Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-04-07

| OF the l. nlteQ states c<lH 9eL his DOtcs uiS-
counted at such rates of interest as he de-
sires. And the Secretary Iof the Treasury
will also continue such conditions to cur
reTcy until every citizen of the United
States has enough, and until the country is
entirely relieved of its present public DEBT,
or of any further necessity of borrowing
money abroad for the construction of rail-
roads and other public Improvements, so
that all the interest now paid on such debts,
may be kept at home and when this Is ac-
complished, the Secretary of the Treasury
shall, forthwith, resume specie payments,
without any shock to the business OF the
country e tLaughterl
The clair ruled that the substitute was
not before the Senate,
The amendments made in Confnittes of
the Whole were then concurred in atid |
without division.
The isiIi on Third neadiBs-vigorous |
Protests.
The question being, shall the bill be |
read third time and passed, Mr.. COnkling |
said the bill proposed to put out and keep |
out the whole four million reserve. 1t |
proposed to put out and keep out irredeem- |
able bank paper: Temporary relief might |
come from il, but it Wculd only snOOlhe |
the way to disaster and distress hereafter. |
Such a policy spurned the experience of |
| every epoch of history, trampfed upon 1
| aid violated the faith of the nation. Every !
department of tlis gorSrnment was pledged |
TO redeem this paper. Besides the deelara- |
tiOn of the national conventions OF that
political party which chose most of the |
Senators on this floor, as well as the Chief |
| Magistrate 6f tbs nation. who was also /
| pledged against this poiiCJ.
MeSsrs. Stewart and Anthony protested |
against the passage Of the bill.
The Pine Woods Hero.
| Mr.. Thurman said after tour months de-
liberation the dominant party in this Sen
ate, in disregard of the recommendations of |
the Chief Magistrate, in disregard Of the 1
Recommendation Of the Secretary of the |
Ire Surg and in utter contempt Of an ex-
| perienced Finance Comtdittse. hsd adopted /
a measure proposed by one of the minority. |
The great Republican party had adopted |
| the measure Of Democrat. He Thur
mani could take no credit in this triumph |
| which his Democratic friend from North /
| Carolina tMerriInon) had achieved. After [
all their discussion it was reserved for the |
pine woods OF North Carolina to shape the |
financial business of the country. He |
| CThuman) believed it would disband the |
| Republican party. though he couldn't ne
gard the one to which he belonged as very |
solid on this question. I.aughter.l The |
action of the Senate to-day simply meant |
that no man of his ace would ever again |
see in this country the money referred TO |
by our forefathers and our Constitution.
An Appeal fOra Vefo.
Mr.. Sargent said he relied upon another |
| department of the government, to set |
right the wrong which had been done |
here. This administration had been elect
ed upon pledge contrary 10 this bill. He |
| (Sargeant) believed there were men enough |
in the East and in the West to see any par
| ty or leader of party perish who attempt |
ed TO food the country with an irredeema-
| bic paper cHrrencfI
A Prediction.
| Mr.. SchurZ said he felt hufniIiated as an /
! American citizen It the sction Of today. |
| The gentleman who favored the bill might I
think themselves benefited, but the day |
was not far distant, when they would curse |
the hour they gave such a vote: The day |
was not far of, when the people would re- |
cover their senSes,an save themselves from |
tltnse statesrueu who would bring the cOun- |
try to ruin.
FOrbearance.
Mr.. Carpenter said he only arose to say
that those upon his side had agreed among /
themselves to remain silent in order thai |
tlisre i'ligh. be rOte. They Rad resolved |
to say nothing, and sinitten upon one cEeek |
to turn the other.
Mr.. Flanagan hoped the bill would be |
Vetoed and said such action on the part of |
the President would but add to his great |
fame.
Mr.. Morton said there would be an op-
pOruunity to reply 10 these most extraordi- |
nary speeches and he would avail himself |
Of it. But for the present he would for
bear.
| The Final Vote.
The bill was then read the third time /
and passed, yeas %, nays "a, as follows:
1eas-AliisOn, BOgy, Boreman, Cameron,
Carpenter, Clayton, Dorsey, Ferry of Mich
| igan, Goldthwaite, Harvey, Hitchcock In
gals, Johnston, Lewis, Logan, McCreery,
MeIrimOn, Morton, Norwood, Oglesby, Pat
tersOn, Pease, Pratt, Ramsey, Robertson,
| Spence, Upton, West and WindOin-tUtal,
Nays-Anthony. Chandler, Conkling.
| Cooper, Cragin, Davis, FentOn, Frelinghuy-
sen, Hager, Hamilton OF Maryland. Ham
ilton Of Texas, Hamlin, Howe, Jones, Kel-
| ley, Morrill, of Vermont, Sergeant, Sauls-
berry, Schurz, Scott, Sherman, Stewart,
Thurman and Wadleigh-total, "A.
Messrs. Gordon, Brownlow, Mitchell,
Sprague, COnover, Ransom who would have
voted for the bill were paired with Messrs.
Bayard, Flanagan, Boutwell,, Morrill, of
Maine, Stevenson, Stockton and Edmunds,
who would have voted against 1t.
The Bill as Passed
reads as follows:
That the maximum amount of United
States legal tenders is hereby fixed at $780,
100000.
2. That S46,0O0,000 in notes, for circula-
ton in addition to such circulation now
allowed by law, shall be issued to national
banking associations, now organized and
which may be organized hereafter and such
increased circulation shall be distributed
among the several States. as provided in
section 1 of the act entitled an act to provide
for the redemption of the per centum
temporary loan certificates and for an in
crease of national bank notes, approved
July u, 1870.
3. Each national banking association
now organized or hereafter to be organized
shall keep and maintain, as a part Of its
reserve required by law, one-fourth part of
the coin received by it as interest ON bonds |
OF the nlted States, deposited as security
for circulating notes or government de-
posits, and that hereafter only One-fourth ,
oil the reserve, now prescribed by law for |
national banking associations, shall Con-
sist of balances due to an association. !
available for the redemption of its circula-
ting notes from associations in cities of re-
demption, and upon which no balances in
terest shall be paid. '
Mr.. Anthony moved that the first bill /
on the calendar, being that for the relief i
oi Lewis Ashbury Stickens, be taken up t
as unfinished business tomorrow. This !
was agreed to and the Senate adjourned. J
HOUSE. {
WASHINGTON, April 6.-Under the call c
OF States many bills, but none of general g
interest, were reported and referred. r
On motion of Mr.. Sawyer, permission ;
was given to the Committee on Public /
Lands to report back Senate bill extending
TO the 3lst December, 1876, the time for !
completing the Central Railroad of Wis II
cOnSln. After considerable debate the hill | T