The Republican journal. [volume] (Belfast, Me.) 1829-current, 1874-03-26
The Currency Question In Congress.
Tho Amount Fixed at Four Hundred
Millions

|
Millions.
On Monday the vexed question Of the
amount of legal tender notes to be put in
| circulation was settled in the House OF
Representatives. We copy the proceed
ings-
| Mr.. Dawes moved to suspend the rules and
discharge the Committee of the Whole from the
| 800 900 900 bill in order to have 1t considered
in the House now.
| Mr. Maynard, of Tenn, opposed the molion'
| submitting that the question was involved III
| the general bill reported from the Committee
| on Banking and Currency.
Mr. Butler. of Mass, asked Mr.. Dawes
| whether he would admit amendments.
Mr. Dawes replied that he was instructed by
the Committee on Ways and Means to admit
amendments that would reduce the sum below
| S400, 900 900 but not to admit amendments that
would increase the sum above 800 100000.
| Mr.. Butler remarked that he did not like to
vote or act in a straight jacket.
Mr.. Dawes replied that his colleague would
NOT be put in straight jacket because the mat
| ter would be within the control of a majority of
| the House.
| Mr.. Cox. of New York. asked Mr.. Dawes
| what he intends to do with the reserve already
out.
Mr.. Dawes replied that the amendment he
| proposed to offer was that hereafter the total
| amount of United States circulation at any
time shall not exceed 1856, 900, 900 and directing
| the Secretary of .tae Treasury to withhold from
| circulation and cancel whatever amount of such
notes is now i'll circulation beyond that sum as
soon as il can he done consistently with the eX-
| igencies of the Treasury.
Mr.. f. II. Roberts indicated an amendment
| he proposed to offer liking the sum at S3S2. :
900 900, but Butler objected to further debate.
\ motion to suspend the rules was seconded
| by majority of the House. and then the rules
were suspended by vote of LOS to "a.
| Mr.. Roberts then offered his amendment pro
| ylding that the amount of legal tender notes
issued or TO be issued shall be and never exceed
| $3.50 900 900
| Mr.. Dawes then offered the amendment al
| ready indicated by him, and moved the previ-
Gus question.
| Mr.. Cox desired to ask the speaker Il qtc>-
| lion. but was met by numerous calls for order.
| Mr. Cohurn of Indiana desired to oter an
amendment. OF at least have it read.
| Mr.. Butler objected, stating. however, that
| he was in favor of Mr.. Coburn's amendment
bat that having been put II in straight jacket
| he proposed to go on in that condition.
| Mr.. Randall of Pennsylvania asked Mr.,
| Dawes, whether in case the bill should pass
| fixing the amount at 800 0O00 600 he would adj
/ nit an amendment directing the S1S,000 900 not
Vel issued 10 be used in liquidation of the pub
| lie debt
Mr.. Dawes was about to reply. but Butler
| objected.
ne prev question WAS lHtll seconded.
| l22 to 20, and the House proceeded to vote by
| yeas and nays on the adoption of Dawes amend
ment as amended by Mr.. Roberts amendment
and it was rejected. Yeas, 20, nays 12l.
The question was taken Oh Roberts amend
ment and it was rejected IeaS "A, nays l-2.
Mr. Cox moved to lay the bill on the table.
Negatived without yeas and nays.
\ Vote was taken ordering the engroSs ment
OF the bill. and il was carried. yeas 49,. NAYS 30.
Mr.. Dawes then moved the previous question
| on the passage of the bill.
Mr.. Butler moved to reconsider the last vote,
and said he desired 10 say few words in advo-
cacN of that motion. Calls of order.
Mr.. Dawes made a point of order that the
motion to reconsider was in itself unbeatable
| The Speaker sustained the point of ORDER and
| then Mr.. Butler withdrew his motion. and the
| previous question was seconded and the bill was
| then passed, yeas los; nays -. The following
| is the text of the bill;
| \ hill to fix the amount of legal lender notes
| at 800 900 5000.
! whether the amount of legal tender notes now
authorized by law to be kept in general circula-
ton, is S}56 900 900 800 900 900 is calculated
| 10 derange the business Of the country and I'M
settle values therefore. he it enacted. etc. that
The provisions of the law existing prior to the
passage OF the act approved April u, 1866, en-
titled an act 10 amend an act to provide ways
| and means TO support the Government. APPROX
Ell March 30, 1860, be. and the same are hereby
declared TO be III force, so as TO authorize the
issue of legal tenders of the United States 10
the amount of $500. 900. 900. to be kept in gen
era circulation, and the total amount of United
States notes issued, or 10 he issued shall never
exceed 800 ,000. 0ltu.