The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1876-06-12
XLIVTH CONGRESS-First Session.
WASHINGTON, June 10, 1876.


WASHINGTON, June 10, 1876.
SENATE.
There was no quorum in the Senate to-
day. Adjourned.
HOUSE OF REPRESENTATIVES,.
Bill amending the bankrupt act was
passed.
Bill reducing the staff OF the medical
corps OF the army was passed.
The Committee on Banking and Currency
reported the following through its chair
man, Mr.. Cox, who called Mr.. Sayler, OF
Ohio, to the Speakers chair:
That the Secretary OF the Treasury, I'M
der such limits and regulations as Will best
secure Il just and fair distribution OF the
same through the country, may issue the
silver coin now in the Treasury to an
amount not exceeding Sl0,000,000 in eX-
change for an equal amount OF legal-tender
notes; and the notes so received in exchange
shall be kept rs special fund, separate and
apart from all other money in the Treasury,
and be reissued only upon the retirement
and destruction OF -, amount OF frac-
tional currency received at the Treasury in
payment OF dues to the United States; and
said fractional currency, when so substl-
tutcd, shall be destroyed as part Of the sink
ing fund provided in the act approved April
II, 1876. The report passed without dl-
vision.
The same committee reported the follow
ing:
Section /. That in addition to the amount
Of subsidiary coin authorized by law to be
issued in redemption OF the fractional cur
rcncy, it shall be lawful to manufacture ut
the special minis and issue through the
Treasury and its several offices such coin to
the amount Of s20,000,0O0.
Section >. That the silver bullion required
for this purpose shall be purchased from
time to time at market rate by the Secretary
of the Treasury with any money in the
Treasury not otherwise appropriated, and
the resulting coin may be issued in the or
binary disbursement of the Treasury, or in
exchange for legal-tender notes at par; but
no purchase OF bullion shall be made under
this act when the market rate for the same
shall be such as will not admit OF the COIN
age and issue or exchange as herein pro-
yidcd without loss to the Treasury, and any
gain or scigniorage arising from this coinage
shall be accounted for and paid into the
Treasury as provided under existing laws
relative tothe subsidiary coinage; provided,
that the amount OF money at any one time
invested in such silver bullion, exclusive OF
such resulting coin, shall not exceed
S1,000,000.
Section g. That the tradc-dollar shall not
hereafter be legal tender, and the Secre-
tary OF the Treasury is hereby authorized to
limit from time to time the coinage thereof
to such an amount as he may deem suili-
cicnt to meet the export demand for the
same.
Mr.. Reagan, of Texas, moved to strike
out OF the second section the words % or in
exchange for legal-tcnder notes at par " /;
also, to strike out the words "or cX-
change"
The amendment was agreed to, and the
bill rs thus amended was then passed with
out division.
The Elections Committee reported that
Mr.. Abbott, from Massachusetts, was enti-
tied to his seat.
Mr.. Levy, OF Louisiana. offered resolu-
ton instructing the special Committee on
Louisiana Affairs to investigate the outragcS
alleged to have been recently committed i'll
West Fciciana, in that State. Adopted.