The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1881-01-15
T TE1I:.lLEGR.As.P!E.H'TC. {. / &c
L7slsgrapAsasosas Roekzs.ana Areu.. ]
THE PuHDINa ELL
THREE POINTS SETTLED.

/ udfi tuS luduiu& Utii = WAS per- Ia u
/ far as the rate Of intersst.tilne end amour
Of bonds and certificates are concerned
The word certificates" was, by uuani
nous consent, substituted 10 place of th,
! words treasury notes" wherever the,
occurred in the section under consid
GRAFTON. This section. as it now stands
provides for the issuance of $40O. 600, ,OO(
bonds, besring three per cent interest
redeemable in five and payable in tel
years, and $500. 100000 of certificates
bea'ine per cent. interest, redeemabe il
one year and payable in ten The amoun
of bonds provided iD the original sector
was $3.50. 900 600, and of notes 5000, 900,
900. On motion of Mr.. Townshend, o.
| Illinois, the amount of bonds was reduced
| $50 600, 900 and the amount of treasury
| notes or certificates was incr eased $l0O.
! O00,000. It will thus be seen that the
4 AGGREGATE AMOUNT OF BONDS AND NOTES
is at present $50, ,OO0. 900 more than it was
In the original section. MIR. Randall'f
proposition yesterday was to strike out
the clause relating to treasury notes and
provide only for bonds to the amount
of $650.000.0 To day he modified bis
amendment by leaving the provision for
treasury notes in the bill. The Sanford
| provision. authorizing payment as of all
over $5O,o00.600 of gold and silver in the
treasury on bonds becoming redsemable
this year still remains in the section. Mr..
RandslPs proviso. notice Of which was
given yesterday. that interest on 6 per
cent bonds authorized to be refunded
shall cease at the expiration Of 80 days
after notice. that the same have been
designated by the secretary of the treasury
| for redemption, was considered and
10 rIoD
with the Recommendation of the secretary
of the treasury. The above was the status
Of the pending section, when the house
adjourned this evening.
A LARGE NUMBER OF AMENDMENTS
were offered during the day, some being
voted down and others ruled out of order
An amendment was offered by Dir. An
derson. of Kansas, prohibiting reissue of
national bank charters, and substituting
for circulation of national banks as rapidly
as their charters expire currency nom
interest bearing note. This currency
note, as mr. Audcrson's amendment pro
vides, differs only from the Grsenbaek in
that it 10 not q legal tender. Like the
bank note. it has no power in the payment
of debts. 1t simply performs the functions
of national bank note. The amendment
was offered shsrt time before the COM
mittes arose. The point of order that it
is different subject matter from that con-
tanned in the bill was raised against it. and
is cow pending. The amendment will
probably be ruled out by the chsir.
Amendments offered by Mr. Mills of
Texas, and Mr. Clshin of Massachusetts,
were accepted by Mr. Randall
before the vote on his amendment was
taken. Mr.. Mills, In the first place, want
ed bonds
REDEEMABLE AFTER ONE YEAR,
but afterward accepted the amendment of
Mr.. Clafin to have them redeenable in
FIVE years. These two gentlemen also
agreed to make them payable alter Ten
years. Before the question OF time was
settled vote was taken on q proposition
OF Judge Ryan, of Pennsylvania, to make
the bonds payable 10 twenty years. This
was voted down-74 TO l03 Republicans
voted mainly 10 the affirmative, showing
that they are ia favor of q logger option
bond than proposed by the action of the
house to day, On the section as perfected
by Mr.. Randslps amendment the vote
stood l28 to 2. great many Republicans
and Q number of Democrats retraining
from voting. About thirty Republicans,
among them Messrs. .Dunnell, Butterworth
Kelly. Monroe, CIafo. FOrti ,Updegraff,
Barber. Williams. and Anderson.
voted 10 the affirmative Messrs.
Weaver and Gillette, greenbackers, were
THE ONLY MEMBERS WHO VOTED AGAINST
IT eaF
1t was noticeable that Mr. De La Matyr,
Greenbacker, voted for it. Mr.. Kelley
expressed bis thapkfulness to members
who had spoken kindly of his proposed
substitute, saying that inasmuch as the
committee of the whole had already
adopted it in substance he would not offer
it, Among the amendments voted down
was one by Mr.. Weaver, providing that no
portion of the public debt now payable in
lawful money shall be funded under the
authority OF this bill into obligations pay
able exclusively in coin. The vote on this
was So to 65, q number of Republicans and
Democrats voting with the Greenbackers.
Among The amendments ruled out o. order
was one offered by Mr.. Chittenden,
already noticed n these dispatchcs. 1t
abolishes the tax upoa capita! and deposits
of banks, gDd provides that the tax upon
circulating notes OF national banks issued
upon bonds authorized by the bill shall
not exceed of per cent, and that the
total amount of silver dollars of the weight
Of 4l23 grains Troy. authorized under the
act OF February,sIS78. shall not exceed
500, 100000. Dir. Chittenden was very
ANXIOUS TO MAKE A SPEECH
on his amendment. asking common consent
to do SO, but Dir. ToEnshend. of Illinois.
said he would object unless permission.
was given him TO reply; but this was not
given, and Mr.. Chittenden subsided
An amendment offered by Mr.. Dibrell
was read providing for an income tax en-
corporations. 1t will be brough, up when
the house again goes into committee on
the funding bill, and will probably be ruled
out of order.
10 the course of the debate to-day, Mr.
Reed, of Maine, charged that Speaker
RaDlal bad descended from his chair and
by words spoken in debate had given a
partisan turn to the deliberations. The
words referred 10 were in substance that
the policy and course of the Democratic
party 10 congress had been TO discharge
the national debt in the quickest possible
time, and by expenditure of the least
possible time. and By expenditure OF tie
least possible amount Of money. On the
cent? airy the
RECORD OF THE REPUBLICAN, PARTY
show d that it was q party OF high bonds