The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-05-15
ooNGREss s 8.
SENATE.
MAsH1NarnN. MAY IA

ss@sAsAAAtSANAAh AA4Ry Az
When the Senate was called to ordel
today at II o'clock only thirteen mem
bers answered on call Of roll,
The Chairman, Mr.. Carpenter, read
from rule, forbiddiDg the transaction d
any business without q quorum, and said
his attention was called TO the Absence al
go many Senators at the hour Of mel tlno
Yesterday, when only four were present
hence his course today In calling the roll
alter the explanations that some Senator
were engaged on committee work and the
statement by the Chair that the only mo.
tion 10 adjourn was in order.
MIR. Chandler made such q motion, but
Withdrew It at the request OF the Senators
and moved q call Of the Senate roll, which
was again called and forty Senators an.
swered, being a quorum.
Mr.. Pratt, from the Committee on Pen.
slons, reported adversely on large mum.
Der Of petitions oi soldiers In the war oil
1879 and the widows Of such soldiers for
pensions, assigning as a reason that a ma.
1ority OF the committee directed him TO
report iavorably on the House bill which
provides for pension oi IS q month To
all surviving soldiers Of the war Of 1919
without reference to the time Of service,
and 1t also provided for tho widows Of
such soldiers.
FINANCIAL BILL.
The morning hour having expired, the
Senate resumed consideration of the
finance bill, the pending question being
the amendment OF Mr.. Wright TO strike
out tifty per cent as the proportion Of le.
gal tenders to be retired as new national
bank notes are issued, and insert in lieu
thereof twenty-five per cent
Mr. Chandler moved to 10y the bill on
the table. Lost; yeas 10, nays 85.
Mr. Wrighrs amendment was agreed
to; yeas 80, nays "a. IN
MIR. Wright moved to amend BY insert.
ing In the sixth line of the 9Th section the
words "ln excess Of the highest outstand-
ing volume thereof at any time prior to
such ISSUE" so that the clause would read
land within thirty days after circulating
notes to the amount oI one million dollars
shall from time 10 time be issued 10 the
National Banking Associations under this
act In excess Of the highest outstanding
volume thereof at any time prior 10 such
issue, It shall be the duty Of the Secre.
tary Of the Treasury to retro On amount
OF United States notes equal to 25 per
cent Of the circulating notes so Issued"
&c. Agreed to. Yeas 80; nays 90.
Mr.. Wright moved to amend by strik-
ing out five per cent as the rate Of interest
which the bonds issued to redeem the
present United States notes after January
1877 should bear, and insert in lieu there.
OF iour and q half per cent. Agreed 10,
yeas SO, nays 10.
He next moved 10 strike out 10 years
as the timc when such bonds should be
redeemed in coin, and insert In lieu
thereof 10 years. Agreed TO, yeas 81,
nays 1G
He next moved to strike out January
1st, 1877, as the time when the United
States notes may be redeemed in the
bonds above mentioned and insert in lieu
thereof July 1st, 1878. Agreed to with.
out discussion.
Mr.. Conkling moved to strike out all
alter tho cnaCliug clause, and insert in
lieu thereof tho bill reported by the FL
nance Committee on the third Of Febru-
ary last, providing for the withdrawal OF
national bank currency from those States
having an excess to the extent Of forty.
Elk millions instead Of twenty. five mil
lions, the sum named in the BILL, and the
redistribution ol that amount 10 those
States having less than their proportion,
He said that under this bill a large amount
would be taken from New York, but he
would rather see It 60 than see initiation.
He hoped his substitute would be adopted
and the financial trouble be ended.
Mr.. Merrimon submitted an amendment
in the nature OF substitute, providing for
the cancellation of all national bank notes
after July l, 1876, and directing The Sec
retary Of the Treasury to issue in the place
oil every 500 Of national bank notes so
cancelled 800 In greenbacks, which shall
be used either for the redemption Of the
public debt or In payment of the current
expenses oi the government; repeating
all laws imposing q tax on State banks
greater than that now imposed on national
banks; providing that hereafter iiIty ner
cent Of the duties on imports NAV be psid
In United States notes, and that after
January /, 1877, United States notes
may bc exchanged for ten-year five
per cent gold bonds, and that
the Secretary Of the Treasury may
reissue notes so exchanged; that after
January, l, 1878. United States notes
shall be redeemed In coin, and for that
purpose $25, ,000,0 600 in coin shall be an
nually reserved from the surplus revenues
Of the United States, 10 prepare for specie
resumption; or, II the surplus revenues are
not sufficient to allow this amount TO be
reserved, the Secretary may, IN order TO
supply the deficiency, sell any part Of the
one hundred millions Of five per cent
bonds; and that after the - day OF -
in the year Of =, the fractional cur
rency Of the United States shall be re-
deemed in silver coin and destroyed.
Mr. Conkling inquired II the amend
ment was In order.
The chair replied that II was in order
under the new rule recently adopted, al,
though II was an amendment in the third