The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-01-16
THE CONGRESS-.
AN UNIMPORTANT SESSION OF CON
GREss.
Passage OF n Bill In the House to Make
the Government n Depository
Of small savings.
THE SENATE.

| Mr.. Sargeant made number oil adverse re.
| ports from the Committee on Naval Affairs on
| the following bills: One directing the method OF
annual expenditures to be submitted from the
Navy Department: to au horize the appoint
| ment of apothecaries as warrant affairs In the
/ navy to provide for experiments and the pur
chase Of moveable torpedoes for military and
Mr. Conkling offered q petition Of. citizens of
New York Tor legislation u,1 in special l bounty
Also. petition asking for the pas sage Of
| arrears Of bounty bills. and a memorial remon-
strating against the passage OF the bill auieting
the title OF lands donated for the Improvement
Mr.. Edmunds, from the Judiciary Committee
hons Of dsr courts 80 IN
| which passed the Senate last session and was
returned from the House with an amendment.
| which recommends that the Senate disagree
| and ask committee of conference. Agreed to-
He also reported from the same committee
b to restSre the records d. and and es q the Dis
| the Western District Of Texas, recently destroy
cd By FIRE The committee report as asubsti-
storing the records Of all courts lost by fire.
Mr.. Conkling submitted a memorial OF ship
pers and merchants Of New York concerning
| the act to regulate inter- State commerce. To
! the Committee on Commerce.
He also. by request introduced a Joint resolu-
District OF Columbia. Referred to the Commit,
tee on the District Of Columbia.
Mr.. Ingalls, introduced q bill relating to the
l. iian Territory. To the Committee on Indian
ar. Anthony introduced i bill making an ap.
e oss q nor o
fleet. To the Commit. 9 on Naval Affairs.
Mr.. Burnside introduced q bill authorizing
Avery, p. :. A, with the rank IF brigadier gen
eral. To the Committee on Military Affairs
Also. bill to ,attborize the Seer etary Of the
at Providence. r. l. To the Committee on
Public Buildings and Grounds.
Mr.. Allison submitted q conference report
| Academy AUTHORIZATION III.
| which was adopted by the Senate.
Mr.. .Withers offered resoution that to-mor.
row the Senate take a recess till 7:45 p. M, ut
Of the House Of Representative to participate
services of the late Prof. Henry. secretary OF
the Smithsonian Institute. Laid on the table.
Mr.. Dorsey called up the bill to authorize the
water rate Of the District.
Mr.. Voorhees, offered q resolution directing
the Com missioner on Indian Affairs to inquire
| flight Of the Cheyenne Indians from Fort Sill.
| On motion Of Mr.. Anthony. the Senate pro-
The. following bills were read and laid over.
| objection being made to their present con.
sideratton: A bill to provide for survey Of
an inland water route and canal from the Mis-
| sissippi river to the Atlantic ocean,,
number Of petitions. memorials and bills
Among them were the following: One protest
ting a. ainst the tobacco tax: for Legislation In
special bounty cases asking the passage of ar
L
| to regulate inter III ate commerce.
Mr.. Allison submitted the conference report
which was adopted by the Senate.
The Senate then proceeded to consider bills
on the calendar. The following bills were read
| and laid over. objection being made to their
present consideration:
An act for the uayment to officers and soldiers
OF the Mexican war of the three months entire
pay provided for by the act OF July 10. 1913; a
Joint resolution In relation to the establishment
and location of an additional national observa-
n md 1II ftfn q raviu iuntn ofrrrn
The Senate went into executive session. and
after some time spent therein adjourned.
THE HOUSE,
The Speaker laid before the House number
OF executive communications. which were ap
The regular order having been demanded the
Speaker announced that to be the consideration
Of reports from the Committee on Ways and
Mr.. Wood. chairman of the committee. said
they had large amount OF business which
asked that q recess bs taken to. day from 4sO
o'clock w uotil Z; The motion was % agreed to.
refund ing Of the public debt. 1t authorizes the
issue In exthanRe for lawful money Of certi-
bearing interest at the rate Of per cent. and
convertible into the per cent bonds. as desired
Mr. Wood said the object Of this bill was to
establish a national savings bank here. Every
dollar intrusted to it would have absolute Sc
sSat enrty He called attention to toe uncertainty
and losses. and said there was an abso-
lqte necessity for such a. bill as this.
proposed system had prevailed with good re-
suits In France. and 1t could be done as we'll
here. he believed the result would be that our
asbt would be funded uader this system at q |
The bill. he sontended, was in the interest OF
IN NJ IKE Kelly E of y Pennsyvana vaiss offered an amend
ment 30 that the $40 certificates may be con- |
yyertible. after six months. into lawful money. |
He argued that without this amendment the |
bill was delusion and snare. and would |
place the poor and laboring classes in the |
power Of the stock boards and Shylocks. He |
said that the very Idea OF savings banks was |
that people who wanted to keep their small |
surplus earnings might put them In sac |
notice. Under this Bill. without % his o amend Sn
ment, these small earnings could not be con-
verted into cash except by Q conversion into a 4
per cent bond unless the depositor made him
self subject to the demands OF the Shylocks and |
money changers as these certificates only bore |
per cent interest. and as the per cent bonds |
We're sold at par. the disadvantage would all |
Mr.. Banks. of Massachusetts. thought that an |
ton with this bill was the effect upon the secu.
rifles held by savings institutions. II the gov |
ernment m ne offered this safe Investment. would |
not the tendency be TO withdraw the deposits |
from the savings banks and compel them to |
sell their securities. and would not many Of the |
material interests OF the country, be embar-
era features of the bill. that waAa question |
which should be considered.
Mr.. Wood said that as this bill proposed only |
3 per cent. and as the savings banks paid more
than thar. no money would be Withdrawn from
the banks In which the public had confidence.
Mr.. Butler, OF Massachusetts. opposed the
BILL because 1t was a deusion and a snare. 1t
Is simply a proposition that when poor man
has accumulated $40 he may go to government
depository. and. depositlng his $40. get $40
certificate. and when he gets five of these GER
tihcAtes he can get a $50 per cent bond. He
might as well keep his $40 bill In his pocket and |
when he gets $50 buy that per cent bond for he
would save the time expended in running about
Under this bill, without the amendment, these
small earnings could not be converted into cash
except by conversion into per cent bonds.
Mr. Garfield believing this to pe a serious
attack upon the credit OF the government.
The motion Was re re;actaduveaa .no sSo1 ~ nova,ss
The yeas and nays we're then called on the
passage OF the bill. and.it was passed-yeas 154.
nays 43.