The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-04-11
SENATE.

1n6 stLN6h DiiaL.
In the Senate during the morning hour
a large number OF bills and petitions were
presented and referred.
The House bill to provide for def
cheney in the Printing and Engraving
Bureau OF the Treasury Department, and
for the issue Of silver coin OF the United
States in place OF fractional currency was
taken up.
Mr.. Sherman explained the provisions
OF the bill and the amendments proposed
by the Senate Finance Committee, at
length.
Pending the discussion the morning
hour expired and the Chair laid before
the Senate the unfinished business being
bill fixing the ratio OF postage on third.
class mail matter. II was laid aside in
formally and Sherman continued his
speech. In his opinion there were but
two things more needed to make this a
perfect financial measure and they were
to authorize any holder Of greenbacks 10
convert them into four per cent forty.
year gold bonds and to exchange our six
per cent bonds for four per cent ones,
then specie payment would come without
ripple in the current. Another thing
he believed in was an international con.
vention for a unit Of money and accounta
both ofgold and silver.
The debate was further continued by
Messrs. Morton, Morrill, and Bogy.
Mr.. Sherman said 1t was very impor-
tant that the first and second sections oi
the bill should be passed Immediately, as
the country was getting scarce Of change,
Hc suggested that those two sections be
passed, leaving out the Sd and 4th sec.
tions, with the understanding that the
committee OF conference would consider
the subject embraced in them and report
it us an independent measure. Mr.. Sher-
man then, by unanimous consent, with
drew the Sd and 4th sections Of the bill
the first one comprising the Sd section Of
the bill as 1t passed the House, which had
been amended by the Senate Committee
on Finance.
Mr.. Morrill, said il was vastly import
ant that the 1st and I'd sections Of the bill
should be passed in order to supply the
national banks with currency. There
were now 1876 national banks without
currency.
Mr.. Sherman said, speaking for himself
and others, that he wished 1t 10 be under
stood that they were not opposed to the
Sd and 4th sections, and Withdrew them
merely TO have public business expedited.
Mr.. Morrill, (of Maine) moved an
amendment to the 1st section apptopri-
ating S4s, 900 to provide for the engray-
ing and printing OF national bank notes,
to be disbursed under the Secretary oi
the Treasury. He sent to the Clerks
desk and had read letter from the
Comptroller OF the Currency urging the
appropriation. The amendment was
agreed TO.
Mr.. Sherman submitted an amendment,
as follows: "And fractional currency
redeemed under this act shall be held TO
be part Of the sinking fund provided
for by the existing law, the interest to
be computed thereon as in the case OF the
bonds redeemed under the act relating To
the sinking fund" Agreed to.
The bill was then read three times and
passed. Its as follows: Be it enacted &c.,
that there be and hereby is appropriated
out Of any money in the Treasury, and
not otherwise appropriated, the sum oi
SlG3,00O to provide for engraving, print
ing and other expenses ofmaking and Is
suing United States notes; and further
the sum Of $4,000 to provide for engra-
wing and printing national bank notes
to be disbursed under the Secretary oi
the Treasury.
SEC. .. That the Secretary Of the
Treasury is hereby directed to issue sil.
yer coins fthe United States OF the de.
nominations OF 10, 20, 25, and so cents,
OF the standard value, ir the redemption
OF an equal amount Of fractional curren-
cy, whether the same be now in the
Treasury awaiting redemption or when
ever It may be presented for redemption,
and the Secretary Of the Treasury may,
under the regulations OF the Treasury
Department, provide for such redemp-
tion and issue by substitute at the regular
sub.treasuries and public repositories Of
the United States until the whole amount
OF fractional currency shall be redeemed,
and the fractional currency redeemed
under this net shall be held 10 be q part
Of the sinking fund provided for by the
existing law, the interest to be computed
thereon as in the case Of bonds redeemed
under the acts relating to the sinking
Mr.. Morrill, (Alains) submitted til,
ResoIred, That the Committee Of N,