New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-02-18

.,,...,o .. made. that was the somewhat inqusito
p cSaracer OF bank examinations There wgr1 who
in his state, o0G Wp Judgment was better to
Whether they should loan 10 per cent or 20 pnk exam
their capiaa NO There were other features III the
pnIino law 10 which objection was made ao min
Mr. dSGEEs9SL MS s@ amend said the first
ioe r. nroposed to make the banking system EiteS
one 50 nas s .eySo od Of the Country
%tSSt ooud establish banking institution amo%nt
deemed goO1 bankng capital held in Massachusetts,
Rbode New York. or any other state NO t
was ded m Illinois or OF iron that might be smeted III
Pennsyyana Of copper that might De ICED m
gan OK Iowa or Indiana and why not leave inc
banking business OF the country TO be regnlaed ~
h Of the Republican party, and he hoped tha ~
trade il was also the motto OF the Democra!o pa sba
m,nst our csptn I'm building railroads or canhis VI
opening Mines carrying on the banking ousho''' P
'nGu ProWFRoY concluded the debate. He favored the
amendment of Mr. Butler so TAR rs u aplheu W IL oy
OanAs p ths beef that he free banking OF
Was the hest law that the wisdom OF man had ever maui
put ne sa ar I law Of the state OF NewYork but all
other state banking laws should DC swept a"h3 r one
hoard and new National system estabshed-ne TOT oo
had accepted the situation and had endeayorsu 90 p
true and faithful TO tho banking system ne W
however that it in the wisdom OF Congress " man
this National system as perfect ana W 6 n he was
possible for any legislative system 10 DC - ia
asked why tho Committee on BANKING anu W,
devoted itself to such perfection Oh tns p since tho
swer would be- that the day had not yeI pson ho ne
National banking law or W S.cTset IN the American
Congress TO undertake to adjust fuy It's Ddkns -
to fund its debt make any other @ E
rocnt i'm referenco to its financial matters. He had De
eyid that the first thing 10 be dOne was 70 ~.
IL WAS that the antagonism that existed pe
tween the Legislative aud Exeeutye pr S ALL ho
established in time OF universal peace ana que,, AM.
i'm time OF concord between the different DTahches VI
AaIt.V aH luf
and canactv of the XLIst Congress permanently TO es
tablish the credit OF the United States permanently 70
fund its debt and TO amend perfect ana revise tua,
national banking system as TO meet the wants OF
every portion of the United States All that tey hhd
sought to do In the present bin was to correct paaD
defects existing in the sysem and then TO stop and rest
until the time should arrive to revise the @hol9 SYSTEM,
The debate being closed tho House proceeueu u No'
on the several amendments pending 80, ,,t,.,
Mr. INGERSOLL had the rule read whcn iorolas mem
bers interested N the o. any h sense OF honor
The amendment offered by Mr. Price to the fourth sec,
ton to Increase the allowances OF -, on ner cent
with capta not exceeding O0OO from ~ 10 " per oe'
The rt second and third amendments offered by the
Committee on Banking and Currency being merely
The amendment of Mr. auckland regulating bank cir
culaon at the rate OF 81 eco for each memOer oi Co
gess from states, was TejecteIdL % c-o,so tbo maxi
mum limit Of National circulation by s2ooCOcOOO was re-
The amendment offered by Mr. COBURN n substi
tute for the fourth section agreed to by yeas Vs. nays
&c. The substitute s as follows: a., II,
SKcoY And therefore enacted TO Insure better distribution
The National BauLn Currency that there be issued circulation
notes 10 BANKING orgnIed States aud IerTtore, nav
BANKING than their rata above as herein autoe
shall within yeas II required be Withdrawn pro rata rom
Ranks States having circulation efcecdiHg tus
rroyled 2pr by entitled, Act TO amend IN ae'
proyids National Cueney sronIei ny pledge
on United States provide for the circulation and redemption
approved March 83 to ascertain which the Controller OF
direction 81 the Secretary tie treasury
male Of circulation 70 be el b'
each OF .ueh banks when circulation required make
ouen for such bank commencing Nb ihe bk
m States having circulation aud eneng ouF e
circulation hvug greatest proportion IN eres' she uh
disturbed those smaller proportion until those 10 greater
hy, he reduced and continuing thus TO MAKE the
until thu cfcualon OF Hel
bAnt ,h nearly possible be equated among TIE states Ad
Terutont. according the appraised yane OF an prop
,ry real and personal, within such state anl
Tetor the sane Afoesnd br the eetiiaed'titsnen Of
he Of Territories made by the SecleiA Of
he Trrsmry provided this act shall not Eppy to over
which shall be distributed according 70 Representations
In and upon a such bank return the imognt 80
an red within one Aforesaid shall be the duty oit Coboe
81 he Cuueney 10 sell public aucoH havng gwen tru{ DAYS
notice In evspiper printed In Washington City And ioff CV
an .mount deposited said hAuE sceun Tor rs
,l 10 the circulation EhirAEa from saoh bank aud Nh We
10 redeem many the Of such eans as They come lo
required hom ~ provided 1nh1
The eirun or herein shah be issued on The ereaon
Withdrawn tie aggregate Of circulation shall not at AsJ s
eIeeed SJo0.OO9.oO1 ~, - ,,-
The following is the vote. in detail on Mr. Coburn''
tupu