, 1870-07-02
sfrFed, II possible. II these bonds could 60 into
tle market without reservation. he would faTor the

sSssyed T. possible Il these bonds eou'd 60 t1to
bill. --19@''
Several members o. The Demec5atis t;,4h s1de, H.
1enqet the position taken By 31T. Cox, though lt
was not vert clear. from the confused mode
81 r. T ae e4 e1ass Tather
ing Wall street than Tammany Hal.
DAVIS, a. ~. MOOD, and MUNGER. LII.
WOOD criticised the Committee OF Wars and
Means being snbe, e, to ens deception sa ara
guilty Of gross tnpropF1ety In attempting to palm
81 Oh The House and country information thus |
Iii. MAYNARD called ..AIr: Wood to order Tor !!
charging the Committee Of Wars and Means with |
gross 1mproprtety, atd the Words were ruled by |
MI. WOOD would not repeat It, but would not |
take it back
The question was put, and he WIS allowed to
The discussion on the section Vas closed by Mr.
Scheuck.
the word bulIon". the words assayed and
stamped under the laws Of the United States,"
Another amendment By Mr.. DAVIS to make the
interest On gold certificates instead Of per cen1
Nj. Bufle1s motion to strike out the fifth Sec
The sixth section vas then read for amend
MT. MAYNARD moved to odd clause reqalr-
ing animal statement Of the sinking fund. WHICH
was negBtiyetl.
providing for the Issue Of per cent bonds. for
Whtch Ereenbacks should be cxchangeable, and
into Which they should be convertible.
Mr, SCHENCK moved the previous question:
| on tic bin and amendments, which was second
Mr. DAVIS amcpdment vas rejected, and the
entirely tn the negative Messrk- Brooks a. n,
ee1, aad nutler oiassl tia not yots; ys;s The e.
raesans votinG F,9ga1 AGAINST it were Davis a. III
me House Bill Vas then adopted as substitute
| for thc Senate s,ili.
| Adjourned,
The following Is the bill as It passed the House;
| A BIZ. to Authorize the Refuudtn9 and Console
datton Of the National Debt, and for Other Pur-
be i enacted By the Senate and nouee ef RcPrs-
sentatires Of the Cnited States Of Aaeie1 il Con-
ury Is hereby authorized to issue, IN sum Of
j. s:ss's,sd ssaas OF & asi Il
United States, in sueh to11n as ne may prescribe,
and Of denominations Of fty dollars Or some lnul-
tlne Of that sum- retee1nabte In coin of the pres
e:,t standard value at the pleasure Of the United
States after tfy years from the date Of their issue
and bearing interest rayahe semi in sncn
| coin Mt the rate Of per cenfum per annnm.
which said bonds and the interest thereon shall he
exempt fre N the payment Of all taxes or duties OF
the Cn,tel states IS vel as fEom taxation in any
itJ; and The satd bonds shall hare set forth and
expressed upon their lace the above specified con
! titlons, and shat+ With their coupons. be made
payable at the Treasury Of the United States. But
nolbinE In this act, or IN any other law now n
force shall be nsuned to authorize any inSrease
SEC g AHd Be ii further enacted, T1at tae secFe,
tsry Of the Trashy Is hereby authorized TO seIl
act at not less than their par vue for coD and to
apply the proceeds thereof to ne redemption @ o.
any Of Tie bonds Of the unttett states oatstandnS
| value ar he mar exchange the same for such i've.
twenty ponds, par for paT; bnt the bonds hereb,
: authorized shau be used for no other puspcs<
> SEC 3. 4nd be IL further enacted, That the nay
mcnt Of any Of the bonds hereby authorized ate
be made in amounts to be determined from a. tn !.e
time py the Secretary Of The Treasury At his ais
ss sssa md ana By acsesss s91ssss b tue ee asts
: siyc payment With the bonds last dated aud NUN
1eseapon eaeo 81 al she seesesa1y Il lie Treasary
give public notice, and the interest on the PSI
10 ticular bonds SO selected at any time to be pait
shall cease at the expiration Of three moutn
10 | from the date Of such notice. ....
SEC. 4. 4nd 1e il further enacted, That the Set
= reta15 Of the Treasury Is hereby authorized an
@ a1y Of he United States. WHICH he may lawful
apply to such purpose, or which may 9e .srs dense :
1s sa5s & S ot ,hs iss aa senfs e. sc
1T ssl. 'eRes al T. ss Rs'' 8
rSega puc no1ce e be e evsn oy hc Secretary q ii
Treasury, and in three months after the date
snch public notice the Interest On the bonds 50 = :
il ban be competcnt for the holders and owue
Of any Of said bonds 80 speci1ed for Payment,
exchange the same for BONDS issaea a ra qnae5 5d
the notice provided for in the second seeton
=, this act. ,,... cox-.,,
Of tic Treasury Is tcryby authorized 10 receive 20
ae eoIu Of the EIted States. or bullion, assaJea
stamped under the laws Of the United States {
ae Of not less than one hundred doliais, With =
LOT Treasurer Or any assistant Treasurer Of the uni
ae u e tas a who a
therefor certificates Of deposit made N :, So
ILL., form rs the Secretary Of the Treasury gasl pi
pei anpun; and any amount q gold coin or b
at any tme utter Thirty days from the date OF
~ ~ postt, and after ten days notice and On INC
iu1n Of said cert1cates: Fouidtd. That the ntt
49, 1t m the be Pleasure of ine Secretary Of the Treasul
And ns Les s h1n nor PET ior m rep
ses seatea sp'n ~ ana ssa sep asR5s
shall oe retained IN the Treasury for the paWyme "
OF said certificates; and the excess beyond =
seee1s.g of q tic M to !he
demption OF such outstanding bonds Of ne un1i ~
,io twcnty bonds, as he may designate under the p
n7 visions Of the fourth section Of this act; ana
| certificates OF deposit QS af0IeSIu may DC
a ceived at par, with the interest accrued there'
tn payment for any bontts authorized to be tssu
Mo by this act.
DIE SEC .. And bctt further enacted, That the nni
States bonds purchased and noW held III the Ire
,+ urY In accor1ance with the provisions, relnune
wv sinking fund.- Of section i've Of the act entt
ish IAN act to authorize the Issue Of United sta
isa a notes snd for TIC redemption OF funding Their
ave- ave and for funding tho floating debt q !
ans United States," approved Februa1y tTenty.h
~ ~ | eighteen hundred and Etxty-tW0, aud
se7 other United states bonds which have been p
chased By the Secretary Of the Treasury with 81
+ha Plus funds IN the Treasury and now held IN
~ Treasury OF the Epted Stntes, shall he cancel
1"e ana destroyed, detailed record Of such bonds
linn cancelled and destroyed to be first made IN
tnn tba books Of the Treasury Department ANY bo1
liz n bareafter applied TO said sinking fund. and
slta other United States bonds retleemed or paid be
Inn | after by The United States shall also
an ~" / Ike manner he cancelled and deStToye
h1e | and the amount OF the bonds
each class that have been cancelled and desHp::
xraa shah be deducted respectively from the amoqn
+he each class Of the outstanding debt Of the IN
ait Statea In addition to other amounts that may
ans7 applied to tho redemption or payment Of the
fnr lie debt, IN amount equal to the Interest," or
varv a bonds belonging to the Aforesaid ainKtns u
shall be applied as the Secretary Of the Treas
1c,a, ebail from time time direct, to the paymen
! f.1-I F<N{k SnHk{rF