Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-04-12
Debate in the House gesterdaY-May.
nard, in Charge &C The Bill, Re
fuses 70 Recsi-e Amend
men,
The House, by TOte c. liz Yeas TO l2O
Nays, Refuses to Consider tie
Previous Question, and De-
bate Is Res med.
Beek's Amendment Reieeted--The Bill
and Amendments and Senate
Bill to Come Uo for De-
bate on Tuesday.

]
sumed consideration Of the currency
bill. Mr.. Maynard, who has charge OF
the bill as chairman Of the bank COM
mittee, declined &c allow any amend
ments to be offered or Toted on, but con
sented to this being printed in the re-
cord. He insists on the previous ques-
ton.
Mr.. Holman suggested that the house
should certainly have the opportunity
to vote on the question whether the in
crease Of currency slOuid be in the form
I Of United States Dotes or Of national
bank notes. He insisted that il should
bein the first form.
Mr.. Maynard declined to yield to that
or any other amendment.
The previous question was seconded
/ by los TO So.
| The house then ref2sed to order the
main question-yeas II, nays I20-so
! the bill was again lef. open to amend
ment and discussion.
| Mr.. Beck then moved as a substitute
bill introduced by himself on March
I 30th, authorizing the iss1e of four hun
dred million dollars of legal-tender
notes, the retirement Of natiOnal-bank
notes, and the substitution therefor of
treasury notes and 3.S5 per cent. con-
vertible bonds.
Several propositions were made to
amend Beek's substitute.
Mr.. Cox raised pointer order that men,
bers interested in national bank stock
which one Of the sections of Mr.. Beck's |
bill proposes 10 tax, had no right to vote
on the question, as he owned bank stock |
himself.
The speaker overTulsd the point of or |
der and said it was a question that had |
been frequently and uniformly decided. |
Interest contemplated in the rule, was |
special and private one; not one that /
was only involved in questions OF gen. |
eral interest Of gentlemen from New |
York who had conscientious scruples /
about voting, and the house would not
compel him TO vote. Laughter.
Mr.. Hunter moved two additional sec
tons to Mr.. Bcck's bill; one prohibiting
usury by banks, and he other permit
ting the taxation of lsgal-tender notes
and bank notes as Othe- property.
Mr.. Packer moved an amendmen
abOlishing all limitation of irregulation
and establishing free banking.
Mr.. Rice asked whether a motion to
postpone the whole subject would be in
order.
The Speaker said - would be if the
gentleman from Illinois had the floor to
make it.
Mr.. Rice-I wish had. Laughter.
Mr.. Beerchard made point Of order
that one section, the thirteenth, pro-
viding for the payment of One-haif of
the import duties in iegal-tender notes
must first be considered in committee of
the whole.
The speaker sustained the point of
order on the ground that the section
was not germane TO the original bill, |
which was the currency bill, and it
would change the customs laws on every
article of commerce.
Mr.. Beck then offered his substitute
with the thirteenth section stricken out.
Mr.. Kellogg made another point of
order on the eighth section taxing bank
notes three per cent.
The speaker over-Uled that point of
order, on the ground that the section
was germane to the bill and might have
been offered as an amendment. '
Mr.. Beck then moved the previous
question on the amendnent. Carried q
"a to rs.
The first vote was taken on the
amendment offered By Mr.. Coburn,
limiting the permanent issue of United
States notes to four hundred million dol !
lars, with fifty million dollars for re- q
serve, which was was rejected without
the yeas and nays. TEe next vote was q
on Mr.. Hunters amendment, and that {
was rejected without the yeas and nays.
The next vote was on Mr.. Parker's 4
in the nature of substi- :
tute for Mr.. Beck's bill, abol-
shing the limitation on currency,
and establishing free banking Oh a
rate. The amendment appear =
I'd to be carried-S5 to 46. A vote was I
hen taken by yeas and nays. The vote
resulted yeas u, nays 146. So the
was rejected. The question
hen required on Air. Seck's substitute.
Judging by the sound it was badly de-
Gated. The vote was then taken by
1eas and nays, whi.n resulted-yeas 81, v
rays l64, and Mr.. Beck's substitute was
elected. Pending vote, Mr.. Speer Sc
Pa. made point Of order that Poland,
Phelps and Hamilton, being presidents S,
nd directors of national banks, had no
light to vote on bill which imposed a p
ak on national banks; they had already
Oted in the negative. Sc
MI. Cox had something to say on the R
anne subject and wanted the question
ecided, as he held bank stock. Sc
Mr.. Butler Mass. wanted to know ID
sted operated to take the individual VI VI
ut of the rule. -
Mr.. HOar wanted TO know how the y,
ase was different from the tax on gold J.
atches ard silver plate.
Mr.. Dawes suggested that when a CT
lenber of the house belonged to RI
ass Of the community which might be
tected by legislation, the rule was that U
g should be permitted to vote. The ut
older of bank stock vas no more in
rested in this question than the holder ~ y
stock IN manufacturing company
as interested in question which inn Il.
)sed duty on foreign manufactures. Or
Mr.. Cox remarked that he had been
most uniformly alone, aulDDg various Da
embers interested in banks: IN voting Pr
tax such stock be made no claim of
sinterested public service, but he had Po
bmitted himself to an amieable case "a
r determination. There were some
ghty members interested in banks who ~,
lted differently from him.
The speaker, in an elaborate decision, ~,
7erruled the point of order; and on an "a.
lpeal being taken, the decision was
titled by the house, only nine mem- 20
srs voting against it. al
Mr.. Butler Mass. then moved the
nate bill as a substitute for the house Of
IL. Re
Mr.. E. r. Hoar offered an amend
tent providing that after the first of SH
eptember, 1874, nothing but gold and al
liver coin Of the United States shall he
gal tender, and that, after that, United On
tates notes may be exchanged for Dr
)nds bearing four and half per cent. Ike
terest, redeemable after ten wears. and
syable thirty years after date. @ ,ss'
Mr.. Foster moved an amendment that nj,
case of any increase in national bank Re
rculation beyond tbs three hundred
nd fifty-four million legal-tender notes, vic
the extent of twenty-five per cent. OF pa.
lch increase shall be retired and can of
'lled until the outstanding and unpaid Wit
CALENDER notes shall be reduced TO
iree hundred millions. u
Mr.. Wilson Ind. moved an amend :; ..
ent repeating all laws that limit circu- mc
ton, and that require reserve on ac- Me
unit of circulation.
Mr.. Maynard $hen moved the previ-
is question on the bill and amend
ents.
A motion TO adjourn was then made,
ID the yeas and nays were ordered, ~
Before proceeding with the vote, the Tsi
eaker intimated that in revising the Z.
porters' notes of hissstatement Of Mr.. \
)eers's point Of ordeE, ,Ihe would take the sbta bs
)eTty of adding an illustration which he pai
ID overlooked, andlwhich was very per- L
lent-namely, that en- the question of Elsi
lpozing or repeating the income-tax, MMse
cry member, x that point of order . )
IS good, woald Be restrained from inc
ting. SO
N Inquiry BY Mr.. Sheer, So to whether 10
6 speaker Mplld strike out anything -
had said, was resented by the sle8keT tsls
a apersonai eoliooc5 resulted. which ca
Is conducted on both sides with doa ea
xeHd to the dEgEety and FfeprieEy Of az.
8 oeeasions he spsakeE EeaiaEking Sal
af he was Aotnsuslly in the abit Of 70
FeFsing fep0fter's notes, and when Ae
eEshe did make any change In what M y
sad. 4 was always in the I'M Ar
esf 6f good natures pel
Ehe vote en aei3;znnent resulted 'ts. =.
as n = e.H4 house tkss IL e
s><z.f E : '.,ss n
sds ssl3aR 'pgs9s q . = . s ssss : -