The New York herald., 1874-05-15
Text Of the Senate Finance
Measure as Adopted.
BILLS PASSED THE HOUSE.
Development Of Frauds in the
District Investigation.
A RECORD OF ROBBERY.

which passed the senate to-day. with all the
amendments inserted:-
Be y enacted 4c that the Act to provide national
o Ss
approved June 1854 shall be hereafter known as the
SECTION q Of the Nations: Bank & &C. S
provided for shs not hereafter rsaur to keep
any Ser @ %
Re- S :4 ssSn SS s s % n hand
sSects as provided in the said section and any national
BANKING Association now orgsn,zsG Or hereafter to be
!, S sOn
as
q Ssa ;:
:s wnn ninety sys ssr the o s
ii he HsGISs the
:.sI.ion: g keep sny portion IL lawful
where than at is counters except as provided for
sS ana
o or sd be- ana the
81 ss ri s s e 1f
vide for the REDEMPTION Of the three per cent
notes prohibing to banks thereafter organized crcu
ss inc hS ss sa
zed 70 issue notes redeemabe IN gold coin 70
Ss ns hs sss ss
Be- y o rules
sstrictions limitations and possess the rights priv.
o S Ss @ Ss
70 ssF and repeal provided by the
sc 6-That every association organized or to be or
@ g.. sf sns ss
ana IN Of the Snea s
equal Ave cent Is g held
When ne CIRCULATING notes q any such
Tnitsd states The same shan b redeemed IN Sniied
by the Of the Currency to the respective
@ month"; az
his discretion. Of the amount Of such redemptions,
WIN f H Tnsa sa IN
. and Of banks Wor
deisced, mutiiated Or otherwise undt for circula.
speos ss'sans sss
Gnsed for edepo a as Provided Herein IN ah .ns
when such redemptions have been 50 reimbursed, the
as
hsy % e ar TO ss
Comptroller of hs Currency sroyed and replaced
:ocissOns reimburse 70 ressry the eharses char S
and the assocaiions hereafter organized shall also
sevsfIay yG rs%burse to the the cost Of en-
ton and the amount assessed upon each
deemed charged iunS on dsposs With the
SEC. S-That any association organized under the act
sf which this !: an - desiring to
gosit o. fswfu money with the The United
% has tnhs
IS ne security Oi such circuatng notes which bonds
On & ssSsisa s
nn sn nSs @ S an m
the snd as
deposit tor circulation shall not % Be Tsdacsa ed S Ssow
sSc: The Comptroller o. the Currency shall under
SIC s.i6st tie entire amount Of United States notes
outsandng and IN circulation at any one time shall not
Ser circulating ting No notes to the amount q 81 shall
ions this % act o. SsSas
volume & % At any time prior M to issue !. shall
amount q United states notes equal t. twenty
Sc 80
nxed by this section, and such reduction shall con-
ss: S Ss sSSS ss ss:
as
slses sss Sa q q
Sny Mrp a msy a n, then Gr
ONCE of the Assistant Treasurer at the d New York.
coupon !ss..ssed sonss Sasls 81
s' Sa 9
pleasure Of the United states alter tesn Years ro@
the date Of their issue and bearing interest payable
sseSstsry Sql q the s1T
are cancelled to he
either purchase redeem the public debt at par in
and S said na the eGe
o duties Ss eas%a s e as OF al
n any form 6y Or % nnder stse municipal m Or local aa-
pressed upon their tie specified conditions
he o1 a. 5
s os n ts so u oen n Of s ns
SEC lOThat nothing in this ct shall be construed to
debt OF the United States ''' ''~p~' = pAO'''
Passage by the House OF the Deficiency
Bill and the Bill Relative to the Freed
mans Savings Bank.
In the House this morning, ON the report by Mr.
Durham, from the Committee on Banking and
Currency, the bill to amend the charter OF tho
Freedman's Savings and Trust Company was dis.
cussed 1t makes it the duty OF the bank officers to
make loans to the extent Of half their deposits on
unincumbered real estate In the vicinity OF the
agency or branch Of the company, worth at least
double the amount OF the loans and to collect as
soon as possible the loans made on real estate
outside the State IN which the deposits were
made. 1t allows the trustees, with the consent
or the Comptroller OF the Currency, to close
at any time any OF the branches or
agencies. 1t forbids the loan OF more tnan
$4,000 to any one person or company.
1t forbids the payment OF more than five per cent
interest on deposits. and 1t provides that when
ever 1t is deemed advisable to wind up the entire
business OF the corporation the trustees shall
select three competent men to do so. who are to
dispose OF all It's property and distribute the pro-
ceeds among It's creditors pro rata. Mr.. Durham
explained and advocated the bill, and announced
that, although the Institution was not solvent,
such bill as this was desired by the majority OF
tne trustees who were confident that they had
property enough to meet oil liabilities, and that In
Twelve months they could pay every dollar that
was que the depostors Alter some further dis
cussion the bill was passed.
Tne deficiency bill was then finally considered
In Committee Of the Whole. The Consular and
Diplomatic Appropriation bill was taken up, but
no action was taken on it. The following is sum-
mary OF Its provisons:-The total amount appro.
priated Is $aa47, ,so4; total amount estimated for
last year, $1,a2e, 1854; total amount appropriated
last year, $l,3ll,35s The new sum appropri-