The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1870-02-03
The South @nd the West Outvotinn
tho Secti0noliSfS.

the sectionalists.
In the Senate Tuesday the unfinished
business being the bill to provide national
currency of coin notes and to eaualize the
distribution Of circulating notes was taken
up.
Mr.. BUCKINGHAM, who was entitled to
the floor, called for the reading of the bill
introduced by him on January rs providing
for free banking, and proceeded to argue
in favor of that measure.
Mr.. SUMNER believed no measure Of
finance should be considered in this cham
Der not having the object of specie pay
ments in view. He had some time since in
troduccd bill to provide for the resump-
ton of specie payments on July 4, 1869,
and with proper policy on the part of
Congress We might have resumed at that
time.
Mr.. WILLlAMsreplied to the arguments
OF Mr. SUMNER, Mr.. MORTON, and others.
The debate was further continued by Mr..
MORTON and other senators.
The Tice-President submitted an enclo-
sure from the President, submitting from
the Secretary Of State transcript of the
action of Mississippi ratifying the fifteenth
amendment. Referred to the Judiciary
Committee.
The question was then taken on Mr..
Mortons amendment providing that $50,
100000 of additional circulation may be
issued, which was adopted-yeas, 80 nays,
81.
Mr.. CONkLING moved An amendment
that new apportioument of the $52 900,
900 of circulating notes hereby authorized
shall be made so soon as practicable, based
upon the census of 1870, which WAS reject
ed-yeas, 90; nays, 20.
Dir. C0NkLING moved to strike out the
following words, which conclude the first
section " But a new apportionment shall
be made rs soon as practicable, based upon
the census Of 1870"
Mr.. SALISBURY moved an amendment
to repeal the sixth section of the act OF
March Sd, 1865, to amend an act to provide
internal revenue for the support of the
government
Mr.. SALISBURY explained that his de-
sign was to repeal the section in question,
which imposed q tax Of ten per cent. OH
the notes of State banks.
The amendment was rejected-yeas, Is ;
nays, AZ.
Mr.. MORTON then offered an amend
ment authorizing the withdrawal of $751;
600, 900 Of circulation from those States
having an excess to be distributed among
those States and Territories having less
than their proportion, the circulation of
those banks having more than 81 900, 900
capital to be first withdrawn pro rata,
which was agreed to-yeas, "a, nays, 81.
Mr.. KELLOGG moved to strike out the
third, fourth, and fifth sections, which
provide for free banking on coin basis.
which w9s disagreed to-Yeas, "a; nays,
33.
Mr.. VICKERS moved that the aggregate
amount of capital to be furnished to the
banks to be organized on q coin basis shall
not exceed s50,0OO,00O Rejected.
Mr.. SHERMAN offered an amendment
that new apportionment shall be made on
the basis of the census of 1870 of the cir
culation herein provided for.
Mr.. SHERMAN said this was the
same amendment heretofore offered by MIR
CoHKLING and voted down, it being the
opinion of the committee that the language
Of the bill already expressed that object,
but to please the Senator he would renew it.
The amendment was then adopted.
Mr.. WILSON offered an amendment that
no national banking association shall be al
lowed to receive higher raie Of interest
on any loan OF discount than seven per
cent.
MIR. CAMERON moved to amend by au-
thorizing all national banking associations
to receive seven per cent; which was re-
jected.
Mr.. THURMAN moved to amend the
amendment by providing that any loan OF
discount for which more than seven pei
cent. shall be received Or reserved shall be
void which was agreed to, and the amend
ment as amended was rejected-yeas, Is
nays, Is.
MIR. MORRILL,, of Vermont, moved
an amendment that after the census Of
1870 any State which shall DO found to
have an excess of property over the average
of the other States shall have the same
distributed pro rata among the other States
lI NJ: coSsKIrSe: 1hat is gsrmane to
the bill.
MIR. DRAKE: / have no doubt it would
result to the advantage Of Vermont.
Mr.. CAMERON suggested, as this was a
very important bill. sand several amend
ments had been made, that it be printed as
it now stood, and that it be considered again
tomorrow without debate.
Another letter from Hon. Jeremiah S.
Black is made public to-day, in reply to the
romancing panegyric of the late Mr.. Stan
ton by Attorney General Hoar. Mr.. Black
oalls upon the Acknowledgement to explain
his assertion that Mr.. Stanton battled with
"secret plotters with treason" implying
that the said secret plotters were in Bucha-
mans Cabinet, and to produce the evidence
upon which that and similar observations
in his eulogy are based.-W Washington tete-
9rdms-Baltinore San.
a. fnl L