONGRESSIONAL PROCEEDINGS.

SIN AZ zs....-.....-- W WAsHISaToS. March 2.
Chandler called up the bill to reg
ulate the coasting trade on the north
ern, northwestern and eastern from
tiers Of the United States, for which
he offered an elaborate substitute
Chandler explained that a vessel
clearing at Buffalo is now obliged to
take out a manifest at every port at
which it touches, but this bill author-
lied the captain to state in the orig
inal manifest what his cargo Is and
where to be delivered without requir-
ing him to take out any other until
| he should reach his destination. The
fees and other features of the original
bill were but slightly changed. AT
the suggestion of Fessenden, the bill
was laid over, Chandler giving notice
that he would call it up tomorrow. :
/ The bill supplementary to the Ma
tional Currency Act was next taken
up. Cattell spoke in its support.
Cattell said that this bill would cor
rect what experience had shown to
be a defect in the currency system
namely, plethora of money in East
erh cities to the impoverishment Of
other places, resulting from the send
| ing Of bank revenues, which are in
tended to be the conservative power
| of the system, from the country to
city banks, which pay interest on
/ them and appropriate them as if it
were movable capital, and thus de-
/ stroying the reserve required by law
/ to be kept backs The banks were
| properly lenders and not borrowers;
and when they departed from their
| proper sphere, they became specula-
! tors in money His friend from Mis-
souri, (Henderson) would probably,
before the session closes, introduce
some measure looking to an increase
/ in the volume Of the currency, for the
benefit of the West. When the man
ifest tendency Of the practice he had
referred to would be to continue the
scarcity Of money. the only thing to
correct the evil, IN his opinion, was
such a bill as the present one forbid
ding the practice.
Cameron said the country banks
found it necessary to ascertain the.
seasons Of the year, when their funds
were otherwise unemployed, to keep
their balances in the city to draw in
terest. He moved to amend the bill
by inserting In the first section as fol-
lows: Nor shall any bank located in
said cities loan to brokers, or other
! persons engaged In stock speculations,
any portion Of their funds. He then
suggested that as this bill requires
consideration, 1t be laid over.
On motion Of Morrill,, of Maine,
the bill was laid over, and after dis
cussion whether to take up the Union
Pacific Railroad Bill, as desired by
| Howard, or the Navy Appropriation
Bill, the latter was taken up Dis
cussion followed on the amendment
kstriking out the provision making
navy yard employees subject to ap-
pointment by the President, with the
consent of the Senate. M
Fessenden and johnson advocated,
and Sumner, Wilson and others op-
posed it.
The proviso was stricken out by a
vote Of % to 8. aaH
Other amendments were agreed to
pending the final action on the bill.
The reports of the Committee of
Conference on the bill In regard to
placing into the Treasury the pro-
I ceeds of captured and abandoned
property, and the bill to relieve GER
tain manufacturers from internal tax,
were presented by the Clerk of the
House, with the announcement Of the
concurrence of the House At the
instance of Sherman, the latter was
Immediately taken up, and he ex-
planned that the Senate amendment
had been substantially agreed to, and
also explained the nature of the
/ House amendment punishing whisky
frauds by fine and Imprisonment.
/ After discussion, the report went over
till tomorrow.
Wilson offered an amendment,
which was adopted, providing for
sending the bill passed over the
President veto last eveaing to the
Secretary of State for PRONUNCIATION,
signed by the Secretary of the Senate
and the CLERK of the House.
j Without further action on the Navy
!. Appropriation Bill, the Senate ad-
ourned.