South Branch intelligencer. [volume] (Romney, Va. [W. Va.]) 1830-1896, 1874-06-19
Forty Third Congress.

cy bill was taken NJ, aud after further dis.
cussion was passed by vote of 80 yeas and
Is nays. The following, as stated by the
Baltimore Sun, are the features briefly of
the bill as passed: "For unlimited banking
under the national bank act Of June so,
1864. For reduction of the lawful reserve
In circulation to five per cent This reserve
now amounts TO about $40, 900, 900, aud
would be reduced TO about SIS, 900, 600
and add the difference, so far as i; is not al.
ready added By violation Of law, to the pre-
sent circulation. For maintaining The
greenOacl circulation at its present limit Of
$3.50 200, 900. For reducing the green
back circulation 10 future at the rate OF S3T
% for every 800 of additional national
bank notes issued under this bill, until the
greenback circulation is reduced to $780,
OUO 700, when it shall stop. For the con-
Sertibili'y after January /, 1878, of oil
greenbaeks into five, four.and-s-half, or
four per cent bonds at par-at The option
OF the Secretary of the Treasury-as to rate
OF interest, the greenbacks 50 converted to
! be destroyed. IA the bonds available for
the basis OF national banking are limited in
amount, and few of them are 10 the couu-
try, the practical operation Of this billi is
held would be to slowly Increase tie cur.
rency TO the extent of probably not over
! City millions, aud since the bank notes are
not legal tender except to and from, the 90.
vernment, this increase would be less than
isntamount to On equal increase of green.
backs" In the House, the committee on APP
proptiations reported a bill appropriaine
S5OO,O GOO for the relief Of the sufferers by
the overflow of the Mississippi river. The
civil service reform bill was next taken M,
but no hnal action was taken thereon. Mr..
MAYNARD, of Tennessee, gave notice that to.
morrow be would submit The report Of the
conference committee on the currency bill.
In the Senate, on the 18Th, the commit.
tee on finance reported adversely on House
bill to amend The act to provide for the a.
ba'ement or repayment of taxes on distilled
| spirits IN bond destroyed by casualty. The
currency question was again before tho Sen
/ ate upon the request of the house for tho
appointment Of a new committee Of confer
ence The request was granted, though a
number of members who voted for Il ex
! pressed their belief that nothing would be
accomplished by it. Another request from
The House for conference committee on the
/ moiety bill was granted. a number of
bills from the committee on military efTalrs,
nearly all of them Of a private nature, were
passed without debate.
In the House the currency bill passed in
the Senate on Friday WAS defeated, there
being l46 yeas to los nays. A new con.
ference committee was appointed. The
/ Senate amendments to the moiety bill were
non cancuEred 10, and new conference
committee was appointed. The House, in
committee Of the whole, resumed consider
alton of tho suodry civil service bill. M.
merous amendments we're agreed to, and
the bill went over without final action.
To tho Senate, on the I5,b. the commit.
tee On conference on the bankrupt bill
submitted report. The bill is in sub
stance exactly as it passed the Senate, with
some verbal amendments, aud with the dif-
florence now that bankrupt, after paving
80 per centum Of his Indebtedness. NAV he
/ discharged with the consent Of obe-fourth
/ of his creditors in number, and one-,hird
10 value; the report was concuIred in. In
| the House The committee of conference On
the bull amending tho charter of the Breed
mans Savings and Trust Company, recon,
mcnded that the Senate recede from It's \,
mendment and agree TO the bill Of the
/ House, which allows tho bank to continue
/ business, but prCscribcs the character of
loans that may be made, and of the securi
ties that may be accepted in the future D.
greed to. The House then went into COM
mi;ttce Of tho whole on the sundry civil an
| preparation bill. The bill was further A.
mended and then passed.