The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-01-12
FORTIETH CONGRESS THIRD SESSION
Senate

WASHINGTON, jan l2.-Mr. Sumner Mass. J
resolutions adopted at q mass meeting iu Ma
ri9n c0unsy, GeofglS, an the FIRST Of Jannary
in that State, and asking for the passage Of Mr..
summers bill as a remedy.
Mr. Frelinghuysen IN. J) presented memo
rial signed by Franklin Haight, Georse B.
Upton, Henry j, Gardner, and other caoitalists,
setting forth that the proposed subsidies to the
eastern division of the Union Pacific Rail-
road VIII ,o- amount, ara besides land war
either or both the roads for a subsidy of 81. 900
per mile in addition to the land grants thus
saving 70 the Treasury 100000. and offering
10 give give bonds m endorsed by capitalists represent
Mr.. Frelinghuysen said he was opposed to the
granting OF any subsidy to railroad companies
but presented this memorial because one of the
sgners was constituent of his.
ing, reported iavorabIy on the motion to print
lO,lOO copies or Com mm1ssioner Wells report, for
Mr. Sumner (Mass.j, from the Com mi,tee on
Foreign Relations, reported 1svorably the reso-
luton TO provide for bringing home the re-
mains OF our late Minister, Mr.. Coggswell, and
1t was adopted.
House Of Representatives.
Mr.. Butler (Mass) introduced a uill to autho-
its stability and elasticity, lessen the interest
on the public debt, and reduce the rate of inte-
Be 1t enacted, etc., that the Secretary of the
Treasury is hereby authorized and directed,
after The 3OLh day of June next, TO Issue. on the
W
and such further sum as may be necessary to
carry into effect the provisions of this act, in
certificates of value from the Treasury of the
United States not bearing interest, and of such
amounts as he may deem expedient, If not less
than one dollar each, which shall be receivable
In payment of all taxes, duties, excses debts
and demands OF every kind due to the United
States, and for all claims and demands against
the United States OF every kind whatever,
except where the law creating such claim or
demand requires that the same shall be
paid in coin and shall be lawful money and
legal tendertn payment ofall public and private
debts, except.as aforesaid, within the United
all loans made to the United States; said GER
lihcRte of value shall be in the similitude of
that they shall bear only their face
value, the denominst tion or value for
what they are in money, together with
ing, and such signatures, checks, and numbers
as may be best to prevent an over issue or
forgeries, and on the back thereof shall be
printed the provisions of the law under which
they are passed.
Section That after The 3Oth day of June
next, the national banks shall cease to be banks
OF issue, and all taxes on their circulation shall
thereafter cease, and II shall be the duty of
every collector or the officer having received in
payment OF debt or tax due the United
States, any bill heretofore issued by any ma
tional bank, to return.the same on the lst day
of each succeeding month until the lst day OF
January in the year 1870, when such bills shall
be no longer receivable to the comptroller of the
Currency to be cancelled and destroyed in his
presence, and in the presence of the Treasurer
OF the United States anu the Register of the
Treasury, OF which destruction memorandum,
containing the amount OF the bills, their num-
bers and the name of the bank Issuing them,
shall be made In q book kept for that pur-
pose, and signed by the officers aforesaid;
and such collector or other official shall be
credited in his account with the amount 81
returned, and the same shall be done with all
other bank bills and legaLtender notes now
issued or which shall be issued, when they are
returned to the Treasury. ~.