The Portland daily press., 1873-12-16
SENATE.

Mr.. Ferry of Connecticut, at his own request
was excused from further service on the Com
mittee on Pensions, and the President pro ten
was authorized to ill the vacancy.
which provides for the endowment and supper
of national colleges. Referred to the Commit
tee on Education.
Mr.. Conover introduced bill for the con-
veyance of the Fort Brook reservation in Flor
ida for the benefit of the agricultural college o.
that State. Referred to the Committee on Mil
itary Affairs,
Mr.. Anthony introduced bill for the relie
OF certain officers of the navy. retired, droppeo
etc., under the act of February 9th, 1855. kr
ferred to Naval Affairs Committee.
Mr. Hamilton introduced bill relative TO
leaves of ABSENCE granted to diplomatic cOnsu
lar officers. Referred to the Committee on
Foreign Relations.
Mr.. Morton reported that the committee or
elections were equally divided as to whether Z
seated in the Senate, and asked to be discharg
ed from the further consideration of the sub
ject, and that the whole matter be referred to
the Senate. 1t was so ordered.
A bill was introduced that government con-
struct and maintain cable from the Mississi p
p river near Fort ST. Philip, to Breton IslaLd
and pass of the Gulf of Mexico, Referred to the
Transportation Committee.
A bill repeating the tax of 10 per cent. on
bank circulation, was referred to Finance Com
mittee.
A bill authorizing the establishing of floating
marine schools in each port aud detail Of 80
naval officers as instructors, was referred to
the naval committee.
Mr. Morton introduced resolution that lib.
Pinchback was entitled to a seat in the Senate,
he having prizaa fdcie case, and gave notice
he would call il up Tomorrow. After consider
able debate the motion went over.
Mr.. Sherman called up the resolution report
ed by him, from the Finance Committee on
Wednesday, in regard to present monetary de-
rangement.
Mr.. Pratt of Ind, addressed the Senate IN ia.
vor of the initiation of the currency.
Mr.. Sherman, from the Committee on Finance
reported back the House bill that provided for
the redemption of the loan of 1858, and it was
passed with several unimportant amendments.
The resolution reported by Mr.. Sherman of
the finance committee on Wednesday last, was
then taken up.
Mr.. Forney of Mich, offered substitute
for the resolution recently introduced by him,
directing the Finance Committee to report such
crease the volume of currency 800, 000, 0OO and
the making of the whole currency govern
ment issue.
The views of the minority as reported by Mr..
Bayard on Wednesday. were read.
Mr.. Pratt of Ind, addressed the Senate. He
did not see how it was practicable to return to
specie payment, and favored an elastic curren-
cy. Since the close of the war the country had
been prosperous, labor had been better
paid. and the development of our great resour.
ces had been carried on to larger extent than
ever before. He did not see where the money
was to come from to resume specie payment.
If the Secretary of the Treasury could control
all the gold in the country, he would not have
enough to redeem half of our Obligations, Since
the war there has been constant draw on the
country from abroad, of the precious metal. The
interest ON our bonds held abroad, required an
immense amount of coin. Every year, for the
past ten years, has been against us, ADD this
balance had to he adjusted in coin, or its equiv
alenu. The voice of the entire West was en-
phatic that we want more currency. He refer
red to the high rate of interest, and 10 the fact
that money will be scarce when for legitimate
purposes it commands IL per cent. The curren-
cy should be adjusted to meet lesi innate wants
of business, and in such manner as to look
forward steadily to return to specie payment
He would vote for the resolution reported by
the majority. but would do so with the expecta-
ton that the committee would report pan to
increase the volume of currency.
Morton said he would like to be heard on the
subject, but he was not prepared to speak now,
and asked that the resolution go over till to,
morrow.
Mr.. Sherman had no doubt the Committee
on Finance was prepared to carry into execu-
ton the will of the Senate, but thought it a
difficult proposition to name the day when spe-
Gle payment will be resumed The resolution
was laid over.
The bill authorizing the organization of ma
tional banks without circulation, was taken up.
Mr. Rayard of Del. regarded it as opening
an opportunity for Irresponsible parties to avail
themselves of the prestige conferred by the 6es
ignation of national banks, and impose upon
depositols. Euery petty note shaver under
such bill could convert his shop into nation
al bank.
Mr.. Morton favored the passage of the bill
During the late panic he said there were few
failures among the national banks. most of the
failures being confined to private banking hous.
es in New York, doing large business with the
money of depostors, without ANY of their own
invested.
. AS national banks they would be open to in
spection of government. but as private institu
tions, no one but themselves knew how they
were conducted.
Mr.. Merrimon of N. c., hoped the bill would
not pass. He favored the exacton of increased
securities from national banks. If this were
done it would serve to strengthen the public
confidence in them.
Without taking note, the Senate went into
Executive session and adjourned.
HOUSE.
Under a call of States for bills, the follow
ing were introduced and allowed:
(By Mr.. Frye of Me- for the appointment Of
commission on alcoholic liquor traffic; (by
Mr.. Poland of VT to amend the Sd section OIL
the act of March 18th, 1868, for the collection
of abandoned property in .insurrectionary dis
tricts; (by Mr.. Pierce of Mass.) for the resump.
sation of weighers at the port of Boston: (by
Mr.. Starkweather of Ct. for the improvement
of certain harbors. in Connecticut
(by Mr.. Lansing of New York; for {
by Mr. Cox of New York, to repeal the oath t
applicants for pensions and require another
oath; by Mr.. Hale of New York, to amend
the general pension law: by Mr.. Hazelton o.
New Jersey, for the free transportation of de-
the mails; by Mr.. Kelly Of Pennsylvania fol
the issue of convertible bonds, and the reduc.
tion of interest ON the funded debt; by Mr.
Myers of Pennsylvania, relative to the Coole
trade; by Mr.. Platt of Virginia, to amend the
national banking act;by Mr.. Harris of Virginia
list; by Mr.. Smith of North Carolina, granting
pensions to the soldiers of the Mexican war
by Mr. Bell of Georgia, to allow producers to
sell leaf tobacco without tax; by Mr.. Hayes OF
Alabama, for the establishment of an iron shiI
building navy yard on the Southern coast; oy
Mr. Caldwell of Alabama, for reciprocal free
trade with the Spanish American Possessions
also, to prevent the importation of contagious
diseases; by Mr.. Mum of Tennessee, to reduce
the interest on the public debt and amend the
national banking law; by Mr.. Maynard Of
foreign governments, also for the issue O.
national currency; by Mr.. Atkins of Tenues
see, for the redemption of part of the bonded
debt of the United States; by Mr.. Coburn O.
Indiana, authorizing National Banks to with
draw bonds in proportion to their reduction o
circulation; also, granting pension to thu
| widow of General Candy.
To subttitute national currency for national
bank currency; to prescribe a time for the cleo
ton of Representatives in Congress: for a res
ognition of Cuban belligerancy; to impose g
tax on income ovsr $4,000 per- annum; to increas
pensions of totally disabled pensioners; Il
transfer to the War Department the manage
ment of Indian affairs; requiring marshals ant
clerks of United States Courts to deposit III thu
Treasury the surplus fees received by them,
The total number of bills introduced to-day
was over 800.
Mr.. Myers presented a memorial of drug
gists and chemists for the repeal of the staml
tax on medical preparations, or modification
of the law SO as to confine the tax to patent o.
proprietors medicines. Referred to the Way.
| and Means Committee.
| Mr., Hoar of Mass. offered resolution in
structing the Judiciary to enquire into and re-
| port whether the action of the House is re-
| quired concerning the official conduct of Judge
| OF the U. s. Court for the district of Alabama
| Adopted.
| Mr.. Tremaine from the Committee on Judi
| eiary, reported bill to repeal the bankruptc.
| law, and moved to suspend rules to bring thu
bill before the House. The bill was read. Th'
| first section repeals the bankruptcy law ant
! all its amendments. The second provide
| where there are bankruptcy proceedings pend
| ing, the majority Tin value) of the creditor