Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-02-13
CONGREssIONA al.
Senate Stiil Debating Currency
Distribution.
Initiation incidentally Discussed.
House Passes Fortikcativn Bill.
Estimated Deficiencies.
SENATE.

WASHINGTON, Feb. 12.-Mr. ingalls,
presented the credentials of James s. Har-
vey, elected United States Senator for
KaIisas; and Mr.. Harvey was sworn in.
Mr.. Alcorn of Mississippi presented the
credentials of III. II. Pease, elected Senator
of the United States from Mississippi Alr.
Pease was then sworn in.
south Carolina.
Mr.. Patterson presented resolution of
the Legislature of his State, in favor Of the
passage of the civil rights bill by Con-
gress. Refersed to the judiciary Commit
tee. Mr.. Patterson said that on the propO-
sition of the resolution in the Legislature
the yeas and nays were called, and it was
unanimously adopted, the Democrats voting
with the Republicans.
Currency Distribution.
The morning hour having expired, the
Senate resumed consideration Of the bill
to equalize the distribution of currency,
the pending amendment being that OF Mr..
Merrimon to insert 10 in place of %.
After debate, Mr.. Merrimon said if Con-
gress would allow an increase in the vol
ume of currency he would yield the point
he was contending for, but not otherwise.
He would like to see the volume of curren-
CIV increased a hundred million dollars if
possible. He believed the temper of the
Senate was for an increase, and for the pur-
pose of testing the question he wonld with
draw the amendment pending, and move
the following as a substitute for the bill as
reported by the committee: Strike out the
enacting clause of the bill and inserts:
''That SO, 100000 in notes for circulation
shall be issued on national banking assOci-
ations now organized, or which may here
after be organized, in addition to the pres
ent circulation. under the same rules,
regulations and limitations as now pre-
scribed by law"
Mr.. Sherman appealed to Senators not to
endanger the bill, which was intended as
one for local relief by tacking on to it the
great question of imitation. Let that ques-
ton be met fair and square and decided.
1t was of great importance, and would de-
termine the prosperity and happiness of our
country. He was opposed to any increase
in the currency, and the question of inha-
tion or not could be determined once for
all as soon as the naval appropriation bill
was disposed of. But now he hoped such
a bill would pass as it came from the COM
mittee, that relief might be afforded those
sections needing 1t.
s5O,OOO, zoo.
Mr.. Wright said he was opposed to the
substitute of the gentleman from North
Carolina. (MeITimOn,) as it allowed banks
already organized to take up the increase,
and it would not. therefore, relieve the
South and West. He (WrighD moved .an
amendment 10 the bill as reported by the
Il, Il.
five7 and insert '.fifty," so that the amount
of circulation to be withdrawn and re-
issued should be fifty instead of twenty-five
millions, and upon that question he asked
the yeas and nays. He said if there was tC
be an increase in the currency, he would
prefer TO see that
Increase OF GreenbacIxs,
and not in National Bank notes.
Mr.. Logan said if the majority Of tho
Senators on this floor wanted contraction
let there be vote. Those who favored eX
pansion would acquieSce in the result and
there the fight would end. But, if on the
other hand, majority wanted an increase
let them have it. He wanted no deception
in this matter, and hoped the friends o
more currency would stand by this PROPOSE
ton for moderate increase. 1t would bC
an entering wedge.
Mr.. Ferry, of Michigan, agreed with tn
Senator from Illinois (LOgan) and hope,
the friends Of moderate increase woul,
stand together and settle the question as L
whether or not We are to have more curren
cy. He was opposed to taking single dol
lar from New England. Let them hav
their money, but give more to the Wes
and South. The panic had not ended. 1t
blaze may have been extinguished, but
still lsmouldered, and was
Ready TO Break Out Again.
He was not 20 be frightened from his posi-
tiOn By threats that the substitute will xii
the bill, and lie hoped the friends Of in
crease would stand firm and make this
| test question.
Pending discussion, the Senate wen
into Executive Session and soon after ad
journed.