Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-02-10
Senate Spends Another Day on
Bankrupt Bill
Thurman's Move to Abolish Reg
listers Defeated.
$4,000 for East Tennessee Uni
verSity.
Southern Water Routes in the
House.
st. Philip and the Great Western
Canals.
Idle Debate about AdjOurning
May 10.
SENATE.

SENATE.
WASHINGTON, Feb. 9.-Mr. Sargent
presented the credentials of John S. Hager,
Senator from California, who was sworn
in.
Mr. Ramsey presented a petition for the
improvement of the Red river of the North.
Referred.
Mr.. Wright presented Joint resolution
OF the Legislature Of that State praying for
the passage of House bill in relation to the
Des Moines river land grant. Referred.
Sherman Reconsiders His Reeonsid.
GRAFTON.
Mr.. Sherman said on Friday last he made
a motion TO consider the vote by which
House resolution ordering an investigation
into the management OF the affairs of the
government Of the District of Columbia,
was passed. While he still thought the SEN
ate should not participate in that investiga-
ton, as the conduct of District officials
might come before the Senate in the future,
yet at present he would withdraw the mo-
tiOn for reconsideration. No objection
being made it was withdrawn.
Mr.. McCreery at his own request was ek-
cused from further service on tie Commit
tee on Territorie: and Senator Hager was
appointed.
BoutwelI's Banking Bill.
Mr.. Boutwell, introduced a bill amenda-
tory Of the national currency act. Re
ferred. The bill contains two sections, one
prohibiting national banks from paying or
receiving interest on deposits, and the 9TH
er requiring national banks to keep seven-
ty-five per cent. of their reserves at home
The following processes to be full text:]
BE it enacted, etc, that il shall not be
lawful for any banking association, organ
lied under said acL or under the act amend
atory thereof, to pay interest on deposits to
banks, banking companies or banking as
sociations, nor shall any such banking as
sociatiOn receive interest upon money de-
posted with any bank, person, party or
corporation; and a banking association
guilty of a violation of the provisions of
this act shall be liable TO penalty equal
to four times the amount of interest so
paid or received, to be recovered in any
court of competent jurisdiction; and it
shall be the duty Of the Comptroller Of
Currency to cause proceedings to be insti-
tuted for the recovery of the penalties
aforesaid and for the benefit Of the United
States.
Section 2. That not more than one
fourth part of the amount of lawful money
of the United States, that any such aSsoci-
alton may be required to have on hand as
is provided in such acts, shall consist of
balances due to such associations as is
available for the redemption of its cir
culating notes from banking associations ap-
proved by the Comptroller Of Currency
SIS, ZOO for East Tennessee University.
u, s,ey Il, t.
nessee University, appropriating $4,000 to
compensate that institution for property be-
longing to it, occupied aud destroyed by
Federal troops during the late war; was
taken up and passed by yeas, 40; nays, 20.
The Bankrupt Bill.
The morning hour having expired, the
Senate resumed consideration of the Bank |
rupt bill, the pending amendmet being that |
of Mr.. Thurman to abolish the office of |
Register in Bankruptcy, and authorizing |
the District Court TO dispose of all suits in |
bankruptcy, and to appoint Master Com |
missiOners when necessary TO perform the |
duties of Registers.
Mr.. Thurman in advocating the adoption. |
of the amendment, said the effect would be |
to greatly decrease the cost in bankruptcy |
cases.
The chair laid before the Senate a mes
sage from the President of the United |
States, inclOsing communication from the |
Governor Of the State Of New York formal |
ly presenting a bronze statute of George |
Clinton for the Old Hall Of the House of |
Representatives.
Mr.. Salisbury favored the adoption of |
Mr.. Thurman's amendment to the bank |
rupt bill.
The amendment was rejected.
bir. Thurman offered an amendment au- |
thorizing Notaries Public to take depoSi- |
tiOns in bankrupt cases.
Mr.. Edmunds said the committee had no |
objection to the amendment and it was
adopted.
Mr.. Merrimon offered an amendment |
giving the assignee authority to bring suit |
to recover debts in State Courts, for all |
sums under five hundred dollars.
Mr.. FrelInghuysen moved to amend the /
amendment by inserting the words ''unless |
the court having charge of the estate shall |
order to the contrary" which was accepted |
by Mr.. Merrimon, and the amendment, as
amended, was agreed to.
10 Give State Courts Concurrent Ju-
risdictiOn.
Mr.. MeTriman offered an amendment
GlYiil8 10 Tie courts OF RECORD OF me sew
eral States having superior jurisdiction and
jury trials, power in the bankrupt law the
same as United States Courts; providedthe
parties should have the sameright Of appeal |
for the removal of causes to the highest |
court of review, as may be allowed by
State laws.
a Bill 90 Make War Mortgages valid.
Mir. Gordon introduced a bill TO amend
the internal revenue laws. 1t provides that
all provisions of law heretofore existing in
relation TO the imposition of stamps upon
written instruments, and all penalties inn
posed by law for the omission or failure TO
stamp such instruments as bear date prior
the establishment of the revenue districts
in States engaged in rebellion, be repealed.
1t further provides that the time allowed
for stamping deeds, mortgages, and other
papers, which bear a date since the eStab-
lishment of said revenue districts, be ex-
tended TO - day of 1877. Any Judge or
justice of the peace in said inSuTrectionary
States may attach stamps as heretofore re-
quired on said documents, and the Com
missioner of Internal Revenue is authorized
to furnish stamps for such purpose to the
order of the president or cashier of any
National Bank upon certificate Of deposit
on such bank The bill is Drefaced nv n |