Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-03-07
FUN IN CONGRE SIS.
G4RFIELD EXPERTLY FLAYS PIG
Iron KELLEY
The Senate Passes the WOrthington s. Sioux
Falls Railroad Bill--Also the Long Bond
Bill, Providing for an Issue of Four Per
Cents Payable in Either Coin or Green
Senate.

ScHUtc.
WASHINGTON March Ex-senator Haddock
from the committee public lands submitted
resolution authorizing the committee con-
sidering the memorial of VIM. McGarrahan to
send for persons and papers, take testimony
and employ stenographer. Agreed to.
The Senate bill to authorize the Worthington
& Sioux Falls railroad company to extend it's
road into the territory Of Dakota to the village
of Sioux Falls, was taken up, discussed and
passed.
Senator Chafce, from committee on public
lands reported substitute for the Senate bill,
authorizing the citizens of Colorado, Nevada,
and the Territories to fell and remove timber
on the public domain for mining and domestic
purposes, Placed on the calendar
Senator Plumb, from the committee on
public lands reported with amendment the
Senate bill defining the manner in which GER
tain land scrip may be assigned and located, or
applied by actual settlers, and providing for
the issue of patents in the name of the locator
or his legal representative. Placed on the CAL
endar.
Consideration then resumed of the I'M
finished business, the long bond BILL and
after a long debate, the bill was amended and
passed without roll call. The following is the
full text Of the bill as it passed.
Be enacted, BY the Senate and House of
Representatives of the United States OF Amer
lea, in Congress assembled: That in lieu of
that amount of four per cent. bonds of the
United States. authorized to be issued by the
act of July 18th, 1870, the secretary of the
treasury is hereby authorized and directed to
issue sum, not exceeding 800, 100000 of
coupon bonds Of the United States, of denomi-
nation 1875, 3d. and 800, and of equal sums
of each said denominations, redeemable in
coin fifty years from the date Of their issue,
and bearing interest, payable semi-ann ually, at
the rate of four per cent per annum, and
said bonds shall be exempt from taxation in
like manner as those in place of which they are
to be issued
Sec. 2. That said coupon bonds shall be
made payable to the order of the person who
shall pay money therefor, and the name of
such person, his or her ASST gnec. of any
subsequent assignee, and his OF her residence
shall be registered as the owner of such bond
in like manner if the same registered
bond, and such coupon bonds shall be trans
ferable only by ASST gnment duly acknowledged
before and certified under the seal of a clerk of
State court of record or federal court or United
States commissioner, which assignment shall
also be executed in the presence of two SUBJ
scribing witnesses, and such assignment may
also be made leaving the name of assignee
blank and when SO made in blank and eXecut-
ed as hercinbefore provided, said coupon bond
shall be transferable by delivery in like man
if payable to bearer.
Sec. 3. That the coupons attached to said
bonds shall be payable either in United States
legal tender notes or in coin at the option Of
the United States, and the same shall be paid
at any of the sub-treasuries or money depos-
itories of the United States or at any national
bank, and it is hereby made the duty of each
of said national banks to pay said coupons
upon presentation without charges and remit
the same to the treasury for rcdemption; but
said national banks shall only be required to
do so on production of the paper bond to which
the coupon presented shall have been attached.
Sec. 4. Shat the secretary shall keep said
bonds for sale at the different bub-treasuries,
national banks, and money Repositories of the
United States and shall dispose of the same at
par and accrued interest for coin or for United
States legal tender notes at their nominal value,
and such legal tender notes shall be reissued
and their proceeds and the coin received for
such bonds shall be applied to the redemption
of outstanding bonds of the United States,
which are redeemable and bear the highest rate
of interest of such bonds.
Sec. S. That the provisions of sections
thirty hundred and four and thrty-seven
hundred and five of the revised statutes of the
United States, authorizing the issue of another
bond in room of any registered bond lost or de
stroyed, are hereby made applicable to the
bonds to be issued under this statute, but only
in case of the loss destruction thereof before
the execution of assignment in blank thereon
The secretary of the treasury is authorized tt
make such rules and orders as may be necessary
to carry out the provisions of this act.
On motion of Senator Sargent, the Joint rcso
Chinese immigration, was taken up, so as to b.
unfinished business Tomorrow when he vii
address the Senate in regard thereto.
After an executive session, adjourned.