The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1876-02-15

National banks 10 retain as part Of their
reserves, sll the gold received by them
as interest on their bonds held by the
United States, as security for their cir
culation, until the amount of gold
so retained shall equal one
third Of their circulation, which
gold so retained shall be security for
their circulation AMI de-
posts. 1t also requires the Secretary of
the Treasury to retain from the gold
received fer custom duties sixteen mil
lion dollars annually, until the amount
50 retained shall be equal to one-third OF
the amount of legal tender notes at
such time unredeemed, what gold SO
retained shall be taken from the sinking
fund. Whenever the amount of gold
50 retained in the Treasury shall be equal
TO one-thIrd of the amount Of unredeem-
ed legal tenders then. the Secretary of
the Treasury 10 redeem the
legal tenders to the amount
of twelve millions annually, using for
that purpose the gold received for custom
duties, which gold is to be taken from
the amount ordered TO be set apart Tor
the sinking fund. The bill was referred
TO the Committee on Banking and Cur
rency.
Mr.. Willis offered resolution calling
on the Secretary of War for information
a. the leasing by Acting Quarter Mas
ter, General Rufus Ingalls, of the build
ing at the corner of Pennsylvsnia avenue
and Fifteenth street; by what authority
it was leased, the rent &c. Adopted.
Resolution Opposing Further Con-
traction.
Mr.. Robbins offered a resolution in.
structing the Committee on Ways and
Means TO inquire into the eIpediency of
reporting bill directing the Secretary
of the Treasury 10 defer for limited
period making any further reductions in
the bonded Indebtedness or the United
States by purchasing government bonds
before they become due. Also of direct
ing him 10 discontinue any further re-
ductions in the amount OF legal tender
notes now in use. Also of directing HIM
to discontinue selling gold coin or bullion,
but to accumulate it in the treasury TIL
it reaches blank millions. Adopted.
Mr.. jerks offered a resolution instruct
ing the Committee on Invalid pensions
TO institute an inquiry into the mansg-
ment OF the bureau of pensions. Adopted.
Mr.. Morrison offered resolution call
ing on the Secretary of the Treasury for
as to fraudulent inportations
Of wool. Adopted.
Early Resumption OF specie Pay
ments.
Mr.. Haze moved to suspend the rules
and adopt the following resolution:
WHEREAS, The currency now IN use
among the people of the United States,
consists of national bank notes and green
backs, the latter being debt of the gov
ernment, widely distributed among the
people, and the former being redeenab'e
in green backs and subject to like iluctua-
tion with il, and,
WHEREAS, The United States Treas
ury has thus far failed TO meet It's obliga-
tions and TO redeem its notes, thereby de
preciating the value Of the peoples
money and keeping it at large discount,
which depreciation varies from day TO
day, causing risk and uncertainty in busi- |
ness affairs and the great prejudice of all
legitimate industry and enterprise and
WHEREAS, Congress, by It's enact
ments, and both political parties, by the
resolutions adopted in their several
National Conventions, stand committed
to the early resumption Of specie pay
ments; therefore
Resolred, That prompt measures should |
be taken by such legislation as is needed
to render effective the policy of resump-
tion of specie payments by placing IN the
hands of the Secretary of the Treasury |
all necessary powers to carry out said ob.
iects Tor the end that a sound and stable !
currency may be provided for.
Mr.. Morrison suggested that the rcso.
luton should be referred 10 the Commit
tee on Banking and currency.
Mr.. Hall think it better 10 have an
expression of opinion Of the House now
| want 10 see whether caucuslng has
done our friends on the other side Of the
House any good. /
A motion 10 suspend the rules and |
adopt the resolution was lost; yeas So |
nays l39. The vote was pretty nearly a |
party one, although there were some |
devistioas from the rule. Among the |
Democrats voting aye were Tarbox and
Willis; among the Republicans voting
no were Baker, (of Indisna) and Fort.
On motion OF Mr.. Kelly it wa, ordered
that Saturday next be set apart exclusive
ly for debate, with the understanding
that he Kelly is 10 make speech in
reply 10 Blaine, and that Mr.. Chlttenden
is 10 precede him in speech on finances.
Adjourned.