Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-02-19

of the country could not be revived fully on
the old volume OF currency.
The question being on the the am anendmeIt OF
OF the whole volume OF national
bank currency, in specie or in
terest-bearing bonds of the Unitei States,
Senator Cameron said the senate was nOS
full enough to-day, and he would rather nave
the vote taken tomorrow, at some hour 10 be
proceed 10 The consideration Of executive
business. Rejected.
The yeas and nays We're taken on - nator
Seott's amendment, and ii was lost yea, p,
Yeas-Anthony, Boutwell,, Buck CHAM,
Chandler, Conkling. Cooper, Cragth. DAVIS,
Fentop, Ferry lConn.l, FreIiDghuysen,
Gilbert, Hozer, Hamilton MIDI, Ham-
lin, Jones. Kelly, Morrill Malnel, Morri'i
t.h Sargent, schuTz, Scott, ahefinsn'
stevenson, Stewart, stockton, Sumner. Wad-
legh-2S.
Nays Alcorn, Dalis, Bogy, Boreman, tam
erOn, Carpenter, Clayton, Dennis, Ferry
Johnson, 10 .sir, McCreery, Merrtmap,
Mitchell, Morton. Norwood, Oslesby, Pat err
son, PTase, Pratt, Ramsey, Robertson, Spen-
Ger, Thurman, Upton, West WrighI-sO.
Seuat tlaunagan, who would have voted
in the affirmative, was paired with Dorsey;
Hitchcock, against the amendment, was
paired with EJinondS; Gordon, against 1t,
with Bayard; Hamilton [TeXasbin favor OF II,
with ingalls,; salisbury, in favor OF 1t with
Senator Brownlow was not in his seat on
account o: indiSpositiOn, having left the SEN
be no vote oa the question to-day,
Senator Howe moved his amendment, above
reported, as an amendment 10 that OF the gen
tlenan from NOrth Carolina Merrimou.
Senator Thurman Satd the effect OF this
amendment would be TO compel the govern
ment to pay nearly two million dollars per
annum interest for th9 sake of having little
more money.
Senator Howe Withdrew his amendment as
an amendment to that of Senator MerriInOn,
and offered 1t in connection with that OF
Senator Cameron for unlimited issue of bank
currency, as substitute fOr Senator Merri-
mons amendment, which instructs the COM
mittee 10 report a bill increasing the
volume OF national bank currency
to four hundred millions OF dollars.
The question being stated by the chair.
Senator Howe said that the last change OF
front by him was a mistake, and he would,
therefore, offer his amendment as he at first
North Carolina Merrimon
Senator Boutwell, said that the amendment
contained principles which would bring
this country TO bankruptcy.
Senator Morton-Will the gentleman state
how?
Senator Boutwell-It is a process by which
you increase the demand for legal-tenders and
diminish the supply. He thought the great
error of the present moment was the tendency
of men to rely on the principles of other coun.
tries, which were not applicable to ours. He
was disposed to look at things around us. and
to take counsel as to what, in our own knOwl
edge, we had in this country. Barring the
circumstance that our paper money is not re-
deemable in COMA currency as good as any
in the world.
Senator Hitchcock moved to adjourn. Lost.
Senator Thurman hoped the whole subject
would be recommitted without any instruc-
tions to the committee. The subject was 50
com plicated, and there was such diversity of
opinion, that Ii would be unsatisfactory, and
If the committee should be instructed, he
thought the best thing to do was to pass the
bill as 1t came from the committee.
The vote was taken on Senator Howe's
amendment-yeas, l6; nays, 40.
Yeas Anthony, Buckingham, Chandler,
Con king, Cragin, FentOn, Ferry IConn.l, Ere
1inghuySen, Hamlin, HOWe, Jones, Morrill
[@e.l, Morrill, lVt.l, Stuart, Sumner, Wad-
leigh-l6.
Nays-Alcorn, Allison, Bogy, Boreman,
Boutwell,, Brownlew, Cameron, Carpenter,
Cooper, Davis, Dennis, Ferry Mich.l, Flana-
gan, Goldthwaite, Hager, Harvey, Johnston,
Kelley, Logan, McCreery, Merrimon, Mitchell,
Morton, Norwood, Oglesby, Patterson, Pease,
Pratt, Ramsey, Robertson, Sargent, Salisbury,
Scott, Spencer, Stevenson, Stockton, Thur
man, Upton, West and Wright-i0.
Senator Buckingham offered substitute
for Senator Merrimon's amendment, that che
finance committee be instructed to report a
bill to provide for free banking and for fund
ing legal ender notes into United States bonds
and the redemption of, the Unitedi states
bonds in legal-tender notes. Rejected.
The question then recurred on the amend
ment of Senator Cameron for the repeal of all
laws restricting the amount OF the national
bank currency.
Senator Morton said the senate was not full,
and he moved to adjourn.
The motion was adopted, and the senate
then adjourned.