The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1874-03-27

ur, MeTrlm8n UONeI o. sWOeHHH'S
10. the whole bin the following sec
ions
l. That The maximum limit OF Unit
ed States notes for circulation is hereby
fixed at $400,000000, ST. which sum II
should remain.
Section >, That $460,000, 600 in notes
for circulation, in addition TO such cir
culatiou now allowed by law, shall be
Issued to national banking associations
now organized or which may be here
after organized, aud such increased Cir
culsion shall be distributed auong the
several States as provided in section
one Of an act entitled. IAN act to pro-
vide ior the redemption of the three
per cent. loan Certificates, and for au
increase OF national bank notes, ap-
proved July y, 1870.
Mr.. Logan moved as an amendment
that 60 much Of the 9th section ot the
national currency act, and OF the sev
eral acts supplementary thereto, and
such OF the provisions OF the act &c
provide Tor the redemption Of the three
per cent temporary loan certificates Snd
Tor the increase OF the national bank
notes approved July l2th, 1870, and &c
much or such parts OF any other act OF
acts OF Congress as q limit, or as may
be construed to limit or restrict the eu
tire amount o! notes for circulation tC
be i.slcd under said national currency
account and several acts supplementary
thereto be and the same are hereby re-
pepealci; and that hereafter al aseo'
Citations organized o! that may be or
gaui2sd Tor carrying on the businc ss o
banking under the provisions OF ssl
act. shall lie ireeto establish and or
ran:zc national bankP with circuls-
ton at any place within the sever
al States AMI territories OF the United
States. on lie terms and conditions
and subject 10 all the Limitations anc
restrictions provided By law. excep
Limitation upon the entire amount o.
circulation which is hereby repealed
Tha, each National hanking associa-
ton Low organ.z-i shall kceT
and maiutain s7 part o. its
rcfaryc required Ly law, ont-lalf par
OF the CON received by il as interest or
bonds OF the .nrtci States deposited al
qecu-i,y fo- circulating notes for gov
arumeut deposits, and that hereafter
onIv onC-hall Of the reserve now pre-
s-r.'sd BE- law for National banking
aseoca,ious zhali consist CT balance
due Ia an association available for re-
dcmptiou OF ils circulating notes, ant
upon which balances no interest shal
! be raid.
lir Morrill,, OF Vermont moved a
IN amendment to the 1t section OF tn
! bin as amended by Mr.. Wright, th
! following: But no part Of the ssm
shall he u-ei in the purchase OF bond
OF the [ uilod States ct above par, no
for the cuTrsu; r~rr1scs Of The govern
meut
/ M, Buckingham gave notice that b
would offer a. q substitute the bill in
! lroiuccd hy him in December last 4
provide fer free banking, to secure a.
! elastic currency 10 appreciate the ma
rioual ol'.gat.ous AID to reach speci
uavmen,s without commercial embar
rsssmgul This provides Tor the re
demp@ion Of United states notes IN col
o. interest hearing bonds, from aud al
ter Janusrv lst, l>I5, aud for the re
Iemp,iUn OF the United States bond
tearing intcrys. in coin at q rate OF no
I,sz than 6 per cent per annum in lega
tend ruot.s all accrued interest il
coin.
! Peni,r, a.ocu-zou tic Senate ad
IiJ1rn"'