The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-04-11
FORTY-F0URTH CONGRESS-.
PdS5fGE or THE BILL FOR THE
CIRCULd TION OFSILVER COIN.


A Discussion on the Currency Question
Danks without Currency to be- supplied
Millions for Our Rivers nnd iIarbor-.
WASHINGTON, April 10 Mr. Conkling
Rep.. n. " press nted resolutions OF the New
York Chamber Of Commerce In favor 81 the old
rates Of postage on third-class mat, and asking
that In the transportation of merchandise
through the MALL, distinction be made be-
tween merchandise and samples OF merchandise
Laid on the table, the bill now being before tho
Senate.
Petitions asking appropriations to increase the
efficiency Of tho Signal Service Bureau were pre-
sented by Mr.. Howe Of wisconsion from the
Milwaukee Chamber Of Commerce, and by Mr.
Herman Of New York from the New York Cotton
Exchange. Referred.
Mr.. Mcrrimon Dem, N. C) presente the Pc
tltion 81 $1,000 business mon OF the United
States. demonstrating against the manufacture
and sale by the Government Of envelopes and
postal cords
Mr.. Cockrill Dem. MOI, from the Committee
on Military Affairs, reported favorablv ON the
House bill to reduce the area Of the military
reservation at Fort Laramie, Wyoming Terri
Mr. Hitchcock Gep.. Neb), from the Commit
tee on Territories. reported favorably on the
bill To establish the Territory Of Ptmbina and
provide IA Temporary Government therefor.
Mr. sherman Qtep., OhiOl called up the House
bill to provide for a deficiency In the printing
aud engEiviGg bureau Of the Treasury Dep irt-
ment, and for the issue Of silver coin Of the
United 81 ties In place OF fractional currency,
The Committee on Finance having reported
amendments In regard to the coinage OF silver
dollar. authorizing It's exchange for United
States notes, Mr. Sherman delivered n speech.
lie was followed by Mr. Morton and MIR. Morrill.
Mr.. Sherman then by unanimous consent
vltha,e~ the third and fourth seo,!5ns % the
bill, the nTst one COMPRISING Tue third section Of
the bill a. 1t passed the House, which h d been
amended bv the Senate Committee on Finance.
Nr. morrill, Qtep., Me) said II WAS vastly Inn
portant that the first two sections Of this bill
should be passed IN order 70 supply the national
national banks without currency. lie moved an
amendment 70 the nrst section, nppropriating
Of national bank NOES, to be dsbursed under
the secretary OF the Treasury. He sent TO the
Com pttoer OF the Currency, urging the appro-
priatiun. The amendment was agreed to.
Mr.. Sherman submitted an amendment as fol-
lows:
And the fractional currency redeemed under THE act
s oe h.,d to .e par, o. ~, ,nkiss i9Id prVSded
on as In ia, cse ~ tonds redeemed under the act re-
laing TO thc sinxn. fund
Agreed to. The bill was then read third
time and pa sed. 1t II as follows;
Re q engcisd That there be, and hereby is sppropr:
approprat d. the sum Of ,iGs oo to provide Tor en-
ftsyng aud printing ana other expenses OF making and
tlsooJ to provide Tor cngraving and printing national
nanS notes to be discussed under the secretary Of the
Tdai the Secretary Of the Treasury Is hereby directed
inaton OF ten. twenty. tweutynye and atty cents, q
standard value. In REDEEM itou OF equal amount ~
fractional currency, whether the same Oe now IN the
Treasury awaiting reaciuptiol or wherever Il may be
presented Tor redemption. aud the Secretary OF the
Treasury NAV. under rcgu ltions OF the Treasury De-
pnrimtnt, provide for such redemption ana Ivy
substitution the regular sub Treasures ard Public
DghositJries Of the United States. uutl whole
Hnoun VI fractional currency outstanding snail BE-
deemed and tic fractional currency redeemed undcr
Tins act shall be held 10 he ri OF the snSing fund
provided Tor by the exiting law the Interest to be
computed thereon In the OF bonds redeemed
under the Hcts relating t. the sinking fund.
Mr. Morrill, lReu.. Mel submitted the follow
ing:
H'olrcd That the Committee Of the District OF
Columbia be directed 10 communicate to the senate
the amoun OF certificates Of Indebtedness Commonly
,a Arccuuacksl ISSUED by vtr,ue Of the District Of
ulumiH ana ct congress; also tie amount Of assess
meats made ~ pursuance sad the pay
mrnt Of san ctttlrct'c- o. iuucht in the amount
OF said assessment roicctcd. aud tho ont tan!
lug alad. n any, reasons why the
not been uectrd Nhetner any further legislation
IN tn .IcnIses Is Necessary. Agreed 10.