Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-03-08
CONGRESSIONAL.
SENATE.

SENATE.
WASHINGTON, March THE memorial o
! Nicholas D. Trist, Jr., for compensation
for the negotiation of treaty with Mexico,
was referred to the Committee on Foreign
Relations.
The MilitaryCommittee were ordered to re.
port the facts of the Indian massacre
of Bucks surveying party, last summer, in
Nebraska.
10 Admit Texas.
Mr. Morton introduced bill TO admit
the State of Texas to representation in
Congress- It imposes same conditions as
in Virginia. Referred to Committee on
Judiciary.
Also, joint resolution giving officers of
the army detailed at library institutions
the same pay and allowances as though on
active duty. Referred to the Military Com
mittee.
The CherOkccs.
Mr.. Harlan, from the Committee on
Indian Affairs, reported a bill to provide
for carrying into effect the provisions of
the treaty concluded between the United
States and the Cherokee nation of Indians
July 10, 1866. 1t provides for the purchase
from the Cherokee nation all their lands
lying within the State of Kansas, and
known as the Cherokee strip, and also
their lands in Indian Territory, west of Goth
meridian, for the sum of So, 900, 900, to be
placed to their credit on the books of the
Treasury Department. interest to be paid
thereon at per cent per annum.
Lands In Kansas so purchased are to be
surveyed and opened Tor sale to actual set
tiers at S1.25 per acre. Lands purchased
in the Indian Territory are to be appropri-
ated exclusively for the homes of Indians.
The Funding Bill.
The funding bill was taken up.
Mr.. Bayard spoke in opposition to the
establishment of foreign agencies for the
distribution of the Government debt.
He attributed the difficulties affecting
the country to the financial legislation of
the Republican party in putting upon the
country paper currency of no intrinsic
value and deprecated, continuous abuse of
the Democratic policy, and impeachment
of the motives of that party in the Senate,
believing that the only effect was to dimin-
ish the credit of our common country,
when the Republican party should lose the
power they now hold, by an accidental
He objected to the exemption of
the new bonds from taxation, and the
of S13, 900, 600 in connection
with their issue as being grossly excessive.
One-third of the amount would be lib
eral outlay.
MIR. Howe argued that both propositions
submitted by him in his speech in January
were contained in the bill, namely, the
of the legal tender currency
with National Bank notes, and the fund
ing of the existing bonded debt. He
thought it unwise to attempt both at once,
as now, that displacement should
first be undertaken. He did not, however,
agree with the Supreme Court, that legal
tender was unconstitutional.
AS to the bill itself, he thought the pend
ing provision a work of supererogation, as
all the authority that could be conferred on
the Secretary of the Treasury by Congress
was given by the act of April II, 1866. He
also objected to the proposition compelling
new banks to take four per cent bonds
while existing banks should have four and
4 half per cent.
At 400 the Senate took a recess until
evening.
Evening Session.
The following Senate bills were passed:
Appointing managers for national asy-
UNI for disabled volunteers.
Authorizing the Secretary of War to take
,harge of Gettysburg and Antietam nation
Il cemeteries.
Also House bill to authorize the Secre-
AIRY of War to place at the disposal of the
Soldiers Monument Association of Rock
Island, ILL.,, twelve pieces of condemned
ordnance.
The bill appropriating s., 900 for the re-
ief of Gen. Charles +. Smith, who died
while acting as President of the board to
examine claims growing out of the Mexi-
an war, was also passed.
The Funding Bill.
The funding bill was then proceeded
with.
Mr. Corbett advocated his proposition
for the issuance of thirty -five-year bonds,
bearing interest the first three years at six
per cent; the next six years at five per cent;
The next six years at four and half per
cent, and the following twenty years at four
per cent This would insure a uniform
bond
He also favored an amendment to make
the bonds payable in the United States,
and TO change other features of the bill.
Mr. Cole made some remarks upon the
of the prompt extinguishment of
the National debt, opposing any postpone
ment of its liquidation.
Mr.. Scott said, when a member of the
House the Secretary of the Treasury had
bill to regulate the finances,
the principal features of which were:
First, In the disposal and sale of bonds
of the Government, noagent should be ap-
pointed, and no per centaSe, commission
or compensation should be allowed, but the
work should be done altogether by the
officers of the Treasury.
Secondly, that public competition should
be invited by advertised proposals for the
exchange or sale of bonds. Believing
of this kind would still meet the
Of the Secretary. He gave notice
of an amendment embodying these propo-
sitions.
The Senate, at $50, adjourned.