The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1874-05-15
CONGRESSIONAL.
WASHINGTON, May IA.
SENATE.

When the Senate was cSlleu 70 oluel
to day at | | o'clock, only thirteen mem
bers answered on the call OF the roll.
The Chair Mr.. Carpenter, read the
rule torbidding the transaction OF any
business without a quorum, and said
his attention was called to the absence
of so many Senators at the hour OF
meeting yesterday, when only four
were present, hence his course to-day
in calling the roll.
After the explanation that some
Senators were engaged on committee
work, and the statement by tue chair
that only motion /" adjourn was In
order, Mr.. Chandler made such mo-
ton, but Withdrew it at the request OF
Senators ard moved call OF the Senate.
The roll was again called and iorty
Senators answered, being a quorum.
Mr.. Pratt, from tie Committee on
Pensions, reported adversely on a large
humber OF petitions Of soldiers OF the
war OF 1912, and widows Of such sol-
diers for pensions, assigning as rea-
eon that the msjurity OF the Committee
directed him TO report favorably on the
House bill which provides for pen.
sion Of eight dollars per month to all
surviving soldiers o. the war OF 1872,
without reference to the time OF service.
Ii also provides for the widows OF such
soldiers.
The morning hour having expired,
the Senate resumed the consideration
of the finance bill, the pending ques-
ton being the amendment OF Mr.:
Wright, to strike out Fifty per cent"
as the proportion OF legal tenders to be
retired as the new National bank
notes are issued, and insert in lieu
thereof. twenty-five per cent.
Mr.. Chandler moved to lay the bill
on the table. Lost; yeas l9, nays 80:
Mr.. Wright's amendment was agreed
to. Yeas 80, nays "a.
Mr.. Wright moved 10 amend by IN
sertinr in the 9th line OF the Sth section
the words, "in excess Of the highest
outstanding volume thereof, at any time
prIor to such issue" 80 that the clause
would read, "aud within thirty days
alter circulating notes TO the amount OF
LOCO 900 shall from time TO time be
Issued, to National banking associations
under this act, iu excess OF the highest
outstanding volume thereof, at any
time prior to such issue, It shall be the
duty of the Secretary OF the Treasury
hurrs equal to twenty-five per centum
of the circulating notes 20 issued, &c.
Agreed to; yeas 30, nays %.
Mr.. Wright moved to amend oy
striking out the five per cent as the
rate OF interest, which bonds issued to
redeem the present United States notes
after January, 1877, should bear, and
iusert in lieu thereof tour and halt
per cent. Agreed to. Yeas 81; nays 10.
He next moved to strike out the fiji
teen wears as the time when such bonds
should be redeemed in coin, and insert
iu lieu thereof ten years. Agreed to.
Yeas 81 nays 10.
He mex. moved to strike ont January,
1877, as the time when United States
notes may be redeemed in the bonds
above mentioned, and insert in lieu
thereof January lst, 1878. Agreed to
without discussion.
Mr.. Conking moved to strike out all
after the enactlng clause and insert in
lieu thereof the bill reported by the
Finance Committee on the third o.
February last, providing for the with
drawal Of the Natonal bank currency
from those States having an excess tc
the extent of forty-six millions, tht
slm namelll the bill, and the iistri
button OF that amount TO those States
having less than their proportion. He
sad that under this bill large amount
would be taken from New York, but hi
would rather have it go than see intia
| ton. He hoped his substitute would
he adopted and the financial troubl,
would be ended.
Mr.. Merriam submitted an amend
meut in the nature OF substitute, pro-
yiding for the cancellation ot all Nation
al bank notes after July let, 1873, ant
directing the Secretary Of the Treasur.
TO issue in place OF every one hundred
dollars OF National bank notes go car
celled one hundred dollars in green
backs which shall be used either 10
the redemp plion OF the public debt o
the payment OF the current expenses O
the Government, and repeating all law
,muosing a tax on State bonds create
than that now imposed on Nationa
banks, providing that hereafter fit
per cent dulies on imports may lie pai
on United States notes, aud that afte
January |, 1877, United States note
may be exchanged fo- ten years fiv
per cent gold bonds, and that the Sec
retary OF the Treasury may relssu
notes 20 exchanged; tnat after Januar
/, 1878, Usited State notes shall be re
, deemed in coin, and for that purpos
: 81 100000 iu gold and silver col
! sha be annually reserved from the su
, plus revenues OF the United States
pre-, are Tor specie resumption, or
D surplus revenues are not sufficient
r allow this amount TO be reserved, h
J Secretary may, III order to supply tt
deficiency, sell sny part OF the one hur
d dred million OF FIVE per cent bonds. an
II after the - day OF - in the YET
q -, the fractional currency OF Il
e United States shall be redeemed in 81
y yer coin snd destroyed.
y Mr.. Conkliug inquired il the amen,
'e ment WAS in order.
d The Chair replied that it was, und
d the new rule recently adopted, slthoul
'r il vas an amendment in the third d
gree.
e Mr.. Morrill,, OF Vermont, raised
81 point of order against the substitute
= Mr.. Merriam that it WAS q reyenr
y. bill, as it proposed to reduce the Il
on banks and also provided for {
~ Gffv rant nj nuafnF