New-York tribune., 1869-03-31

had Deen ashst ASK th tentauon held out before HIM
The worst and most Cnnd SSt b pnsbeI
Sometimes the people become aTouseu anu IS or
sog % me root of the matter except by the plan embod
led in his bill to provide for the roaming the puoc %
M r ,e last three years and he believed that he fully
comprehended IL, and he had not eXaggeratea ~ Lno
10 inform the Senate and the country that all was gong
well. That Senator. doubt. repeated what had had
derived from men who expected 10 be benefited
by the exercise of his INFLUENCE IN his high I'm posi- Gs
senate Of his Owp knowledge that his nformantss
SPsak MSat tRey gave % hm Certainly not What does
know about socletyi How much Of It does he mingle
wth He mngeS with nOSe sn ne Tp of tbe
present situations No shall stand here and either
istSa or misstate the situation without being answered
by me- The Senator understands the creation of parties
man. but he mistakes his calling when he
undertakes to form n Judgment as TO the business
a1ita of the country collected the large cities and
is used increase the value of property there Ihe
manufacturers of New-Engand are manufacturing To-
day at loss and they have made money for the last
two or three years The only way in which success
Crushing ont all who are engaged In the
same business with him. Passing from the financial
TO the social constitution of the country Mr. Sprague
said that his previous remarks upon the latter s1ect
had been severely criticised ana some had charged ta1
lean society from the fact that he described u SO
mnutep II he had not been familiar Titn the Gonsta 10
make such statements about It, because hei'her In
the Senate nor elsewhere would me MAKE Ike
proof The pending bill one of the most dangerous
propositions that have e ever ansaed efo lawn ho would
disturb the relations of over sixty millions OF caplla
and so far from relieving the s0aIn ana west oud
have to pay for the use OF th the ,nterey money;
Of the peope il was rather bill to provide for the
establishment and maintenance OF other INSTITUTIONS IKE
the PARK Bank OF New-YOrk lie had spent so much
the
subject financial condition OF the country because
he @ a e Of the Govern
ment was mainly responsible for that condition
.oe a6 how his ceagao could regard the paragraph
naO6y Bage as e1 gaSH 70 reS9 S9O H'
Mr. sPRAGUE sent 1t to the Secretary VINO read H. ds
follows: a.. ....,, &, -. s.,.,. ,.,s,3,, in
lent low tone public morals society " well as politics Inc ecu
ators application to his duties snl to h et.ensse P % %
ness him to take gloomy view o he general , h
Mr. as SoSd regard tbs an attack upon him
ANTHONY thought 1t rather intended 10 De lrenuy
nnic Affairs He entirely dssented from his colleagues
gloomy view Of the condition OF the country s o1l,
league had refuted his statements Dy telhDR Tue
Senate of his prosperity which was no doubt shared by
other New. England manufacturers.
sfNIr sPRAGUE said that his prosperity was ataheu
only by crushing out all smaller eompettors
Mr. WILSON Qlep, Mass) replied TO Mr. Sprague.
M SSurb he Knew Something Of the condition the
country he believed it TO be reasonably prosperous
several amendments were offered, discussed apd re-
iected and Others were agreed TO- and finally the M was
S ss. 70 an act An provide National
enacted &C. That eye National BANKING asiosaion S sssf,ss ei i
I entitled An provide National Currency secured By pledge
% yss sSp s511Ss ei aSe 5e sb deposit
9s 5sS e public moneys deposited shall
e1ceed per eeuium Of the par value Of the bonds -
. ss TureI s forthwith BY dram Or Otherwise reduce Of
d as herein specified If any agent Of association des
nated depository Of public Tonsi s sah p pay r a esft 1 &
purpose Of o6.ang or retaining SeP % 19 ,U9e ] % & r.
directly Indirectly for making such deposit o. pubic
and on conviction thteoi h aLY C . hss a go or
for less ihan year than tive OF BOTH the dis
SIC Be eaGe<d DC. that Section g Of said act be 80
amended to provide that wh5 day, hG9 ~, ,ss
SS's S"ney bS aSy National BANKING Association rs
Shareholders have voted 10 go into tquaseo as provided 10 .Al
states the amount outstanding lasa Of the United
The Treasurer sscuh Of It's circulating notes which bood sa
be assigned the bank u The mAS9s ss % 10 20 s s s.s s
said bonds to the highest public auction stock Erebgs
the Gy % 81 2s.sn Of i tho United States rfa
pDt .o 10 The outstanding eircaston ami shall
nav surplus Tsmsnbg association
which has heretofore gone ino liquidation under The pro
The money equal amount to IL outstanding ei'eaitoa
h ~ b snail he sold as above described and o that
the oos @ @ S's ' Sa the sssrshoders bef, h. Be
discharged all liabilities therefor pro'ided that any lo
Winding m Asa for ihe paPe,e o. sH'odao3 AZ T!a
the q IT. oo.Ddeg circulation IN a"il money nor
SEC Iad h 5rttcr enacted there shall be allowed tro
Rec,r National Banking Associations spPone ecorases With
the provisions the National Curreoey act 10 f compensation for he
salary Of 500 per a1nnm and ~ addition thereto com
per the arsi thousand dollars eo.cn Of
en fye hunsTed tRousad dollars
Of one per ssS,a & SS en- % Sld commission shall be paid by The
Controller Of the C1Heng out Of any moneys fsai,sa from
provided payment ones commissions may be re,es
IN the tie Controller until e aaais Of The bank are bua
closed which 'au .aal men oe PM ~ .nI ~. % a. ,1 ~ bs ns
more ihg one Receiver has ael y w. o *, e , i
al Receivers appointed as Aforesaid shall be considered Officers or
Tinted States invest the assets Of he bank Their hauds
10 bonds Of the Ipd sis,e. WI NIL h i % VIZ. n R G se m ~ ~ ,ss
United subject TO the order Of TIE Controller o. NE Csn ana
acts and proceedings and the Controller shall be authorized
psvmens provided Tor 10 section Of the which this
ppemenag nd b Judge Of ht Uned states pet Court o tie
on allowed Attorneys fo such Receiver having dne refer
eBoe Of labor performed aud the Interests o the credit
SSc Ind be nr enacted That better distribution
Banking Associations organized In ihe states and Territories
Le st rb sad The circulation herein auhorcd shall Sha
o SSs Rs orsp IN states having circulation exceeding ai pro
ed by entitled act 10 amend an act entitled Act TO
bonds provide the circulation and redemption thereof
and TIE rate Of distribution for 10000 oo fLe cir
the So 200 @ Be according to The gs a. proper
IT, personal within sueh states aud Iefror The
nry' The Controller Of tie Currency shall uroer
the direction othe Secretary the easn showing
circulation each state aud toe amount be retired y
each bank in With section and shall when circulation
for snch sRch banks,
eung with banks having circulation exceeding SlOUo0 ia States
and Withdrawing Third OF their
Of 100 aud then proceeding rata sb banks
exceeding $4,000 10 States having the largest
excess circulation aud reducing the circulation Of banks IN
having the greatest proportion 10 eIees earg updi.
States having smaller proportion until
those reduced the grade ard
tnuug reduction provided for by this hn the ful
of +0O0 herein provided for shall be wtdaWn aa the
withdraw h be distributed the states aud
their 10 eqHas be dbu
among snc and Tenod tie basis
failure of such bank
required within % DAYS after the reqnstioH, IL