Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1872-02-01
HOUSE,

The bill in reference to appeals to the
Supreme Court was, after discussion, passed
substantially as reported.
Mr.. Bingham unsuccessfully striVed to
to have the bill modified, so as to restrict
writs of error to capital Offenses, claiming
that if it applied tomere Penitentiary cases
it would delay and impede justice in the
case of the Mormon prosecutions.
The Syndicate.
On motion of Mr.. Dawes, the report of
the Committee on Ways and Means on the
action of the Secretary of the Treasury in
regulating the new loan was taken I'D. He
was willing to submit the question without
discussion.
Mr.. Kerr representing the minority of the
committee, declined to consent to having
the matter voted on without discussion.
Mr.. Sargent desired to proceed with the
Indian appropriation bill, but it was decid-
ed to 60 on with the syndicate matter. The
resolution reported by the committee was
justifying the Secretary of the Treasury in
the matter of the negotiation.
Mr.. Cox proposed as an amendment a
resolution directing the committee to report
the bill introduced by him forbidding the
payment of commissions on the sale of
United States lands.
Mr.. Dawes briefly recapitulated the facts
in the case and defended the report of the
committee.
Mr.. Kerr, Of the minority of the commit
tee, contested the report.
Mr.. Beck claimed that the three months
interest which the syndicate had received
on the bonds without paying any consider
alton for it was s., ,025, 900, which sum added
to its commissions, made its aggregate COM
pensation $2,462,500. The same compari-
sons applied to the remainder of the loan,
would allow a syndicate to reap the magni-
ficent harvest of 24,000,0OO, and he argued
that no such expenditure was contemplated
in the funding law. He calculated that the
profits of the transaction to the syndicate
was at least Sl,350,000. 1t would be kept
on mind that this immense sum was made
by j. Cooke & Co., in the refunding of less
than Sl35, 100000 out of the $1,500,000,00O
authorized to be refunded, and that the ad-
option of the resolution reported by the
majority would not only be license but an
order to the Secretary of the Treasury to
proceed to refund the other 81, 100000, ,O0Oon
the same terms and through the same
agents, whereby they would pocket at least
per cent on the whole amount, as thev had
already done on part. Congress might
just as well by direct vote put
Thirty-Nine Millions
into the pockets of J. Cooke & Co.
During the discussion Mr.. Maynard from
the Conference Committee on the bill allow
ing certain machinery to be imported free
of duty for sulphur mining in Louisiana
and for plate glass manufacturing general
ly, made report that the committee agrees
to strike out the section for plate glass ma
chinery. The report was agreed TO.
Mr.. Brooks, Of New York, another of
the minority members of the Committee on
Ways and Means, asked Mr.. Dawes if tie
pending resolutions were adopted by the
House, the Secretary Of the Treasury would
regard it as authority for him to 60 on in
the same way with the rest of the loan.
Mr.. Dawes replied that the Secretary of
the Treasury would be assured by the
adoption Of the resolution that in no respect