Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1874-05-21

Il
after the finance and civil rights bill
were disposed Of:
Resolved, That the Committee OF
Appropriation be and hereby are in
structcd to report amendments to tn,
river and harbor bill, making appro
priations for completing the survey
and estimates for each improvement
recommended by the Select Commit
tee on Transportation, in the foul
routes indicated In their report.
The resolution was ordered to Ii,
on the table and be printed.
The Senate then proceeded to tn,
consideration of the finance bill.
Mr.. Sherman argued that free bank.
| ing would be fatal unless accompanied
! with a provision for coin redemption
He opposed an exclusive greenback
currency as too rigid in character, %
it could only be paid out for govern
ment dues, and because the abolition
of the national banks would save the
governments $l3, ,OOO,O 600 interest annu.
ally, it would lose to government $751;
600, 600 now collected of them. He
| explained the provisions for redemp.
tion in the bill and said that without
them he would never vote for free
banking. He asked the Senate to con.
slider the bill as whole and not tear
it to pieces.
Mr.. Logan argued that the bill wal
really measure of contraction instead
of expansion.
Mr.. Scott called up the amendment
of the Finance Committee presented
by him yesterday.
Mr.. Schurz opposed it, declaring
that the banks are required to keep .
reserve for the purpose Of paying de-
positors should they demand it, and
that that the reserve should be in the
currency Of the country. Gold 10 not
currency at this time and had no busi-
ness in bank reserves. Amendment
rejected-yeas l6, nays 81.
Mr.. Wright offered an amendment,
making the proportion Of greenbacks
to be retired to the national currency
issued twenty-five per cent, instead OF
fifty, as proposed by the bill.
Mr.. Chandler declared it as his opin-
ion that the amendment was designed
to kill the bill, and said il il prevailed
he would move to table the bill.
Mr.. Wright said he offered it in the
spirit of fairness, and with the hope of
agreeing on the bill.
Mr.. Howe opposed the amendment.
Mr.. Morton would vote for the
amendment, though he opposed the
retirement of any greenbacks, not be-
licving that the proper step towards
the return to specie payments.
MIR. Sherman opposed the amend
ment, as calculated to bring about f.
nancial ruin.
Pending discussion, Mr.. Anthony
moved an executive session.
Mr.. Sherman gave notice that to-
morrow he would ask tho Senate to
remain in session and finish the finance
bill.
SENATE.
WASHINGTON, May l4-At the frat
roll call this morning, only fourteen
Senators was present.
subsequently withdrew the motion
for second roll call, which showed .
quorum present.
Pratt, from the Committee ON PEN
sions, reported adversely on many ap-
plications of soldiers during the war
of 1872, for the reason that the major
ity of the committee authorized him to
report favorably on the House bill
providing for pension of dollars
per month for the surviving soldiers
of the war of 1872, and for their wild.
| ows.
AT the expiration of the morning
hour the Senate resumed the consid-
Grafton Of the finance bill, the pending
question being Wright's amendment
to make the proportion of legal tend.
ers retired as new national bank
notes are issued, 25 instead Of so per
cent. The amendment was agreed to
80 to "a.
Mr.. Chandler, in accordance with
notice given yesterday, moved to table
the bill. Rejccted-yeas 10, nays 35.
Mr.. Wright moved to amend by max
| ing the rate of interest of the gold
bearing redemption bonds proposed by
thcbill 4 Is instead offs per cent. Agreed
to-yeas -, nays Is.
He also moved to make the time for
the redemption of these bonds 10 in,
stead of Is years. Agreed to--3l to
l6.
He then moved to make the date fol
redemption of specie payments, by
means Of these bonds, January 1873
instead of 1877. Agreed to without
division.
Mr.. Conklin moved to strike out alI
after the enscting clause, and insert /
provision for the redistribution oI
forty-aix millions national bank cur.
rency.
Mr.. Merrimsn offered an amend
ment in the form Of substitute em.
bodying the substitution OF green.
backs for national currency, the re-
moyal of the tax on State banks. the
payment of customs dues In green
backs, and various projects.
After some discussiOn ON points ol
order, Mr.. Conkling's 8 amendment wal
| rejected-29 to 81.
Mr.. Merrimon's substitute was then
reiected-4O to 8.
Mr.. Wright moved to insert thu
word ''shall' instead Of "may" in ths
clause authorizing the Secretary Of thu
Treasury to reissue United States
notes to be redeemed after July lst
1878, as provided in the ninth section
] Agreed to--25 to IA.
Mr.. Conkling again offered Al
amendment for the withdrawal o.
forty six millions from the States hav
ing an excess Of national bank circu
lation, and the redistribution thcreo
to States having less than than the i,
proportion. Rcjected--2S 10 2S.
Several other amendments were of
fcred and rejected.
The bill then pssscd--e5 to l9--a'
follows.
leas-Alcorn, Allison, Bogy, Car
penter, Dennis, Ferry Of Mich, Gold
thwaite, Harvey, Howe, Johnston, Lo-
gan, McCrecry, Mcrrimon, Mitchell,
Oglcsby, Patterson, Pratt, Ramsey,
Ransom, Spencer, Sprague, Upton,
Window aud Wright-25.
Nays-Anthony, Boutwell,, Buck
ingham, Conkling, Cooper, Davis, Ed
munds, Fenton, Hagcr, Hamilton, Md.
Hamlin, Jones, Morrill,, VI, Sargent,
Scott, Sherman, Stewart, Thurman
and Washburn-l9.
Paircd-Gordon, Borcman, C0nOycr
Brownlow, Ingalls,, Morton, Pease and
| West in favor. with Bayard. Saulsbu.