The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1870-03-04
The Latest News. !.
xLIst CONGRESS-.
SECOND SESSION.
3 |,. tI nv H-' .I
.4n HOUSE. ali 4ru

I r47g4n HOUSE. Il& 4iu
3 WASHINGTON, ID. q, March $.
Mr. DAVIS, Of Kentucky, gave motto
that he would at tho earliest practiCabl
moment report from tho judiciary Com
mittcc the Naturalization bill, and ask 70
The Indian Appropriation bill, will
amendments, was reported TO the Housl
and passed. .g..
Tho House went into Committee Of thC
Whole on the Tariff. bill. 49,
Mr.. ScuENcK said It was tho purpose O
the Committee on Ways and Means to al
low a fair, liberal and thorough discussion
Of a general nature first on the bill before
they proceeded TO consider It by clauses.
Mr., BRooKs, Of New York, spoke il
opposition 10 the bill. He considered the
reduction proposed by the Committee on
Ways and Means, Of thirty millions on
Internal Revenue and twenty millions on
tariff, altogether too small. 1t ought to
be at least sevcnty.tivC or one hundred
millions. ,,l.I.,,,, /. ,.- s,,-.. III,
" SENATE.
The following bills were introduced by
Mr.. CHANDLER: To regulate the foreign
and coasting trade on the Northern, North
western md Northeastern frontiers Of the
United States. "' ~
0Ir. TRuMBuIL called up the bill to
change tho judicial Circuits Tho Senate
Committee amendments defining limits Of
Circuits, were agreed 10.
The amendment requiring the Justices
Of the Supreme Courts Ofthe United States
to be residents of their respective circuits
and that vacancy shall be filled. by u
resident Of the circuit, but permitting the
Chief Justice to reside In any Circuit TO
which he may be allotted, without change
Of residence, was discussed until the morn
ing hour expired, '''"
The consideration oftlle funding bill was
resumed, and Mr.. MoR1II1., Of Vermont,
addressed the Senate on the ilnpolicy Of
issuing any loan at less tban - per cent,
asserting his belief that at the proposed
rate, It could not be negotiated either
among our own people or abroad. The
plan was objectfonal in so FIR US National
Banks were badly treated, in consequence
of which the charters Of many Of them
might be thrown up, and the bonds offered
in the market to the letriment of the
national credit, and at time when the
credit Of the United States should be sup.
ported by the bonds maintaining liberal
price. ~ 't'''
Mr.. MORTON argued TINT in order TO SC
cure the advantages to follow from long
bond tho right Of redemption within q
short time must be LEFT ont. He favored
the offering Of long bond 10 tue amount
Of $11 100000, which should not be re-
deCmable in less than thirty years, with
the privilege Of using any surplus money
in the meantime in buying itup as We arc
now doing. In conclusion he expressed
himself desirous Of voting for a funding
bill Of some kind, but he preferred, ir pos
sible, a practical measure.
Mr.. CAMERON favored the policy Of In:
action by Congress in regard to finances,
believing that in Il few years as our ability
would be eagerly sought for. HsT .a'
Mr.. CHANDLER expressed the opinion
that there would Dol no great rush for 4
per cent, and that flvo hundred million 25
per cent bonds would be taken up at once
and would result in saving in interest Of
s. ,OO0, 600 per annuri. He hoped to live
long enough to see New York the money
centre of tho world, md therefore would
not go anywhere. ont Of the United States
10 establish an agency for paying Our
debts. .a3 'a..,2!
Mr.. SUMMERS amendment was modified
so as to apply the proceeds of tho sale 81
new bonds to tho payment Of SEQ bontls
of1S82, and was lost He offered further
10 amend the first section so that tho bond
provided for should be ii lO.40 instead Oi
1920 bond, and gave notice he would pro-
pose to extend q At percent, loan to tiAy
years md q 4 pei, cent loan to e0ysars.
Mr.. SHERMAN aSsented to the amend
mcnt, regarding 1t mot very material
when by unanimous consent tho section
wNs so amended. T ~