The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-03-27

that such Of the provisions Of the act Ia
provide for the redemption q three per
cent temporary loan ot certificates, and
for an increase OF the National Bank
notes approved July 18th 1870, and so
much or such parts oi any other act or
acts Of Congress as limit, or as may be
construed TO limit or restrict, the entire
amount OF notes for circulation 10 be issued
under said national currency act, and the
several acts supplementary thereto, be
and the same are hereby repealed and
that hereafter, all associations organized
or that may be organized for carrying on
the business Of banking under the pro-
vislons OF said act, shall be free 10 estab-
liSh and organize national banks with
circulation, at any place within the sew.
e!al 6tates aud Territories Of the United
States, on the terms and conditions and
subject to all the limitations and re-
strictions now provided by law, ex.
cept the Limitation upon the en-.
tire amount Of circulation, which Ia
hereby repealed. That each National
Banking Association now organized or
hereafter organized shall keep and main
tain as part Of its reserve required by law
one.half part ol the coin received by It as
interest on bonds Of the United States de.
posted as security for circulating notes
Tor government deposits, and that hereal.
ter only half Of the reserve now pre-
Scribed by law for National Banking As.
sociations shall consist OF the balances due
to an Association available for the re.
demption Of Its circulating notes from an
Association In cities OF redemption, and
upon which balances no interest shall be
paid.
Mr.. Morrill,, Of Vermont, moved as an
amendment to the first section of bill a.
amended by Mr.. Wright, the following i:
But no part o! the same shall be used in
the purchase Of bonds oi the United States
at above par nor for the current expenses
Of the Government.
Mr. Buckingham gave notice that he
would offer as a substitute for the bill in
troduced by him December last, to pro.
vide for free banking, to secure an elastic
currency, to appreciate the national OBJ.
legations and 10 reach specie payments
without commercial embarrassment. This
provides for the redemption OF United
States bonds in coin or interest bearing
bonds, from and after January 1st, 1874,
and tor the redemption OF United States
bonds, bearing interest at the rate OF not
less than 9 per cent per annum, in legal
tender notes and accrued interest in coin.
Pending the discussion, the Senate at 0
P. N. adjourned.
HOUSE.
Mr.. Hunter offered resolution in.
structing the Naval Committee to inquire
into the propriety Of removing the Navy
Yard from Washington to Alexandria,
Va. Adopted.
Mr.. Thornburg introduced bill to re.
duce the army. 1t proposes to leave the
cavalry and artillery al the present force,
but to reduce the infantry by five regl-
ments. Referred.
MIR. Packard, from the Committee on
Private Land Claims, reported a bill 10
extend the time ior filing suit In the Court
of Claims to establish the title to the
bot Springs reservation in Arkansas
Recommitted.
The following resolution was unani-
mously adopted:
ReS0lUed, That the Committee on Bank.
ing and Currency be instructed to in
quire into the necessity and expediency
Of requiring, by law, that Enited States
notes and other securities OF the United
States be printed in parts and at different
places, in order TO promote greater safety
and economy in their preparation and
issue, and that they report by bill or
otherwise.
Mr.. Speer, from the Committee on
Contingent Expenses in the Department
Of Justice, offered resolution instructing
that committee TO inquire into the charges
against the clerks Of the U. 8. Courts in
the Middle District Of Alabama and the
Southern District Of Illinois, for not max.
Ing returns OF fees received, with power
to send Tor persons and papers. Adopted.
The House then proceeded to vote on
the bill to regulate commerce by railroads
among the several States, and the bill was
passed-yeas 12l, nays 1lC.
The bill as passed Is, with but a slight
modification, the same as that reported by
Mr.. McCrary, Of Iowa, from the Commit
tee on Railroads and Canals, on the 10th
OF January. II enacts that all railroad
lines carrying freight and passengers be.
tween the different States, whether owned
by one or by various corporations
shall be regarded as employed in
the commerce among the several States
and shall be liable for any violation OF
this act They are forbidden 10 charge
more than lair, reasonable rate for the
transportation of freight or passengers,
such rate to be fixed by board of rail-
road commissioners, to be appointed by
the President with the advice and con-
sent Of the Senate, and 10 be residents Of
each Of nine Judicial districts OF the
United States. They are to be disinter-
ested persons, and not 10 have any inter.
est In the stock, bonds or property Of any
railroad or any transfer company. This
board Of railroad commissioners Is to in.
sttute through investigation and inQ uiry
into the rates, tolls and compensation
charged for transporting freights and
passengers over such lines Of railroad,
and into the reasouableness thereof, and
is as soon as practicable after such invest.
igation, TO prepare for the owners OF
each OF such lines. A separate sched.
ule ot reasonable maxium rates ofcharges
for transportation of passengers and
freight and cars on or over said lines res
pectively. The schedule is to be duly au.
thenttcated by the Board Of Commission.
ers and 70 be printed and Kept posted up
In each Of the offices and depets Of such
railroad company's, and they may from
time TO time and so often as circumstan-
ces may require change and revise the
schedule, and shall give notice Of such
changes or revisions in some manner.
Tho House after struggle for tho pre-
cedence between the Legislature appro.
priation bill and the currency bill has by
q vote Of 90 to 6l taken up the currency
bill.
Mr.. Butler, Of Massachusetts, present.
cd a new set OF credentials certifying 10
the election ot Mr.. Pinchback as q Rep
ttxya az 1ar1n Inr TNniaiapa De-