The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-06-04
G ON Q r E s S.
Debate on the Proposed Improvement Of
Internal Transportation.
THE PRELIMINARY SURVEYS.
The Sentiment of the Senate Evinced
in Favorable Speeches.
WASHINGTON, June 3, 1874.
THE rRrEDMES,s SAVINGS COMPANY.


Finance, reported iavoraoly on the House bin TO
amend the charter OF the Freedmen's savings and
Trust Company. Passed.
The bill provides that within ten days after its
enactment the Comptroller OF the Currency SHAH
appoint three commissioners, who, under his direc-
tlon and the control OF the Secretary or the Treas
ury, shall take possession or the books and all the
assets OF the bank and Its branches, and proceed
10 wind up all the business OF said bank and Its
branches and pas into the United States Treasury
All the money realized thereirom. The Comptroller
Of the Currency is to declare and pay dividends as
the results may justify. The commissioners are to
receive a salary OF $4,000 per annnm and give
BONDS OF SOS, 600 each. 1t IS provided, however.
that II, In the progress OF winding up the
5ffairs the commissioners and Comptroller OF the
Currency shall at any time be OF the opinion that
he bank can resume under its old charter they
may with the consent OF the Secretary OF the
Treasury. turn 1t over to the Board or Trustees.
who shall then resume their present powers.
No TAX ON SAVINGS BANK DEPOSITS
Mr.. SHERMAN. (rsp.l OF Ohio. from the Commit
tee on Finance. reported avorably on the House
bill explanatorv or the act OF June 80 1854 IN re-
gard TO savings banks. with an amendment, which
was agreed rc. 2nu the oil passed. Ii reads as
follows .n1 AL Qencslts made IN institutions
now existing Wslca Ga business only as savings
banks am are reccEa-zs3 IS such by the laws
ol their rasDecrtr2 Ct2tes or by Congress are
HEREBY declared 70 be exempt from tax
alton the sa-1e as deposits in savings
institutions hav,-T no capital. although they
have a capital stock or bonds the additional Sc
earity OF their deposltors ana pay aivldends
thereon, and no tax snail be assessed upon The de-
posits made IN sDch institutions or collected or
them on said DEPOSITS Otherwise than herein
provided: prcYeeo lhas all tAe pronts OF such
savings banks, less the aicrcrs ntloned dividends
on stock not exceeding Is the rate OF eight per
cent per an1urn, arc divided among the depos-
In the same cas- sseS--es as IS used ior invest
CflY Is u
less tAan four aLG o1e-a4A per cent be paid IN all
cases to thsir ceC S coEs, 10 be made good, II
The morning ccar having expired the CHAIR
called r2 u&oished bus ness, being the cheap
transportation resolution OF Mr.. Window.
THE CONSULAR AND DIPLOMATIC APPRoPRI ATOMS.
On notion oil MI. MORRILL,, trep.l OF Me-, II was
aia aslae ialotna ana tne senate prqceeded TO
Appropriation bill. Several amendments were
agreed TO-
The Oil was then read third time and passed.
Mr.. SARGENT. trep.l OF Cal. called up the PEN
sion Appropriation pill. winch was read. He ex
planned that tie TOTAL amount appropriated by the
bill was sz9,9s0.0oq, decrease OF S50e.O0O as COM
pared VITA rhs oil! oil last year. The pension roll
would be snnal Ter ana smaller every YEAR unless
Congress should Improperly increase II by putting
un new cases
After considerable discussion the bill passed.
CHEAP TRANSPORTATION.
Nr. WINDOW rep Of MIMI then called up the
cheap iranspo 'tatlon resolution submitted bv him
on the l3tn o. May, lnsrructing the Committee on
appropriations 70 report endments ~ the pend.
aug RIVER and HarO0r Appropriation Dill, TO COM
provements recommended py the select Commit
tee on Transportation upon the Jour routes midi
cated In the report OF that committee, as lol-
Fjrst-The Mississippi River.
Scond-A continuous water line OF adequate ca
paolty from the Mississippi River to the city OF
New York Via the Northern lakes
Tdard-A route adequate TO the wants OF CON-
merce through the central tier OF states from the
Mississippi River via the Ohio and Kanawna
rivers, to point in West Virginia, and thence by
canal and slackwater or BY neight railway TO
Foartb-A route nom the Mississippi River, via
the ono ana tennessee rivers. TO a point IN Ala
Dana or Tenn. ssee, and thence by canal and slack
water or by a freight railway to the ocean. He
SAID II was not his intention 70 go over the subject
OF cheap transportation again. Us the committee
had July reviewed 1t. Ills object now was 10 OBJ
tam an expression OF the views OF the senate
in the ne;ghoorhood OF $4,000 He came
before the Senate with the firm
improvements recommended by the committee
would reduce the cost OF living TO the farmers aud
mechanics ana laboring people at least fifty per
cent he believed the Committee on Iransporta-
tlOn was correct in the conclusion that the
HANGED value OF lands IN eight States alone would
De $1,000. 0o0, 00J upon the completion OF the im-
proyemeuts recommended. he hoped the resolu-
lion would nave no opposition. but be passed. so
lhdt hereafter, when toe senate should De called
upon 10 act upon this system OF improvements, il
might do so with Intelligence.
Mr.. MORRILL,, ol Maine, inquired If II would be
more appropriate to have the matter considered
by the Committee on Commerce, and asked II any
estimate oil 1ne cost OF the survey had been made?
made and would be submitted TO the committee.
1t was deemed advisable TO nave the Committee
un APPROPRIATIONS consider the matter, as three
meinners ,ol the transportation Committee were
on that committee and could explain the subject.
Mr. scorr submitted an amendment as ioows:-
Anu also upon route rom the mouth OF the
1ougnio9neny River TO slackwater up said river to
lis headquarters at the loot the Allegheny Noun
Inns, thence by canal 10 the Cumberland, inter-
seeing there the Chesapeake and OHIO Canal-r
Agreed 10.
Mr.. CHANDLER, rep.) OF Micn., SAID he did not
think the Senate OF the United States had in
formation enough before it TO pass upon a resolu-
ton OF the mandatory character OF this. VINO
knew what the cost OF these improvements would
be- Ii tue country should go on Tor the next SIX.
teen years making the rapid strides that 1t had
during the past sixteen years 1t would have
abundance oil cheap transportation from West
East
Mr. SALISBURY, (dem1 OF Del, submitted an
amendment as follows:
AND also for ship canal TO connect the waters
oil the Chesapeake Bay with the Delaware Bay at
sueh polnt as viii best promote the foreign and
eoastwise commerce OF the country
Mr. WINDOW SAID the agricultural and laboring
inteIests Oh the country did not propose To wait
sixteen years Tor that winch could be accom- lished
~ I'VE or SIX years. Conventions all over the
country had called upon Congress and demanded
thdt " act one way or another upon this subject
ae reviewed the work performed by the Trans
pcrlatlou committee IN examining in to the subject
ana SAID that that Committee composed OF nine
senator's. had unanimously recommended the I'M
proyements. Yet the honorable senator from
Michigan mr. Chandlerl SAID, s1et us continue TO
inyestgaie Go on sixteen years longern He
tMr. lndom), Tor one, was not willing 10 wait s1y
teen years and lye-sixths OF the peonle III tho
country were not willing 10 walt. Inc system Of
improvements heretofore followed, under the
tlVer anu Harbor APPROPRIATION bill, was most ma
wise. small appropriations, scratching a little
mere and lltte there, perhaps, to carry the vote
o. the representative OF some district, had
amounted 10 nothing Whatever.
Inc amendment OF Mr. SALISBURY rejected.
ar MEERfaoN, (dem.) OF n. g., submitted an
amendment as follows And also for ascertain.
ing ny such survey whether IL is practcaDe 10
sohsIuct snip caHal passing near the Atlantic sea-
tue state OF exas.n -
Mr: CnASDlAR saiG Congress had not been
sSratchIng Nc! G9e J0ere SIS the gentleman nom
LouisVhe SaAel &t tue Rock Island Canal where
tnousands ano thousands OIL tons OF rock mad been
taken out.D
MI MORTON, fep.l oi lrd., said the adoption OF
TINS Resolution QG nos mmir Congress 10 con.
struct any Que 81 tEe WORKS described In il: every
port4on oil the country was Interested in This In.
quiry, and the question must be met PROMPTLY by