Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-03-28
CONGR Es SIGNAL.
The Senate Get the Currency Bill
into a Snarl,
And Adjourn without UntanS-
ling Lit. @
MOOted Donation of Land III
Nashville to Fisk University.
SENATE.

4
canal around Niagara Falls. Referred.
Mr.. Lewis moved that when the Senate
| adjourn to-day it meet Monday next.
Agreed to.
Mr.. Window from the Committee on
Public Lands reported fayorably on a bill
TO create the land district of Bismarck IN
the territory in Dakota. Placed on calen-
der.
Bill to remove the political disabilities
of Thos. Hsrdiman of Georgia, and VIM:
L. Cabel of Texas were taken up and
passed.
| Mr.. Allison submitted a resolution, in
structing the Secretary of War 10 transmit
to the Senate the report of the Board OF
Engineers who made examination for the
bridge over the Mississippi River a st.
Louis. Agreed to.
A General Sweep
Mr.. Davis submitted q resolution in
structing the Secretary of the Treasury to
| furnish the Senate with statement show
ing the amount due the government from
paymasterS, quarteHnasterS, commiSsarieS,
collectors OF internal revenue and customs
officers and officers Of the Freedmen's Blu
reau since Jan. 1, 1865, together with the
names of such delinquenis, from what
| States they were appointed and if suits are
now pending to recover the amounts due.
Laid on table and ordered TO be printed.
The Currency Tangie.
The Senate then resumed consideration
of the bill 10 provide for the redemption
| and reissue of United States notes and for
| free banking, the pending question being
on the amendment of Mr.. Morrill,, of Yer
mont, to the first section OF the bill prOhib-
| iting the use of any portion of the so, 0O0,-
| 600 authorized by that section, as amended
| by Mr.. Wright, for the purchase of bonds
| of the United States above par or for the
| current expenses Of the government.
Mr.. Logan opposed the amendment and
said it meant simply that none of the
money authorized by the section could be
issued. If bonds could not be purchased with
| il, and could not be used for the current
expenses Of the government, how was it
to be put in circulation?
Mr.. Morrill, modified his amendment by
striking out the latter part relating to cur
rent expenses so it would read, mo part Of
| the same to be used in the purchase of
bonds of the United States above par"
MIR. Ferry, Of Michigan, said he was in
favor of leaving the section as it passed
yesterday. he had every confidence in the
Secretary of the Treasury, and thought that
1
| discretion.
Mr.. Moulton said the amendment of Mr..
| Morrill,, OF Vermont, was calculated to de-
feat the action of the Senate yesterday.
He hoped the amendment would be voted
down.
Mr.. Morrill, asked if the Senator from
Indiana (MortOn) favored the Secretary Of
the Treasury in increasing the public debt
| by purchasing bonds above par. He (AlOr-
| rib would now withdraw his amendment
and see what kind of a bill the majority
| would get up.
Mr.. MOrTilrs amendment having been
withdrawn the question REQUIRED on the
| amendment of Mr.. Logan to the substitute
of Mr.. Merrimon submitted last evening.
Mr. Sherman said the amendment of Mr..
Logan presented the simple question
whether the Senate was in favor of free
banking or not. If free banking should be
established, the banking capital would
All Concentrate within One Hundred
Miles of New York City,
and the West and South would be more dis
satisfied than ever.
Mr.. Conkling said the second section of
the substitute submitted by the gentleman
from North Carolina (MIerrimOn) provided
for an increase of SAG, 100000 in the nation
al bank circulation, while the very next
section submitted by the gentleman from
Illinois provided for all the circulation
which could be obtained.
Mr.. Gordon asked Mr.. Logan TO accept
the third section Ofthe committees bill He
(GOrdon) believed with the gentleman from
Ohio (Sherman) that if free banking was
authorized, the national banking capital
would concentrate within a hundred miles
of New York city. The committees bill
would better somewhat the West and South.
Mr.. Logan said his purpose was to offer
his amendment to the first section Of the
bill of the gentleman from North Carolina,
in place of the second section of that bill
1t was offered yesterday at the hour of adj
iOurnment, after 4 brief examination.
Mr.. Morton thought the argument of the
gentleman from Ohio (Sherman) that if
free banking was established the national
banking capital would concentrate within
a hundred miles of New York city, was
erroneous. The national banks were not
profitable without deposits, and there were
already enough in the East to absOrball the
deposits offered, while in the West there
were hundreds of towns having no bank at
all, and if banks were to be established
there they would have sufficient deposits to
make them profitable.
Mr.. Scott would be glad to see all our
national Indebtedness, now held abroad,
brought home for the purpose of establish
ing national banks. He did not under
stand the amendment of the Sena or from
Illinois (Logan). IL repealed the 18th sec
ton of the national banking law, which re-
ferred to the penalties to be imposed upon
officers of the Treasury and national banks
for issuing notes not authorized, so that if
the section was repealed, notes might be
issued always whether government bonds be
deposited or not.
Mr.. Logan said it was not proposed to re-
peal the whole of the section, but only such
part of it as limited the circulation. The
amendment had been prepared by the SEN
ator from Pennsylvania (CamerOn), but as
that gentleman was absent yesterday, he
Uogan) by request offered it for him and
would stand by it.
Mr.. Cameron moved to strike out in Mr..
Logan's amendment q and insert %,
which amendment was accepted by Mr..
Logan.
Mr.. Morton moved to strike ont the
second section Of the bill as reported by the
committee, which provides for the redemp-
ton of United States notes on Jan. 1, 1876.
The Chair ruled the motion out Of order
at this time.
NJ. Logan said to; test the sense of the
Senate on the second section he would
withdraw his amendment, in order that Mr..
Morton might move to strike out the second
section.
Mr.. Sherman said this to him was vital
point of the bill, and hoped it would not be
stricken out.
Mr.. Cameron moved an executive ses-
sion.
Mr.. Gordon introduced bill to authorize
the settlement of accounts between the At
lantic and G. w. Railroad Company, Ga,
and the United States, upon the same basis
on which similar accounts were settled with
the Tennessee railroads. Referred to the
Committee on Military Affairs.
Fisk University, Nashville.
Mr.. Sprague, from the Committee on
Public Lands, reported with amendment a
bill to confirm the purchase of a portion Of
the site at Fort Houston, at Nashville,
Tenn, and to provide for the donation of
the same to the Fisk University for educa-
tional purposes; also to confirm the pur-