The New York herald., 1870-03-16
HOUSE OF REPRESENTATIVE.
w ARLINGTON, MI
PETITIONS PRESENTED.

PETITIONS PRESENTED.
by Mr. KELLEY, rep) OF Pa.-Of pilots and cti.
zens OF Philadelphia protesting against the passage
Of the bill prohibiting collection OF half pilotage.
BY Mr.. O'NEILL, (rep.l OF Pa.-Of members OF the
Philadelphia Board Of Trade for the construction OF
OF citizens OF Phadephia in favor Of duties on
steel, as recommended in the Tarin bill.
THE FUNDING BILL.
Mr.. SCHENCK, Tep.) OF OHIO, moved to refer the
Funding bill to the Committee OF Ways and Means
Mr.. GARFIELD, Tep) OF Ohio, moved its reference
10 the Committee on Banking ana Currency and
stated the reasons why that was the proper refer
lutlonize the whole national banking system Of the
United States and the whole currency system. It
NV no' ddaT nor 70 borrow money tn carry
on the government. 1t WAS not matter OF ways
and means. 1t amounted TO nothing IN that direc-
ton, except changing the form oil United States
securities. The Committee OF Ways and Means mad
enough legitimate work. 1t had charge OF the rarin
and Internal Revenue blls DC. II lhls Il proposed
perly 20 to the Committee Of Ways and Means but IL
covered the whole duties assigned to the Committee
already before that committee and the committee
had passed several weeks in considering the sub
ject. II was. therefore, natural that the Dill should
60 there.
Mr.. NIBLAcK, (dem.) OF Ind, inquired OF Mr.. Gar.
field whether there was any reasonable prospect or
the volume OF the currency being increased at the
present Congress-.
Mr.. GARFIELD did not consider 1t proper, nor did
he feel himself authorized to make any state
as TO wnat the Committee on Banking and currency
proposed TO report, bur would say that for two
weeks the committee had had under considerable n
the SPECIFIC point how best to the very gener
demand, especially in the West and Southwest for
enlarged banking facilities and the committee hoped
TO be abe To report very soon on the subject. But
the committee considered the question OF loan at
lower rate OF Interest Indispensable to and neces
sariiy connected with any proposition to Increase
the banking facilities. The two should necessarily
90 together, and the committee would be utterly
unable to report bil on the subject that did not
Clude also the issue OF bonds at lower rate OF inter-
est which to base the entire banking facilities OF
the country. That much he could say without vio-
latlng any proprletles.
MIR. NIBLAcK inquired as to whether any increase
OF currency would take the form OF national bank
bills or legal tender notes.
Mr. GARFIELD replied that the resolution adopted
by the House on that subject did not state which
form the increase should t8ke, and therefore the
committee would leave the matter to be decided by
the House, making no recommendation on that
point.
Mr.. scuENcK stated the grounds on which he be-
believed the bill should be referred to the Commit.
tee OF Ways and Means. The man body or the Dill
certainly came within the jurisdiction OF that COM
mittee. There were but two sections which related
TO the business OF the Banking Committee aud the
question before tne House was simply whether the
tall OF bill should carry the body whether the body
should drag after IL the TAIL The bill was one that
related IN irs whole object and matter to the puplo
credit aud the pubic bonds, and now the bonds
should be put upon the market. az what rates and
In wnat form. Ii ne might compare notes with his
colleague as to what had been done outside OF the
House, ne would let his colleague into q knowledge
OF the lact that part OF this very bill relating to tue
public credit had been written by himself (Mr.
Schenck In conference with the the Secretary or the
treasury within the nrst week or the session. He
did not consider that tn gave him any jurisdiction
over the SUBJECT; but he certainly should not have
troubled himself with any or the matters connected
with the Funding bill II he had not expected that that
subject would, IN the course or business come be-
lore the Committee on Ways aud Means
Mr. JUDD, trep.b OF Ill. me.pper OF the Commit
tee on BANKING ana Currency, argued IN favor Of
referring the oi to tnat committee Tne entire
pass oi tue baukln2 interest OF The country was
anected Dy the bill. IL du not provide Tor creating
revenue or for creating new debt out Simply Tor
an exchange OF securities Has there anything in
thts that REQUIRED lDa admitted knowelae of tue