Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-03-01
CONGRESSIONAL.
SENATE.

SENATE.
WASHINGTON. Feb. 2S.-The Vice Presi-
dent presented resolutions from the Rhode
Island and Virginia Legislatures, the for
| mer ratifying the fourteenth and the latter
the fourteenth and fifteenth amendments.
Referred to the Judiciary Committee.
Bills were introduced and referred
amending the act for taking the census,
and to incorporate the Kansas, Indian
Territory and Gulf Railroad.
TIE Enexhaussible Niger
MIR. Sumner introduced bill to enforce
an amendment to the Constitution declar-
ing that the right to vote shall not be de-
MED or abridged on account of race, color
or previous condition of servitude. 1t pro-
vides Any person hindering o citizen of
the United States on any these grounds
from being registered from voting, being
voted for or holding Office, shall be pun
ished by fine not less than one hundred
dollars nor more than three hundred dol
lars and by imprisonment of not less than
thirty days nor more than one year.
A refusal to register name, or receive
count, or give the proper legal effect to
the vote of any citizen under any pretence
of race, color, etc., shall be punished by a
fine of not less than $500 nor more than
81, 900, and by imprisonment of not less
than three calendar months nor more than
two years. The United States District
Courts are given exclusive jurisdiction in
these cases. and are required to enforce
the law. Referred to the Committee on
RcveIs Gets IA Job.
The chair announced the appointment
- fha Nnp,r,nIftaa gf E1uaa
ton and Labor.
Messrs. Hamlin and Anthony were ex-
cused from service on the Committees on |
Disabilities, and Mines, respectively.
Rights of Settlers.
Mr.. Howell offered resolution instruct |
ing the Committee on Public Lands to in |
sert in all future bills, granting lands to |
railroads, provision to secure the rights |
of settlers to homesteads thereon, and re- |
quiring the sale thereof at the same price |
as alternate sections held by the Govern |
ment He said he would speak upon the |
resolution on the first oppor unity, and it |
was laid over for the present.
China and Japan.
Mr.. Stewart offered resolution, which |
was agreed to- requesting the Secretary of |
State to furnish any information in his de- |
partment as to what legislation is necessary |
to effect the administration of justice and |
to protect American interests in China and |
Japan.
Mr. Howard called up joint resolution |
authorizing the Northern Pacific Railroad |
Company to issue its bonds for the con-
struction of its road and secure the same |
by mortgage, but after short debate the |
bill was laid aside and the funding and cur |
rency bill came up.
sherman for n Sinking Fund.
Mr.. Sherman chairman of the Finance |
Committee, delivered a lengthy speech IN |
explanation and support of the bill He |
received the history of the public debt |
funding bills. And asserted that the Secre- |
tary of the Treasury was confident of the |
funding debt upon a a per cent bond
He (Sherman) thought it could certainly |
be done at per cent. Towards the close |
Of his remarks, Sherman said the seventh |
section redeemed the pledge of the United |
States by establishing sinking fund of |
l per cent on our whole indebtness.
Since the close of the war, the Govern
ment had reduced the debt S303, 900, 600, |
and had paid 5000, 900, 900 of unliquidated |
debt due at the close of the war, but not |
then ascertained or completed This |
had all been paid out of surplus reve-
nue.. II was now our duty to make per |
manent appropriation for the sinking fund |
before we reduce taxes, and this bill sup |
plies the best mode.
In summing up he said that if the ST.
200. 600. 600 were taken it would be a re-
duction of our annual taxes of SIS, 900, 600
of gold, representing at . per cent CAPT |
tai of $500, 600, 600. The bill would result
in the adoption of policy if establishing
the minimum to be applied to the payment
of the public debt, thus enabling Congress
to ascertain precisely the amount of taxes
necessary.
The public debt would be represented
by an annuity of $500 900, which
would pay every dollar of it within thirty
years. Its tendency was TO a return to
specie payment. We now again restore to
the United States Treasury note its quail
ity of redeemability, of which it was de-
prived by the pressure of war, and while spe-
Gle payments are suspended the notes Will
not fall in market below the value of your
bonds A mode of redemption and limits
of depreciation being fixed, we might hope
to soon see these broken promises re-
deemed and their place supplied with pa
per money convertible at pleasure into
gold or silver.
In reply to a suggestion by Mr.. COrbett,
relative to the proviso to the Sth section,
that not more than onc-third of the bonds
deposited by any bank as security shall be OF
the classes now authorized, on which the
maximum rate of interest is + or per
cent, Mr.. Sherman said he had prepared an
| amendment as a substitute therefor. The
amendment merely changes the rates of
interest referred to from A. or per cent.
to ) or 81 per cent.
Davis gave notice that he would move to
re-commit the bill, win instructions, to the
Committee.
At three o'clock the Senate went into
executive session and subsequently ad-
| jouned.