Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-04-15
Maynard's Currency Bill.

the respective States. Referred to the
Committee on Judiciary.
Maynard's Currency Bill.
The House then took up the currency
bill and Mr. Butler, of Massachusetts, with.
drew his motion to substitute the Senate
bill for the House, giving as a reason that
he had been assured by the chairman OF the
Banking Committee that after this bill had
passed he would move to 60 to the Speak
er's table and take up and pass the Senate
bill.
Mr.. Maynard, the chairman of the Bank
ing Committee stated that it was his inten-
tion that when the pending bill was dis
posed of, TO move to go to the Speakers
table and take up and pass the Senate bill
and on that he should move the previous
question.
Several amendments were offered and
then Mr.. Maynard moved the previous
question on the bill and amendments. The
previous question was recorded ia TO s.
Patriotic resumption.
The first vote was on the following
amendment offered by E. r. Hoar-That
from and after the 4th July, 1876, nothing
but gold and silver coin of the United
States shall be legal tender for the pay
That from and after the 4th of July, 1876,
any holder of United States notes shall have
the right to exchange them at the Treasury
of the United States in sums of 500 or
any multiple thereof for bonds of the United
States, coupon or registered, bearing inter
e-t at the rate of A per centeum a year,
payable semi annually, which bonds shall
be redeemed after ten years from their date
at the pleasure of the United States and
payable at thirty years from their date, pay
able principal and interest in gold; and the
notes so exchanged shall be cancelled
and destroyed and not reissued, and no new
notes shall be reissued in lieu thereof.
The amendment was rejected, yeas 20,
nays III.
Contracting Greenbaeks.
The next vote was On an amendment
offered by Mr.. Foster, of Ohio, providing
that whenever the national bank notes
shall exceed 800, 100000 legal tender notes
shall he redeemed and cancelled to the ex-
tent of twenty-five per cent. of such excess,
until the outstanding and unpaid legal
tender notes shall be reduced to S300,000,-
900. The amendment was rejected, yeas
los, nays 133.
The question then REQUIRED on the bill
reported by the committee. 1t was ordered
to be engrossed and read a third time,
without the yeas and nays. The House
proceeded TO vote on its passage. The bill
was passed, yeas 12S, nays 1l6.
A TeIegrapiiic Joke.
To EDs.-The text of the bill, as passed,
was published in the Nely York World of
the 18th. Please copy.
I'VE would be most happy to do so if
Uncle Sam's mails were in the habit of de-
livering New York papers Of the 18th in
Nashville on the evening of the 14th. But
it cannot waS.-ED.l
The Senate Bill Runs the Gauntlet.
Mr.. Butler, of Massachusetts, then
moved to prOceedtO the business on the
Speakers table. Carried.
The first business on the table was veto
of private bill. The veto was read and
referred to the Committee on Military
Affairs,
Various other bills and executive COM
munications were taken up and referred.
Finally the Senate bill to amend the ma
tional currency act and to establish free
branking was reached.
A Point of Order.
G. F. Hoar made the point of order that
it must receive its first consideration in
Committee Of the Whole, for the reason,
among Others, that it was bill to increase
the public debt.
Another Point.
Mr.. Garfield made the additional point
that the rule provides that no motion or
proposition for a tax or charge upon the
people shall be discussed the day on which
it is made or offered.
still Another, of More Importance.
The Speaker-The Chair agrees with the
gentleman from Massachusetts and the gen.
tleman from Ohio, that while the bill is
open TO the objection that if it does not it
self contain charge or tax on the people,
it is amenable to such proposition, and
that if it does increase legal tender notes it
increases of course the obligations of the
United States, and is, to that extent, open
to the objection that it is tax bill. But
il will be observed that this bill originated
in the Senate, and if it be open to the OBJ
iections urged by them, the Senate could
not have originated it.
Mr.. Garfield-Then let us make that
point.
The Speaker-That point is one which
the Chair has never ruled upon because it
is not for the Chair to say what the Senate
of the United States may or may not prop
erly do. Where the House disagreed with
the Senate on that point, it has always
been by the vote of the House. If the
House agrees that the Senate sent this bill
here properly, all the points made by the
gentlemen from Massachusetts and Ohio
fall, because they cannot concede that the
Senate originated this bill properly and sent
it here properly, and then ask the Chair to
rule that it is tax bill and imposes public
burden.
Mr.. Garfeld-The House can waive its
right in the matter.
The Speaker-The House cannot waive
its right on a grave question as between the
two branches, and ask the Chair to Ell
force minute rule as to mode of proceed
ing. The greatly graver question is as to
whether this bill properly originated in the
Senate. If that question is not raised the
Chair is bound to presume and can have no
other presumption, that the House regards
the bill as properly here.
The House Breaks its own Barriers.
Garfield-Then raise the question that
it is not here properly and should be re-
turned to the Senate.
The question was put whetherthe House
should so declare and il was negatiyed-