The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1874-02-19
oNcRESsIoNAL.
WASHINGTON, February H.
SENATE.

| WASHINGTON, February Is.
| SENATE.
The Chair laid before the Senate q
memorial from the Cincinnati board ol
trade, common council and chamber o.
commerce, protesting against any re-
lduction in the appropriation for work
on the public buildings in that CITY,
Referred. Z -
M. Anthony, by the request OF the
Chair, introduced bill to extend the
time for the completion OF the Wlscon'
sin Central railroad. Referred
| Mr.. Cameron gave notice that TO-
morrow, alter the expiration OF the
morning hour, lie would move to take
up the House bill in relation to the
Centennial Exhibition.
Ga motion OF Mr.. Wright the Senate
took up the bill to provide for the ap-
poiptment OF commissioners on the D.
lject OF the alcoholic liquor traffic.
Mr.. Ferry, of Connecticut, opposed
the passage Of the bill.
Mr.. Wright said the subject was
proper one Tor legislation by Congress
Mr.. Conkliug agreed with Mr.
Wright as to the expenses OF the COM
mission.
The morning hour expired aud the
bill went over. - -
The Senate resumed the considera-
ton OF the bill to equalize the distribu-
ton OF currency.
Mr.. Chandler said at the proper time
he would offer an amendment, which
be had read for information. 1t pro-
vides that the Secretary OF the Treasury
shall retire aad destroy dollar OF legal
tender notes for each dollar n national
bank notes issued.
Mr.. Cameron gave notice that to-
morrow, after the expiration OF the
morning hour, be would move TO take
up the House bill in relation 10 the
Centennial Exhibition.
On motion OF Mr.. Wright the Senate
took up the bill to provide for the ap'
pointment Of a commission on the cub
ject of the alcoholic liquor traffic.
Mr.. Homes gave notice that he
would submit an amendment ss sub
stilute for that to be proposed by Mr..
Chandler, providing that the Secretary
of the Treasury shall once in each
month sell TO the highest bidder, Tor u
S. notes, coupon bonds equal to 90
rer cent OF the a@1:,iorai bank circu-
lation i--;i .! irTing toe monIa pre-
oeediug, which bonds shall bear interest
al the rate Of 5 per cent per annum,
payable quarterly and the principal
shall be payable at the pleasure OF the
Government after ten years from date,
both principal and interest to be paid
in gold coin, but none OF said bonds
shall be sold at less than their par
value, and the United States notes re-
ceived in exchange therefor shall not
be re-issued but shall be destroyed.
Mr.. Morton said he would call the
th,ntior,, ,of. the - Saestc 40 one. evil
this s25 100000 bill. at would ., q
n contraction of the currency 10 the
amount OF s25.O00.0 900, because pahks
from which money was to De taken
would understand that they were l'sole M
to be called upon at any day 70 rt'ui" y
the money and they would not iena II,
Mr. Freliughuysen said he thousn'
,bsre was a plan that would accom-
nI,sh all that was desired without pro,
> duciLg any embarrassment. he No9Io
say. let the currency oe onn M
. cr,ssed s25 100000 or $50OO9'ooo
= and at the same time diminish Uulteo
States notes 10 an equal amount ih'
= result would be that without increasing
t paper money, banking facilities wou''
o be increased in those sections "au',ps
!, and there would be no withdrawal Q
d money from the east to give It 10 tn
e west The distribution OF the increas'
y in national bank currency shou'
be confued to those o'sle
wh,cb have not their ]"
share. Again, there should be a pro
Vision made tor an assor,iug house. g
that banks should have their notes re
!, turned to them at stated times, and thu
circulation would be locailze'
le He would not allow any OF
Of n have the benefit OF crea'L
l. national banks unless sue
lie applicant could produce license iro ir
le the State or Governor thereof In
would secure the proper location
hanks as well as proper men to VINO
.":am,i,.h,e franchise should be cen
mit;ed. and he hoped that tbs VINO
y subject would be committed TO Tue +
to nance Committee. In CONCLUSION
or said ,hs, he favored the proposluon
ts authorize the Secretary OF the lreasu'
I'd to accumulate gold with we"
OF specie resumption.
r Mr., Howe withdrew his amendme'
ne ~ an amendment to that OF Dir. Ms
!. riman, and offered it in connectl
with that OF Mr. Cameron for the u
limited issue OF bank currency as su
s,i.ute for Mr.. Merrimau's smendme
which instructs the commit
70. to report a bill increasing. t
30 yolnme of the National ba
w. currency to s4O0. 100000
tor The question beng stated BY !
,es Chair. Mr.. Howe szid that the /
.rd change OF front by him was a mists
,. and he wanted, therefore, to offer
10 amendment, as he at frat proposed
ain ,bal OF the gent emau from NoT1h Z
ID olipa, Mr.. Merriman. n,
asst The vote was taken on Mr. DO"
&C. amendment. Yeas l6; pays4O:' :.
ne Mr.. Buckingham offered suostll
for Mr.. Merriuaus amendment
the Finance Committee be instructe'
report bill to provide Tor free bank
aud for the funding OF legal zen
notes into United States banks ana
wv. ntinn of llniied States 90