The home journal. (Winchester, Tenn.) 1858-188?, 1876-01-20

national banks in liquidation, and proceed
ing TO enforce individual liability Of stock.
holders. The following is n full text Of the
bill introduced to-day by Senator Morrill,, OF
| Vermont, 10 provide for the redemption OF
| legal tender United States notes in accord.
ance with the existing law; De it enacted
etc, That TO further enable the See
retary of the Treasury to provide for
the redemption Of tbs legal tender United
States notes in accordance with the existing
| laws, he is authorized to issue, sell or dis
pose of at not less than par in legal tender
| United states notes, either of the descriptions
of bonds OF the United States bearing in,
| tercSt at the rate not exceeding 4 per cent
| per annum, described in an act of Congress
| approved July II, 1870, entitled can act Ia
authorize the rciunding Of the national
| debt with like quantities and privileges
| and exemption to the extent necessary to
| carry into full effect the act of Congress, ap,
| proved January If, 1875, entitled can act
| for the resumption of specie payments and
| to use the proceeds thereof for the purposes
aforesaid and the said legal tender notes 50
obtained upon the issue of said bonds shall
he held and considered as Il part of the final
redemption of such notes, provided for in
act of Congress herein last mentioned, and
shall be treated accordingly, and cancelled,
provided that the principal of the bonds
herein authorized may be made rcdcemablc
Mt any time not less than 80, nor exceed.
ing 10 years from date Of issue, >, That
all contracts entered into or made after
the lst day January, 1873, shall be pay
able in accordance with the legal standard Of
gold and silver, unless otherwise provided
for ut the time Of the contract ;. That
all national banking associations shall
be- and are hereby requested to hold
in coin rs part Of their lawful money re-
serve on hand after the lSt day of January,
1877, onc-lourth, after The first day OF Janu-
ary, 1873, one.half and after the LIST day Of
October 1873, threc.iourths. Adjourned
In the Senate on the 9th Mr.. sherman
presented j96 petitions, signed by 29N9d per
sons, praying for the abolition of the bank
check stamp tax. Referred. Senator Dor
Scy introduced Il bill authorizing the sale and
disposal of the Hot Springs reservation in
Arkansas, and for other purposes. The com
mittce ON privileges and elections reported
that it is within the constitutional power of
the senate to elect new president pro tcm.,
at the present time il a majority OF the sena-
tors so desire. The committee made no rec
OmmCndaton, however, as to the adviSabllity
of exercising this power The report was
cOncurred in by Senators Morton, Wadleigh,
MITCHELL Cameron wis and McMillen-ull
Republicans Senators Cooper and Mcri-
mon disSented. Several petitions were m
troduccd praying the appointment of com
mission to look after the liquor traffic SEN
ator Morrill, called up his bill to further pro.
vide for the redemption of lcgaItcnder
United States notes, etc, which was discussed
the remainder of the days session without
definite result Adjourned.
In the Senate on the 9TH the further
consideration of the report of the Committee
on Privileges and Elections, in regard to the
presiding officer OF the Senate, was Iaid over
to Monday next. Clayton introduced papers
bearing on Sebastian, late Senator from Ar
kansas also, 4 memorial OF the Arkansas leg.
isaturc, asking congress to pass an act re-
funding the cotton tax, which was referred.
Also, memorial of the same legislature
asking an appropriation for the Improvement
of navigation in Bayou Bartholomew. Dor
sey presented memorial from the legislature
of Arkansas, asking for an appropriation for
the improvement OF navigation in White
river. Also n memorial from the same body
asking for the construction OF Il national
lcvcc to reclaim the alluval lands of the Mis-
sissppi river. Other bills, but of no especial
importance, were introduced and several re
ports were made OF claims reported upon ad-
yerscly, and the Senate adjourned to Mon