The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1870-01-12
The Latest News.
xL1st CONGRESS.
WASHINGTON, Jan. II.
SENATE.

Mr.. HOWE introduced bill more ettec
tually to preserve the neutral relations 0
the United States,
The bill relative to the Hot Spring
Reservation in Arkansas, was amended
and pLssed. tt -. "a
me Joint Resolution to extend the lin
its Of the port Of entry OF New Orleans
was passed. '' '-
The bill to exempt canned and pre-
served fish from internal tax, was passed
Mr.. SHERMAN, from the Committee on
Finance, reported us a substitute for al
propositions relating to the national cur
rcncy the following bill:
| A bill to provide national currency OI
C0inantl notes. and to cqualize the dlstrlbu
tiOn nOfcirculating notes. Section l. Betten'
acted de-, That $4,000, ,OOO in notes for cir
culati6n may be issued TO national bank
ing associations, in addition to the $780,,
900, 900 authorized by the 29d section Oi
the act to provide national currency
secured bypledgc Of United States bonds,
and to provide for the circulation and re-
demptiOn thereof, approved June 4, 1854;
and the amount Of notes so provided shall
be furnished to neutrality-suspicious. organ
lied or 10 lie organized in those States and
Territories tllut have less than their proper
tiOn under the appointment contemplae
ted by the provisions OF the act TO amend
the act 10 provide Il national currency Sc
cured by pledge of Omitted States bonds,
and 10 provide for the circulation and re-
tcmption thereof, approved March 81,
1865; hut II new appOrtiOnment will be
made MS soon As practicable, based upon
the census Of 1870 Section g. That ut
the end Of each month after the passage OF
this act II shall be the duty OF the Comp
trOllcr Of the Currency 10 report to the
Secretary of the Treasury the amount Of
circulating notes issued to the national
banking associations during the month,
whercupon the Secretary Of the Treasury
shall redeem and retire and return an
amountuf3 per cent temporary loan Ger
titicatcs issued tm0er the cNCtS Of March q, j,
1867, and July20, 1868, not less than the
amount Of circulating notes so reported;
and lie may, If necessary, in order to
procure presentation Of such tempo
rary loan certificates for rcdemp'
ton, give notice 10, the holders
thereof by publication or otherwise, that
certain of said certificates which shall be
designated by number, date and amount,
shall cease to bear interest from and ailcr
the date Of such notice, and that the cer-
tigcate 10 designated shall not longer be
available as any portion Of lawful money
reserve in the possession Of any National
Bank. Allcr such notice no interest shall
he paid on such certificates, andthey shall
not be counted as part Of the reserve OF
any banking association. SectiOn3. That
upon the deposit Of any United States
bonds bearing interest payable in gold
with the Treasurer Of the United States, In
the manner prescribed in the l0thand Goth
sections Of. the National currency act, It
shall be lawful for the Comptroller Of the
currency to issue TO the assOciatiOnmaking
the same circulating notes Ofdillcrcnt de-
nominations, not less than five dollars,
lual in amount to0O per centnm of gold
value Of bonds deposited, but not exceed
ing 20 pcrcentum Of their par value; which
notes will bear upon their face promise Of
the ASSOCIATION to which they are issued,
to pay them on presentation ut the office
of the association, IN gold or silver coin Of
tho United States, and shall hs rOdeema-
bic upon such presentation In sllch coin.
Section 4, Be il tHrthCr enacted, That
every National banking association form
ed under the provisions Of section 3 Ofthis
act, shall at all times keep on hand not
less than 26 per ccntum of its outstanding
circulation in gold or silver coin 0fthe D.,
s., shall be redecmablc upon presentation
in such coin. Section 4. audi beik; further
eRacted, That every National banking as
soCiatiOn formed under the provision Of sec.
ton 3 of this act, shall atal times keep on
hand not less than 2j per ceutum Of It's out
standing circulation In gold orsilvcr coin
of the United States, and shall receive In
gold or silver coin Of the United States,
and shall receive ut par in payment of
debts thegOld notes Of every banking as
ISOLATION, which at the time Of payment
shall be rcdeeming its circulation III gold
or silver coin Of the United Statcs. Sec
ton s. And 6c Il Further enacted, That
every Association organized for tho pur-
pose Of Issuing gold notes as provided in
the preceding sections shall be subject to
all the requirements and provisions Of the
National currency act, except the first
clause % which limits the circulation Of
National banking associations to $500, ,0OO,-
600. The first clause of section 32 which,
taken in connection with the preceding
section would require National banking
associations organized In the city Of San
Francisco to redeem their circulating notes
ut par in the city of New York The last
clause of section 32 which requires every
National banking association TO receive In
payment of debts notes Of every other
National banking association at par; pro
vided that in applying the provisions
and requirements Of said act to
banking associations herein provided
for, the terms, lawful money, and lawful
money Ofthe United States, shall bchelh
and construed to mean gold a1d silver
coin Ofthe United States.
Mn. PRATT introduceda Il bill giving to
the State Courts concurrent jurisdiction
with the District Courts Of the United
States, In cases ofmaritime contracts and
tools upon nayigaAle ElVaFs and waters
above epb and flow Of tides.
Upon the expiration Of the morning
hour, the Virginia bill was again taken
up the question being upon the motion
ofMR. WILSON to postpone. 4 debate
EnSuCd between SuAINRR, STEWART,
TRUNRULL md YATES as to tho necGssi-
" ofiurther time for consideration before
takingactiOn on theQ question Tho question
being MR YATES motion was not agreed
to; yeas 25; nays 2G
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