, 1873-02-05
CHICAGO, WEDNESDAY S

third. Merriam's bill. fixing a penalty for the
non-paSment Of sem,annua1 duty by tho Na-
tional Banks. This bill provides that after July
l., 1873, any National Bank which shall be in
default in payment Of semi-annual duty,
shall forfeit q penalty Of l per cont of the
amount Of such duty for every period
Of ten days in which the bank shall remain in
uroz ont OF the next instalnent Of interest dne
on the bonds of tho bank deposited in the
Treasury.
SENATOR WILSON
he's concluded to resign his scat in the Senate in
about two weeks Tho caucus Of tho Masaacbu-
se:ts !eglalature will be held on tho 18th inst,
and it is generally conceded that Boutwell, viii
be elected to the une1pued term.
SAVINGS BANKS.
me senate Finance Committee to-day decided
70 tako NO 1uftlor action upon Senator Scott's
blll requiring savings banks, organized under
the National Currency ect, to comply with said
act In the matter Of regular reports to tile
Comptroller of the Currency, until a report
seall lave been made by the Commissioners ap-
pointed recently to examine the condition OF
light upon this subject, 'Da and neceaeitato tat,
some modification OF 6cotts bill. II the re-
ports OF those Commissioners ia Forthcoming in
TWO Weeks, do anticipated, this bill will be actcd
On In time to become law this session.
CREDIT MoB1L1ER IN THE SENATE.
Inc aouse adopted q resolution, this after
of the inyestjration tatan hv tha Po1snd Inras.
tiration Co1nr1f+tea III tba statanan+ a th.+ -
tain Senators were implicated thare;n' It
vas done 60 ou;etlv that the nassaco
Of the resolution Was scarcely noticed
IN tho galleries. Tho message was at
once sent to the Senate, and remained on the
table till near the and of thu aession when
Senator Patterson rose and moved % tho annoint.
mont bv The Chair ~ se1act Go-nm;+tae ta
the charges therein @ which Tas M
amir +ha v;na praa;5ant ,,,,;no 1eft i ~ a,,n,1
The noi;on ~ Ia .,,a.'a ~ ~. nn W auGm Nv
Committae to.dav Mt ,rnc1, ;mnnrtanca %A 10
az Il ;a not ~ that r. ~ .up III IN
hv It, ~1@''' @''' $A1A's "AAA W "o14o
szv,,r. ,,.e,,,,1,-,o.
The dahota ;n tha scn.to tc,.7,r ~, sh.~
mans Snacia p.vmant md E,aa n ;e, ~ h;ii Ja
Te1oncd srnrsirp ,pmonnt 10 ~ III sn u
cr1eress ~ thoeht ~ recor or 60 aha t
most imnortont 1naas,rea tbnf las haa., bar-o
Conerass th;s sass;on ps-srd @ oevu ...;t1eI 20
tha f}oor at tho coso - ~ rdn a,.s ~ "
pending anendmcnt hc;no that ,rro,, 1ronnsa7 sa1
tereat nn tha honda whch in Il iie0 ~ rnroaa " IN
~ o11ov the socratsre r. ~ rp ~ s ttotosou @
for rrcenhncEs xrhen ,e aa NJ a1d s;+1 h;u
tn redaa1, H. No4;n,n1 a,s@.ao ooA nr ".'e
fi,e Sncratc ~ III ;n5oa6;ta
IL increase fho n11biic deht v can4;n1,ni1,t -
iss,1;nc f1'o TTe,snrv notaa ,fta- thar Ind ao az
a~caal6as 1 80 iaa5 T1.Ss Ht.aa 'ne1 aau ueen
9n;at r;n lor m ponds u.s. nc saa. man
$1,000 in notes and Get bonds for them. Tha
cnTrant ovnensea and ~ ~ 4u ogaaei ~
eeain Win fnrthn- ~ on haad 1';s 1lra
cess he said micht ~ ~ nd =, ;,,,n Ito ,,nt} ~
immense me funded az was @ piis5 T Up; s'1 81,
me was ,n kn Sy Thurman and
to tha tsa,ar;as H " n{ ~ ~ anomeu
nrehnnsion Of n sen,tora ~ +hora ~ 40 eonid
not noesiblv he nm incraasa ~ ~ -oaa ,,,,n,,-'4
of tie public debt, unless the m EXPENSES ems Of the
exchange Of one form m Of indabtodness .s' tip for
anotLer does not ;ncrease TINT int1ebtcincss
Bayard would vote tor the bin If an nrncnd-
ment vas adonted forhiddinr tha ;ncrease of tho
public debt. He did not Fear that nnv rnoro
lct by this bill. In the frut placo. tho value Of
the naner money now IN c;rcn1,t;on , vii ba
greater, and it's nower to supply the need. Of
business increased: second. the coin Of tho
country viii BE- added to our present cir
par mid thirdly. having N honest currency.
foreign money Viii bo at onr 1'isnosei acnin''
Tho free bnnking section of tho biil viii relieve
those parts of the country which now suffer
most. One thing about the bill that Bnvard aid
not like, Was its tendency toward a bureaucracy.
At the came time he recornized the fact that
the National Bankinr sTatern hnd already been
established, and was not likely to bo done away
with
Thurman did not believe that this bill would
take the country o single step toward epecie nav
n1ent The effect OF It would be to fund tie
grcenback circulation Of tho country in S pcr
Cent bonds. and replace them WITH National
Bank bills fand he saw no reason yhy tho coun-
try should nav SIS, o90.O0O yeor in
interest in ordor to- get circulating
mediun, that everybody admitted wna not az
good as that nc have already. suppose. he eaid.
such = cnso. Tho rreenbacts ara ali fnndod''
Then the banks which arc ohlircd to rcdenrn
thejr notes in gold muBt gupp1r tie D1ace Of The
Treasury notes retired. How rnucl, cnrTencv
can the banks keop out on a spec;o- -payinc baais?
he asked. Theb busincss mon Of the Henate smile1
when thje stranre oucstion was nronnnnded
Int hn continued. iTf Il tnr7,s mt that ia
honta c,1not E.on ,n+ % -,rch crr-orcv =. ~
no1r hova thero ,r;1t ha st1inaancv IL "a
;,,cnov married. and nvarvhodv VIZ owes a. deht
vii IND i har r;7nr n NV Il thsn i,afnro" 'D'
Morton did moi lila TIM Iii becauae It
docs not carry ont the theory That
t,oz hoop or1o11rod br +bo Tho;,7nor
NS~-A "1~AAA~~@-"3 s"@o 0A.*At1AeA