Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-01-30
HOUSE.
National Bank Reform.

WASHINGTON, Jan. 29.-Mr. MAYNARD
from the Committee on Banking and Cur
rency, reported bill to amend the several
acts relating TO National currency and TO
establish free banking. The bill was read.
See text Of bill in full elsewhere
After discussion as to the disposition to
be made Of the bill the House refused to
recOmmit to the Committee on Banking
and Currency as desired by the Chairman
Of that committee and it was sent to the
Committee Of the Whole, with the under
standing that it be called up for discussion
in two weeks.
Mr.. Maynard also reported bill limiting
the amount of United State notes in circu-
latiOn to four hundred million, allow
irg their exchange into convertible 3.65
bonds. Referred to Committee of the
Whole.
Mr.. Maynard also reported resolution
instructing the Committee Oh Banking and
Currency to investigate the affairs of the
Ocean National Bank of New York, and
especially whether Theodore NJ. Davis, its
receiver, and the other officials, have been
guilty of misconduct, with power to send
for persons and papers and to appoint a
subcommittee to take testimony in New
York and elsewhere. Adopted.
Postal Banks.
Mr. Maynard also reported adversely
| upon bill to establish and maintain a
national savings depository as a branch Of
| the Postoftice Department. Referred.
Mr.. Phelps, from the Banking Commit
| tee, reported a bill authorizing the Citizens
National Bank Of HagerStOwn, Md, to
| change its location to Washington City,
/ I. "A
| 100000, and to change its name to that Of
the Citizens National Bank of Washing
| ton, ID. c. He explained the objects Of the
| bill, and stated that it did not authorize
| any increase Of circulation.
| Without diSpOsing of the bill. the House
went into Committee of the Whole. Mr..
| kellogg, of Connecticut, in the chair, and
resumed consideration of the
Army Appropriation Bill.
Mr.. COburn, chairman of the Military
| Committee, continued his argument III
support of such reduction of the army a:
the bill contemplated. He showed that il
| would not be necessary to muster a man
because the natural depletion of the army
| every year, by death, expiration of service
and destTtiOn, amounted TO over one hall
of its whole strength. The diminution o
officers year was IS. 1t was only neces
sary to keep down enlistment and top Of
the extraneous matters in the Quartcrmas
ter's Department and other branches Of tn,
service.
Mr.. Hawley of Connecticut favored
well considered bill TO reduce the army af
ter a systematic manner.
Mr.. NeSmith, member of the Militar,
Committee, protested against a reduction
of the army, which he said was got up il
accordance with the views Of the
Humbug Peace COMMISSIONER,
whose idea of managing the Indians wa
by preaching to them Christ and Him cru
Gifted. If God Almighty had gone preach
ing the gospel in that wilderness He wOuiC
not have kept the hair on His head ?.
hours. Oaughter). He defended tn,
frontiersmen against the aspersiOns usual,
made against them, and declared that tn
first effective missionary the Indians eve
had was Miles Standish.
Mr.. Niblack said if the House desire,
the reduction of the army, it should pass
bill to that effect and thus get rid OF TIN
expenses which under the existing Law
must be and would be made. But th
mere Withholding OF money without som,
corresponding law reducing that branch O
the public service, was not economy, bu
simply
Making n Deficiency.
Mr.. Randall cOncurred in the argumen
as to the necessity of protecting the iron
tier against the Indians. But for that pur
pose troops should he Withdrawn from tn
South where they are now used for the pur
pose of crushing out the liberties of tn
people.
Mr.. Beck argued that the expenditures 0
the Government ought not to exceed $3.50,
100000 year, and that the revenues wer
large enough for that, if the Secretary o
the Treasury would only stop paying th,
principal Of the public debt.
The discussion was further participates
in by MeSsrS. Whittehorne, Kendall, Nc
COrmack and AlOTey.
Without coming to a vote, the commit
tee rose and the House, on motion of Mr.
Sener, directed the Centennial Committee
TO which had been referred thesqueStiOn G
completing the'WashingtOn monument, T.
inquire also as to the propriety of complet
ing the unfinished monument to the me
mOry of Mary, the
Mother of Washington
at Fredericksburg, Va.
The House then took recess till 7:30 T
NJ, the evening session to be for con
sideration of the bill codifying and revis
ing the statues.