The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-11

The question was then taken on rec0nsiderlng
the postpOnement vote, and 1t was reconstdefed-
The vote then came back on the motion to post
ponc and 1t was rejected on vote by tellers-79
rHs PREVIOUS QUESTION AGAIN.
Inc Dill was tnen brought again before the
M M Of to re-
on the bill :; but objection was made.
The previous question was moved and seconded
on all the pending amendments, and the House
first vote was on the amendment offered by Mr..
Mitchell, (dem) OF Wisconsin, . member or the
Banking COnmlttee, TO add to section the follow
provided, That in case any increase OF the ma
tonal bank note circulation beyond the present
authorized limit OF 1854 0o0 900 snail take place the
secretary OF the Treasury Is hereby authorized
and directed to retire and cancel legal tender
standing and unpaid legal tender notes snail be
reduced to $500 600 600, and Tor this purpose he Is
authorized TO use anv existing surplus revenue,
or IN default OF any such surplus to sell i've per
cent bonds OF the government"
The amendment was rejected-yeas 70, nays 100.
The next vote was on an amendment offered by
Mr.. Bery, OF Pennsylvania to strike out sections
and OF the BILL Rejected without the yeas and
THE RETIREMENT OF GREENBAcKs REJECTED.
The next vote was on an amendment offered by
Mr.. Farwell, lrep.) OF H. Ia member Of tho Bank
additional section to Mr.. Merriam's substitute =
That so mucn OF the fifth section OF the act en-
titled AN authorize the issue OF United States
notes and for the redemption or funding thereof
and for funding the floating debt OF the United
States, approved February "a, 1862, as relates to
the purchase or payment OF one per cent OF the
entire debt Of the United states annually and the
setting the same apart as sinking fund, be so
amended that SAID purchase OF one per cent as
therein prescribed shall be applied solely to the
non-nterest bearing debt OF the United States
known United states notes, which said notes,
when purchased shall be Cancelled and forever
retired from cremation. The first application or
SAID one per cent to the purpose Aforesaid snail be
made alter the LIST day Of July, 1874, and within
that fiscal year,
The amendment was rejected-yeas y, nays 1O4.
CANcELLING OF NATIONAL BANK NOTES.
The next vote was on the substitute offered by
Mr.. Merriam, Fep) OF N. T., OF the banking Com
mittee the nrst tve sections being identical with
those Of the original bill and the last section being
as fOllOW5:-
SECTION 6.-1hat any national bank desiring to
withdraw portion OF its circulation may, upon
deposit OF United States notes, IN sums OF not less
than $4,000, with the Treasurer of the United
States, withdraw bonds pledged to secure like
amount OF Its circulation, and the Treasurer shall
redeem, cancel and destroy an amount of the Cir
culatlng notes OF such association equal to the
amount issued upon such bonds; provided that the
bonds on deposit with the Treasurer shall not be
reduced below $50, 000.n
The substitute was rejected without the yeas
and nays, the vote by tellers being 81 to 80.
NO BANKS WITHOUT CIRCULATION.
Mr. MAYNARD, or Tennessee, then moved to strike
out the seventh section OF the BILL which allows
banks to be organized without circulation.
The section was struck out without the yeas and
PROVISION FOR SUBSTITUTING GOLD NOTES STRUCK
OUT.
Mr.. berry (rep.) OF Penn, tnen moved to strike
out the eighth section oil the Dill, winch provides
for the monthly issue OF ST. 900 in gold notes as
a substitute for that amount OF legal tender notes,
to be cancelled and destroyed and not relssued.
The eighth section was struck Out-yeas 149,
THE DETAILED VOTE