New-York tribune., 1869-03-31
XTTsT CONGRESS--IsT SESSION
SENATE. WASHINGTON, March 80
PETITIONS PRESENTED

,,,d and inst treatment Of the Indians
Several petitions for the removal ol Pon"e' "iS""''
Ties were presented and referred
,UscEI1 ASEoUs BILLS AND JOINT RESOLUTIONS
n. wilson Uep, Mass), from the Committee on
Nn.rv Affairs reported Joint resolution for the pro
,,,on Of soldiers ana their heirs by providing Ior W
navment OF pensions in person, and not through
or claim agents. Laid over. - ou,o, q
Mr. WILSON, from the same Committee repor'e" -
M, continuing the freedmens hospitals at Rlchmohu'
vicksbnrg and in the District Of Columbia PaSSeu l.,
Mi PATTERSON qeP n introduced az D'T nstr,ct sH
coTnorafe the Columbia Railway Company OF inc DS'i''
Mr. CATTELL rep, Jl introduced Joint T. resO, esonG
ton authorizing the Secretary of the treasury 10 orr %
nites interests aud costs illegally assessor ahd co
Ieeeu pIT % Zen krfJ introduced bill to provide for
the auditing adjndeatng ana payopS t m sed w bV the
loyal citizens for supplies FURNISHED 10 or use" W N'
armies Of the United states; H., - ,u, 90 inoorrorote
Mr. FERY rep, Conn introduced nlll 10 IN lo9 l5iib
the National Union Paper Manufacturing anu "Oi'
INC Compauy of Washington. -,
Mr. WILEY Rep w. Val introduced 1oinS s I0SV tbe
tu cven,ptjng the counties of West Virginia from ne
opcaon OF the act restricting the jurisdiction VI W
MT mr SNTH0NY Rep r. H. introduced by request he
sal bin TO authorize the POsmasterGeneral 10 cTn h
tract certain parties for the ransporta%9On % Homeo
Tur0pean mails. Also. bill to incorporate th9 IiOoo
pafhic Medical Society OF the District OF CouMDa. a
Mr. COLE ep Ga ntTSuHcgS G goroad 9 and telegraph
line from Central Pacific Railroad 10 the Coior'"o
Mr. KELLOGG Rop.. La introduced joint resolu
lion 10 distribute the rank and number OF Government
WAS referred TO the Committee on Rctrenchment'
provides shall be the du'y Of The respective 6aos o
an their employees and keep The same open 70 @ & &
& S empoes and thereafter several Congressional dis
ss , o. a. % fsy5or and the District Columbia shall be
& e's & MN % and faks Of empoy6s in the several Departments
and forces district Territory shall have more than ONE oi any
Is al Appointments shall equle the number and rank
ofenpoy6 above provided for anu he eqasIu0n sn oe ~
Nj sPRAGUE (!cp r. ~ rose to object to the reso-
luton but the VicePresdcnt decided thaI he was 'Oo
Mr.. sPRAGUE Rep, r. H. said he was sorry because
tI- dacig mod n
chievonsy with the heads Of Departments VINO must pe
supposed know better than any one else now 70 man
ge their own official affairs, and having been received
nj all it would probably pass at some time when the
Senators would not be paying attention 10 What was
THE MEMPHIS AND Ell PAso RAILROAD; ~.
Mr MORTON Rep Indl moved to take up the III lfpuso p
bin to grant the right of way to the Memphis, HI Faso
AM Mr. kRB0TF CRep n c. thought the bill ought TO be
referred 70 tue Committee the Pacific Railroad
Mr. CONKIING rep, n. " objected to the consdeFa-
formed that there were objections it which would be
best examined by Committee and second, Decduse ~
was not ono Of the measures which the majority OF the
Senate had agreed should be considered at this session.
Mr. HOWARD (Rep., Mich) urged the reference OF Tue
bili 20 the CommJJee the Pacific Railroad It m
VOWED he SAID many important questions one OF them
being the question whether there is really any MehS
and IN PasO Railroad in existence. -,
THIS discussion continued until the expiration OF the
morning hour, which brought up as unfinished business
Mr. SHERMAN QIep.. Ohio then offered an alneho
mcut TO the fourth providing that on the reds
trbutea OF the banking circulation the requlsioh sn
commence with banks having an excess or circulation
ION and having withdrawn Oue-tlird of the excess
above SOO0OOO shall then proceed PRO rata win banks
consulted the Secretary of the Treasury and the Con-
tOer Of the Currency, who favored the course proveeu
for IN the amendment, which was designed TO relieve inc
smaller banks the states from which circulation was 10
be drawn.
Mr.. POOL Hep.. n. c. then offered an amendment 10
the amendment offered some days since ny MF "nsT9,
cges granted by the National Currency act the united
TTpasg-N =
shall during the time they remain therein bear interest
alrrady so deposited as pledge shall after the first OF
January 1870 bear interest only at the rate OF three per
of this amendment, Mr.. Pool addressed the senate at
ergh Ia the course of his remarks he spoke OF the Ma
ing nnpn the remarks of Mr. Fessenden in the last DC
bate the pending bill he said they indicated unfriend
Mr. FEsSENDEN G3ep, Me- denied that he enter
Mr. COLE G,ep Cali declared himself in favor Of re-
dueng The the bonds deposited in the Treas
the elam Of bOndholders FOR special privileges on the
ground that they lent the money 10 IT'S need
the Government but they had been careful TO receive
ample security and 10 bargain for usuious Interest pay
able in gold aud those who engaged in banking received
merely the per cent gold interest upon their
bonds, but also second interest equal or greater IN
amount They first deposited their bonds at the Treas
ury still drawing six per cent interest, and then loaned
their currency at another large rate OF interest No
wonder there would be scramble for the great privilege
that who have should be unwilling to give II
up But they cost the people too much and ought 10 be-
as far possible, abolished III ADDED 10 the Dnl-
den OF the taXpayers 1 S OF the country SlsgCO0o
banking was Iree, and every man who had sufficient
have artificial inducemen to do So as he would have
nuder the Currency act II it were IN his power, he
circulation with United States notes II the National
Banks abolished s3OoOOOOOO in bonds invested in
them might be converted into nOnInterest bearing
United states notes, which would DC safe ana good
Mr. MoRRiLI. Gsep. VT said he was always aston
lshed when the Senator from California specie pay
IN
deposit of bonds security for the National Banks dd
not add arthng burdens Of the people because
the bonds were already existing obligation before
being deposited at all SO far as the privileges OF the Ma
tional Banks were concerned he (alr MOrnlD believed
that thoy were less while their obligations
than those OF banks existing before the by
Mr. WILSON Gep, Massl opposed this bin. He
thought the whole theory Of the National Banking act
absurd The true plan have free banking sys-
tem under which banks would spring up where thcy
were needed, and il forced into existence where they
were not needed, would soon de by the operation OF nat
ural law. "
withdrawal OF the circulation IRON the Eastern states
would be oppressive 10 their interests Those states
already their circulation 10 the South and West but
made those sections pay for u at exOrbitant rates The
only loss therefore, that the Eastern States would suffer
est, and that would fall upon the bankers, and
not upon the wOrkngncn. Ar. Morton criticised
several times by the from Massachusetts, Clr
WILSON, and, In conclusion, said that he Nr. Mortonl
would oppose Increase OF the banking circulation
the country until some provision should be made 10 re
quire the banks to redeem IN lie offered amend
IneDt TO increase the amount OF circulation 10 be with
drawn from States having excess 10000 OOO
proposed in the original bin, 10 SJoOooO00 which
agreedtO
Mr SAWYER Gsep.. S. c. offered an amendment re-
auiriEg banks 10 return the amount called by the
Controller Of the Currency within 20 days after receiving
his requisition which was agreed 10.
Mr. SPRAGUE addressed the Senate upon the general
financial condition Of the country and in advocacy of the
biz introduced by him the other day, 10 provide for
leaning the public money. lie lever had before
Inuch ignorance displayed rs today IN The
discussion OF this question. He read "a sta
tistical statement OF the exports and imports
of Great Britain the United States respectively from
10 deducpd