Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1869-01-19
Conversational.

Mr.. sherman, from the FINANCE Com
mittee, reported finance bill:
Section |. That any contract hereafte
made specifically payable in coin shal
be legal and valid.
Section 2. That an appropriation Q
$l40, 900, 900 from. the import duties b
applied to the payment, during each FL
cal year. Of the interest and to the redpc
ton of the principal Of the public debt
aud such reduction shall be in lieu OF th
sinking fund.
Sec. s. The holder of any lawful none,
amounting to fifty dollars, or its multiple
may convert the same into coupon o
registered bonds, redeemable in coin q
the pleasure of the United States afte
ten years and payable in coin in fort,
years, and bearing annual interest of tiv'
per cent, payable semi-annually in coin
and said bonds shall be exempt from oil
other taxes than the income tax.
Section FIVE authorizes national banks
without respect to the limitation Of $500,
| 900, 900 circulating notes prescribed BY
the tweniy-second section of said act, te
issue and circulate notes bearing Interest
and payable on demand in coin, and such
coin notes shall be obtained by the mode
provided in said act as to other circulating
notes, and shall be paid on demand in
coin instead of United States notes, and
only be issued to the amount of sixty
five per cent. of the bonds of the United
States, deposited with the Treasurer OF
the United States, as security for the re-
demption of said coin notes. No banks
shall receive less than 100000 of such
coin notes, and such banks and the said
coin notes shall be subject in all other
respects to the limitations, restrictions
and provisions of said act.
Mr.. Williams gave notice of some
amendments.
In the House, among the bills pre-
scented and referred Yesterday, was one
by Mr.. Poland, providing for the issue
of United States bonds, retiring national
currency notes, and for free system of
national banking.
A bill was introduced by Mr.. Coliss for
the appointment of select committee
to investigate the supposed ku-klux
outrages in Alabama.
A bill was introduced by Mr.. Bingham
to admit the State of Mississippi to
representation in Congress. The bill
provides for the admission of Mississippi
to representation in Congress whenever
the Legislature Of that State shall have
ratified the Fourteenth Constitutional
Amendment of the United States, and
declares null and void the disability
imposed BY the third section of article
seven of the Constitution Of Mississippi.
Mr.. Holman offered the followingl
RESOLVED, That in the present condi-
tion of the national finances, no further
subsidies ought to be given by Congress
either in bonds or money to railroads or
corporations, or to promote local enter
prises. but the whole resources of the
country ought to be applied to the press
ing necessities Of the public service in
suc Oh manner as will relieve the people
from the burdens of taxation. !,
Resolred That the grants of public
lands to corporations ought to BE dis
continued, and the whole of such lands
ought to be held as sacred trust to se-
cure homesteads to actual settlers, and
for no other purpose whatever,
He moved the previous question and
The previous question was seconded.
Mr. Wisdom moved to lay the resolu-
tions on the table. when it was negatived
by thirty-four affirmative votes. f
Mr.. Julian desired to offer substitute
that no public lands shall be given to
sid the construction of railroads except
Oh condition of actual settlements in
quantities act greater than one hundred
and sixty acres to e6s person for liked
tax on the full price.
Mr., Holman decided to let it be offered.
Mr.. Washburn, of Indiana, moved to |
lay the resolution on the table, because |
it would interfere with the soldiers boun.
ty bill. The resolution was tabled. Yeas,
ITO; nays, "a.
Mr.. Schoheld demanded a separate
vote on the resolutions The frat reso-
ution. section four, authorizes the Sec
-etary of the Treasury TO issue gold notes
bearing interest of not less denomins-
ion than ten dollars, which shall be re-
,eivable for ell taxes, duties or debts
md also authorizes the Secretary to sup
ply an amount Of such coin notes sur.
rendered for conversion into bonds under
he preceding section, for the purchase
If any part of the securities of the
United States bearing six per cent, and
he Secretary shall cancel an amount of
United States notes equal to sureties SO
purchased.
The President transmitted the follow
ng yesterday to the Senate Of the United
States:
1.-The resolution adopted On the 9th
nst., requesting the President to trans
nit 10 ine Senate a copy vi any pTooia-
nation Of amnesty msds by him since
be last adjournment of Congress, and
.lso TO Communicate to the Senate by
THAT authority Of Law it was made, has
,een received. ! accordingly transmit
herewith copy Of the proclamation,
lated December rs, 1863. The authority
Il law by which it was made is set forth
n the proclamation itself, which ex-
,ressly sffirms that it was issued by vir-
ue Of the power and authority in me
rested by the Constitution and the name
II the sovereign psoplS Of the United
States, which proclaims and declares
and without reserva-
ioR, to oil and to every person,
Eho directly or Indirectly partici-
oated in the late insarrsctjon or
rebellion, full pardon and amnesty for
al the ofenses Of treason against the
United States, or Of adhering to their
snemies during the late civil war, with
he restoration Of all their rights, priyi-
eges and immunities nder the Constitn-
ion and laws which have been made 10
pursuance thereof. The Federal Consti,
ution is understood to be, aud is regarded
,y the second section Of article second
IF that instrument, provides that the
President shall have power 10 grant re-
prieves and psrdons for Gll ofeuses
against the United States, exceptin eases