Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-06-13
BY TELEGRAPH.
LATEST 1'ELBGRAMS.
coNaREssIoNAI. raoarEDINas.
Senate.


Senate.
WASHINGTON June 13.-Mr. Morton,
from the Committee on Foreign Affairs,
reported a joint resolution requesting the
President TO intereede with the Queen Of
Great Britain TO secure the speedy dis
charge of Rev. John MaMahon, convicted
OF treason, felony, and nov confined at
Kipest n, Canada West, Passed.
Mr.. Harlan, from the Committee on the
District Of Columbia, reported, with
amendments, the bill to regulate contested
elections in Washington lie urged its
immediate consideration.
Mr.. Hendricks objected, and the bill
went over.
Mr.. Edmunds introduced bill to regu-
late the time and manner Of holding cleo
tions for Senators in Congress.
+ Mr.. Hendricks, from the Committee on
Public Lands, reported bill to aid in the
construction of e. ship canal from the Mis-
sisippi TO Lake Michigan.
I Mr.. CONFESS called up. the bill in relation
to the Western Pacific Railroad. Company.
1t allows the company TO occupy for a.
depot, storehouse, etc, such portions of
Yerba Bula or Goat Island, in the Bay of
San Francisco, as may be necessary. After
some discussion the bill was laid aside.
Ga motion of Mr.. Sherman, the bill sup
Elementary to an act 10 provide national
currency, secured by pledge Of United
States bonds, and to provide for the circu-
lation thereof, approved June 3rd, 1864,
was taken up.
The question was on the amendment by
the Committee Of Finance. The first
amendment was adopted, making the liqui-
dation restricting the liabilities Of individ-
ual companies, etc, for money borrowed of
the National Banking Association applica-
bic to deposits made by such associations
with private bankers, brokers or banking
associations not included under the national
currency act. The second amendment
provides that within ninety days notice of
a note to be liquidated by shareholders of
the national banking associations, it shall
pay the amounts of it's outstanding notes
into the United States Treasury, and take
up its bonds which otherwise are to be
sold at public auction in New York. The
surplus to be paid to the officers Of the
association. Those already in liquidation
under such are to pay over in thirty days,
under the same penalty, and the notes to
be then redeemed at the United States
Treasury, and the association to be dis
charged from liability. 1t was amended on
motion of Mr.. Howard by making the
auction at the Stock Exchange, which was
adopted. 2 @
The third amendment provides for COM
pensation to receivers of National banking
associations Of three per cent. on the first
hundred thousand dollars, one per cent. on
larger sums not exceeding five hundred
thousand, and one-half of one per cent. on
sums over FIVE hundred thousand dollars,
and collectors to be paid out of receipts
from the assets oae-half of the commits
sions to be withheld on Comptroller's
.dissention, until the affairs of the bank are
closed; such receivers to be considered as
Government agents, with the right to bring
suits in the United States Courts, and the
District Judge to fix the fees for such re-
ceivers. r.s.....
Mr.. Cameron moved to reduce the per
centage named from three per cent. on
100000 to two; from one per cent. on
sums under 100000 TO One-half of one;
from one-half on sums of upwards of
100000 to one-quarter. Ii was supported
by Conkling and opposed by Sherman,
Cattell, Williams and Morton, and adopted
by % to 10. .H 49,
Mr.. Ferry moved to amend, by insert
ing after the provisions authorizing
Receivers TO bring suits, the words " and
may invest the assets Of the bank in their
hands in bonds of the United States, while
the affairs Of the bank are not in liquida-
tion, which bonds shall be deposited with
the Treasurer of the United States, subject
to the order of the Comptroller of the
currency, and the Receivers shall also
make reports to the Comptroller of all
their acts and proceedings, and the Comp
troller shall be authorized to sell such
bonds, from time, in order to make the
dividends and payment provided in the
fifteenth section of the act to which this
act is a supplementary amendment"
Agreed to.
Mr.. Wilson moved to amend by insert
ing after the words "The sum of the fol-
lowing one hundred millions of dollars,
and in issuing the said circuling notes pre-
ference shall be given to banking associa
tions in States and sections Of the country
not adequately supplied with banking IA
ted States and circulating notes of National
banks combined shall be in excess Of six
hundred and fifty Thousand dollars, the
Secretary of the Treasury is authorized and
required to cancel United States notes to
extent of such excess until the whole
amount ofthe United States notes out
standing shall be reduced to $3.50, 100000,
and that for the purpose to facilitate the re-
sumption of specie payment and the in
terest received by each banking association.
The issue bonds owned and deposited with
the Treasurer of the United States by such
banking associations shall be held az a
reserve fund until said banking association
shall redeem them in coin. The currency
issued by it, and the said specie reserve
fund, shall be used for no other purpose
than for redemption of said currency.
Mr.. Morrill,, of Vermont, approved it,
and moved to add provisio that the
Secretary of the Treasury shall be authori-
zed to Withdraw an equal amount of Uni
ted States notes. A long discussion followed.
( House of Representatives.
q The Speaker said he had been requested
to present to the House, and as the matter
appeared to be national in il character, he
did present an invitation from the Execu-
tive Committee, from the National Ameri-
can Sharp Shooters TO attend public
demonstration and festival which is to
take place at Jones Woods, New York,
from June 81 TO July 6. s a..
6 Mr.. Judd moved that the invitation be
and that the House be repre-
scented at the opening ceremony by five
members.
Mr. Stevens, of Pennsylvania, hoped not,
it was very bad practice TO teach people
to shoot sharp. The motion was agreed to.
The Speaker appointed the following
members TO represent the House: Messrs.
Judd, Garfield, Paine, Chandler and Orth.
Mr.. Price introduced bill to relieve 7.
j. Maxey, Of South Carolina, from his
political disabilities. Referredto the Com
mittee on Reconstruction.
Mr. Bingham, from the Committee on
Il Reconstruction, reported back to the Senate
to the act to admit certain
States TO representation in Congress, with
the Recommendation thar they be concur
red in.
AIr. Bingham desired the action Of the
House speedily on the bill, and would |
therefore call the previous question; but