Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-07-01
owing too large fees; but it was agreed

TO.
Mr.. Butter, from the Committee on
Elections, reported in the Kentucky case
of Rice, declaring that member disqualified
by the Fourteenth amendment, that the
Governor be notified of the vacancy, and
that Zsigltr, the contestant, be allowed
the expenses of tho contest.
Mr.. Barr presented the views of the
minority, declaring Rice justly entitled
to the seat.
The resolutions will be called up on
Friday next week.
Mr.. Finkelbury reported bill creating
port of delivery at Duluth, Minnesota.
The morning hour having expired, the
bill went over.
Mr.. Benjamin, from the conference
committee on the bill defining the duties
of pension agents, made a report. He
explained that as to the fees of pensions
and claims, claim agents fees were fixed
in this report at ten dollars, except
where written agreements are made and
filed in the department, in which case
the maximum shall be SIS.
On motion of Mr.. Tafe, the Senate bill
for the relief and pre-ernption of settlers
in Nebraska, was taken from table and
passed.
The House, at a quarter past two, pro-
eeeded to the consideration of the bill for
the refunding and consolidation of the
national debt.
On motion, Mr.. Schenck's verbal
amendment was made, striking out at
the end Of section 4, the words. q at any
for in the second section" He expressed
his opinion that the Government should
offer four per cent. loan at par.
Mr.. Blair moved to amend the first sec
tion by inserting the words, 'sThe amount
of interest specified in each coupon shall
be expressed in dollars and equivalent
thereof; in English sterling currency in
francs"
Mr. Davis, of New York, moved to
amend the amendment by adding a pro-
viso that the Secretary Of the Treasury
shall have power, in his discretion, to
make the interest on coupons on the part
of the bonds not exceeding $500, 600, 600,
payable IN any foreign country he may
deem advisable.
Murmurs of disapproval.
MIR. Blair advocated his proposition,
showing the advantages resulting from il
from inducing foreign investment.
Mr.. Wood opposed the bill because he
saw in it the danger of disturbing and in
juring the business interests and stability
of trade without affecting a negotiation
at the proposed rate, and for other rea-
sons.
MIR. Butler, of Massachusetts,, opposed
Mr.. Biain's amendment. He did not de-
sire bonds to be held abroad or to offer
inducements for such thing.
Mr.. Brooks, Of New York, advocated
the bill in the belief that loan could be
effected at a reduced rate.
Mr.. Kelly opposed Blain's amendment
as unbeconing great nation.
. Mr.. Judd, argued that the amendment
was unnecessary, as bondhoIders pur-
chased through brokers thoroughly ia
miliar with the value of the American
dollar.
Mr.. Schenck took the same grounds,
and remarked that the general rate of in
terest paid by the people would fall when
the Government reduces its rate.
Mr.. Coburn also advocated Mr.. Blain's
amendment, preferring that money be
obtained in Europe, that the American
people may use their own money in
building mills, bridges and railroads.
Messrs. Blain and Davis amendments
were rejected.
strike from the first section the clause
exempting bonds and coupons from all
taxation; but subsequently withdrew it.
Mr.. Woodward, however, renewed it,
arguing that Congress could not restrain
any future Congress from exercising
that power.
Mr.. Bingham opposed the amendment
and denied the correctness of the legal
position.
Messrs. Woodward and Holman sus.
tanned, and Messrs. Brooks and Butler
opposed the amendment. The latter
claiming that while $40 bonds were liable
to federal taxatioa, Congress could ex-
empt these four per cent bonds from all
taxation. The amendment was rejected
by large majority, the ayes and noes be-
ing refused.
IDgersoH moved to make bonds and
coupons payableSin lawful money, instead
of coin, which was rejected.
Marsbal utoyed the bonds be redeem
able after twenty years, instead OF fehirty.
Coburn moved to make bonds fFe-yesr
bonds. Rejected.
Van Trump moved to make them thou
sand year bonds.
Mr.. Holman moved TO prohibit the
employment Of agents. Rejected.
The second section Was tflsl read.
Mr.. Wood offered an amendment, pro-
hibting the payment of any commissions
or brokerage.
Mr.. Schenck said there was nothing in
the bill authorizing the Payment Of any
brokerage.
Mr.. Randall supported and Mr.. Allison
opposed the amendment, which was
rejected by So to l04
The following Committees of Confer
ence were announced on the Indian an
preparation bill: Messrs. Sargent, Beok
and Clark, of Kansas. On national our
rency bill; Messrz. Judd, Packer and
Knott.
Adjourned,