The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-07-15

ssue of per cent. temporary
1rtifcates to redeem the COM
ID interest notes.
he question was on Mr.. TrumbulPs
mendment providing for monthly
sales of gold by the Treasury Depart
ment, not exceeding Sl0,000,000 q
month, commencing the lst Of August
next, until the amount in the Treasury
does not exceed S4O,OOO,OOO.
A long debate ensued, Messrs. Trum-
bull and Cameron supporting the
amendment aud Mr. Cattell opposing it..
The latter read q communication from
the Secretary of the Treasury to show
that the balance in the Treasury will
soon be reduced by payments of inter
est and for Alaska to about S37 ,OGO, 600.
Mr.. Trumbull then withdrew his mo-
ton to make his amendment 4 substl-
tute for the bill, and offered it as an adj
ditional section.
Mr.. Howe spoke against the bill and
Mr.. Williams in its favor.
Further debate sprung up.
Mr.. Sherman insisted GA the regular
order, and the funding bill was taken
up.
Mr.. Hendricks took the floor and COM
menceda political speech in reply to
others made recently.
Mr.. Stewart replied to Mr.. Hen
bricks.
The question was on Mr.. Wilson's
amendment proposing the issue OF fifty
year bonds for the consolidation OF the
debt, to be taxed one-half per cent.
1t was rejected.
Mr.. Howard moved to add to the sec
ton legalizing gold contracts, a proviso
that it shall not apply to removal or
extension of an Indebtedness under q
contract already entered into, unless
such contract originally required pay
ment in coin.
Mr. Sherman offered q substitute for
Mr.. Towards amendment providing
that where the stipulation to pay inter-
est in coin is device TO obtain illegal
or usurious interest, it shall not be en-
forced.
After some discussion between Messrs.
Conkling, Williams aud Corbctt Oh the
amendment, Mr.. Cole delivered pre-
pared speech, arguing that the legisla-
ton Of gold contracts will gradually
cause gold to reappear in circulation,
and any other than this or similar
plan would create general distress.
at 4:3:,, Mr.. Trumbull moved to go
into executive session, whichprcvailed.
After an executive session n recess
| was taken.
AT the evening session the House
amendments to the bill for the discon-
tinuance of the Freedmcn's Bureau
were concurred in.
The funding bill was taken mp.
Mr.. Williams offered modification
to Mr.. Towards amendment, which
was accepted by the latter and adopted.
1t is rs follows. provided, that the
section shall not apply to contracts for
the borrowing of currency or the re-
newal or extension under contract
already entered into, unless such con-
tract originally required payment in
COIN
Mr.. Ramsay moved to strike out in
the clause legalizing gold con-
tracts hereafter made the word "h"ro-
| matter" and insert therefor January
| |, 1867" After discussion, the amend
ment was rejected.
Mr.. Ferry moved to insert in the
clause providing that said bonds and
their proceeds shall be used to redeem
TIE interest bearing debt, the words
"at the option of the holder"
Mr.. Davis moved to lay the bill on
the table. Rejected.
Nr. FesSenden suggested TO strike
ont the words "fOr the redemption,
payment, purchase or exchange for
in the clause just proposed to be amend
ed and insert tho words ain exchange
for"
Mr.. Fessenden supported his amend
ment.
Mr.. Sherman replied.
Mr.. Cameron offered an additional
section forbidding, after the passage of
this act, payment of any commission
per ceutage on compensation to any
person for the sale or negotiation Of any
bonds or securities OF the United States.
Mr.. sherman stated that similar
provision had been inserted in the ap-
preparation bill passed recently by both
Houses.
MessrS. Howard and Conkling urged
that even if it should prove n super
| fluffy the amendment would do no
harm. 1t was then agreed to.
A question by Mr.. Patterson, of n. H.,
in regard 10 the effect of the Sd section,
to which Mr.. Sherman replied, gave
rise to considerable debate, Messrs.
Fessenden and Conkling strenuously
opposing the provision and Messrs.
Sherman and Summer n tenaciously
defending III
Mr.. Conkling moved TO strike cut the
third section.
Mr.. Morrill, gave notice that lie would
move to strike out of the section that
portion giving rise to the principal OBJ
iections, leaving simply the provision
allow ing the conversion of lawful
money into bonds and to add the words
land the lawful money SO received
shall be cancelled and not again re-
| issued.
Mr. Norlills amepdwsgt was reject
ed.
Mr. Conkling's motion to strike out
was agreed TO, and the bill passed.
Adjourned.