The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1874-02-10

cribed in said section, organized in the
states having an excess of circulation, to
withdraw and return so much of their circu-
lation as
Section 9. - That upon the failure of the
national banks, upon which the requisition
for circulation shall be made, or of any of
them to return the amount required,
or to deposit in the treasury lawful money
to redeem the circulation required within
thirty days, the comptroller of the currency
shall at once sell, as provided in section 40
of the national currency act June Sd, '64,
/ the bonds held to secure the redemp-
ton of the circulation of the association,
ton, or associations, which shall
80 fail, to an amount sufficient to redeem the
circulation required of such association or
associations, and with the proceeds which
shall be deposited in the Treasury of the
United States, so much of the circulation of
| such association or associations, shall be re-
deemed as will equal the amount required
and not returned, and if there be any excess
of proceeds over the amount required
for such redemption, it shall be return
ed to the association or associations
by said act, may be apportioned to be with
drawn from them, and in lieu thereof, to
deposit in the Treasury of the United States.
lawful money sufficient to redeem such cir
culation, and report the return of the circu-
lation required on the deposit OF lawful
money, as herein provided. An appropriate
amount of bonds, held to secure the circula-
ton of such association as shall make such
return, on deposit, shall be surrendered to it.
Section 3. = That from and after the pas.
sage of this act, it shall be lawful for the
Comptroller of the currency to issue circu-
lating notes in tue manner and proportion
now provided by law to the association or
ganized or to be organized in those States
and Territories having less than their pro-
portion of circulation, under an
To-. Ont 10 hn hoo of
population and of wealth as shown by the
returns of the Cenans of 1870; provided, that
the whole amount of the circulation issued
to such banking associations, and withdrawn
and redeemed from the banking associations
under the provisions of this act, shall not
exceed S25, O0O, 900, and that such circulations
shall from time bewithdrawn and redeemed,
only as it shall be necessary to supply the
banks in those states having less than their
apportionment.
Mr.. Bogy, OF Missouri introduced bill to
extend the provisions and limitations of the
act limiting the liability OF ship owners, APP
proved March Sd, 1851, to all vessels required
to be inspected by act of Congress, and to all
claims for loss of life or personal injury,
both as against the owners or charterers ana
the captain, mate, engineer and pilot
thereof.
Mr.. Sargent, of California, introduced a
bill, which was referred to the committee on
health. 1t proposes to establish at Wash
ington, under the direction of the interior
department, bureau of health, the genera.
design and duties of which shall
be to acquire and diffuse among the people
of the United States useful Information
on subjects connected with the preservation
OF the public health, and 90 assist whenever
called upon, the several states and territories
in the establishment of efficient sanitary
and quarantine system and regulations of
the bureau to be in charge ola Commissioner
to be appointed at a salary Of $4,000 per an
mum and who is to be assisted by their
clerks. The Senate then proceeded to the
consideration of the bankrupt bill, and
Edwards of Vermont, explained the
amendments heret otore published.
The amendments were considered seriatim
and the last six were agreed to, as reported
by the Judiciary committee, without change
The two most important, which provide that
no discharge shall be granted to debtor
whose assets shall not be equal to 3S per
cent of the claims proved against his estate,
without the assent Of his creditors, in num-
Der and value as prescribed by existinglaws'
which, provides that in cases OF involuntary
or compulsory bankruptcy. the period of
four months, mentioned in the 35 section OF
the original, be changed to two months; bat
such provision is not to go into effect until
two months after the passage OF this act.
The period (six months) mentioned in the
same section OF the original act is
changed to three, but not to take
effect until months after the passage of
this act When the seventh section of the
committees arrangements, in regard to at
tempts to defraud creditors was read, Mr..
Oglesby of Illinois, said he would be glad to
see system of general bankruptcy passed,
and remain upon the atute books OF the
country for people to become accustomCl to
it without taking any action, the Senate sd-
journed.
THE DISTRICT OF COLUMBIA INVESTIGATION
Mr.. CARPENTER INTRODUCES HIS LOUISIANA
RILL.-AN EXTINCT sEGAR.-THE BANKRUPT
BILL DIsCUsSED.-No DISPOSITION MADE OF
1T. .t
WASHINGTON, d. c., February 5.
The ChaiE laid before the Senate the COM
municatioh from the Secretary of the
Interior in response to a resolution of the
Senate enclosing the reports OF the govern
ment Directors of the Union Pacific Rail-
road. Laid on the table.
Joint recommendations from the House
authorizing the appointment of joint COM
mittee of the Senate and House
of Representatives to investigate
the government of the District of
Columbia was laid before the Senate,
Mr.. Hamlin, of Maine, said he had the
honor few days ago to present memorial
from the government of the district the
same subject, and he hoped the resolution
just read, would receive the unanimous ap-
prevail of the Senate. Moved that the num-
Der of senators on the committee be three.
Agreed to. Tho resolution was passed.
Mr.. Carpenter, of Wis, introduced bill
OF which be had given previous notice, to re-
store thu right of the state of Louisiana, and
said he desired to have the bill printed and
lie on the table. Early next week, he would
ask to take it up for reference, and would
ask the indulgence of the Senate to
submit some remarks explanatory OF the
bill. The bill was ordered printed, and to lie
on the table. Ea- ffrss
Mr. Lewis, of Virginia. presented a me-
mortal from Joseph Segar, of that State, de-
failing the circumstances of the election OF
l., j. Borden as United States Senator from
Virginia by the Wheeling legislature in 1853
and the death Of that gentleman while serv-
ing the Senate. and the election of the claim
ant by the Alexandria legislature to fill Bor-
den's term. The otition further states IT, at
=