The Portland daily press., 1870-01-12
XLIst O0NGRES5---Seoond Session.
SENATE.

| sented for steam communication with China
and that the mission to China be made frs
| class; and against the renewal of the Corlis
steam engine patent.
Mr. Sumner gave notice of bill to author
lze the refunding and consolidation of the ma
tional deot to extend banking facilities, and tC
establish specie payment.
MIR. Howe introduced bill to more effectu
ally preserve the neutral relations of the United
States.
MIR. Rice called up the bill in relation to the
dot Springs reservations in Arkansas, which
was amended and passed
Mr. Fenton introduced resolution reque ST.
ing the Secretary of the Treasury to REPORT to
the Senate the number OF foreign built vessels
under enrolment or registered now employed
in commerce in the United States, with the
names OF such vessels, whether steam or sail
ing vessels, tonnage of each, where built and
date OF the Law of Congress which in the case
authorized the registration or enrolment of
such forei IN built vessels.
MIR. Corbett called up the bill to exempt
canned and preserved fish from internal tax
which was passed.
Mr. Sherman, from the Committee on FL
nance. reported as substitute for all various
propositions relating to national currency the
following bill:
A bill to provide National Currency of Coin
Notes, and to equalze the distribution of its
circulation.
SEC. l. Be it enacted, &c., That forty five
millions of dollars in notes for circulation be
issued to national banking associations in ad-
dition to the three hundred millions authorized
by the 22d section of the act "to provide ma
tonal currency secured by pledge of United
States bonds, and to provide for the circula-
tion and redemption thereof, approved June
4th, 1854; and the amount of notes SO provided
shall be furnished to the banking associations
organized or to be organized in those States or
Territories having less than their proportion
under the apportionnent contemplated by the
PROVISIONS of the - A Of n omep6 OF M
vide national currency secured by pledge
OF United States bonds, and TO provide for the
circulation and redemption thereof, approved
March 3lst, 1867 but new apportionment
shall be made as soon as practicable, based up-
on the census of 1870.
SEC. 2. That at the end of each month after
the passage of this act it shall be the duty of
the Comptroller of the Currency to report to
the Secretary of the Treasury the amount of
the circulating notes issued to national hank
ing associations during the month, whereupon
the Secretary of the Treasury shall redeem and
return an amount of the three per cent tenpo-
rary loan certificates issued under the acts of
March q, 1867, and July 25, 1868, not less than
the amount OF circulating notes so reported ;
and he may, If necessary in order to procure
the presentation of such temporary loan GER
tifcates for redemption, give notice to the
holders thereof by publication or otherwise,
that certain OF said certificates, which shall be
designated by number and amount, shall cease
notice, and that the certificates SO designated
shall no longer be available as any portion of
the lawful money reserve in the possession of
any national bank; and after such notice no
interest shall be paid on such certificates, and
they shall not be counted as part of the re-
serve ofany banking association.
SEC 3 Ihat 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 10Th and Goth Sec
tlOQS OF the national
lawful for the Comptroller of the Currency to
issue to the association making the same cir
culatlng notes of denominations not less than
30 equal in amount to 80 per centum of the
gold value of the bonds deposited, but not ex-
ceeHas se per Gensam 5a Sb Jther prena enar a aEane Tie
promise OF the association to which they are
issued to- pay them on presentation at the
office OF the association in gold or silver coin of
the United States, and shall be redeemable
upon such prese ntation in such coin.
SEC. 4. That every national banking asso-
citation formed under the provisions of sec. Sd
of this act shall at all times keep on hand not
less than 20 per centum of its outstanding cir
culation in gold or coin of the United States.
and shall receive at par in the payment Of
debts the gold notes of every other banking
association which at the time of such payment
shall redeem its circulating notes in gold or
silver coin of the United States
SEC 5.-That every association organized for
the purpose of issuing gold notes as provided
in the preceding sections, shall be subject to
all the requirements and provisions of the ma
tional currency act, except the first clause of
section %, which limits the circulation of ma
tonal banking associations to $500, 600 900, and
the first clause of section 32 which, taken in
connection with the preceding section, would
require national banking associations organiz-
ed in the city of San Francisco to redeem their
circulating notes at par in the city of New York,
and the clause of section 80 which requires
every national banking association to receive
in payment of debts the notes Oh every other
national banking association at par; provided
that in applying the provisions and require
ments of said act to the banking associations
herein provided for, the terms "lawful money!
and lawful money Of the United States"
shall be held and construed to mean gold or
silver coin Of the United States.
At the expiration of the morning hour the
Virginia bill was again taken up, the question
being on Mr.. Wilson's motion to postpone. A
debate eDsucd between MeSsrs. Sumner, Stew
art Trumbull and Yates. The motion to post
pone was not agreed to-yeas 25, nays 26.
[Senator Morrill,, of Maine, voted in the
affirmative. Mr.. Hamlins name is not re-
corded.
The pending amendment offered by Mr.
Drake, to deprive the State of representation
and remand it to its present condition in the
event of the Legislature resembling the ratif-
cation Of the 18th amendment then came up.
HOUSE.
After an explanation from the Speaker rela-
tive to the records of yesterday as entered on
the journal, the Speaker stated that the gues-
tion was on the passage of the Virginia biIl.
Mr.. Bingham, of Ohio, said he understood
that the Committee on Reconstruction was
prepared this morning to report the bill for the
admission of Virginia. He would therefore
withdraw his bill an1 offer it as substitute for
that of the committee.
MIR. Farnsworth, of Illinois, thereupon, from
the Committee on Reconstruction, reported a
bill tor the admission of the State. The bill
contains the following conditions:-First, that
no person shall hold any Office civil or mill
tary, in said State who shall not have taken
and subscribed to one of the following oaths as
member OF Congress, or as an officer of the
United States, or as a member of any State
legislature, or as an executive or judicial
officer of any State to support the Consttu-
ton OF the United States, and thereafter en-
gagged ia insurrection or rebellion against the
same, or given aid or comfort to the enemies
thereof:--''I do solemnly swear Cor affirm) that
l have been relieved of disability by an act of
ment to the Constitution of the United States. 3"
The second provides that the Constitution
shall never be changed so as to deprive auy
class of citizens of the United States of the
right to hold offices except felons, nor deprive
any citizen, on account of race or coor, from
serving on Juries, nor from school privileges.
The third provides that all persons holding
Office now shall continue until others are chos-
en- under the new Constitution.
Sect. 2-And be it further enacted, that the
election of United States Senators by the Gen
eral Assembly of said State on the 10Th of Oc-
tober, 1863, shall have the same validity as if
made by previous authority of law.
Mr.. Farnsworth, of Illinois, alter the bill
had been read, moved that it be printed and
postponed until tomorrow morning. After a
briet debate the motion was carried
Mr.. Bin2ham's substitute was also ordered
to be printed.
Several bills were reported from the Military
Committee and acted upon. Among them,
one passed to furnish artificial limos to disa-
| bled soldiers.
Mr.. Cobb Of Wisconsin, from the Commit
| tee on Military Affairs, reported bill extend
| ing TO the 1st OF January, 1872, the time fol
making claims for additional bounties. Re-
| committed.
| Mr.. Trowbridge, of Iowa, from the Judiciary
| Committee, reported bill subdividing the
United States judicial districts of Iowa. Pas s-d
| Mr. Strong presented petition of the banks
and insurance companies of Hartford, Conn.
for the abolition of the franking privilege.
| - Mr.. Schofield, Of PENNSYLVANIA, from the
Committee on Naval Affairs, reported bill
for the transfer of the Philade phia navy yard
to League Island, ano moved the previous
| question.
Messrs. Dawes, of Massachusetts, and Wash
burne, of Wisconsin, demonstrated against an
| attempt to pass such a bill under the previous
| question.
Pending the colloquy the morning hour, at
| O'Clock, expired. and the bill went over unit
the next morning hour.
The House then went into a committee o.
the whole for general debate
MIR. Kelley, of Pennsylvania, addressed th
House.