Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-03-31

ch VIC COinIHIItee on 1uOllc IanuS, and he
hoped the Senate would keep the bill before
it on the report of the Committee on Claims.
1t was a just one, and should be paid.
Mr.. Morton said the claim grew cut OF
the public lands, that committee was tic
proper one to act upon it, and to refer the
bill now 10 the Judiciary Committee would
he treating the Committee on Public
Lands with great disreSpect.
Mr.. Sargent said the amount invoiy ed
was about one and one-third million dol
lars and the Treasury was in no condition
now 70 pay such claim as this.
Mr.. Morrill,, of Vermont, objected to fur
ther debate and the bill was placed on the
calendar.
The Chair laid before the Senate letter
from the Secretary of War transmitting a
report of the Board Of Engineers who made
examination Of the bridge of the MiSsissip-
pi river at st. Louis. Referred.
Costs too Much 10 Investigate.
Mr.. Anthony, from the Committee on
Printing, reported back a communication
from the Secretary of the Treasury in re-
gard to the description of the fines, penal
ties and forfeitures on account Of violations
of the customs laws for the ten years end
ing June 80, 1873, and asked that the conf
mittee be discharged from further consider
alton of the motion to print it, and that the
document be referred to the Committee on
Finance. In making the report, Mr.. An
thony said it was an instance of the enOr-
nous cost of preparing documents in an
swer to resolutions of Congress. This doc
ument cost probably 5000 to prepare and
would cost $4,000 to print. 1t was referred
TO the Finance Committee.
The Chair laid before the Senate sundry
resolutions OF the Wisconsin Legislature in
regard to the improvement Of the MissisSip-
pi river and its tributaries and for increas-
ing mail facilities in that State, and for the
improvement of the Wisconsin river. Re
ferred to the appropriate committees.
The Finance Bill.
The morning hour having expired, the
Senate resumed consideration of the bill to
provide for the redemption and reissue of
United States notes and for free banking,
the pending question being on the amend.
ment of Mr.. Hamlin to strike otit the Ist
of January 1876, as the time for returning
to specie payment and insert January /,
1877.
Mr.. Morton raised the point that the
amendment was not in order at this time
After some discussion Mr.. Hamlin With
drew his amendment and the question re-
CURED on the motion of Mr.. Morton to
strike out the second section of the bill re-
ported by the committee which provides
that on the lst Of January, 1876, United
States notes shall be redeemed in coin ar in
interest bearing bonds,
Mr.. Pratt read from manuscript his views
in opposition TO the motion to strike out.
Mr.. Sherman argued in favor of retain
ing the section which he said was the most
important feature of the bill.
MeSsrs Morton and Ferry, of Michigan.
spoke In favor of striking out the section.
y vote was then taken on Mr.. Morton's
motion to strike out the second section and
it was adopted, yeas rs nays %, Cooper
voting Lay, Brownlow paired off.
air, Scott moved an amendment tb The
amendment of Mr.. Merrliaon for an in
crease in national bank circulation to the
extent Of fOrty-six millions, an additional
section providing that on the 1st day of
January, 1877, the Secretary Of Ll,e Treas
ury shall pay on demand, al the offices of
the Treasury of the United States and
Assistant Treasures at New York, Phiia-
delphia, Cincinnati, It, Louis. and New
Orleans, to any holders of United States
notes TO the amount of 500, or any multi
pie thereof in exchange for such notes, an
equal amount of coupon or registered
bonds of the United States, in such form
as he may prescribe, and of the donomina-
tiOn Of $50 or some multiple of that sum,
redeemable in coin 10 years after date oftheir
payment at the Treasury of the United
States, bearing per cent. interest. Re-
jected-yeas 6, nays 81.
Mr.. Frelinghuysen moved an amend
ment, that the surplus revenue of the
United States shall be used for the purpose
Of accumulating gold coin in the Treasury,
the Secretary of the Treasury being, never
theless, at liberty to sell such amount of
said coin as may be necessary in order to
meet demands for currency for which the
receipts of currency are not sufficient, and
authorizing the Secretary of the Treasury
to issue and sell all coupon or registered
bonds of the United States, not exceeding
S50,000,000, of the denomination of $50 or
some multiple of that sum, redeemable at
the pleasure of the United States after 20
years and bearing per cent. interest, the
proceeds of such bonds to be used to pur-
chase gold coin, which shall be employed
to redeem the legal tender notes; the Pres
ident and Secretary of the Treasury to find
such redemption after having accumulated
sufficient gold coin, the legal tender notes
so redeemed not to be re-isSued except in
exchange for gold coin at par; provided
that, if after the commencement of said re-
demption the government shall be unable
to redeem part of the legal tenders in gold
coin, the Secretary of the Treasury may
issue the requisite amount Of bonds Of the
same character as the others and redeem
such part with those bonds. Rejected
yeas 10, nays 20.
Mr.. Morton moved TO strike out the 4th
section Of the bill which provides for the
retirement of United States notes in rates
of 20 per cent. of the additional National
Bank notes authorized by the bill.
An Awkward Ruling.
Mr.. Sherman said he desired to offer an
to the section before a vote
was taken to strike it out. Such an amend
ment under the old usageS of the Senate
was in order before the motion to strike
out, but the chair this morning having |
ruled a similar amendment of the gentle- |
man from Missouri (Hamlin) out of order. !
he (Sherman) thought il erroneous. and that |
it would lead to complications hereafter.
The section of the bill proposed to be |
stricken ont provides that the payment of 20 |
per cent of lesal tenders should be in fur
ther reduction of the S3S2, 100000, pro
yided for in the previous section. The |
Senate however struck out the three hun |
lred and eighty-two millions in the 1st sec
ion and inserted S400,0O0,0O0 ard now he |
(Sherman) would move to insert $500, ,OOO.- |
DO0 in the fourth section in place of S3S2,-
10000, but couldn't do so under the |
ruling of the Chair, as the motion to strike |
put the whole section was pending.
The Chair said he saw the difficulty but /
mad made the ruling in accordance with
he rules of the Senate, as he understood !
hem.
Mr.. Hamlin said the ruling of the Chair
would reverse the practice Of the Senate for
many years past.