New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-05-15

Messrs Lewis, Brownlow, ingalls,, Norlcood Ransom
affirmative, were paired with Messrs. Buckine CHAM
Ferry Comm. Frelinghuys Kelly, stockton. Boutwell,
and Wadeigh, who would have voted in the negative.
Mr. CHANDLER (Rep, Mich) said he gave notice
Yesterday that the amendment just adopted should
he agreed TO- he would lay the bill the table
He saw no use in wasting time now and therefore made
that motion. Rejected-Yeas, 10; Nays. IS.
Mr. WRIGHT (lep., Iowa. moved to amend by insert
ing In the sixth line Of the eighth section the words
"in le1cess OF the highest outstanding volume thereof
at any prior to such ISSUE" SO that clause would
HHa within so days after circulating the Of 81 oOO
ton. under hi, the highest outstanding thereof
prior 70 Sa nSap Of G T So ss sos sf's,
per cen,um o circulating notes so suei, &c
Nj, WRIGHT moved to amend by striking ont s Der
cent as the rate OF interest which bonds Issued TO
deem present United states after January 1877
should bear, and insert in lieu thereof A per cent
Agreed to-Yeas, 80; Nays Is.
He moved TO strike out Is years the time when
such bonds should be redeemed In coin insert in lieu
thereof 10 years. Agreed to-Yeas. 81; Nays l6
when United states notes may be redeemed In the bonds
above mentioned, and insert In lieu thereof July l. 1879
Agreed 10 without "A division.
Sir. CoNKLING rep, n. " moved to strike GU. all
after the onactng clause and insert In lieu thereof the
bill reported by the Finance Committee Feb last
providing the withdrawal OF National bank currency
from those States having an excess to the OF
instead OF t5 0O0 the named In the
bill and the redistribution Of that amount TO those
States having less than their proportion He said that
under this bill amount would be taken from New
York. but would rather have IT 20 than imitation
He hoped this substitute would be adopted, and the
financial trouble Do settled.
Mr.. BUCKINGHAM rep, Conn., said the adoption OF
the substitute would take large amount from his state
but would prefer II to the bill. with tho ndments
MIR SHERMAN said the majority today by Its action
had the greepbacks Tney had put of tbe
time when they might be redeemed TO 1878 and had
reduced interest the bonds with which were
to be redeemed TO n per cent Senators well know that
bonds bearing that rate OF interest could sold at
par in coin.
Mr. ALLISON Rep., Iowa) said he had voted with the
majority and did not believe that vote would depre
ciae the greenbacks lie believed that by 1875 the time
named in the BILL the cent bonds would be at par
in gold. He believed that ~ per cent bonds would
bring par gold 1t not for the fact that there
were $4,000 900 OF five per cent bonds yet undsposed
OF. or course one would purchase those bonds
lower rate OF interest when others OF higher rate
could be obtained.
Mr.. MERRIMON (Dem, N. c. submitted an amend
ment, IN the nature or substitute, providing for the
retirement and cancellation OF all National Bank notes
after July 1875, and directing the Secretary of the
Treasury ~ Issue place every hundred dollars ma
tOha bans notes 30 Cancelled, one hundred dollars
greenDacks, which shall be used either for the
lon oi tne puDnc debt or the payment OF current eI
penses OF tbe Governments repeating all laws imposing
tax on stae banks greater than that now Imposed on
national banks providing that hereafter so per cent Of
the duties on Imports may be paid IN United States
notes and that after JAN 1877 United States notes
be exchanged for tenyear Der cent gold bonds
and that the Secretary OF the Treasury NAV reIssne
notes exchanged that after jan l. Uuted
notes shall DO redeemed In coin, ana for thar nnrnosa
from surplus revenues OF the United States 10 nre
pare specie resumption, or, II tho surplus
are not sufficient to allow this amount to be reservi
the Secretary order to supply the deficiency .o
any part OF of nye per cent bonds and
after the ~ DAY Of -~---, " the yeay -, fraQ.