Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-02-19

papers? The Chicago Tribune, which sup,
ported Greeley in connection with the oeh
ator from Missouri. and ths Chicago Tunes
which agreed with everything Senator
Sehurz said. He (Logan) supposed u aii
great papers were on the side of his frleha
that he (SchurZ) must be a great man.
This greatness favored monOpolies. Mo
chanics and farmers must not have natlonai
banks; they must be left for great men, IKE
his friend. [Laughter.l -
Mr.. Schurz said he had not opened ms
lips on the question of National Banks.
Mr.. Logan said the gentleman said that
all papers which had sense supported his
side, thereby implying that all others'Were
fools.
Mr.. Schurz said he did not mean that
none except those supporting his side mad
sense. Ne had laid down line Of policy
| for himself, and those who went with hlIn
he thought had more sense than those VINO
did not.
Mr.. Logan. 1 am sorry the Senator's
opinion of himself is not. appreciated Dy
the country. Oaughter.)
Mr.. SchlIrz. / am glad to know the Sen
| ator's opinion of himself is appreciated by
the country. (Renewed laughter) de
did not think there was the least OCCASION
4
read the market reports. If the Senator
took ofIense, those reports were re-
| sponsible, and not he himself. (Laughter.)
Morton said there had been partial re-
viyal of business, attributable to the fact
that twenty-seven millions of legal tender
reserve had been distributed, but business
of the country could not be revived fully
on the old volume of currency.
The question being on the amendment
| of Mr.. Scott, providing for redemption Of the
whole volume of national bank currency in
specie or interest bearing bonds Of the Uni
| ted States, Mr.. Cameron said the Senate
was not full enough to-day, and me would
rather have vote taken tomorrow at some
hour to be fixed. He therefore moved that
the Senate proceed to the consideration of
executive business. Rejected.
The yeas and nays were taken on Mr..
ScOtt's amendmentand it was lost. Yeas
%, nays so, as follows:
| Yeas-Anthony, Boutwell,, Buckingham,
Chandler, Conkling, Cooper, Cragin, Da-
Wis, FentOn, Ferry of Connecticut, Freling-
huysen, Gilbert, Hager, Hamilton of Mary
land, Hamlin, Jones, Kelly, Morrill, of
Maine, Morrill, of Vermont, Sargent,
Schurz, Scott, Sherman, Stevenson, Stew
art, Stockton, Sumner and Wadleigh-2S.
| Nays-Alcorn, Allison, BOgy, BOreman,
| Cameron, Carpenter, Clayton, Dennis,
Ferry of Michigan, Goldthwaite, Harvey,
| Howe, Johnson, Logan, McCreery, Merri-
mon, Mitchell, Walton, Norwood, Oglesby,
Patterson, Pease, Pratt, Ramsey, Robert
son, Spencer, Thurman, Upton, West and
Wright-30.
Mr.. Flanagan, who would have voted
in the affirmative, was paired with Dor
sey; Hitchcock, against the amendment,
paired with Edmunds; Gordon, against il,
with Bayard; Hamilton of Texas, in favor
of it, with Ingalls,; Salisbury, in favor of
it, with Ransom; BrownlOw, not in his
seat on account of indiSpositiOn, having
left the Senate with the understanding
that there would be no vote on the queS-
tiOn to-day.
Mr.. Howe moved his amendment, above
reported, as an amendment to that of the
gentleman from North Carolina (MerTi
mOn).
Mr.. Thurman said the effect of this
amendment would be TO compel the gov
ernment to pay nearly two million dollars
erannum interest for the safe keeping of
| a little more money.
Mr.. Howe withdrew his amendment as
an amendment to that Of Mr.. MeTimOn.
and offered it in connection with that of
Mr.. Cameron for an unlimited issue of
bank currency, as a substitute for Mr.. Mer-
rimOn's amendment, which instructs the
committee to report bill increasing the
volume of national bank currency TO $780,
100000.
The question being stated by the chair,
Mr.. Howe said the last change of front by
him was a mistake, and he would therefore
| 1ra -
to that Of the gentleman from North Caro-
lima (MeTimOn.)
Mr.. Boutwell, said the amendment con-
tanned in it principles which would bring
this country TO bankruptcy.
Mr.. MoTtOn-Will the gentleman state
how?
Mr.. BOutwell.-It is the process by
which You increase demand for legal ten
ders and diminish supply. He thought
the great error of the present moment was
the tendency of men 10 rely on the princi-
Piles of other countries which are not appli-
cable to ours. He was disposed to look az
things around us and take counsel Of what
was within our knowledge. We had in
this country, bearing the circumstance that
our paper money is not redeemable in coin,
a currency as good as any in the world.
Mr.. Hitchcock moved to adjourn; lost.
Mr.. Thurman hoped the whole subject
would be recOmmitted without any instruc-
tion to the committee. The subject was SO
complicated, and there was such diversity
of opinion that it would all be unsatisfacto-
nv in the end If the committee should be
instructed. He thought the best thing to
do was 10 pass the bill as it came from the
committee.
The vote was taken on House
amendment, as follows: yeas, MesSrs. An
thOny, Buckingham, Chandler, Conkling
Craein, Fenton, Ferry, of Conn.,, Freling-
huysen, Hamblin, Howe. Jones, Morrill,,
of Me-, Morrill,, of VT, Stewart, Sumner,
and Wadleigh-l6.
Nays-MessIs. AlcOrn, Allison. BOgy,
Boreman. Boutwell,, Brownlow, Cameron,
Carpenter, Cooper, Davis, Dennis, Ferry,
of Mich, Glanagan, Goldthwait, Hager,
Harvey. Johnston, Kelley, Logan, Nc
Craerv. MerrimOn, Mitchell. Martin, Nor
wood, OgIesby, Patterson, Pratty, Ramsey,
Robertson, Sargent, salisbury, Scott, Spen-
eer, Stevenson, Stockton Thompson, Tip
ton, West and Wright-40.
Mr. Buckingham offered a substitute for
Mr.. MerTimOn's amendment that the
Finance Committee be instructed to report
a bill to provide for free banking and for
funding legal tender notes into United
States bond, and redemption of United
States bonds in legal tender notes. Re
jected.
The question then REQUIRED on the
amendment of Mr.. Cameron, for the repeal
of all laws restricting the amount of na-
tiOnal bank currency.
Mr.. Morton said the Senate was not full
and he moved to adjourn. Motion adopted.
The Senate then adjourned.
HOUSE.
| WASHINGTON, d. c., Feb. 1S.-Mr.
Sawyer asked leave to report from the Com
mittee on Commerce bill to extend until
IL L q IL. ..E